Our job as a withholding agent for the IRS is more complicated than ever. Now that the new FATCA rules are in effect, establishing the account holder as a US Person and having them sign a more complicated W-9 is a difficult process. Adding the W-8BEN and W-8BENE increases the degree of difficulty.

We will look at the name control match process, the IRS CP2100 process, how your institution may begin back up withholding, and many other issues. Learn how to get the forms right at new accounts so the IRS reporting is correct and in compliance.
What You'll Learn:

• Line by line review of the W-9
• How simple errors in account set up can cause you IRS reporting problems
• What happens when name and TIN do not match? B notices and fines
• How does the IRS set up name control files?
• What happens when your customer's name changes
• What is difference in SSN, EIN and ITIN?
• What is a disregarded entity?
• How do trusts report? Revocable and Irrevocable?
• Husband and Wife on an LLC
• Why there are four different options for an LLC
• Can you use an SSN for an estate or nonprofit organization
• What are the exemption codes for corporations, public funds, IRAs? 
• IRS reporting on the 1099 Int
  

Who Should Attend:

This webinar will benefit deposit operations, deposit compliance, new accounts, bookkeeping, IRS reporting specialists, and any person who opens accounts or reports interest to the IRS.