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Top 10 Common Interest Reporting Errors on Nonresident Alien Accounts

Don't get caught making common errors that put your compliance at risk! Join us for an urgent and engaging program that will reveal the secrets to setting up NRA accounts correctly. From the W-8BEN to the 1042-S interest reporting, you'll learn everything you need to know to avoid costly mistakes and ensure accurate reporting to the IRS. Don't miss this chance to protect yourself from liability and increase your compliance. Enroll now and join the fight against NRA account errors.

OnDemand
Recorded Tuesday,
April 18th, 2023
Presented by Deborah Crawford
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Deposit
  • Deposit Accounts
  • Deposit Compliance
  • Reporting
  • Transaction Compliance
  • Branch Manager
  • Compliance Officer
  • Deposit Operations Manager/Specialist
  • New Accounts Representative
  • Private Banker
  • Risk Manager
  • Trainer

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These and many other errors set up NRA accounts incorrectly so that you report the interest incorrectly to the IRS. It begins with the W-8BEN and ends with the 1042 S interest reporting. If you miss this program you may continue to make common errors that cause you liability and lack of compliance.

What You'll Learn

  • What is a US Person?
  • Is it okay just to use a US TIN?
  • Why do we have to get FTINs?
  • What if we don’t track W-8BEN expirations?
  • What if we don’t get FTINs?
  • Who are the countries that we report interest on customers on the 1042S?

Who Should Attend

Deposit Operations, Deposit Compliance, Branch Administration, New Accounts, Training, Personal Bankers, and anyone who opens accounts for Nonresident Aliens needs to take this course.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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