Opening Accounts for Nonresident Aliens

Deborah Crawford

Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 20+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.

Thursday, May 10th, 2012
10:00 am - 12:00 pm CT

The nonresident alien market in the United States is a trillion dollar business. If your financial institution is opening accounts for nonresident aliens, you have decided to be a part of this business. There are many questions regarding deposit account opening on documents and procedures. The biggest issue is the tax reporting piece and the W-8BEN. In this program we will go from account opening to tax reporting and cover all the deposit issues in being the financial institution with a nonresident alien account. This webinar is a complete guide for opening deposit accounts for nonresident aliens.

Covered Topics:

New Accounts opening procedures and documentation
What types of documents can we take and what is the risk?
What does the BSA exam manual require for due diligence?
Understanding the difference between NRAs with social security numbers and NRAs with ITINs
What are our withholding requirements for W-8BENs, when do W-8BENs have to be updated?
Canadians and tax reporting
What does our financial institution do if the accountholder does not have a TIN? Can we still open the account and what documents can we receive?
When do we file a 1042S?
And much much more

Who Should Attend?

New accounts representatives, BSA officers, compliance officers, tax reporting personnel, branch managers, branch administration and training.

Sign Up!

6-Month OnDemand Weblink - $ 255: Includes a weblink for unlimited viewing for 6-months after the date of the webinar as well as a link to handouts. Does not include live session.
CD-ROM and Hardcopy Handouts - $ 295: CD-ROM plus Hardcopy Handouts. Does not include live session.