To whom must dealers file form 8300 when a cash transaction exceeds $10,000?

Dealers are required to file Form 8300 with the Internal Revenue Service (IRS) when a cash transaction exceeds $10,000. This requirement is part of the IRS regulations aimed at preventing money laundering and other financial crimes by ensuring that large cash transactions are properly reported. The IRS needs to monitor substantial cash transactions to track potential illegal activities and ensure compliance with tax laws.

When a dealer receives more than $10,000 in cash, typically in a single transaction or related transactions, they must complete and submit this form within 15 days of the transaction. This process helps the IRS maintain a clear record of significant cash dealings, supporting transparency in financial practices.

While local governments, the State Department of Revenue, and the dealer's bank may have their own regulations and reporting requirements, Form 8300 specifically relates to the IRS's mandate for tracking cash transactions. Thus, the correct choice identifies the appropriate federal authority to whom the report must be submitted.