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Cash Gifting Club - Get Your Paperwork

by Ryan Biddulph



Cash gifting is the act of privately or publicly offering a gift of cash freely, without coercion or consideration. To ensure that your gift is offered in this manner the proper paperwork must be in place with each gift.

A legitimate cash gifting club provides a gifting and non-solicitation form.

Gifting Form

A gifting statement declares the amount and recipient of your cash gift. Any property transferred is intended as a gift and not an investment. You do not expect anything in return for the gift, nor will you ask for the gift to be returned under any conditions. There is no agreement between you and the recipient of the gift.

Non-Solicitation Form

A non-solicitation form states that you are seeking to learn more about this opportunity. You are not seeking an investment opportunity. This is a private, non-solicited act on your behalf. Gift-giving is a voluntary act of your accord. Understand that your gift is a gift, and nothing else.

A Private Sharing Cash Gifting Club

Due to cash gifting’s private nature it’s imperative that a cash gifting club provide a gifting and non-solicitation form.

A cash gifting club. Benefit from the kindness of like-minded people.

- Photo flickr.com/photos/kalavinka/

  • That is interesting ... I live in Canada so I suspect that gift giving may have some different rules. I know that I can "gift" annually $10K to each of my children and that amount is tax exempt for them (not sure how it impacts my tax since it is not a charity donation, my tax accountant handles that).
  • Hi Valentina, I know that there are differences between US IRS regulations and Canada's taxing body. I'm not as familiar with Canada's tax laws though. When in doubt, or when not in doubt, leave tax matters to the accountant :)
  • Never knew all that's involved with cash gifting. It's amazing how much involvement the government has even if I decide to give a significant gift to a family member.
  • It's important to have the proper paperwork in place with each gift because the government is watching. I feel that if more people gave from the heart without ulterior motives the government wouldn't have as much involvement in the gift-giving process. That being said, as long as the 2 forms are signed and dated everything is on the up and up.

    Gifiting is admittedly a hyped-up activity; I aim to provide the facts about this practice and let people decide if it's for them or not.
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