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Handling Large Cash Transactions

March 11, 2024

Handling Large Cash Transactions

A reminder for businesses in handling large cash transactions: Within 15 days of a $10,000 transaction, you must use IRS Form 8300 to report the large cash transactions. If you file electronically, forms are delivered to the Financial Crimes Enforcement Network. Paper forms are submitted to the IRS.

You also generally should provide written statements to parties whose names you’ve reported by January 31 of the year following the transactions. However, if a transaction you report is suspicious, don’t provide a statement to the individual involved.

Although you aren’t required to file Form 8300 for cash transactions of less than $10,000, the IRS encourages you to report suspicious transactions of any amount.