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W-9s, W-8BENs and IRS Mismatches Webinar

April 30, 2024 • 10:00 am - 12:00 pm

This program will focus on what U.S. financial institutions must do in the tax reporting and documentation process for FATCA. We’ll do a line-by-line review of important forms and the subsequent tax reporting to the IRS, and also look at the impact of 1042S reporting changes for nonresident aliens.

Your job as a withholding agent has never been so important! The W-9 and W-8BENs forms emphasize your vital role in the tax reporting chain that affects this country and accounts for U.S. persons overseas. In this webinar, we’ll go in-depth on these forms to elevate your understanding. We’ll also answer common questions, such as What is a nonresident alien? and What if there is no country address? You’ll also come away with a basic understanding of FATCA and how it impacts your institution.

What You’ll Learn:
– Line by line review of the W-9
– SSNs, ITINs and EINs
– What happens when name and TIN do not match?
– How does the IRS set up name control files?
– Exemption codes on the W-9 and FATCA
– IRS reporting on 1099 Int and 1042S
– B notices and fines
– Documenting GIIN for foreign financial institutions

Who Should Attend?
This webinar is designed for deposit operations, deposit compliance, new accounts, bookkeeping, IRS reporting specialists and any person who opens accounts or reports interest to the IRS.