Managing Accounts & Records for Nonresident Aliens: Opening, Identifying, Monitoring & Tax Reporting 2019 | Independent Bankers Association of Texas (IBAT) | 1 July 2019 |
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| Event Date |
Mon Jul 1 UTC (over 5 years ago)
In your timezone (EST): Mon Jul 1 8:00am - Mon Jul 1 12:30pm |
| Region | All |
Details
Opening and managing accounts for nonresident aliens (NRAs) can seem overwhelming. What kind of identification can be requested? What if the individual doesn’t have a Social Security number? How is earned interest reported at year-end? This informative session will explain how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and monitor these high-risk relationships. You will also gain insight into proper tax reporting of NRA accounts and be provided with sample language, tips, and tools to update policies and procedures. Don’t miss this jam-packed webinar!
Highlights:
• Differentiating between resident aliens and nonresident aliens
• Identification documentation at account opening
• Comparing and understanding tax identification number types
• When and how to complete the W-8BEN
• Enhanced due diligence
• Monitoring processes to incorporate into BSA procedures
• Reporting NRA transactions to the IRS
Who should attend?
This informative session is a must for compliance officers, BSA officers, branch managers, new account representatives, and staff who prepare tax documents.
Speakers
2019 Speaker
Dawn Kincaid
Brode Consulting Services, Inc.