BankNewswatch

W-9s, W-8BENs and IRS Mismatches

Tuesday, April 30th, 2024 10:00 am - 12:00 pm CT

A BankWebinars.com Program

Click Here to register for program $299.00

Click Here to register for program and receive recording $449.00

This program will focus on what U.S. financial institutions must do in the tax reporting and documentation process for FATCA. We'll do a line-by-line review of important forms and the subsequent tax reporting to the IRS, and also look at the impact of 1042S reporting changes for nonresident aliens.

Your job as a withholding agent has never been so important! The W-9 and W-8BENs forms emphasize your vital role in the tax reporting chain that affects this country and accounts for U.S. persons overseas. In this webinar, we'll go in-depth on these forms to elevate your understanding. We'll also answer common questions, such as What is a nonresident alien? and What if there is no country address? You'l also come away with a basic understanding of FATCA and how it impacts your institution.

What You'll Learn

  • Line by line review of the W-9
  • Exemption codes on the W-9 and FATCA
  • SSNs, ITINs and EINs
  • IRS reporting on 1099 Int and 1042S
  • What happens when name and TIN do not match?
  • B notices and fines
  • How does the IRS set up name control files?
  • Documenting GIIN for foreign financial institutions

Instructors

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures.