On August 30, the IRS formally announced that all Form 8300s must be eFiled (with limited exceptions) as of January 1, 2024. The IRS said the change is intended to make filing and communication regarding 8300 easier and quicker. In order to file electronically, all dealers will need to register with the Financial Crimes Enforcement Network’s BSA eFiling system (bsaefiling.fincen.treas.gov/main.html). Once approved, the dealership representative will sign onto the BSA eFiling system and complete Form 8300, just like a blank PDF. Dealerships are encouraged to register well ahead of the January 1 deadline in case there are any technical difficulties. Form 8300 Process Changes Electronic Filing and What to Know BY PHIL CRAFT, CPA AND JEN MOYLAN, LEAD CONSULTANT AT WITHUM 20 new jersey auto retailer
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