§ 6050I. Returns relating to cash received in trade or business, etc.
(a)
Cash receipts of more than $10,000
Any person—
(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),
shall make the return described in subsection (b) with respect to such transaction (or related transactions) at such time as the Secretary may by regulations prescribe.
(c)
Exceptions
(1)
Cash received by financial institutions
Subsection (a) shall not apply to—
(d)
Cash includes foreign currency and certain monetary instruments
For purposes of this section, the term “cash” includes—
(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.
Paragraph (2) shall not apply to any check drawn on the account of the writer in a financial institution referred to in subsection (c)(1)(B).
(e)
Statements to be furnished to persons with respect to whom information is required
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.
The written statement required under the preceding sentence shall be furnished to the person on or before January 31 of the year following the calendar year for which the return under subsection (a) was required to be made.
(f)
Structuring transactions to evade reporting requirements prohibited
(1)
In general
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,
(g)
Cash received by criminal court clerks
(1)
In general
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)
Return
A return is described in this paragraph if such return—
(3)
Specified criminal offense
For purposes of this subsection, the term “specified criminal offense” means—
(4)
Information to Federal prosecutors
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)
Information to payors of bail
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—