10 Common Errors on Nonresident Alien Accounts
Are you proficient at opening, managing, and reporting on nonresident alien (NRA) accounts? Are you the “go-to” person, or do you have to seek them out when a question arises? Do you understand the reporting requirements and tax forms? This well-timed webinar will delve into these issues and procedures, increase your knowledge and proficiency, and explain the 10 most-common mistakes.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Break down the W-8BEN form and its components
- Complete system setup for good 1042S reporting
- Understand the new account process for identification of nonresident aliens
- Set up backup withholding on accounts without proper W-8BENs
- Track the expiration of W-8BENs
- Obtain foreign taxpayer identification numbers (FTINs)
- Develop new account questionnaires to help with nonresident alien account setup
WEBINAR DETAILS
Does opening accounts for nonresident aliens keep you awake at night because of the complicated W-8BEN process and the FTIN requirements on interest-bearing accounts? This program will explore 10 common mistakes and myths on nonresident alien accounts – interest-bearing or not. Learn to simplify the process for your new accounts desk, generate good reports, and properly complete W-8BENs. This timely webinar will break it all down into individual components and procedures to bring together the front-of-the-house opening and the back-of-the-house reporting.
WHO SHOULD ATTEND?
This informative session will benefit deposit operations staff, new accounts personnel, compliance professionals, risk managers, and trainers.
