Property Management
A Kansas property manager who handles more than $10,000 in cash transactions per year must comply with what federal requirement?
AFiling IRS Form 1040 Schedule C only
BImplementing Anti-Money Laundering (AML) compliance programs and filing currency transaction reports (CTRs) for cash transactions over $10,000✓ Correct
CRegistering with FinCEN as a money services business
DFiling quarterly reports with KREC
Explanation
Real estate professionals handling large cash transactions may have Bank Secrecy Act reporting obligations, including Currency Transaction Reports for transactions over $10,000 in cash.
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