Goldman Fischer Metals Desk

Our Commitment to Compliance

As a U.S.-based dealer in precious metals, Goldman Fischer is fully committed to complying with all applicable federal and state laws. Our operations adhere strictly to the regulations set forth by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the Internal Revenue Service (IRS), including the Bank Secrecy Act and the USA PATRIOT Act.

Transaction Reporting Requirements

Please be aware that we are required by law to report certain transactions to federal authorities. These reporting requirements are not optional and are in place to help prevent money laundering and other illicit activities.

Cash Reporting (IRS Form 8300 & FinCEN CTR)

Federal law requires us to report any cash transaction or series of related cash transactions totaling more than $10,000. This includes payments made with physical currency (cash) or certain monetary instruments. We are also required to report suspicious activities, including any attempts to structure transactions to avoid these reporting thresholds.

Sales Reporting (IRS Form 1099-B)

When you sell certain types of precious metals to us, we may be required to file a Form 1099-B with the IRS to report the proceeds of the sale. This is similar to the reporting done by brokerage firms for stock sales. We encourage you to consult with a tax professional regarding your specific reporting obligations.

Suspicious Activity Reports (SAR)

We are required to file Suspicious Activity Reports (SARs) with FinCEN when we know, suspect, or have reason to suspect that a transaction involves funds derived from illegal activity, is designed to evade reporting requirements, or lacks a lawful purpose. We are prohibited by law from informing customers that a SAR has been filed.

Customer Identification Program (CIP)

To comply with federal law, we have implemented a robust Anti-Money Laundering (AML) and Customer Identification Program (CIP). For certain transactions, we are required to collect and verify personal identification information. This may include a copy of your government-issued photo ID and other relevant details. All information is handled securely and in accordance with our Privacy Policy.

Purchases $3,000+

Government-issued photo ID and proof of address required

Cash Transactions $10,000+

CTR filing required; additional documentation may be needed

Dealer Exemption & Regulatory Status

Goldman Fischer operates as a dealer in precious metals, precious stones, or jewels as defined under 31 CFR 1027.100. As a physical bullion dealer conducting spot or near-spot transactions for immediate delivery, our business model falls within the regulatory framework established by FinCEN for dealers in precious metals.

We do not offer leveraged, margined, or financed precious metals transactions. All sales are for immediate, full payment and physical delivery only. We do not provide currency exchange, money transmission, or stored value services.

The sale of physical precious metals for immediate delivery is generally exempt from money services business (MSB) registration requirements under federal law. However, Goldman Fischer voluntarily maintains compliance with BSA/AML requirements as a best practice and in accordance with FinCEN guidance for dealers in precious metals.

Legal Disclaimer

The information on this page is for informational purposes only and does not constitute legal or tax advice. We strongly encourage you to consult with your own legal and tax professionals for guidance on your specific situation. Regulatory requirements are subject to change, and Goldman Fischer makes no representations regarding the completeness or current accuracy of this information beyond our own compliance obligations.

Compliance & Policies

Legal & Compliance