Monday
Feb 24
2020

Nonresident Aliens: New 2020 Tax Reporting Rules, CIP, CDD & More

Registration Options & Pricing

Please select your membership status.


Live Webinar Includes

  • One connection to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Presenter’s Contact Info for Follow-Up

Recorded Webinar Includes

  • Recording of the Live Webinar
  • Available 6 business days following Live date
  • Handout and Take-Away Toolkit
  • Available on Desktop, Mobile & Tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your credit union
  • Presenter’s contact info for follow-up
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10:00 am – 11:30 am HST
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

Are you aware of the new tax rules for nonresident aliens (NRAs) that became effective January 1, 2020? Get the lowdown on the new tax rules and other NRA compliance issues, including sample policy language, tips, and tools.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Complete the W-8BEN accurately
  • Comply with interest reporting and withholding requirements for nonresident aliens
  • Distinguish between different types of identification documentation
  • Compare and understand tax identification number types
  • Conduct enhanced due diligence

WEBINAR DETAILS

Interest reporting season is upon us and new rules effective January 1, 2020, may impact withholdings for nonresident alien accounts. IRS Publication 515 2019 requires that a W-8BEN contain the individual accountholder’s date of birth and foreign tax identification number to be valid. Are your W-8BENs up-to-date? Learn the IRS regulations and the steps needed now to ensure your interest reporting is accurate before 1042-S forms are sent and filed.

You’ll also learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these high-risk relationships. Sample language, tips, and tools to update your policies and procedures will be provided. Don’t miss this jam-packed webinar!

Attendance certificate provided to self-report CE credits.

WHO SHOULD ATTEND?

This informative session is a must for compliance officers, BSA officers, branch managers, new account representatives, and staff who prepare tax documents.

TAKE-AWAY TOOLKIT

  • IRS reporting reference guide
  • Reference tool illustrating the difference between resident and nonresident aliens
  • Sample NRA language for BSA/AML risk assessments
  • Account opening and due diligence documentation
  • Sample W-8BEN
  • Employee training log
  • Interactive quiz

DON'T MISS THIS RELATED WEBINAR!

"Updating Your CDD Program: Beneficial Ownership, Triggering Events & New SSN Verification"
Tuesday, May 19, 2020

 

NOTE:  All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

MEET THE PRESENTER

Brode Consulting Services, Inc.
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