Non-Resident Aliens: CIP CDD Tax Reporting & More
Wednesday, June 7, 2023
2:00 – 3:00 pm (Eastern Time)
In this webinar you will learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these high-risk relationships.
Are your W-8BEN’s up-to-date? In this session we will review the IRS regulations and the steps you need to take now to ensure your interest reporting is accurate before 1042-S forms are sent out and filed.
In addition, this comprehensive webinar will demystify the complexities of NRA regulations, providing you with the essential knowledge and tools you need to ensure your bank is compliant with all relevant laws and regulations.
You will learn how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these high-risk relationships. Sample language, tips and tools you can utilize to update your policies and procedures will be provided.
Key learning outcomes:
Understanding Non-Resident Aliens: We'll define who qualifies as a non-resident alien, and outline the key differentiators between resident and non-resident aliens.
- Customer Identification Program (CIP): Learn about the CIP requirements for NRAs, including the necessary identification documents, verification processes, and record-keeping procedures.
- Customer Due Diligence (CDD): Gain insights into the five pillars of effective CDD, including the identification and verification of the beneficial owner(s), understanding the nature and purpose of customer relationships, and ongoing monitoring for reporting suspicious transactions.
- Tax Reporting for NRAs: We'll delve into the intricate world of tax reporting for non-resident aliens, covering subjects such as Form W-8BEN, withholding rates, tax treaties, and reporting obligations.
- Regulatory Updates: Stay current with the latest changes in regulations and compliance requirements relating to NRAs.
Whether you're a newcomer to the world of banking regulations for non-resident aliens or a seasoned professional looking for a comprehensive refresher, this webinar is an essential tool for developing your knowledge and enhancing your practice. Don’t miss this jam-packed webinar!
Instructor
Dawn Kincaid
Brode Consulting – Compliance Consultant
Dawn Kincaid began her banking career working for a community bank, while attending The Ohio State University. She has nearly fifteen years of experience in client service, operations, information technology, administrative and board relations, marketing and compliance. Most recently Dawn served as the Senior Vice President of Bank Operations for a central-Ohio based community bank, where she created and refined the bank’s policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. She has served in the roles of Compliance, BSA/AML, CRA, Privacy and Security Officer and led training initiatives, prepared due diligence information for and completed a variety of regulatory applications and coordinated internal and external audits and exams.
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, Malia Widder, (614) 610-1877.
| Registration (Member/Non-Member Pricing) |
|
Webinar and Playback* ($295/$445)
*Playback has no expiration.
Additional Hookup - Registering another banker from a different location ($185/$225)
|