Opening Accounts for Nonresident Aliens
StreamedNov 10, 2021Duration90 minutes
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Special requirements. CIP. Tax reporting. Foreign taxpayer identification numbers.
You need to know about all these issues and more when opening accounts for people who are not US citizens. You also must be able to differentiate between resident and nonresident aliens. Get the knowledge you need with this jam-packed webinar.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Distinguish when a consumer is a resident alien or nonresident alien
- Properly set up the W-8BEN for interest-bearing accounts
- Identify which countries require a foreign taxpayer identification number
- Start backup withholding even without proper documentation
- Run your customer identification program
It all starts at account set up. Nonresident alien accounts have special requirements. In addition, the rules became more complex last year with the new requirement for a foreign taxpayer identification number. Open these accounts with ease, beginning with this webinar that will explain how to:
- Set up interest- and noninterest-bearing accounts on your signature cards and your system
- Determine when the applicant is a nonresident alien
complete the W-8BEN and all its fields
WHO SHOULD ATTEND?
This informative session will benefit staff in new accounts, branch operations, deposit compliance, and training.
- Withholding manual
- NRA procedures
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.
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