IRS Form 8300 for car dealers: when cash must be reported

When a car sale paid in cash (or cashier's checks) must be reported to the IRS on Form 8300, the 15-day deadline, the January 31 customer statement, and records to keep.

Any business that receives more than $10,000 in cash in one transaction, or in related transactions, must report it to the IRS on Form 8300. Car dealers run into this more than most, because a car is exactly the kind of sale where the IRS counts more than paper money as cash.

What counts as cash for a car sale

US and foreign coins and currency
Cashier's checks, bank drafts, traveler's checks and money orders of $10,000 or less, when used to buy a car (or other "consumer durable") priced over $10,000. The IRS calls this a designated reporting transaction
Not cash: personal checks, wire transfers, and a single cashier's check or money order over $10,000

The IRS's own example: a buyer who pays $6,000 by cashier's check and $6,000 in currency for a car has made a reportable cash payment of $12,000.

Related payments add up

Payments from the same buyer within 24 hours count as one transaction (24 hours, not one business day)
Payments spread out over time count once they pass $10,000 within one year of the first payment
Payments further apart still count if you know they're connected

Deadlines

File Form 8300 within 15 days of receiving the cash (the next business day if that falls on a weekend or holiday)
Give each person named on the form a written statement by January 31 of the next year. It must include your business name and address, a contact name and phone number, the total reportable cash, and a note that the information was reported to the IRS
Keep a copy of each form and its paperwork for at least five years

Paper or electronic?

Since January 1, 2024, a business that has to file 10 or more other information returns in a year (such as 1099s and W-2s) must file Form 8300 electronically. Forms 8300 themselves don't count toward the 10. Smaller filers may still choose paper or electronic.

Never split a payment to avoid the form

Breaking a payment into smaller pieces to stay under $10,000 is called structuring, and it's illegal, for the buyer and for a business that helps. If a buyer asks to do that, don't. Willfully not filing is a crime, and late or wrong filings carry penalties per form.

Make it hard to miss

The risk is usually not dishonesty but a busy week: a deposit in cash on Monday, the rest by cashier's check on Tuesday, and nobody adds it up. Write cash and cashier's-check amounts on every deal, add up each buyer's payments over the past year, and set a reminder for the 15-day deadline.

Source: IRS Form 8300 Reference Guide. Updated October 2026.

General information in plain English, checked against the sources named when we wrote it. It isn't legal, tax or professional advice, and rules change: for your own business, check the official source or ask your accountant or attorney. See our website terms.