June 12, 2023
2:30pm-4:00pm
Member Fee (Live or Recording): $165 per connection
Non-Member Fee (Live or Recording): $265 per connection
During this program we will do a line-by-line review of the forms and the subsequent tax reporting to the IRS. This program will focus on what a US financial institution has to do from the tax reporting and documentation process to be prepared for FATCA. We will also look at the impact on 1042S reporting changes for nonresident aliens. Your job as a withholding agent has never been so important and the forms emphasize your importance in the tax reporting chain that affects this country and accounts for US persons overseas.
Topics include:
- Line by line review of the W-9
- Exemption codes on the W-9 and FATCA exemption codes
- SSNs, ITINs and EINs who needs what
- IRS reporting on the 1099 Int and the 1042S
- What happens when name and TIN do not match?
- B notices and fines
- How does the IRS set up name control files?
- Line by Line Instruction on the W8BEN and W-8BEN E
- What is a nonresident alien? What if there is no country address?
- Basic understanding of FATCA and how it impacts your organization
- Documenting GIIN for foreign financial institutions
This webinar is designed for deposit operations, deposit compliance, new accounts, bookkeeping, IRS reporting specialist and any person who opens accounts or reports interest to the IRS.
Deborah Crawford is the President of gettechnical, inc. a Florida-based firm, specializing in the education of banks and credit unions across the nation. Her 35+ years of banking and teaching experience began at Hibernia National Bank in New Orleans. She graduated from Louisiana State University with both her bachelor's and master’s degrees. Deborah's specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance and Individual Retirement Accounts.