Event Detail

Event Description

It has always been challenging to open accounts for nonresident aliens and to identify the person we are doing business with.

Since the USA PATRIOT Act, Customer Identification Program (CIP) law passed, opening these accounts and covering the required documentation and identification bases makes dealing with these accounts more challenging than ever. This issue is also a Bank Secrecy Act exam "hot spot" with the regulators as nonresident alien accounts are considered to be high risk. This session will address the following questions about procedures and your bank: What does the law say about identifying nonresident aliens? What type of identification is being used around the country to open accounts? What are the proper procedures for W-8 reporting? What role does Office of Foreign Assets and Control (OFAC) play in your new accounts procedures? If these questions have not been answered to your satisfaction in your bank this session is a must.

What You Will Learn

• Resident aliens versus Nonresident aliens
• New Interest Reporting Rules finalized Jan 2 and require Foreign TINs.
• How to complete the W-8BEN with FTINs and US TINs
• Types of identification available - both primary and secondary
• Sorting out social security numbers and individual taxpayer identification numbers 
• W-8 Forms
• W-8BENE
• Customer Identification Program requirements
• Office of Foreign Assets and Control requirements
• Tracking and monitoring high risk accounts
• FATCA
• 1042S Reporting

Who Should Attend?

This informative session is for New Accounts Representatives, Personal Bankers, Lenders, Tellers, Branch Managers and Branch Administration.

Instructions

Live Plus Five - $265
Register for the live event and get five days access to the OnDemand Playback. You'll have opportunity to ask questions during the presentation and be free to review the content for the next five business days. Registration also includes links to presenter materials, handouts, and pdfs.

OnDemand Recording Only - $295
Includes a weblink for unlimited viewing for 6-months after the date of the webinar as well as a link to handouts. Does not include live session.

CD-ROM and Hardcopy Handouts - $345
CD-ROM plus Hardcopy Handouts. Does not include live session.

Live Plus Six - $365
Attend live; includes six months access to OnDemand playback. Combine the advantages of live attendance with an unlimited number of replays for the next six months.

Premier Package - $395
Includes all three options above. Live session, OnDemand Weblink, and CD-ROM plus Hardcopy Handouts.

Additional Locations
Want your branches to participate? Facilities within your organization will be able to participate without the travel costs of coming to one location.

Webinar (03/05/21 10:00AM - 12:00PM)

Online Registration