“Cash” deposits received by the settlement agent in the same transaction within a 12-month period that total more than $10,000 must be reported to the IRS on Form 8300. The completed Form 8300 is due to the IRS 15 days after the “cash” triggering the reporting requirement is received, regardless of whether the transaction has closed or not.
The regulation’s overall purpose is to track illegal activity allowing for the possibility of filing a Form 8300, even if reporting is not required. Settlement agents may file a Form 8300 voluntarily if it appears someone is attempting
