Opening Accounts for Nonresident Aliens Webinar

It has always been challenging to open accounts for nonresident aliens and to identify the person we are doing business with.

Since the USA PATRIOT Act, Customer Identification Program (CIP) law passed, opening these accounts and covering the required documentation and identification bases makes dealing with these accounts more challenging than ever. This issue is also a Bank Secrecy Act exam “hot spot” with the regulators as nonresident alien accounts are considered to be high risk. This session will address the following questions about procedures and your bank: 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-8 reporting? What role does Office of Foreign Assets and Control (OFAC) play in your new accounts procedures? If these questions have not been answered to your satisfaction in your bank this session is a must.

What You Will Learn

  • Resident aliens versus Nonresident aliens
  • New Interest Reporting Rules finalized Jan 2 and require Foreign TINs.
  • How to complete the W-8BEN with FTINs and US TINs
  • Types of identification available – both primary and secondary
  • Sorting out social security numbers and individual taxpayer identification numbers
  • W-8 Forms
  • W-8BENE
  • Customer Identification Program requirements
  • Office of Foreign Assets and Control requirements
  • Tracking and monitoring high risk accounts
  • FATCA
  • 1042S Reporting

Who Should Attend?

This informative session is for New Accounts Representatives, Personal Bankers, Lenders, Tellers, Branch Managers and Branch Administration.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

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Related Topics

Instructor

Deborah Crawford
Deborah Crawford

Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit R... read more.

Course TitleCreditsStart DateStart TimeDelivery TypeDelivery OptionInstructor / LocationPrice
Opening Accounts for Nonresident Aliens0.25 Any AnyWebinarSix Month On-Demand Recording Deborah Crawford$295.00 Register Now
Opening Accounts for Nonresident Aliens0.25 Any AnyWebinarCD-ROM Video Recording Deborah Crawford$345.00 Register Now
Delivery Options

LIVE WEBINAR:
INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

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