UD announces new process for cash payments on student bills
9:14 a.m., Aug. 12, 2014--The University of Delaware has announced that students or parents attempting to make a cash payment on a UD student bill may encounter an additional step on campus.
The University is required by law to report receipt of more than $10,000 in cash (in one or more payments) over the course of a calendar year to the Internal Revenue Service by filing an IRS Form 8300.
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Under this IRS regulation, money orders, cashier's checks, and traveler's checks are considered cash payments.
Effective immediately, all cash transactions in the amount of $2,500 or more will be evaluated for applicability and payers may be required to complete a Cash Payment Transmittal Form at the time of payment.
Personal and corporate checks are not considered cash payments.
Students will be notified by the University Cashier’s Office once a Form 8300 has been filed.
For additional information, contact Sondra Wagner at 302-831-2570 or via email at email@example.com.