New interest reporting rules for NRA accountsWith Deborah Crawford
- 1 Video
- 1 Multimedia
- 5 Downloads
- 1.0 hr
ONE Hour Webinar
In 2017 the W-8BEN form required Foreign Taxpayer Identification Numbers on Nonresident Alien accounts. This form change was granted transitional relief with IRS Notice 2017-46.This relief will expire on December 31, 2019 and the new FTIN interest reporting rules will kick in. Do you have Foreign Taxpayer Identification Numbers and date of birth on your nonresident alien account holders? If not, do you have a reasonable explanation that is acceptable to the IRS as to why you do not? Are you getting new W-8BENs or just updating your records?All of this will be covered in this one-hour jam packed session on foreign interest reporting.
-Completing the W-8BEN—US TINs and FTINs who gets what
-Who is in and who is out—nonresident aliens?
-What is a Foreign Taxpayer Identification Numbers?
-What does a US TIN on a NRA account get you?
-IRS notice 2017-46 which provided temporary relief to the 2017 rules now expiring
-30% Backup withholding rate and treaty rates
-Countries approved by the IRS who do not have taxpayer identification numbers
-Procedures for obtain FTIN in lieu of new W-8BEN
Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 27+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.