What are the government regulations regarding the purchase, sale or storage of bullion? What are my IRS/CRA reporting obligations?
We are not required to report any purchases or sales in Canada unless you purchase $10,000 or more and pay by cash. In this case we are required to complete a Cash Declaration Form that provides information on the source of the funds. Q: Is there a limit to how much bullion I can buy or sell? A: There is no limit other than our current supply. We may not be able to provide massive quantities immediately (though we can make arrangements as needed) and we may be over-stocked and not buying at the time. (In this case, if you are willing to take a post-dated cheque then we probably will still buy.) Any purchase of $10,000 or more paid for by cash per day in one or multiple transactions will require the completion of a source of funds Cash Declaration Form in accord with Canadian laws. Q: Does J&M report my sale or purchase of bullion to any government or financial agency? A: Generally speaking … no. All customer information is kept private in house and is not sold, leased or rented to an
