Form 8300 Resource – Valid through August 31, 2021
Complimentary for ACCCE Members, log in to apply the discount.
In the United States of America, commercial cannabis businesses must be aware of the Internal Revenue Service (IRS) requirements for Form 8300 when receiving over $10,000 in cash for a single or related transaction.
If you intentionally disregard the requirement to file a correct Form 8300 by the date it is due, the penalty is the greater of $25,000, or the amount of cash you received and were required to report (up to $100,000). There are criminal penalties for willful failure to file Form 8300; willfully filing a false or fraudulent Form 8300; stopping or trying to stop Form 8300 from being filed; and setting up, helping to set up, or trying to set up a transaction in a way that would make it seem unnecessary to file Form 8300. Criminal penalties include fines up to $500,000, or imprisonment up to five years, or both.
CorCom, an ACCCE Thought Leader Alliance Member, is offering a 30-minute review on Form 8300, a $125 value.
This 30-minute session includes:
- Review of current P&P. Please have available:
- Procedures to address Form 8300, if any
- Training requirements, if any
- Review of past transactions to check for noncompliance. Please have available:
- Two months of cash receipts
- Two months of bank statements
- Answers to Form 8300 questions
Members also receive the following benefits for future consultations :
- Form 8300 Risk Assessment – 20% off standard price
- Form 8300 policy and procedure – 20% off standard price
- Combined risk assessment and Form 8300 policy and procedures for 25% off standard price
Note: ACCCE members can download CorCom’s Form 8300 proposal here. To access the document and contact info, click on the “Add to Cart” button and follow the prompts.