Does OttawaBullion report any information about transactions to any 3rd party or Government Agency?
No. We do not report ANY transaction details to anyone. All transactions are 100% private EXCEPT for this:
If any single cash transaction is over $10,000 CAD we must comply with Federal FINTRAC laws and are required to submit a form to FINTRAC.
Please read BOTH points of the following excerpt from FINTRAC GUIDELINE 7A, SECTION 3.2 for clarification:
3.2 When does a large cash transaction report have to be made?
If you are a reporting entity as described in section 2, you have to send a large cash transaction report to FINTRAC in the following situations:
- If you receive an amount of $10,000 or more in cash in the course of a single transaction. Each such transaction must be sent to FINTRAC separately, in its own report.
- If you receive two or more cash amounts of less than $10,000 each that total $10,000 or more. In this case, if you are an individual, you have to make a large cash transaction report if you know the transactions were made within 24 consecutive hours of each other by or on behalf of the same individual or entity. If you are an entity, you have to make a large cash transaction report if your employee or senior officer knows the transactions were made within 24 consecutive hours of each other by or on behalf of the same individual or entity.