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I have an opportunity to put a seller and a buyer together…

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Hello, I have an...

Hello, I have an opportunity to put a seller and a buyer together to purchase gold bars....I would get a commission from the sale. The bars come from South Africa. I guess you could say I would be the agent or broker....do I need a special license for that or can I just report my proceeds to the IRS to comply with reporting requirements?

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Lawyer's Assistant: Please tell me everything you can about this issue so the Lawyer can help you best. Is there anything else the Lawyer should be aware of?

Only that it is a high volume sale and the gold bars will be en route soon. My plan is to have the buyer wire funds to the sellers overseas account and then I would get my commission wired into my account.

Submitted: 2 years ago.Category: Business Law
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3/8/2016
Business Lawyer: Irwin Law, Attorney replied 2 years ago
Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 7,580
Experience: 30+ yrs. representing small business, real estate, probate
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The only regulations regarding importation of gold bullionHave to do with reporting the amount to the IRS . Here is a discussion of the regulations. These of course apply to the US fire/importer, but not to you as a broker or agent.

https://help.cbp.gov/app/answers/detail/a_id/322/~/importing-gold-coins,-medals,-and-bullion

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