Form 8300 (Rev. December 2023) Checklist: Report of Cash Payments Over $10,000
Purpose and Filing Obligation
Form 8300 reports cash transactions exceeding $10,000 received in a trade or business. The form serves dual reporting functions for both the Internal Revenue Service and the Financial Crimes Enforcement Network.
A single submission satisfies the legal requirements under Section 6050I and 31 U.S.C. 5331 for both agencies. Use this form for transactions occurring after December 31, 2023, and do not use prior versions after this date.
Electronic Filing Requirements
Starting January 1, 2024, you must file Form 8300 electronically if you are required to file at least 10 information returns of any type other than Form 8300 during the calendar year. The number of Forms 8300 you file does not affect whether you must file information returns electronically.
If you file fewer than 10 information returns during the calendar year, you may file Form 8300 on paper without requesting a waiver. You retain the option to file electronically even when the minimum 10-return threshold is not met.
Definition of Cash
Cash includes U.S. and foreign coin and currency received in any transaction. Cashier's checks, money orders, bank drafts, and traveler's checks with face amounts of $10,000 or less qualify as cash under specific conditions.
These instruments are considered cash when received in a designated reporting transaction or when you know the instrument is being used to avoid reporting requirements. A designated reporting transaction includes retail sales of consumer durables, collectibles, or travel and entertainment activities.
Form Completion Steps
Check box 1a only if you are amending a previously filed Form 8300 for the same transaction. Check box 1b to voluntarily report a suspicious transaction even if the total amount does not exceed $10,000.
Complete the form in its entirety for amendments and include the amended information without attaching a copy of the original report. Check box 2 if two or more individuals conducted the transaction. Then complete Part I on page 1 for one individual and provide the same information for others by completing Part I on page 2.
Individual Information Requirements
Enter the individual's full legal name, taxpayer identification number, and complete address, including country if the person is not a U.S. resident. Enter the date of birth in MM/DD/YYYY format using eight numerals with slashes between month, day, and year.
Verify the individual's name and address by examining a document normally accepted for identification purposes, such as a driver's license, passport, alien registration card, or other official document. Enter the document type, issuing authority, and identification number without formatting or special characters.
Occupation and Taxpayer Identification
Describe the nature of the individual's occupation, profession, or business clearly and specifically without using general or nondescriptive terms such as "businessperson" or "self-employed." For retired or unemployed individuals, describe the previous occupation, such as "retired attorney" or "unemployed roofer."
You must furnish the correct taxpayer identification number of the person from whom you receive the cash. If you request but cannot obtain a taxpayer identification number within 15 days following the transaction, file the report and use the Comments section to explain why the number is not included.
Part II Person on Whose Behalf the Transaction Was Conducted
Skip Part II if the individual named in Part I is conducting the transaction on their own behalf. Check box 15 if the transaction is being conducted on behalf of more than one person. Then complete Part II on page 1 for one person and provide the same information for others by completing Part II on page 2.
If more than three persons are involved, paper filers should complete and attach a copy of Part II for each additional person. Electronic filers may add additional Part II entries up to a limit of 99.
Transaction Date and Amount Reporting
Enter the date you received the cash in MM/DD/YYYY format. If you received the cash in more than one payment, enter the date you received the payment that caused the combined amount to exceed $10,000.
Enter the total cash received as of the date the cash amount exceeded $10,000 within 12 months. Check box 30 if the amount was received in more than one payment, such as installment payments or payments on related transactions.
Payment Method Documentation
Enter the total price of the property, services, or amount of cash exchanged if different from the total cash received. Enter the dollar amount of each form of cash received, including U.S. currency, foreign currency, cashier's checks, money orders, bank drafts, and traveler's checks.
Show foreign currency amounts in U.S. dollar equivalent at a fair market rate of exchange available to the public. For cashier's checks, money orders, bank drafts, or traveler's checks, provide the issuer's name and serial number of each instrument.
Business Information Entry
Enter the business name exactly as shown on required tax filings and provide the Employer Identification Number. Sole proprietors must enter their Social Security number and also provide the Employer Identification Number if the business has one.
Enter the complete business address, including street number, city, state, and ZIP code. Clearly describe the nature of your business, such as "attorney" or "jewelry dealer," without using general or nondescriptive terms.
Signature and Record Retention
An authorized official must sign the form under penalties of perjury with printed name, title, and signature date in MM/DD/YYYY format. Provide the contact person's name and telephone number for questions or clarifications.
Attach the completed form to your filing and retain a copy for your business records for five years from the date filed. When filing electronically, save a copy of the completed form prior to submission, as the confirmation is not a substitute for the form.
Filing Deadlines and Procedures
File Form 8300 by the 15th day after the date you received the cash. If that date falls on a Saturday, Sunday, or legal holiday, file the form on the next business day.
This deadline applies to both regular and suspicious transaction filings. Multiple payments for a single transaction or related transactions require you to report when the total amount exceeds $10,000 within any 12 months.
Submission Methods
Electronically file Form 8300 using the FinCEN Bank Secrecy Act E-Filing System if you meet the electronic filing threshold. If you do not have to file electronically, mail paper forms to the Internal Revenue Service, Detroit Federal Building, P.O. Box 32621, Detroit, MI 48232.
Late filed returns must be identified by including the word "LATE" in the Comments section for electronic filings or writing "LATE" on the center top of page 1 for paper filings.
Statement Requirements
You must give a written or electronic statement to each person named on a required Form 8300 by January 31 of the following year. The statement must show the business contact information, aggregate cash amount reported, and confirmation that information was furnished to the IRS.
Do not provide statements for suspicious activity filings.
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This checklist is for educational purposes only and does not constitute tax or legal advice. Always review official IRS instructions and consult a qualified professional for guidance.
