Your Credit Union’s Responsibility
as a Withholding Agent:
SSNs, EINs, & ITINs
WEBINAR OR ON-DEMAND WEB LINK
(LINK INCLUDES FREE CD ROM)

Friday,
August 19, 2011
(This is a morning webinar.)

Meet the Presenter

Deborah L. Crawford, gettechnical inc

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The IRS is scrutinizing names and taxpayer withholding information on accounts as never before. Do you thoroughly understand your credit union’s responsibilities as a withholding agent? If not, your credit union may incur penalties, and possibly be responsible for necessary withholding on an account. This webinar will review how the IRS reads names and matches taxpayer identification numbers. It will also address W-9 and W-8BEN requirements and how to resolve conflicts should they occur. Failure to understand the entire taxpayer withholding process from a financial institution’s perspective can be costly. This session will assist you with the information you need to know to be proactive in avoiding IRS taxpayer ID issues.

HIGHLIGHTS

• What are the credit union’s responsibilities as withholding agent?
• How does the IRS read account names and match taxpayer ID numbers?
• Who must complete the W-9 and W-8BEN and who is exempt?
• If an account name and taxpayer ID number does not match, what next?
• How are conflicts involving taxpayer names and ID numbers resolved?
• Is the credit union liable if the accountholder does not pay taxes due?
• How long is a W-8BEN valid?
• When and how is the member issued an EIN?

WHO SHOULD ATTEND?

This informative session would best suit new accounts representatives, compliance officers, supervisors, trainers, and any other personnel responsible for IRS taxpayer ID verification and reporting.