Banking Non-Resident and Resident Aliens: Documentation
Banking Non-Resident and Resident Aliens: Documentation and Ongoing Monitoring Best Practices
Tuesday, November 3, 2020
12:00 pm – 1:00 pm (Eastern Time)
Because residents and nonresident aliens are taxed differently, it's important to understand the difference and how to identify/distinguish at account opening. A potential customer is considered a nonresident alien for any period they’re neither a U.S. citizen nor a resident alien for tax purposes. A potential customer is considered a resident alien for a calendar year if they meet the green card test or the substantial presence test for the year. This webinar will discuss the difference between resident and nonresident aliens and help attendees with identifying these types of relationships at account opening, understand and clarify the FFIEC Guidance on BSA for these types of relationships, and distinguish between low, moderate and high risk non-resident and resident relationships at account opening and throughout the duration of the relationship.
Topics include:
- Overview of Non-Resident vs. Resident Alien
- Documentation requirements
- Best business practices for risk rating non-resident vs. resident aliens
BONUS TAKE-AWAYS
This webinar will include a FAQ Frequently Asked Questions document.
Who Should Attend:
- BSA Officer and support teams
- Client-Facing Teams
- Deposit Operations
- Internal Auditors
- Risk Managers
- Compliance Managers
- Senior Management
Instructor
Terri Sands
Secura Risk Management / Founder
Throughout her career, Terri has served as a leader in the payments and fraud prevention industry, providing education, risk management and compliance consulting and support services geared toward the specific needs of financial organizations.
Terri is an Advanced Certified Anti-Money Laundering Specialist, an At-Risk Adult Crime Specialist and an Accredited ACH Professional. Prior to founding Secura, Terri served as co-founder of Payments Information Circle (PIC), a service organization providing payments industry education, auditing, consulting, resources, and support services to financial organizations throughout the country. Prior to her work at PIC, Terri also served as the President of GACHA, a non-profit, regional payments association where she provided strategic direction for financial institutions in the payments industry. Terri began her career in payments as a Senior Analyst with the Federal Reserve Bank of Atlanta where she provided training throughout the Sixth District and served on the Federal Reserve ACH Conversion Team that consolidated ACH Services for all branch locations in the Sixth District.
Attendance verification for CE credits provided upon request.
Webinar Sponsored by BankersHUB
If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.
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