Nonresident Alien Accounts: Open Manage CIP CDD & Records

Nonresident Alien Accounts:
Opening Managing CIP CDD & Records

Tuesday, November 29, 2022
11:00 am – 12:30 pm Eastern

Do you need all the help you can get with NRA accounts?  This webinar will cover all the rules and “how tos” to keep you in compliance, but it will also provide a take-away toolkit bursting with samples, guides, and information to make the process easier.  Don’t miss it!

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Differentiate between resident aliens and nonresident aliens
  • Be familiar with identification documentation you may see at account opening
  • Compare and understand different types of tax identification numbers 
  • Accurately complete the W-8BEN in a timely manner
  • Conduct appropriate enhanced due diligence 
  • Incorporate processes into your BSA procedures
  • Correctly report NRA transactions to the IRS

WEBINAR DETAILS 

Opening and managing accounts for nonresident aliens (NRAs) can be overwhelming.  What kind of identification should you request?  What if the individual doesn’t have a Social Security number?  What initial and ongoing due diligence procedures should be incorporated into your process?  Can you open a loan?  How is year-end interest reported? 

This jam-packed session will demonstrate how to effectively identify nonresident aliens, conduct enhanced due diligence at account opening, and appropriately monitor these high-risk relationships.  You will gain important insight into proper tax reporting of NRA accounts.  Tips, tools, and sample language will be provided that you can use to update your policies and procedures.

WHO SHOULD ATTEND? 

This informative session is designed for new account representatives, branch managers, loan officers, compliance officers, BSA officers, and staff responsible for preparing consumer tax documentation.

TAKE-AWAY TOOLKIT

  • Reference tool illustrating the difference between resident and nonresident aliens
  • Sample NRA language for your BSA/AML risk assessment
  • Account opening and due diligence documentation
  • IRS reporting reference guide
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

SPEAKER

Dawn Kincaid, Brode Consulting Services, Inc.

Dawn Kincaid began her banking career while attending The Ohio State University.  She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance.  Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services.  Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer.  She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by Financial Education & Development

If you are having issues with registering online, please contact CBAO's Education, Training & Special Events Coordinator, Malia Widder, (614) 610-1877.

Registration Options (Member/Non-Member Pricing)
Live Webinar ($265/$400) – The live webinar option allows you to have unlimited connections within your institution to virtually attend the Live Webinar. The session includes question and answer sessions, handout and take-away toolkit, and the presenters contact information for follow-up, will all be emailed to you the morning of the live webinar.

On-Demand Webinar + Free Digital Download ($295/$450
– Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 2 business days after the live webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.

Both Live Webinar & On-Demand Webinar + Free Digital Download ($395/$600
– Includes Live Webinar and Recorded Webinar options above.

When
11/29/2022
Sign in or create an account to register Last day to register is 5/29/2023