Dealers must notify customers of Form 8300 filing by Jan. 31

Dealers must notify customers of Form 8300 filing by Jan. 31

A reminder: Dealers who receive more than $10,000 in cash on a single transaction or related transactions must complete form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, and file it with the IRS. Dealers are required to notify those customers in writing by January 31, 2013, that the dealership has filed Form 8300 for an applicable cash transaction in 2012.

For more details and a sample customer notification letter, visit www.nada.org/regulations.