Current through September 30, 2024
Section 1.6050I-0 - Table of contentsThis section lists the major captions that appear in §§ 1.6050I-1 and 1.6050I-2 .
§ 1.6050I-1 Returns relating to cash in excess of $10,000 received in a trade or business. (a) Reporting requirement. (1) Reportable transaction. (ii) Certain financial transactions.(2) Cash received for the account of another.(3) Cash received by agents. (b) Multiple payments. (1) Initial payment in excess of $10,000.(2) Initial payment of $10,000 or less.(c) Meaning of terms. (1) Cash. (i) Amounts received prior to February 3, 1992.(ii) Amounts received on or after February 3, 1992.(iii) Designated reporting transaction.(iv) Exception for certain loans.(v) Exception for certain installment sales.(vi) Exception for certain down payment plans.(4) Travel or entertainment activity.(d) Exceptions to the reporting requirements of section 6050I. (1) Receipt of cash by certain financial institutions.(2) Receipt of cash by certain casinos having gross annual gaming revenue in excess of $1,000,000. (ii) Casinos exempt under 31 CFR 1010.970(c) .(iii) Reporting of cash received in a nongaming business.(3) Receipt of cash not in the course of the recipient's trade or business.(4) Receipt is made with respect to a foreign cash transaction. (e) Time, manner, and form of reporting. (3) Manner of reporting. (iii) Retention of returns.(f) Requirement of furnishing statements.(3) When statement is to be furnished.(g) Cross-reference to penalty provisions.(1) Failure to file correct information return.(2) Failure to furnish correct statement.§ 1.6050I-2 Returns relating to cash in excess of $10,000 received as bail by court clerks.(a) Reporting requirement.(c) Time, form, and manner of reporting.(3) Manner of reporting. (ii) Verification of identity.(d) Requirement to furnish statements.(1) Information to Federal prosecutors.(2) Information to payors of bail. (e) Cross-reference to penalty provisions.T.D. 8652, 61 FR 7, Jan. 2, 1996, as amended by T.D. 8974, 66 FR 67687, Dec. 31, 2001; T.D. 9972, 88 FR 11764, Feb. 23, 2023 T.D. 9972, 88 FR 11764, 2/23/2023