Reporting Requirements : Selling to Camino Company

What we are required to tell the government when you sell to us

These reporting requirements are related to when a dealer must tell the IRS (form 1099) that you have made a sale. It is related to making sure you pay your taxes. Regardless of whether we need to file a 1099, it does NOT exempt your from paying tax on your gains. We advise you to consult a tax professional for any tax implications on a sale before you sell to us. Nevertheless, here are the industry guidelines for when we will file a 1099 to the IRS when you sell to us.

Guidelines:

• There are only certain coins or bars that trigger the issuance of a 1099-B
• When one of the required types of coins or bars are sold, a minimum amount must be sold to us to trigger the issuance of a 1099-B

Bars and Coins that require the issuance of a 1099-B:

The guidelines we give above were negotiated by the bullion and coin industry’s trade group (ICTA) in the early 1980s. However, one can find a variety of information in both the IRS rules and CME rules book regarding 1099-B reporting requirements. IRS rules for the sale of precious metals can be found on page five of this publication ( https://www.irs.gov/pub/irs-pdf/i1099b.pdf ), while the list of manufacturers whose bullion bars and coins can be delivered against a RFC (regulated futures contract) can be found in the CME rulebook.