SSNs, EINs, and ITINs: Understanding Your Job as a Withholding Agent

This webinar will assist new accounts representatives in opening accounts and documenting the tax status. As a withholding agent of the U.S, your financial institution has an important role in back up withholding and identifying taxpayer identification numbers. It's one of your most important roles and must be handled properly at account opening.

Covered Topics:

  • Three types of social security numbers: Who gets what?
  • What is an ITIN? Who gets those?
  • How customers move from ITIN to SSN
  • When ITINs should be revoked
  • Social security number randomization
  • How the IRS matches taxpayer identification numbers
  • When do you use SSN, and when do you use EIN?
  • What to do if customer does not have TIN
  • Completing the substitute W-9 on signature card
  • Completing the W-8BEN for nonresident aliens
  • Sole proprietorships, changing marital status, Hispanic names and other common errors

Who Should Attend?

New Accounts representatives, Branch managers, Branch operations, Training, Compliance and all branch support staff