Does the government know if i buy gold?

The government does not require you to report the purchase of gold and silver. When a gold purchase is required to be reported, the dealer will report it. Form 8300 requires information about the gold buyer, including name, social security number, address, and license number. If part of the form is left blank, the grantee must send the form to the IRS.

For those who buy gold in the United States, there are some federal laws that must be specifically aware of, the regulations governing which purchases of gold should be reported to the government.

Rochelle Paker
Rochelle Paker

Personal finance specialist. Areas of expertise Banking, business, real estate, consumer credit, retirement accounts.

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