AFIP Cert Quiz Questions -
IRS/FinCEN Form 8300 Cash
Reporting Rule Questions and
Answers (100% Pass)
Wire transfer constitutes cash for Form 8300 reporting.
A. True
B. False
✓ B. False
If in the course of paying for a vehicle, a customer gives a dealership seven
cashier's checks, each with a face amount of less than $10,000, but the total
amount paid is greater than $10,000, what should the dealership do?
A. File a form because it's a suspicious transaction
B. File a form because it's a cease and desist
C. File the form because it's a related transaction (24 hours)
D. Do not file the form because it's a suspicious transaction
✓ A. File a form because it's a suspicious transaction
A credit-challenged customer paid $15,000 cash down for a vehicle with the
$27,000 balance to be financed. However, no credit source would accept the
deal, even with the large downpayment, and the transaction was terminated.
In this case, _______
A. The IRS does not regulate unwound deals - dealership policy will dictate
how the situation will be handled
B. The dealership need not file the Form 8300
C. The dealership must file the Form 8300 if the someone at the dealership
was in receipt of the cash exceeding the filing requirement.
✓ C. The dealership must file the Form 8300 if the someone at the
dealership was in receipt of the cash exceeding the filing requirement.
Car Dealership filing Form 8300 must provide its identified customers with the
written statement on or before Jan. 31 of the year that immediately follows the
year the customer made the cash payment.
A. True
Master01 | October, 2024/2025 | Latest update
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