Hi everyone, I’m Bette Hochberger, CPA, CGMA, and for today’s blog, I will be discussing how to file Form 8300 to report cash payments over $10,000. If your business receives cash payments of over $10,000, you are required to file Form 8300 with the IRS. This form helps the government combat money laundering and other financial crimes. Here’s a step-by-step guide to help you navigate the process:

Understand the Requirements

Businesses that receive more than $10,000 in cash in a single transaction or in related transactions must file Form 8300. This includes payments in U.S. and foreign currency, cashier’s checks, bank drafts, traveler’s checks, and money orders. The form must be filed within 15 days of receiving the payment.

Gather the Necessary Information

Before you start filling out Form 8300, ensure you have all the required information:

– Your Business Information: Name, address, and Employer Identification Number (EIN).

– Customer Information: Name, address, Taxpayer Identification Number (TIN), occupation, and the nature of the transaction.

– Transaction Details: Date of the transaction, amount received, and a description of the property or services involved.

Filling Out Form 8300

You can file Form 8300 either electronically or by paper. Here’s how:


  1. Register with the Financial Crimes Enforcement Network (FinCEN): To file electronically, you must register with FinCEN’s BSA E-Filing System.
  2. Complete the Form: Log in to the BSA E-Filing System and follow the instructions to complete Form 8300.
  3. Submit the Form: Once you have filled out the form, submit it electronically.

Paper Filing:

  1. Obtain the Form: Download Form 8300 from the IRS website or order a paper copy by calling the IRS.
  2. Fill Out the Form: Use black ink to complete the form. Make sure all information is accurate and legible.
  3. Mail the Form: Send the completed form to the IRS at the address specified in the form’s instructions.

Notify the Customer

You must provide written notification to the customer informing them that you have filed Form 8300 with the IRS. This notification must be given by January 31 of the year following the transaction. The notification should include your name, address, contact information, and the amount reported.

Maintain Records

Keep copies of Form 8300 and all related documentation for at least five years. This includes receipts, invoices, and any correspondence with the customer regarding the transaction. Proper record-keeping ensures you have proof of compliance if the IRS ever conducts an audit.

Stay Informed

Regulations and requirements for filing Form 8300 can change. Stay updated by regularly checking the IRS website or subscribing to IRS newsletters. Consider consulting a tax professional to ensure you are meeting all legal requirements.

Filing Form 8300 is a critical step in ensuring compliance with IRS regulations regarding large cash transactions. By understanding the requirements and following the steps outlined above, you can effectively manage your reporting obligations and help prevent financial crimes.

If you have any questions or need further assistance, feel free to schedule a meeting with us or contact the IRS directly. Proper compliance protects your business and contributes to the overall integrity of the financial system!

As always, stay safe, and I will see you next time.