Home :: Opening and Maintaining Accounts for Non-US Citizens - Multi-User Package
" Learn what is required when opening an account for a non-US citizen -  BSA, IRS "

Learn what is required when opening an account for a non-US citizen -  BSA, IRS

Details
SKU ODNonCitizenIntranet
 
Our price: $575.00
Options
Quantity 1 (On Demand Program)

Opening accounts for non U.S. citizens raises questions and presents challenges for many bankers. This program is designed to take the mystery out of the process. Terms are defined, and documentation is explained in plain language.  BSA and IRS requirements are explored in detail.  Participants are encouraged to turn to the bank’s CIP for specific allowances and instructions under the bank’s policies and procedures. Train your entire staff! 

 
Insert Video
 
 
Video: This presentation is 2 hours in length. Purchasers receive a ZIP file with all components needed to upload this program to the financial institution's intranet or other multi-user training system.  There are no restrictions on views, and there is no fixed expiration date for your purchase. This content is accurate as of the date of the recording. Continued use of out-dated material is the responsibility of the end-user. Check this website to purchase updated content.
 
Program Materials: This program includes a PDF copy of the reference manual for use as reference during and after the program. There are no restrictions on the number of copies that may be made a distributed to financial institution personnel.
 
Other Resources: The manual includes links to useful websites and free publications available for download.
 
The following questions are answered in the materials and presentation:
  • The following questions are answered in the materials and presentation:
  • What is the difference between a resident alien and a nonresident alien? 
  • How does the bank determine if the customer is a resident or a nonresident alien?
  • What does the Bank Secrecy Act require when opening an account for a non U.S. Citizen?
  • What does the IRS require when opening an account for a non U.S. Citizen?
  • Is a U.S. taxpayer identification number required at account opening?
  • What types of documentation are available?
  • When is an IRS Form W-8 BEN required? 
  • When must a Form W-8 BEN be renewed?
  • Does the bank require the customer to sign the certification on the signature card?
  • Does the bank report interest paid to non U.S citizens?
The program also includes a review of the NEW Form W-8 BENs proposed by the IRS.  The IRS is proposing one for use in certifying the foreign status of an individual, and other for use by an entity.
 

 

Speaker Bio

Laura Wilson is a principal with Pegasus Educational Services, LLC. She is a gifted trainer who proves learning can be fun. Audiences routinely comment that her recollection of material content and sense of humor are unique among presenters on technical topics.

Her career in training on banking related issues began in 1987. At one time she served as the regulatory compliance trainer for a $3 billion savings bank. Later, she was a senior consultant and full-time trainer for a regional consulting firm for financial institutions.

She has served on the faculty of the OTSí Level I Compliance School and the FDICís Bank Operations and Compliance School for examiners. In addition to presenting seminars for 17 state banking associations, she has been an instructor at compliance schools sponsored by the Iowa, Kentucky, Texas and Pennsylvania bankers associations. She is also a member of the American Society for Training and Development.