University Resources, Operations and Policies

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    IRS Form 8300


    Policy Statement

    The policies and procedures set forth in this document are intended to assist and guide the activities of University personnel related to completion of the IRS Form 8300.


    Reason for Policy

    These policies and procedures are intended to provide a standardized and consistent approach to completion of the IRS Form 8300.


    Who Is Governed by this Policy

    Staff


    Policy

    I. Who must file

    Each person engaged in a trade or business who in the course of that trade or business, receives more than $10,000 in cash in one transaction or in two or more related transactions, must file Form 8300.

    II. Definitions of Cash

    The term “cash” means the following:

    A. U.S. and foreign coin and currency received in any transaction.
    B. A cashier’s check, money order, bank draft, or traveler’s check having a face amount of $10,000 or less that is received in a designated reporting transaction or that is received in any transaction in which the recipient knows that the instrument is being used in an attempt to avoid the reporting of the transaction under either section 6050I or 31 U.S.C. 5331. Note. Cash does not include a check drawn on the payer’s own account, such as a personal check, regardless of the amount.

    III. When to file

    File Form 8300 by the 15th day after the date the cash was received. If that date falls on a Saturday, Sunday, or legal holiday, file the form on the next business day.

    IV. Where to file

    File the form with the Internal Revenue Service, Detroit Computing Center, P.O. Box 32621, Detroit, MI 48232.

    V. Statement to be provided

    You must give a written or electronic statement to each person named on a required Form 8300 on or before January 31 of the year following the calendar year in which the cash is received. The statement must show the name, telephone number, and address of the information contact for the business, the aggregate amount of reportable cash received, and that the information was furnished to the IRS. Keep a copy of the statement for your records for five years.


    Definitions

    This policy does not have definitions associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.


    Forms

    This policy does not have forms associated with it at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.


    Related Information

    This policy does not have related information at this time. Upon periodic policy review this area will be evaluated to determine if additional information is needed to supplement the policy.


    Contact

    Salim Amin
    p – 516.877.3472
    e – amin@adelphi.edu


    Document History

    • Last Reviewed Date: December 31, 2017
    • Last Revised Date: December 31, 2017
    • Policy Origination Date: Unknown                

    Who Approved This Policy

    Brady Crook, Vice President, University Advancement

     

    Schools/Departments:

  • Office of University Advancement
  • Categories:

  • Fundraising
  •  
     
     
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