Wednesday, January 12, 2022
Interest Reporting for Nonresident Aliens: Foreign & US Taxpayer ID Numbers
Deborah L. Crawford, Gettechnical Inc.
Nonresident alien interest reporting is a complex topic, but this important session will parse it into manageable, bite-sized portions. It will cover W-8BEN and W-8BENEcompletion and the subsequent 1042 reporting. It will delve intoChapters3 and 4reporting on the 1042-S.Join us to learn what the reporting boxes on the 1042-Sentailand how to accurately complete each one.
Wednesday, February 16, 2022
Writing New Account Procedures
Deborah L. Crawford, Gettechnical Inc.
This webinar will take the core document from the deposit accounts handbook and set up a working document so you can tailor your procedures into the framework provided. The working handbook in a Word document will save you time in the process. Find out how to blend state and federal law into an efficient new account process.
Wednesday, March 9, 2022
Opening Accounts Online: CIP, CDD, Documentation & More
Susan Costonis, Compliance Training and Consulting for Financial Institutions
When opening accounts online, E-SIGN compliance is one piece of the puzzle, while knowing the “true identity” of the customer for BSA and CIP purposes completes the process. What additional “out-of-wallet” questions should be asked when accounts are opened online? How does electronic account opening impact BSA risk assessment? Learn about the additional controls needed to protect your financial institution and red flags for reporting suspicious activity in an online environment.
Thursday, April 7, 2022
Payment Systems Bootcamp
Kimberly Ellis, UMACHA
Financial institutions regularly hire new staff due to retirement, promotion, or turnover. As part of their comprehensive training, new employees must achieve a basic understanding of the four main payment systems. This session is designed to give new operations staff that baseline understanding. It will address checks, ACH, cards, and wire participants, plus rules and key considerations for all staff. After this session, attendees will be more confident in answering accountholders’ transaction inquiries.
Wednesday, May 18, 2022
Handling Trusts & Other Fiduciary Accounts
Elizabeth Fast, Spencer Fane LLP
Opening a deposit account for a trust is substantially different–and riskier–than opening an account for an individual. Although many people inappropriately treat trust property as their own individual property, your financial institution must recognize the trust as a separate legal entity from the individual. Otherwise, trust beneficiaries may claim that your financial institution should have known that the trustee was using the deposit account for his/her individual purpose or otherwise in breach of his/her fiduciary duty.
This webinar will explain everything you need to know about opening trusts and other fiduciary accounts, including proper account documentation, authorization requirements, and red flags. In addition, you’ll learn how to reduce the risk of loss when dealing with trusts and other fiduciary accounts.
Wednesday, July 13, 2022
Deposit Operations Comprehensive Compliance, Including BSA
Mary-Lou Heighes, Compliance Plus, Inc.
There are numerous laws and regulations that affect deposit operations beginning with new account opening, including identifying accountholders under the USA PATRIOT Act, OFAC compliance, Truth in Savings, and other disclosure requirements. Once the account is opened, there are requirements regarding transactions (including holds on deposits), Bank Secrecy Act monitoring requirements, reporting and recordkeeping, rules relating to checks, electronic funds transfers, account insurance, etc. Compliance with consumer protection laws and regulations is a perennial priority with examiners and auditors. Avoiding complaints and inquiries leads to a better experience for accountholders. Understanding your duties and responsibilities can make achieving this goal almost second nature. Protecting your institution from unnecessary losses due to missteps is an added plus. Learn the dos and don’ts of handling accounts the right way with this important training.