Nonresident Aliens: New 2020 Tax Reporting Rules, CIP, CDD & More - Details

Nonresident Aliens: New 2020 Tax Reporting Rules, CIP, CDD & More

(90-minute webinar – recording also available)

 Friday, February 21, 2020

This is a morning webinar

8:00 AM Pacific            9:00 AM Mountain

10:00 AM Central         11:00 AM Eastern

Are you aware of the new tax rules for nonresident aliens (NRAs) that became effective January 1, 2020? Get the lowdown on the new tax rules and other NRA compliance issues, including sample policy language, tips, and tools.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

• Complete the W-8BEN accurately
• Comply with interest reporting and withholding requirements for nonresident aliens
• Distinguish between different types of identification documentation
• Compare and understand tax identification number types
• Conduct enhanced due diligence

WEBINAR DETAILS

Interest reporting season is upon us and new rules effective January 1, 2020, may impact withholdings for nonresident alien accounts.   IRS Publication 515 2019 requires that a W-8BEN contain the individual accountholder’s date of birth and foreign tax identification number to be valid. Are your W-8BENs up-to-date? Learn the IRS regulations and the steps needed now to ensure your interest reporting is accurate before 1042-S forms are sent and filed.

You’ll also 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 to update your policies and procedures will be provided. Don’t miss this jam-packed webinar!

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.

TAKE-AWAY TOOLKIT

• IRS reporting reference guide
• Reference tool illustrating the difference between resident and nonresident aliens
• Sample NRA language for BSA/AML risk assessments
• Account opening and due diligence documentation
• Sample W-8BEN
• Employee training log
• Interactive quiz

       MEET THE PRESENTER

Dawn Kincaid, Brode Consulting Services, Inc.

Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 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, coordinated internal and external audits and exams, and presented for numerous state associations.

Please note:  The live webinar option allows you to have one internet connection (from a single computer terminal).  You may have as many people as you like listen and watch from your office computer.

THREE REGISTRATION OPTIONS

Note:  All materials are subject to copyright.  Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited.  Print materials may be copied for eligible participants only.

1. LIVE WEBINAR

The live webinar option allows you to have one internet connection from a single computer terminal.  You may have as many people as you like listen and watch from your office computer.  Registrants receive a website address and passcode that allows entrance to the seminar.  The session will be approximately 90 minutes, including question and answer sessions.  Seminar materials, including instructions, passcode, and handouts will be emailed prior to the broadcast.  You will need the most current version of Adobe Reader available free at www.adobe.com. 

2. RECORDED WEBINAR + FREE DIGITAL DOWNLOAD

Can’t attend the live webinar?  This option provides a recording of the live event, including audio, visuals, and handouts.  We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 6 business days after the webinar.  You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.

The recorded webinar may ONLY be ordered for 6 months following the live webinar.  In addition, the download must be completed within 6 months of the live webinar date. 

3. BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD

Options 1 and 2 described above.

 AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE