Examples

Example 1. Pat Brown is the sales manager for Small Town Cars. On July 1, 1997, Jane Smith buys a new car from Pat and pays $18,000 in cash. Pat asks for identification from Jane to get the necessary information to complete Form 8300. A filled-in form is shown in this publication.

Pat must mail the form to the address shown in the form's instructions by July 16, 1997. He must also send a statement to Jane by January 31, 1998.

Example 2. Using the same facts given in Example 1, suppose Jane had arranged to make cash payments of $6,000 each on July 1, August 1, and September 1. Pat would have to file a Form 8300 by August 16 because he would have received two cash payments within one year (July and August) that total over $10,000. Pat would not have to report the remaining $6,000 cash payment because it is not more than $10,000. However, he could report it if he felt it was a suspicious transaction.

Previous| First | Next

Publication Index | IRS-Forms Main | Home