Opening and managing accounts for nonresident aliens (NRAs) can seem
overwhelming. What kind of identification can be requested? What if the
individual doesn’t have a Social Security number? How is earned interest
reported at year-end? This informative session will explain how to effectively
identify nonresident aliens, conduct enhanced due diligence at account opening,
and monitor these high-risk relationships. You will also gain insight into
proper tax reporting of NRA accounts and be provided with sample language, tips,
and tools to update policies and procedures. Don’t miss this jam-packed webinar!
- Differentiating between resident aliens and nonresident
- Identification documentation at account opening
- Comparing and
understanding tax identification number types
- When and how to complete the
- Enhanced due diligence
- Monitoring processes to incorporate
into BSA procedures
- Reporting NRA transactions to the IRS
Dawn Kincaid, Brode Consulting Services, Inc.
Live and recorded webinar, handouts, quiz with answer key and training log are included.