Opening and managing accounts for nonresident aliens (NRAs) can be a daunting task. Learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these accounts. You will also gain important insight into proper tax reporting of NRA accounts. Join us for this comprehensive program on NRA account administration.
- How to differentiate between resident aliens and nonresident aliens
- Identification documentation you may see at account opening
- When and how to complete the W-8BEN
- BSA requirements for enhanced due diligence
- Monitoring processes to potentially incorporate into your suspicious activity monitoring procedures
- IRS reporting for NRAs
- Reference tool illustrating the difference between resident and nonresident aliens
- Sample NRA language for your BSA/AML risk assessment
- Account opening and due diligence documentation
- Sample W-8BEN
- IRS reporting reference guide
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
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 for your institution.
PLEASE NOTE: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.
ABOUT THE PRESENTER – Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, and coordinated internal and external audits and exams.
Originally recorded on October 10, 2018.
Recorded webinar is available until April 30, 2018.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.