Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

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Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

Heading

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Frequently Asked Questions

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

Form 8300 is a federal reporting form that businesses must file with the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN) when they receive more than $10,000 in cash from a single customer in one transaction or in related transactions. Think of it as a tracking system that helps the government combat money laundering, tax evasion, drug dealing, and terrorist financing activities.

The form applies to anyone operating a trade or business—from car dealers and jewelry stores to attorneys, real estate brokers, travel agents, and pawnbrokers. If you're in business and someone hands you a large amount of cash for your goods or services, you'll likely need to know about Form 8300.

It's important to understand what counts as "cash" for this purpose. Obviously, coins and currency (both U.S. and foreign) are cash. But the definition also includes cashier's checks, bank drafts, traveler's checks, and money orders with a face value of $10,000 or less when received in certain circumstances. However, personal checks don't count as cash, and neither do wire transfers from banks or monetary instruments over $10,000 (because banks already report those separately).

When You’d Use Form 8300

Standard Filing Deadline

Under normal circumstances, you must file Form 8300 within 15 days after receiving the cash payment. For example, if a customer pays you $18,000 in cash on January 6th, you must file by January 21st (unless that date falls on a weekend or holiday, in which case you file the next business day).

Installment Payments

If a customer pays you in multiple cash installments, you start counting from the first payment. Once the total exceeds $10,000 within a 12-month period, you have 15 days from the payment that pushed you over the threshold to file. You'll need to file another Form 8300 if the same customer pays you more than $10,000 in additional cash within the next 12-month period.

Late Filings

If you miss the deadline, you must still file the form, but mark it as "LATE." Write "LATE" at the center top of the paper form or include it in the comments section if filing electronically. Late filings don't excuse you from penalties, but filing late is better than not filing at all.

Amended Filings

If you discover an error on a Form 8300 you already filed, you need to file an amended report. Check box 1a at the top of the form and complete the entire form with the corrected information. Don’t attach a copy of the original—just submit the complete corrected version.

Key Rules or Details for 2015

The $10,000 Threshold

The reporting requirement kicks in when cash payments exceed $10,000. This can be one lump sum or multiple related payments within a 12-month period.

Related Transactions

Transactions are considered "related" if they occur within a 24-hour period between the same buyer and seller. They're also related if they occur more than 24 hours apart but you know (or have reason to know) they're connected.
Example: A customer pays $8,000 cash for a trip on Monday and returns two days later to add another person for $3,000 cash—these are related transactions totaling $11,000.

Taxpayer Identification Numbers (TINs)

You must obtain and report the correct Social Security Number (SSN) or Employer Identification Number (EIN) of the person providing the cash. If the customer refuses to provide their TIN, you must note "customer refused" on the form. For nonresident aliens without U.S. tax obligations, the TIN requirement may be waived, but you still need valid identification.

Customer Notification Requirement

By January 31st of the year following the transaction, you must send a written statement to each person named on the Form 8300. This statement must include your business name, address, contact person, phone number, and the total amount of reportable cash received. You’re basically telling the customer: "We reported your cash payment to the IRS."

Suspicious Transactions

If you suspect someone is trying to avoid triggering the reporting requirement (like breaking up a $15,000 purchase into smaller transactions), you should check the "suspicious transaction" box and potentially contact IRS Criminal Investigation. Never tell the customer you’ve marked their transaction as suspicious.

Record Retention

Keep copies of all filed Forms 8300, supporting documentation, and customer statements for at least five years.

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Determine whether you’ve received more than $10,000 in cash in a single transaction or in related transactions within the specified timeframes.

Step 2: Gather Required Information

Collect the payer’s name, address, SSN or EIN, date of birth, and occupation. Verify their identity using a government-issued ID such as a driver’s license or passport. Document the transaction details: date, amount, type of payment (currency, cashier’s check, etc.), and what was purchased.

Step 3: Complete Form 8300

Fill out all four parts of the form:

Part I: Identifies the individual from whom you received cash.
Part II: Identifies anyone conducting the transaction on behalf of another person.
Part III: Describes the transaction and payment method.
Part IV: Provides your business information and signature.

Step 4: File Within 15 Days

In 2015, you could file electronically using FinCEN’s BSA E-Filing System (free and recommended) or mail a paper form to the IRS Detroit Federal Building. Electronic filing wasn’t mandatory yet in 2015, though it became required for many businesses starting in 2024.

Step 5: Send Customer Notification

By January 31st of the following year, provide a written statement to the customer informing them of the filing. Don’t send them a copy of Form 8300 itself (it contains sensitive information like your EIN); instead, create a simple statement with the required elements.

Step 6: Maintain Records

Keep your copy of Form 8300, all supporting documentation, and proof you sent the customer statement for five years.

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Some customers may suggest splitting a purchase into multiple transactions to stay under $10,000. Never agree to this—it's called "structuring," and it's illegal for both you and the customer. You could face criminal charges with fines up to $250,000 (for individuals) and five years in prison.

Mistake #2: Failing to Recognize Related Transactions

Don’t assume transactions are unrelated just because they occur on different days. If you know or should know they're connected (same customer, same purpose, within a reasonable timeframe), they’re related. Document your reasoning.

Mistake #3: Missing or Incorrect TINs

Not obtaining the customer’s SSN or EIN is one of the most common errors. Always ask for identification and verify the information. If a customer refuses, document their refusal and note it on the form—don’t just leave it blank.

Mistake #4: Confusing Cash Definitions

Remember that a $15,000 cashier’s check doesn’t count as "cash" (it’s over $10,000), but a $7,000 cashier’s check combined with $5,000 in currency does count (both are under $10,000 individually). Personal checks never count as cash.

Mistake #5: Forgetting the Customer Notification

Many businesses file Form 8300 but forget to notify the customer by January 31st. This is a separate requirement with separate penalties—$270 per failure in 2015 (adjusted for inflation annually).

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Count calendar days, not business days, and remember that if day 15 falls on a Saturday, Sunday, or holiday, you file the next business day. Set calendar reminders as soon as you receive reportable cash.

Mistake #7: Failing to File When "No Profit" Is Involved

Even if someone repays a loan or pays off a debt in cash over $10,000, you must file. The form isn’t just for sales—it covers debt payments, loan repayments, cash exchanges, and even escrow contributions.

What Happens After You File

Confirmation

If you filed electronically, you'll receive an email confirmation. Print or save a copy for your records—the confirmation alone isn’t sufficient; you must keep a complete copy of the form itself.

Your Responsibility Continues

Remember to send the customer notification by January 31st. This is a separate requirement that comes months after filing.

Potential Follow-Up

The IRS or law enforcement might contact you if they need additional information about the transaction. This doesn’t necessarily mean anything is wrong—they may just be conducting a routine investigation.

Audit Trail

The information you report helps create an audit trail. If the IRS later examines your tax return or your customer’s return, they’ll cross-reference Form 8300 data to verify reported income.

No News Is Good News

Most of the time, you won’t hear anything after filing. The form goes into government databases, and that’s the end of your involvement unless questions arise.

Customer Awareness

Since you must notify customers by January 31st, they’ll know their cash payment was reported. This is by design—the transparency requirement helps deter illegal activities.

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Yes, if you know or have reason to know these payments are related to the same transaction or purpose, you must report them as related transactions totaling $11,000. The key isn’t just the 24-hour window—it’s whether you can reasonably connect the payments. When in doubt, consult the facts: same customer, same purchase or purpose, and within a 12-month period all suggest relatedness.

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

No. A single cashier’s check over $10,000 is not treated as "cash" for Form 8300 purposes because the bank that issued it already reports the transaction to the government. However, if you received a $7,000 cashier’s check plus $5,000 in currency, you would need to file because both amounts are under $10,000 individually, making them "cash" under the rules.

Q3: What penalties could I face for not filing or filing incorrectly?

In 2015, penalties for negligent failure to file ranged from $100 to $270 per form (adjusted annually for inflation), with annual caps around $1.5 to $3 million depending on your business size. Intentional disregard carries much steeper penalties: the greater of $25,000 or the amount of cash received (up to $100,000) per failure. Criminal penalties for willful failure include fines up to $250,000 for individuals ($500,000 for corporations) and up to five years in prison.

Q4: Does this apply if I sell my personal car for cash?

No. You only file Form 8300 for transactions that occur in your trade or business. If you're selling personal property (like your own car, boat, or jewelry) and you're not in the business of selling those items, you don’t file the form. However, if you're a car dealer or regularly buy and sell vehicles as a business activity, the rules apply.

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

You cannot legally avoid the reporting requirement. If you receive reportable cash, you must file Form 8300 within 15 days—there’s no option to decline the payment or ignore the rule. Many businesses establish policies to refuse cash over $10,000 (requiring bank checks or wire transfers instead), but once you’ve accepted reportable cash, you must file.

Q6: What if the customer refuses to give me their Social Security Number?

You must still ask for it and document your request. Note the refusal on Form 8300 (write "customer refused" in the TIN field for paper forms, or note it in the comments section for electronic filing). While you may avoid penalties if you can show you made a reasonable effort to obtain the information and the customer refused, you still must file the form. Document your attempts to gather the required information.

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

The 15-day clock starts when total cash payments cross the $10,000 threshold.
Example: If someone pays $4,000 on January 5th, $3,000 on February 10th, and $4,000 on March 15th, you must file by March 30th (15 days after the March 15th payment that pushed the total to $11,000). After you file, start a new count—if the same customer pays more than $10,000 in additional cash within the next 12 months, you file another Form 8300.

Sources:
All information in this guide comes from official IRS publications, including the IRS Form 8300 Reference Guide, IRS Publication 1544 (Rev. September 2014) – Reporting Cash Payments of Over $10,000, and the IRS Form 8300 reporting guidance.

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

When You’d Use Form 8300

Standard Filing Deadline

Installment Payments

Late Filings

Amended Filings

Key Rules or Details for 2015

The $10,000 Threshold

Related Transactions

Taxpayer Identification Numbers (TINs)

Customer Notification Requirement

Suspicious Transactions

Record Retention

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Step 2: Gather Required Information

Step 3: Complete Form 8300

Step 4: File Within 15 Days

Step 5: Send Customer Notification

Step 6: Maintain Records

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Mistake #2: Failing to Recognize Related Transactions

Mistake #3: Missing or Incorrect TINs

Mistake #4: Confusing Cash Definitions

Mistake #5: Forgetting the Customer Notification

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Mistake #7: Failing to File When "No Profit" Is Involved

What Happens After You File

Confirmation

Your Responsibility Continues

Potential Follow-Up

Audit Trail

No News Is Good News

Customer Awareness

FAQs

Q1: What if a customer pays $9,000 in cash and then returns the next week with another $2,000—do I need to report this?

Q2: I received a $12,000 cashier’s check. Do I file Form 8300?

Q3: What penalties could I face for not filing or filing incorrectly?

Q4: Does this apply if I sell my personal car for cash?

Q5: Can I accept a large cash payment without filing if I don’t want the hassle?

Q6: What if the customer refuses to give me their Social Security Number?

Q7: A customer is paying in multiple installments. When do I count the 15-day deadline?

Thank you for submitting!

Frequently Asked Questions

Related Articles

Form 8300: Report of Cash Payments Over $10,000 Received in a Trade or Business (2015)

What Form 8300 Is For

When You’d Use Form 8300

Standard Filing Deadline

Installment Payments

Late Filings

Amended Filings

Key Rules or Details for 2015

The $10,000 Threshold

Related Transactions

Taxpayer Identification Numbers (TINs)

Customer Notification Requirement

Suspicious Transactions

Record Retention

Step-by-Step (High Level)

Step 1: Recognize a Reportable Transaction

Step 2: Gather Required Information

Step 3: Complete Form 8300

Step 4: File Within 15 Days

Step 5: Send Customer Notification

Step 6: Maintain Records

Common Mistakes and How to Avoid Them

Mistake #1: Structuring or Helping Customers Avoid Reporting

Mistake #2: Failing to Recognize Related Transactions

Mistake #3: Missing or Incorrect TINs

Mistake #4: Confusing Cash Definitions

Mistake #5: Forgetting the Customer Notification

Mistake #6: Incorrectly Calculating the 15-Day Deadline

Mistake #7: Failing to File When "No Profit" Is Involved

What Happens After You File

Confirmation

Your Responsibility Continues

Potential Follow-Up