Tuesday, May 23, 2017
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
Examiners consider nonresident alien (NRA) accounts to be high risk. Staff members are expected to be confident when identifying, documenting, and managing related procedures. This webinar will take the guesswork out of NRA accounts. It will include effective identification steps, how to conduct enhanced due diligence at account opening, and monitoring compliance, as well as important insight into proper tax reporting of NRA accounts and relevant hot topics. Join us for this comprehensive look at sound practices and related hot topics to ensure clarity in NRA account administration.
Continuing Education: Attendance verification for CE credits upon request
- How to differentiate between resident and nonresident aliens
- Insight into account opening and documentation
- BSA exam manual requirements for enhanced due diligence processes
- Monitoring processes to incorporate into suspicious activity monitoring procedures
- How to incorporate NRA account activity into your BSA/AML risk assessment
- IRS reporting for NRAs
- TAKE-AWAY TOOLKIT
- Reference guide illustrating the differences between resident and nonresident aliens
- Account opening and due diligence documentation
- 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 best suited for compliance officers, BSA officers, branch managers, new account representatives, and those who prepare tax documents for your institution.
PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.