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Wisconsin Credit Union Foundation

Managing Accounts & Records for Nonresident Aliens: Opening, Identifying, Monitoring

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!

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Type of Event
On Demand Webinar

Who Should Attend
  • On Demand
  • Webinars
  • Compliance

Purchase

Description

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!

Learning Objectives

  • Differentiating between resident aliens and nonresident aliens
  • Identification documentation at account opening
  • Comparing and understanding tax identification number types
  • When and how to complete the W-8BEN
  • Enhanced due diligence
  • Monitoring processes to incorporate into BSA procedures
  • Reporting NRA transactions to the IRS

​Speaker

Dawn Kincaid, Brode Consulting Services, Inc.

Investment

$259.00