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TRUNKING GAS
An ENERGY TRANSFERCompanyJuly 12, 2016R E C P T ^
1Mr. Bryan Dominguez
Acting Regional Supervisor
Bureau of Safety and Environmental Enforcement
Gulf of Mexico OCS Region & Atlantic Activities
1201
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What is r e c p?
REC P stands for Report of Cash Payments over $10,000 Received in a Trade or Business. It is a form used to report cash payments received by a business that exceed $10,000.
Who is required to file r e c p?
Any business or individual who receives cash payments over $10,000 in the course of trade or business is required to file the REC P form.
How to fill out r e c p?
REC P form must be filled out with information about the payer, recipient, amount of cash received, nature of the transaction, and other relevant details. It can be filed electronically or by mail.
What is the purpose of r e c p?
The purpose of REC P is to help prevent money laundering and tax evasion by tracking large cash transactions. It also aids in enforcing tax laws and regulations.
What information must be reported on r e c p?
The REC P form requires reporting of the name, address, and taxpayer identification number of the payer and recipient, as well as the amount and nature of the cash payment.
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