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W9 and W8BEN Procedures

The FATCA rules affecting foreign financial institutions also affects US financial institutions and your job as a withholding agent.

OnDemand
Recorded Tuesday,
July 25th, 2023
Presented by Deborah Crawford
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Deposit Accounts
  • Reporting
  • Compliance Officer
  • Controller/Accountant
  • Deposit Operations Manager/Specialist
  • New Accounts Representative
  • Trainer

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During this program, we will do a line-by-line review of the forms and the subsequent tax reporting to the IRS. This program will focus on what a US financial institution has to do from the tax reporting and documentation process to be prepared for FATCA. We will also look at the impact on 1042S reporting changes for nonresident aliens. Your job as a withholding agent has never been so important and the forms emphasize your importance in the tax reporting chain that affects this country and accounts for US persons overseas.

What You'll Learn

  • Exemption codes on the W-9 and FATCA exemption codes
  • SSNs, ITINs and EINs who needs what
  • IRS reporting on the 1099 Int and the 1042S
  • What happens when name and TIN do not match?
  • B notices and fines
  • How does the IRS set up name control files?
  • What is a nonresident alien? What if there is no country address?
  • Documenting GIIN for foreign financial institutions

Who Should Attend

This webinar is designed for deposit operations, deposit compliance, new accounts, bookkeeping, IRS reporting specialist and any person who opens accounts or reports interest to the IRS.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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