302.5 - University of North Carolina at Chapel Hill Procedure on Reporting Cash Payments Over $10,000 Received in a Trade or Business

Procedure Statement

The University is required to report to the Internal Revenue Service (IRS) the receipt of cash in excess of $10,000 in a single transaction or two or more related transactions that are received in the course of the University's trade or business.

Forms and Instructions

For each reportable transaction, IRS Form 8300, "Report of Cash Payments Over $10,000 Received in a Trade or Business," must be filed with the IRS in 15 days. The matrix in Finance Related Data 302.5.1rd, Matrix for Reporting of Cash Payments Over $10,000 provides procedural guidance to ensure compliance.

Related Data

Cash is defined as U.S currency and coins. Cash is also money orders, traveler's checks, cashier's checks or bank drafts with a face value of $10,000 or less. Any single payment of more than $10,000 with one of these instruments is not included.

A transaction is the underlying event resulting in the transfer of cash. Charitable contributions are not considered transactions. Related transactions are transactions that occur in a 24-hour period or one of a series of connect transactions. An example would be tuition payments for a semester.

Related Policies

  • Finance Policy 302 - University of North Carolina at Chapel Hill Policy on General Receipts and Deposits



  • December 1, 2013
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Article ID: 131490
Thu 4/8/21 9:10 PM
Tue 6/6/23 1:45 PM
Responsible Unit
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Finance and Budget
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University Cashier
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