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Course Details

Form 8300 Reporting Requirements

Webinar: ID# 1021668
Recorded CD
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About This Course:
Many business people do not understand that they may have to report cash payments they receive from their customers to the government, even when those payments are spread out over a year. They also do not understand the importance of those cash reporting requirements to the government's anti-money enforcement efforts.

This webinar will explain when companies must report cash transactions and how to complete the paperwork, which is known as a Form 8300. It will also explain how Form 8300s fit into the larger anti-money laundering system and the increased importance the government is placing on combating money laundering.

The knowledge gained can help avoid costly mistakes - failing to correctly and accurately file Form 8300s is not a minor infraction, it is a serious criminal offense that can destroy a business and result in lengthy prison sentences.

AGENDA

Form 8300 - the Who, What, Where, When and Why
Form 8300 Requirements
  • Types of Payments to Report
  • Identity of Person Delivering Cash, Including TIN
  • Identify of the Owner of the Cash, Including TIN
  • Related Transactions
  • Suspicious Transaction
  • Recordkeeping
Penalties
  • Civil
  • Criminal
The Role Form 8300 Plays in Anti-Money Laundering Enforcement
  • FinCEN
  • Identification of Suspicious Transactions
  • Track Cash Payments
  • Evidence in Criminal Prosecutions
Geographic Targeting Orders (GTOs) That Lower Reporting Thresholds
  • FinCEN's Authority to Issue GTOs
  • Reasons for Issuing GTO
  • Recent Examples of GTOs
Example of Prosecution Using Form 8300 Evidence
  • United States v. Vikram Datta
  • Businessman Operating on United States/Mexico Border
  • Black Market Peso Exchange
Conclusion
  • Increasing Emphasis on AML Enforcement
  • What May Seem Like Minor Infractions Can Carry Serious Penalties
About The Presenter

Peter M. Skinner
  • Partner in the New York office of Boies, Schiller & Flexner LLP since January 2015; previously served for ten years as an Assistant United States Attorney in the Southern District of New York
  • An experienced trial and appellate attorney whose areas of practice include corporate internal investigations, white collar criminal defense and regulatory compliance
  • Conducts regular seminars and workshops on anti-money laundering enforcement, compliance practices, and trends in white collar enforcement; wrote several publications in the same areas
  • Graduate of Boston College Law School and the University of Notre Dame
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Form 8300 Reporting Requirements
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