Thursday, January 20, 2022
12:00 – 1:30 pm (Eastern Time)
11:00 – 12:30 pm (Central Time)
10:00 – 11:30 am (Mountain Time)
9:00 – 10:30 am (Pacific Time)
Opening and managing accounts for nonresident aliens (NRAs) can a challenge for compliance.
- What kind of identification can be accepted?
- What if the individual doesn’t have a social security number?
- How is interest earned reported at year-end?
In this timely compliance webinar, attendees learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these high-risk relationships. Attendees will gain important insight into proper tax reporting of NRA accounts. Sample language, tips and tools for updating and maintaining policies and procedures will be provided. Don’t miss this jam-packed compliance webinar!
- Differentiate between Resident Aliens and Nonresident Aliens
- Become familiar with identification documentation you may see at account opening
- Compare and understand tax identification number types
- Accurately complete the W-8BEN: When and how
- Conduct appropriate enhanced due diligence
- Monitor processes to incorporate into your BSA procedures
- Correctly report NRA transactions to the IRS
Who Should Attend?
This compliance webinar is a must for compliance officers, BSA officers, branch managers, new account representatives, and staff who prepare tax documents for your institution.
Dawn began her banking career working for a community bank, while attending The Ohio State University. She has nearly fifteen years of experience in client service, operations, information technology, administrative and board relations, marketing and compliance. Most recently Dawn served as the Senior Vice President of Bank Operations for a central-Ohio based community bank, where she created and refined the bank’s policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. She has served in the roles of Compliance, BSA/AML, CRA, Privacy and Security Officer and led training initiatives, prepared due diligence information for and completed a variety of regulatory applications and coordinated internal and external audits and exams.
1.5 CPE Credits