Title 26 — Internal Revenue CodeRelease 119-73not60
§6050I Returns Relating to Cash Received in Trade or Business, Etc.
Title 26 › Subtitle Subtitle F— Procedure and Administration › Chapter 61— INFORMATION AND RETURNS › Subchapter A— Returns and Records › Part III— INFORMATION RETURNS › Subpart B— Information Concerning Transactions With Other Persons › § 6050I
Summary
Businesses must tell the IRS when they get more than $10,000 in cash in one sale or in related sales. The report must be on a form the IRS sets. It must show who gave the cash (name, address, and taxpayer ID), how much cash, the date and kind of transaction, and any other details the IRS asks for. The rule does not apply if the same cash was already reported under federal bank-reporting rules or if a covered financial institution got the cash. It also generally does not apply to transactions that all happen outside the United States unless the IRS makes rules saying otherwise. “Cash” includes foreign money, certain monetary instruments as the IRS allows, and digital assets as defined in section 6045(g)(3)(D). The business must also give the person who paid a written statement with the business contact and the total cash received. People cannot try to avoid these reports by hiding transactions, forcing a business not to file, filing a false report, or “structuring” payments. Those who do so face the same civil and criminal penalties as for failing to file or filing a false report. Court clerks who take more than $10,000 in cash bail for certain serious crimes (drug crimes, racketeering, money laundering, or similar state offenses) must file a similar report naming the defendant and the people who posted the bail (except licensed bail bondsmen), give details of the cash and date, and send required written notices to the U.S. Attorney and to those who posted the bail.
Full Legal Text
Title 26, §6050I
Internal Revenue Code — Source: USLM XML via OLRC
(a)Any person—
(1)who is engaged in a trade or business, and
(2)who, in the course of such trade or business, receives more than $10,000 in cash in 1 transaction (or 2 or more related transactions),
(b)A return is described in this subsection if such return—
(1)is in such form as the Secretary may prescribe,
(2)contains—
(A)the name, address, and TIN of the person from whom the cash was received,
(B)the amount of cash received,
(C)the date and nature of the transaction, and
(D)such other information as the Secretary may prescribe.
(c)(1)Subsection (a) shall not apply to—
(A)cash received in a transaction reported under title 31, United States Code, if the Secretary determines that reporting under this section would duplicate the reporting to the Treasury under title 31, United States Code, or
(B)cash received by any financial institution (as defined in subparagraphs (A), (B), (C), (D), (E), (F), (G), (J), (K), (R), and (S) of section 5312(a)(2) of title 31, United States Code).
(2)Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall not apply to any transaction if the entire transaction occurs outside the United States.
(d)For purposes of this section, the term “cash” includes—
(1)foreign currency,
(2)to the extent provided in regulations prescribed by the Secretary, any monetary instrument (whether or not in bearer form) with a face amount of not more than $10,000, and
(3)any digital asset (as defined in section 6045(g)(3)(D)).
(e)Every person required to make a return under subsection (a) shall furnish to each person whose name is required to be set forth in such return a written statement showing—
(1)the name, address, and phone number of the information contact of the person required to make such return, and
(2)the aggregate amount of cash described in subsection (a) received by the person required to make such return.
(f)(1)No person shall for the purpose of evading the return requirements of this section—
(A)cause or attempt to cause a trade or business to fail to file a return required under this section,
(B)cause or attempt to cause a trade or business to file a return required under this section that contains a material omission or misstatement of fact, or
(C)structure or assist in structuring, or attempt to structure or assist in structuring, any transaction with one or more trades or businesses.
(2)A person violating paragraph (1) of this subsection shall be subject to the same civil and criminal sanctions applicable to a person which fails to file or completes a false or incorrect return under this section.
(g)(1)Every clerk of a Federal or State criminal court who receives more than $10,000 in cash as bail for any individual charged with a specified criminal offense shall make a return described in paragraph (2) (at such time as the Secretary may by regulations prescribe) with respect to the receipt of such bail.
(2)A return is described in this paragraph if such return—
(A)is in such form as the Secretary may prescribe, and
(B)contains—
(i)the name, address, and TIN of—
(I)the individual charged with the specified criminal offense, and
(II)each person posting the bail (other than a person licensed as a bail bondsman),
(ii)the amount of cash received,
(iii)the date the cash was received, and
(iv)such other information as the Secretary may prescribe.
(3)For purposes of this subsection, the term “specified criminal offense” means—
(A)any Federal criminal offense involving a controlled substance,
(B)racketeering (as defined in section 1951, 1952, or 1955 of title 18, United States Code),
(C)money laundering (as defined in section 1956 or 1957 of such title), and
(D)any State criminal offense substantially similar to an offense described in subparagraph (A), (B), or (C).
(4)Each clerk required to include on a return under paragraph (1) the information described in paragraph (2)(B) with respect to an individual described in paragraph (2)(B)(i)(I) shall furnish (at such time as the Secretary may by regulations prescribe) a written statement showing such information to the United States Attorney for the jurisdiction in which such individual resides and the jurisdiction in which the specified criminal offense occurred.
(5)Each clerk required to make a return under paragraph (1) shall furnish (at such time as the Secretary may by regulations prescribe) to each person whose name is required to be set forth in such return by reason of paragraph (2)(B)(i)(II) a written statement showing—
(A)the name and address of the clerk’s office required to make the return, and
(B)the aggregate amount of cash described in paragraph (1) received by such clerk.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2021—Subsec. (d)(3). Pub. L. 117–58 added par. (3). 1996—Subsec. (e)(1). Pub. L. 104–168 substituted “name, address, and phone number of the information contact” for “name and address”. 1994—Pub. L. 103–322, § 20415(b)(3), substituted “business, etc.” for “business” in section catchline. Subsec. (g). Pub. L. 103–322, § 20415(a), added subsec. (g). 1990—Subsec. (d). Pub. L. 101–508, § 11318(a), substituted heading for one which read: “Cash includes foreign currency” and amended text generally. Prior to amendment, text read as follows: “For purposes of this section, the term ‘cash’ includes foreign currency.” Subsec. (f). Pub. L. 101–508, § 11318(c), substituted heading for one which read: “Actions by payors”. 1988—Subsec. (f). Pub. L. 100–690 added subsec. (f). 1986—Subsec. (e). Pub. L. 99–514 substituted “information is required” for “information is furnished” in heading and, in text, substituted references to persons required to make a return for former references to persons making a return and references to persons whose name is required to be set forth for former references to persons whose name is set forth.
Statutory Notes and Related Subsidiaries
Effective Date
of 2021 AmendmentAmendment by Pub. L. 117–58 applicable to returns required to be filed, and statements required to be furnished, after Dec. 31, 2023, see section 80603(c) of Pub. L. 117–58, set out as a note under section 6045 of this title.
Effective Date
of 1996 AmendmentAmendment by Pub. L. 104–168 applicable to statements required to be furnished after Dec. 31, 1996 (determined without regard to any extension), see section 1201(b) of Pub. L. 104–168, set out as a note under section 6041 of this title.
Effective Date
of 1994 Amendment Pub. L. 103–322, title II, § 20415(d), Sept. 13, 1994, 108 Stat. 1833, provided that: “The
Amendments
made by this section [amending this section and section 6724 of this title] shall take effect on the 60th day after the date on which the temporary
Regulations
are prescribed under subsection (c) [section 20415(c) of Pub. L. 103–322, set out as a
Regulations
note below].” [Temporary
Regulations
under section 20415(c) of Pub. L. 103–322 were filed Dec. 12, 1994, published Dec. 15, 1994, 59 F.R. 64572, and effective Feb. 13, 1995.]
Effective Date
of 1990 Amendment Pub. L. 101–508, title XI, § 11318(e), Nov. 5, 1990, 104 Stat. 1388–459, provided that: “(1) The
Amendments
made by subsections (a) and (b) [amending this section and section 6721 of this title] shall apply to amounts received after the date of the enactment of this Act [Nov. 5, 1990]. “(2) The amendment made by subsection (c) [amending this section] shall take effect on the date of the enactment of this Act. “(3) Not later than June 1, 1991, the Secretary of the Treasury or his delegate shall prescribe
Regulations
under section 6050I(d)(2) of the Internal Revenue Code of 1986 (as amended by this section).”
Effective Date
of 1988 Amendment Pub. L. 100–690, title VII, § 7601(a)(3), Nov. 18, 1988, 102 Stat. 4504, provided that: “The
Amendments
made by this subsection [amending this section and section 6721 and 7203 of this title] shall apply to actions after the date of the enactment of this Act [Nov. 18, 1988].”
Effective Date
of 1986 AmendmentAmendment by Pub. L. 99–514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99–514, set out as an
Effective Date
note under section 6721 of this title.
Effective Date
Pub. L. 98–369, div. A, title I, § 146(d), July 18, 1984, 98 Stat. 687, provided that: “The
Amendments
made by this section [enacting this section and amending section 6652 and 6678 of this title] shall apply to amounts received after December 31, 1984.”
Regulations
Pub. L. 103–322, title II, § 20415(c), Sept. 13, 1994, 108 Stat. 1833, provided that: “The Secretary of the Treasury or the Secretary’s delegate shall prescribe temporary
Regulations
under the
Amendments
made by this section [amending this section and section 6724 of this title] within 90 days after the date of enactment of this Act [Sept. 13, 1994].” [Temporary
Regulations
under section 20415(c) of Pub. L. 103–322 were filed Dec. 12, 1994, published Dec. 15, 1994, 59 F.R. 64572, and effective Feb. 13, 1995.] Reports on Uses Made of Currency Transaction ReportsFor requirement of Secretary of the Treasury to report to Congress on number of reports filed under this section yearly, the rate of compliance with reporting requirements, the manner in which Federal agencies collect, organize and analyze such data, and sanctions imposed and indictments filed for failure to comply, see section 101 of Pub. L. 101–647, set out as a note under section 5311 of Title 31, Money and Finance. No Inference To Be Drawn From Amendment Pub. L. 100–690, title VII, § 7601(a)(4), Nov. 18, 1988, 102 Stat. 4504, provided that: “No inference shall be drawn from the amendment made by paragraph (1) [amending this section] on the application of the Internal Revenue Code of 1986 without regard to such amendment.”
Reference
Citations & Metadata
Citation
26 U.S.C. § 6050I
Title 26 — Internal Revenue Code
Last Updated
Apr 5, 2026
Release point: 119-73not60