IRS Form 8300 for Employees Training Course

If your job involves accepting payments from customers, you're on the front lines of a critical federal compliance effort! This training is essential because you play the most important role in helping your company meet its legal obligations and prevent involvement in criminal activity.

The law requires any "person" in a "trade or business" who receives more than $10,000 in cash in a single transaction, or in related transactions, to file IRS Form 8300. This rule is rooted in the government's effort to combat money laundering and other financial crimes. Criminals often try to launder illegal money by purchasing legitimate, high-value goods or services—like vehicles, jewelry, or travel—with large cash payments. Your accurate reporting creates a paper trail that assists law enforcement in tracing this illicit money.

You'll gain a mastery of the key definitions that trip up many, starting with what exactly "cash" means for this form. It's not just currency; it also includes certain monetary instruments—specifically cashier's checks, bank drafts, traveler's checks, or money orders with a face amount of $10,000 or less—when received in a high-value sale or any transaction where you know the customer is trying to avoid reporting. You'll learn to spot "related transactions," which can occur over a 24-hour period or even longer if connected to the same deal, so customers can't skirt the law by breaking one large payment into smaller ones (this is called structuring).

The core of your responsibility boils down to three simple, yet critical, steps: Recognize, Collect, and Report (RCR). You must politely but firmly inform the customer that federal law requires you to collect their complete information, including their Taxpayer Identification Number (TIN)—which is usually their Social Security Number for an individual. Most importantly, you must immediately report the full transaction and customer data to your manager for timely filing, which must happen within 15 days of the reportable event.

Failing to comply, especially through willful neglect or helping a customer avoid the law (tipping off), carries severe civil fines and potential criminal penalties for the company and the individual employee. This training is designed for any employee—including salespeople, cashiers, and administrative staff—who processes or receives customer payments, ensuring you know your duty to protect yourself and your company from non-compliance risks.

This program is available with Spanish and French closed captions.