Tuesday, November 26, 2013
10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET
Dealing with nonresident alien accountholders adds another layer of issues to account opening, maintenance, and reporting. Who is considered a nonresident alien? What questions should be asked at account opening, not only for compliance purposes, but also to ensure we can provide the needed services (e.g., foreign wire and ACH capability)? Who is eligible to complete a W-8BEN? What are the IRS 1042-S reporting requirements? What is the difference between a Social Security number and an ITIN? This webinar will provide the insight you need to handle these issues effectively and still provide great member service.
Continuing Education: Attendance verification for CE credits upon request
- Types of identifying numbers that can be utilized for CIP compliance
- Tax reporting issues for nonresident aliens
- Acceptable forms of identification when someone does not have a U.S. state-issued driver’s license or ID card
- Special red flags for money laundering and terrorist financing
- Enhanced customer due diligence (CDD) and PEP status
- OFAC compliance
- TAKE-AWAY TOOLKIT
- Internet resources
- CDD checklist and red flags for nonresident aliens
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for membership officers, tellers, teller supervisors, back office staff responsible for IRS reporting, BSA officers, and OFAC officers.
Webinar content is subject to copyright and intended for your individual credit union’s use only.
MEET THE PRESENTER
Mary-Lou Heighes, CUCE
Compliance Plus, Inc.