Examiners consider nonresident alien (NRA) accounts to be high risk. Staff members are expected to be confident when identifying, documenting, and managing related procedures. This webinar will take the guesswork out of NRA accounts. It will include effective identification steps, how to conduct enhanced due diligence at account opening, and monitoring compliance, as well as important insight into proper tax reporting of NRA accounts and relevant hot topics. Join us for this comprehensive look at sound practices and related hot topics to ensure clarity in NRA account administration.
- How to differentiate between resident and nonresident aliens
- Insight into account opening and documentation
- BSA exam manual requirements for enhanced due diligence processes
- Monitoring processes to incorporate into suspicious activity monitoring procedures
- How to incorporate NRA account activity into your BSA/AML risk assessment
- IRS reporting for NRAs
ABOUT THE PRESENTER – Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending Ohio State University. She has 16 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, and coordinated internal and external audits and exams.
Originally recorded on May 23, 2017.
Recorded webinar is available until December 31, 2017.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.