Opening Accounts for Non-Resident Aliens

One of the more complicated aspects of opening accounts has been for nonresident aliens. All areas of the CIP get pulled into this issue including proper identification, tax identification numbers, and W-9 vs. W-8 certification. Also, the definition between a resident and nonresident alien can be a challenge. The intention of this workshop is to raise your comfort level when opening accounts for non-US accountholders.

It is highly recommended you have a copy of your financial institution's account agreement nearby to follow along during the session including a W-8BEN form.

What You Will Learn:

Understanding Proper Account Opening Procedures for:

  • Resident Aliens
  • Nonresident Aliens
  • SSN vs. ITIN
  • W-8 Specifics
  • OFAC Requirements
  • IRA Withholding for Nonresident Aliens

Plus frequent question and answer sessions throughout this presentation.

Who Should Attend?

All customer contact personnel, supervisors and officers whose responsibilities include opening or managing new accounts and certificates of deposit. Excellent for supervisors or officers who have authority to "waive" documentation requirements. Internal Auditors and Compliance Officers will find the information exceptionally beneficial as well.