Any person—
(1) who is engaged in a trade or business, and
(2) who, in the course of such trade or business, receives more than $10,000 in cash in 1 transaction (or 2 or more related transactions),
shall make the return described in subsection (b) with respect to such transaction (or related transactions) at such time as the Secretary may by regulations prescribe.
A return is described in this subsection if such return—
(1) is in such form as the Secretary may prescribe,
(2) contains—
(A) the name, address, and TIN of the person from whom the cash was received,
(B) the amount of cash received,
(C) the date and nature of the transaction, and
(D) such other information as the Secretary may prescribe.
Subsection (a) shall not apply to—
(A) cash received in a transaction reported under title 31, United States Code, if the Secretary determines that reporting under this section would duplicate the reporting to the Treasury under title 31, United States Code, or
(B) cash received by any financial institution (as defined in subparagraphs (A), (B), (C), (D), (E), (F), (G), (J), (K), (R), and (S) of section 5312(a)(2) of title 31, United States Code).
Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall not apply to any transaction if the entire transaction occurs outside the United States.
For purposes of this section, the term "cash" includes—
(1) foreign currency, and
(2) to the extent provided in regulations prescribed by the Secretary, any monetary instrument (whether or not in bearer form) with a face amount of not more than $10,000.
Paragraph (2) shall not apply to any check drawn on the account of the writer in a financial institution referred to in subsection (c)(1)(B).
Every person required to make a return under subsection (a) shall furnish to each person whose name is required to be set forth in such return a written statement showing—
(1) the name, address, and phone number of the information contact of the person required to make such return, and
(2) the aggregate amount of cash described in subsection (a) received by the person required to make such return.
The written statement required under the preceding sentence shall be furnished to the person on or before January 31 of the year following the calendar year for which the return under subsection (a) was required to be made.
No person shall for the purpose of evading the return requirements of this section—
(A) cause or attempt to cause a trade or business to fail to file a return required under this section,
(B) cause or attempt to cause a trade or business to file a return required under this section that contains a material omission or misstatement of fact, or
(C) structure or assist in structuring, or attempt to structure or assist in structuring, any transaction with one or more trades or businesses.
A person violating paragraph (1) of this subsection shall be subject to the same civil and criminal sanctions applicable to a person which fails to file or completes a false or incorrect return under this section.
Every clerk of a Federal or State criminal court who receives more than $10,000 in cash as bail for any individual charged with a specified criminal offense shall make a return described in paragraph (2) (at such time as the Secretary may by regulations prescribe) with respect to the receipt of such bail.
A return is described in this paragraph if such return—
(A) is in such form as the Secretary may prescribe, and
(B) contains—
(i) the name, address, and TIN of—
(I) the individual charged with the specified criminal offense, and
(II) each person posting the bail (other than a person licensed as a bail bondsman),
(ii) the amount of cash received,
(iii) the date the cash was received, and
(iv) such other information as the Secretary may prescribe.
For purposes of this subsection, the term "specified criminal offense" means—
(A) any Federal criminal offense involving a controlled substance,
(B) racketeering (as defined in section 1951, 1952, or 1955 of title 18, United States Code),
(C) money laundering (as defined in section 1956 or 1957 of such title), and
(D) any State criminal offense substantially similar to an offense described in subparagraph (A), (B), or (C).
Each clerk required to include on a return under paragraph (1) the information described in paragraph (2)(B) with respect to an individual described in paragraph (2)(B)(i)(I) shall furnish (at such time as the Secretary may by regulations prescribe) a written statement showing such information to the United States Attorney for the jurisdiction in which such individual resides and the jurisdiction in which the specified criminal offense occurred.
Each clerk required to make a return under paragraph (1) shall furnish (at such time as the Secretary may by regulations prescribe) to each person whose name is required to be set forth in such return by reason of paragraph (2)(B)(i)(II) a written statement showing—
(A) the name and address of the clerk's office required to make the return, and
(B) the aggregate amount of cash described in paragraph (1) received by such clerk.
(Added Pub. L. 98–369, div. A, title I, §146(a), July 18, 1984, 98 Stat. 685; amended Pub. L. 99–514, title XV, §1501(c)(12), Oct. 22, 1986, 100 Stat. 2739; Pub. L. 100–690, title VII, §7601(a)(1), Nov. 18, 1988, 102 Stat. 4503; Pub. L. 101–508, title XI, §11318(a), (c), Nov. 5, 1990, 104 Stat. 1388–458, 1388–459; Pub. L. 103–322, title II, §20415(a), (b)(3), Sept. 13, 1994, 108 Stat. 1832, 1833; Pub. L. 104–168, title XII, §1201(a)(9), July 30, 1996, 110 Stat. 1469.)
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Last modified: October 26, 2015