Member Fee: $165
Non-Member Fee: $265
Speaker: Debbie Crawford, gettechnical, inc
If you are asking your customer “Are you a US citizen?” at account opening, you might be asking the wrong question. A better question is “Are you a US Person?” These and many other errors set up NRA accounts incorrectly so that you report the interest incorrectly to the IRS. It begins with the W-8BEN and ends with the 1042 S interest reporting. If you miss this program you may continue to make common errors that cause you liability and lack of compliance.
Topics include:
- What is a US Person
- Is it okay just to use a US TIN
- Why do we have to get FTINs
- What if we don’t track W-8BEN expirations
- What if we don’t get FTINs
- Who are the countries that we report interest on customers on the 1042S