This is a standard anti-money laundering report and does not mean the purchase is illegal.
: This must be filed by the dealer if you pay with more than $10,000 in cash or cash equivalents like money orders or traveler's checks. buy a pound of gold
: These are contracts or shares representing gold, such as Gold ETFs (Exchange Traded Funds), mining stocks, or futures contracts. This is a standard anti-money laundering report and
: Documents for a bank transfer, wire, or personal check are recommended to avoid triggering cash-specific reporting requirements. IRS Reporting (Dealer's Paperwork) buy a pound of gold
While federal law doesn't require you to fill out a report just for owning gold, you will need the following for a transaction of this size: