Webinar: Compliance Update on Nonresident Alien Accounts: Opening, Tax ID Numbers, IRS Issues & More

Start: 3:00 pm
End: 4:30 pm
Event Days: 11/26/2013 - 11/26/2013

Dealing with nonresident alien accountholders can add complex issues to account opening, maintenance and reporting. Who is considered a nonresident alien? What questions should be asked at account opening? 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.

About This Session:     

This webinar will cover the following topics:

  • 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
  • Office of Foreign Assets Control compliance
  • TAKE-AWAY TOOLKIT with Internet resources, a CDD checklist, red flags for nonresident aliens, an employee training log and a staff quiz/answer key

Who Should Participate:

Membership officers, tellers, teller supervisors, OFAC officers, BSA officers and back office staff responsible for IRS reporting

About the Presenter:

Mary-Lou Heighes, CUCE, Compliance Plus, Inc.

Compliance Plus, Inc. president/founder Mary-Lou Heighes has been involved in the credit union movement since 1989, including five years working in credit unions and seven years with the California Credit Union League, where she provided compliance assistance and advised credit unions of regulatory changes. Since founding Compliance Plus, Inc. in 2000, Heighes has helped credit unions nationwide develop compliance programs and has delivered training and webinars throughout the country. She has also authored articles for Credit Union Magazine.

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