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Does a wholesaler report transactions paid in US (or foreign) coins and currency only?

April 26, 2017Coins currency foreign paid report transactions wholesaler

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Does a wholesaler report transactions paid in US (or foreign) coins and currency only?

2 Answers

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Yes, if the wholesaler receives payment in the form of coins or currency. A wholesaler, however, need not report transactions paid with cashier’s checks, bank drafts, traveler’s checks, or money orders.

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Yes, if the wholesaler receives payment in the form of coins or currency. A wholesaler, however, need not report transactions paid with cashier’s checks, bank drafts, traveler’s checks or money orders.