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Making Payments to Non-US Persons: Keys to IRS Compliance

Summary

Webinar Recording

Recording Price: $199.00

(Includes Proprietary Materials)

Withholding and reporting on payments made to non-U.S. vendors is more challenging than ever with the new IRS compliance focus on payments to nonresident alien individuals, foreign entities, and foreign governments. Stay compliant on the issues of documenting non-U.S. vendors, withholding on U.S. source FDAP payments to non-U.S. vendors, and completing Form 1042 and 1042-S reporting by joining us for this 60-minute webinar to discover:

  • Know the rules and exceptions for NRA vendor withholding & reporting
  • How to manage documentation due diligence
  • Techniques to effectively document foreign vendors
  • Keys to stay compliant: vendor payments & new FATCA rules
  • Ways your A/P processes can reflect FATCA withholding rules
  • * Bonus: Checklist of recommended best practices

Program Highlights

  • Keys to Stay Compliant With Foreign Vendor Payments & FACTA Updates

    • Documenting, reporting, and withholding on bundled payments
    • Withholding payments to foreign persons IRC 1441
    • How to fulfill reporting obligations via Form 1042, 1042-S
    • Keys to keep up with the latest FACTA information reporting requirements
  • What Information Do You Need to Withhold and Report Correctly?

    • Who is a beneficial owner and when can they claim reduced withholding?
    • How to handle extension requirements for 1042-S
    • Correctly using the Forms W-8: W-8BEN, W8-ECI vs. Form 8233
    • When does a tax liability occur and when to use Forms 8809 and 7004?
  • Best Practices to Record & Maintain International Vendor Documentation

    • Working with the new Form W-8BEN-E
    • Ways to establish all foreign vendors as soon as they become payees
    • Additional documentation issues of Foreign Status and Treaty Claims
  • Live Q&A - Have your questions answered on the spot!

About The Speaker

Jill Dymtrow joined CTI as a founding member in April 2007. Her extensive experience guiding US Withholding Agents and Qualified Intermediaries through the highly technical and complex compliance issues involving Section 1441 and 3406 remains unique in the industry today.

  • Ms. Dymtrow specializes in information reporting, documentation, withholding and general implementation of compliance in these areas.
  • Prior to joining the CTI, Jill specialized in information reporting and withholding as a Tax Manager at PricewaterhouseCoopers. In 2001, Jill began her 1441/3406 work with Qualified Intermediaries in preparation for the first QI Audit cycle. Starting in 2003, Jill began working with US Withholding Agents on Section 1441/3406 compliance matters similar to those affecting QIs.
  • Jill managed a number of US Withholding Agents' submissions to the IRS Voluntary Compliance Program. Large US financial institutions and investment management firms as well as energy, pharmaceutical, entertainment and biotech companies consistently rely on Jill's expertise. Jill is a member of the core group developing and designing CTI's 1441 Compliance solutions.

Program Benefits

This practical 60-minute webinar will provide you and your colleagues with the information you need to keep your organization in compliance with the IRS when making NRA vendor payments.