Plain-English guide

Form 8300 for jewelers

Updated October 2026 · Based on 31 CFR 1010.330, 26 CFR 1.6050I-1, 26 CFR 301.6011-2 and IRS guidance

A customer pays for an engagement ring with a stack of hundreds. Another pays with two cashier's checks. Do you need to file? Form 8300 is the federal report for cash over $10,000. It applies to any trade or business, whether or not you're a covered dealer under the AML rule. For dealers, Part 1027 points straight to it (31 CFR 1027.330, referring to 31 CFR 1010.330).

1. The basic rule

If, in the course of your business, you receive more than $10,000 in currency in one transaction, or in two or more related transactions, you must file a report (31 CFR 1010.330(a)(1)(i)). The report is made on Form 8300, with timing and filing rules set by the IRS regulation at 26 CFR 1.6050I-1 (31 CFR 1010.330(e)(1)).

Note the direction: the rule is about cash you receive. Paying a walk-in seller cash for scrap gold doesn't trigger Form 8300. It may matter for your AML program, though. See our guide to buying gold from the public.

2. What counts as cash

Currency means US or foreign coin and currency (31 CFR 1010.330(c)(1)(i)). Euros and pesos count, not just dollars.

Some paper instruments also count as cash. Cashier's checks, bank drafts, traveler's checks and money orders with a face amount of $10,000 or less are treated as cash in two situations:

• when you receive them in a designated reporting transaction (31 CFR 1010.330(c)(1)(ii)(A)); or
• in any transaction where you know the instrument is being used to try to avoid reporting (31 CFR 1010.330(c)(1)(ii)(B)).

A designated reporting transaction is a retail sale of a consumer durable, a collectible, or a travel or entertainment activity (31 CFR 1010.330(c)(2)). For jewelers, two of those terms matter:

• A consumer durable is personal-use property expected to last at least a year, with a sales price over $10,000 (31 CFR 1010.330(c)(7)). A $14,000 ring fits.
• A collectible includes any metal or gem, any rug or antique, any work of art, and any stamp or coin (31 CFR 1010.330(c)(8)).

A retail sale is a sale made by a business that mainly sells to ultimate consumers (31 CFR 1010.330(c)(10)).

An example. A retail customer buys a $14,000 ring and pays with two $7,000 cashier's checks. The sale is a designated reporting transaction, so both checks count as cash. The total is $14,000, so you file.

There are exceptions, including bank loan proceeds, certain installment sales and certain down payment plans (31 CFR 1010.330(c)(3)–(5)). Check the details with your tax adviser before relying on one.

3. Related transactions and installments

A single transaction may not be broken into multiple transactions to avoid reporting (31 CFR 1010.330(c)(12)(i)). Related transactions are those between the same payer and recipient within a 24-hour period. They also include transactions over a longer period if you know, or have reason to know, that they're a connected series (31 CFR 1010.330(c)(12)(ii)).

If a customer pays $6,000 in cash in the morning and $5,000 that evening, the two payments are related. Together they're $11,000, so you file.

For installment or layaway payments, add up the cash received within one year. File within 15 days after the payment that pushes the total over $10,000. Later cash payments that exceed $10,000 within a 12-month period need further reports (31 CFR 1010.330(b)(2)–(3)).

4. The 15-day deadline

When a single payment is over $10,000, file within 15 days of receiving it (31 CFR 1010.330(b)(1); 26 CFR 1.6050I-1(e)(1)). Build the filing into your closing routine so it doesn't depend on one person remembering (recommended practice).

5. Verifying identity

You must verify the identity of the person you receive the cash from. If an agent pays for someone else, identify both the agent and the principal (31 CFR 1010.330(e)(2)).

• Most customers: use a document normally accepted for cashing checks, such as a driver's license (31 CFR 1010.330(e)(2)).
• The alien rule: if the person says they're an alien, examine a passport, alien identification card or other official document showing nationality or residence (31 CFR 1010.330(e)(2)).

If the customer refuses to give a TIN, the payment is still reportable, so the Form 8300 is still due. On a paper form, write "customer refused" in the TIN item. When e-filing, leave it blank and explain in the description or comments. Document your attempts to get it (IRS guidance, Form 8300 Reference Guide).

6. E-filing

If your business must e-file its other information returns, it must also e-file Form 8300. The trigger is filing at least 10 information returns in the calendar year, not counting Forms 8300. This applies to returns due after December 31, 2023 (26 CFR 301.6011-2(b)(3), (c)(1), (c)(4)(i), (g)). IRS guidance says a required e-filer that files on paper is treated as filing late (IRS guidance, Form 8300 Reference Guide). Ask your accountant how many information returns your business files each year.

7. The January 31 statement

You must give each person named on a Form 8300 a written statement on or before January 31 of the year after you received the cash (26 CFR 1.6050I-1(f)(1), (f)(3)). IRS guidance says the statement shows your business's name and address, a contact person and phone number, the total reportable cash you received from that person during the year, and that the information is being reported to the IRS (IRS guidance, Publication 1544).

Two cautions from IRS guidance:

• The statement must not reveal a suspicious filing. Don't mention that you checked the "suspicious transaction" box.
• No statement is required for a Form 8300 filed voluntarily.

FinCEN guidance mentions checking the "suspicious transaction" box on Form 8300 where appropriate. It also says a dealer that voluntarily files a suspicious activity report may not tell anyone involved that it did (FinCEN dealer FAQ 6). Part 1027 has no mandatory SAR rule for dealers; its SAR sections are reserved (31 CFR 1027.310–1027.320).

8. Keep copies for five years

Keep a copy of each Form 8300 for five years from the date you file it (31 CFR 1010.330(e)(3)). Store it with the ID notes, the sales record and a copy of the January 31 statement, so you can answer questions later (recommended practice).

9. Structuring: splitting payments

Structuring means breaking up cash payments to stay under the reporting line. The rules close that door in two ways. A single transaction may not be broken into multiple transactions to avoid reporting (31 CFR 1010.330(c)(12)(i)). And instruments of $10,000 or less count as cash in any transaction where you know they're being used to avoid reporting (31 CFR 1010.330(c)(1)(ii)(B)).

Watch for customers who:

• ask how much they can pay in cash "without paperwork";
• pay just under $10,000 and return for the rest over several days; or
• send different people to pay for the same piece.

Large cash payments and unusual payment methods are also red flags under the AML program rule for covered dealers (31 CFR 1027.210(b)(1)(ii)(A)). Staff should never suggest ways to stay under the limit. They should escalate to the compliance officer (recommended practice).

More guides

• AML requirements for jewelers: the full overview
• Do jewelers need an AML program?
• Buying gold from the public: the $50,000 rule
• AML risk assessment for jewelry stores
• Independent testing for jewelers

Sources

• 31 CFR 1010.330: Reports relating to currency in excess of $10,000 (eCFR)
• 31 CFR Part 1027: Rules for Dealers in Precious Metals, Precious Stones, or Jewels (eCFR)
• 26 CFR 1.6050I-1: Returns relating to cash in excess of $10,000 (eCFR)
• 26 CFR 301.6011-2: Required use of magnetic media, the IRS electronic filing rule (eCFR)
• IRS: Form 8300 and reporting cash payments of over $10,000
• IRS: Form 8300 Reference Guide
• IRS Publication 1544: Reporting Cash Payments of Over $10,000
• FinCEN: Anti-Money Laundering Programs for Dealers in Precious Metals, Stones, or Jewels, interim final rule (2005)

This guide summarizes federal rules as of the date above. State law and your own facts may add requirements. It isn't legal or tax advice, so talk to a qualified attorney or tax adviser about your situation.