12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Opening and managing accounts for nonresident aliens (NRAs) can be a daunting task. Learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these accounts. You will also gain important insight into proper tax reporting of NRA accounts. Join us for this comprehensive program on NRA account administration.
Continuing Education: Attendance verification for CE credits upon request
- How to differentiate between resident aliens and nonresident aliens
- Identification documentation you may see at account opening
- When and how to complete the W-8BEN
- BSA requirements for enhanced due diligence
- Monitoring processes to potentially incorporate into your suspicious activity monitoring procedures
- IRS reporting for NRAs
- TAKE-AWAY TOOLKIT
- Reference tool illustrating the difference between resident and nonresident aliens
- Sample NRA language for your BSA/AML risk assessment
- Account opening and due diligence documentation
- Sample W-8BEN
- IRS reporting reference guide
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
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 for your institution.
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.