Opening NRA Accounts
November 15, 2023
Live Webinar:
DateNov 15, 2023Duration90 minutes
12:00 PM PST01:00 PM MST
02:00 PM CST03:00 PM EST
- Unlimited connections for your institution
- Available on desktop, mobile & tablet
- Take-away toolkit
- Presenter’s contact info for questions
On-Demand Webinar:
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
New accounts acumen is one of the keys to creating a solid and lasting accountholder relationship and staying in compliance.
This is
especially true when it comes to nonresident alien accounts. Don’t get tripped
up by the different account opening requirements. This session is your ticket
to success.
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Complete a W-8BEN correctly
- Identify nonresident alien (NRA) accountholders and gather risk-based information
- Ask questions related to the source of funds and country location
- Understand the use of a foreign tax identification number for interest-bearing accounts
- Set NRAs up in your system to report correctly to the IRS
WEBINAR DETAILS
Opening accounts for nonresident aliens and
identifying the person with whom you are doing business has always been
challenging. Since the USA PATRIOT Act customer identification program (CIP)
law passed, opening these accounts and obtaining the required documentation and
identification is trickier than ever. This is also a BSA exam "hot
spot" with regulators because NRA accounts are considered high risk. What
does the law say about identifying nonresident aliens? What type of
identification is being used around the country to open accounts? What are the
proper procedures for W-8BEN and 1042-S completion? What role does the Office
of Foreign Assets Control (OFAC) play in your new accounts procedures? If you
are pondering these questions or other NRA compliance issues, this session is a
can’t-miss.
WHO SHOULD ATTEND?
This informative session
is designed for new accounts personnel, BSA staff, compliance staff, trainers,
branch operations personnel, and managers.
TAKE-AWAY TOOLKIT
- Withholding handbook
- 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 institution is prohibited. Print materials may be copied for eligible
participants only.
Presented By
Gettechnical, Inc.
This Webinar Appears In
© 2023 FINANCIAL EDUCATION & DEVELOPMENT, INC