These and many other errors set up NRA accounts incorrectly so that you report the interest incorrectly to the IRS. It begins with the W-8BEN and ends with the 1042 S interest reporting. If you miss this program you may continue to make common errors that cause you liability and lack of compliance.
What You’ll Learn
- What is a US Person?
- Is it okay just to use a US TIN?
- Why do we have to get FTINs?
- What if we don’t track W-8BEN expirations?
- What if we don’t get FTINs?
- Who are the countries that we report interest on customers on the 1042S?
Who Should Attend
Deposit Operations, Deposit Compliance, Branch Administration, New Accounts, Training, Personal Bankers, and anyone who opens accounts for Nonresident Aliens needs to take this course.