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SAR guidance for CBD oil sellers

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Question: 
We just found out that our customer is selling CBD oil in their business. Do I need to file a SAR because this is a cannabis related product?
Answer: 

Not necessarily. If CBD sales are legal in your state, an assessment should be made to determine if the CBD oil is derived from hemp (which is legal in most states) and if the THC level complies with federal and state law requirements. If the CBD oil is derived from marijuana, it is still illegal on the federal level. In short, you should review the applicable laws in your state and on the federal level to make a SAR determination.

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Learn more about Robin Guthridge’s

Managing Cannabis Risk webinar.

First published on 05/27/2021

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