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.
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.