The IRS recently determined state colleges and universities are required to file IRS Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business.  UC’s Office of the President (UCOP) has instructed all campuses to ensure compliance with filing IRS Form 8300.  An IRS Form 8300 must be completed and filed within 15 days of receipt when:

• A single transaction of $10,000 or more in cash (currency and coin) payments is received from a customer  
• Currency, coin, cashier’s checks, and/or money orders totaling $10,000 or more from multiple, related transactions are received from a customer

Our campus approach will be as follows:

1. Effective immediately, IRS Form 8300 must be completed upon receipt of $10,000 or more from a customer that meets the above referenced criteria. Implementation is on a prospective (going forward) basis; departments do not need to investigate prior cash payments.
2. Departments  are required to:
   1. Complete IRS Form 8300 and file with the IRS within 15 days of receipt of cash payments that meet the above referenced criteria.  Documentation of the timely filing must be maintained for audit purposes.
   2. Ensure that the IRS form is accurate and backup documentation is reasonable.
   3. Store the Form 8300 (original and copies) in a secure location and locked receptacle as the form contains personal protected information
   4. Contact Student Business Services (SBS) when a Form 8300 is filed with the IRS to receive instructions for submitting a copy of the form to the SBS secure file storage.
   5. Notify Student Business Services if a change of address is received for the recipient.
3. SBS will issue annual consolidated statements to individuals/organizations based on information reported to the IRS via Form 8300. 

When a transaction is processed requiring an IRS Form 8300, please contact SBS at sbsofc@ucr.edu for the full procedure on implementing this requirement.  Additional information and guidance on this requirement is available on the SBS website:  http://www.sbs.ucr.edu/departmental_services.html .  Please direct questions to the Director of SBS/Cashiers and our campus Cash/Credit Card Handling Coordinator, Asirra Suguitan, at asirra.suguitan@ucr.edu .