What we are required to tell the government

When you buy from us

The reporting requirements have evolved from Anti-Money Laundering laws over the last few decades. Basically, it helps the government find and prosecute individuals or organizations that are committing crimes and/or trying to make dirty money clean.

What is reportable?

If it is a cash transaction (defined below) that is:

Over $10,000
- Received in one lump sum or
- Installment payments over the course of a year (starts from the first payment) that total more than $10,000
From the same person
Received in a single or related transaction (defined below)

What is considered CASH?

US or foreign coins or currency
Cashier’s checks, money orders, bank drafts or traveler’s checks that are LESS than $10,000 in face value.

What is NOT considered CASH

Any payment that is drawn out of an individual’s personal account is NOT considered cash. This includes bank wires, ACH payments, personal checks, credit card, debit card or paypal payments.
It is currently unclear whether BitCoin is considered cash
Some examples of both reportable and non-reportable transactions are: