Program Description:
One of the more complicated aspects of opening accounts has been for nonresident aliens. All areas of the CIP get pulled into this issue including proper identification, tax identification numbers, and W-9 vs. W-8 certification. Also, the definition between a resident and nonresident alien can be a challenge. The intention of this workshop is to raise your comfort level when opening accounts for non-US accountholders.
It is highly recommended you have a copy of your financial institution's account agreement nearby to follow along during the session including a W-8BEN form.
This 2-Hour Webinar Covers:
Understanding Proper Account Opening Procedures for:
- Resident Aliens
- Nonresident Aliens
- SSN vs. ITIN
- W-8 Specifics
- OFAC Requirements
- IRA Withholding for Nonresident Aliens
Who Should Attend:
All customer contact personnel, supervisors and officers whose responsibilities include opening or managing new accounts and certificates of deposit. Excellent for supervisors or officers who have authority to "waive" documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.
Presenter:
Patrice M. Konarik, CFP® is president and founder of Sunwest Training Corp. located near Galveston, TX. She has over 25 years experience in the banking industry specializing in Deposit Accounts and IRAs, and is currently providing training in these areas on a nationwide basis. Patrice earned her BS in Management from Binghamton University in New York and has been a Certified Financial Planner™ for over 15 years. She has a down-to-earth and humorous teaching style and makes the complicated issues easy to understand.
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