Managing the Financial Risks of the IRS Form 8300 Mandates

When:  Oct 11, 2022 from 14:00 to 15:00 (ET)
Associated with  All-Member Community

Many cooperative member types pay their bills in large amounts of cash. One example is the multi-billion-dollar cannabis industry which continues to grow exponentially. Federal law prohibits financial institutions from taking cannabis industry money so states that have legalized this industry have a banking challenge. Customers have to pay in cash and Cooperatives can find themselves processing bags of it. Cooperatives must now report these certain large cash receipts using IRS Form 8300. This session focuses on these various and numerous reporting requirements that carry significant penalties for noncompliance. This session will also present best practices in designing a Cooperative-specific compliance process to avoid common and costly compliance pitfalls. 

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