Understand the importance of getting a correct SSN or EIN for member accounts and what to do if the new member doesn’t have a tax identification number.

While credit unions don't pay Federal income tax, the Internal Revenue Service does impact credit union operations because of Taxpayer Identification Number certification. In this webinar, you will look at the different identification numbers a member may use on an account, when a member may not have a U.S. government issued identification number and what can happen if credit unions fail to get proper identification numbers.

Topics to be discussed include:

Different Taxpayer Identification Numbers:

• Social Security Numbers (SSN)
• Employer Identification Numbers (EIN)
• Individual Taxpayer Identification Numbers (ITIN)

W-8BEN Form:

• Who can file a W-8BEN
• How long is a W-8BEN valid
• What does the credit union do if presented with a W-8BEN

Backup Withholding:

• When does backup withholding come into play
• What must the credit union do when notified to backup withhold

Just like in face-to-face classes, CUNA Webinars allow you to see and hear a presentation, ask questions of the instructor, and refer to handouts. You need only a speakerphone and computer with Internet connection. With a computer projection screen, it's easy to provide this training to a whole roomful of staff! When you register for an event, the connection information will be e-mailed to you 24-48 hours before the event. If you are registering for an event the day it is being held, please call 800-356-9655, ext. 4249 or e-mail training@cuna.coop for assistance.

Did you know...in addition to attending this event live, your tuition includes six months of unlimited access to the archived (recorded) event within 48 hours of the live event for your entire credit union. See the archived events available to you and your credit union.

CUNA Webinars use Adobe Connect to provide an interactive and convenient online learning environment. Whether you are a first time Adobe Connect user, or simply need a refresher, take a short tour. You'll learn how to effectively interact with the presenter and your peers during live webinars.

Can't attend at this time? Click here for the archived version.

This webinar is designed for credit union frontline staff.

Affiliation with CUNA/League is required for attendance.

Kristen Tatlock, CUCE
Kristen is Vice President of COMPASS 4 CUs, LLC, a credit union service organization owned by Belvoir FCU, where Kristen serves as senior compliance officer. COMPASS specializes in providing compliance and regulatory assistance to credit unions of all sizes. Kristen began her career with COMPASS in February 2011. Prior to joining the COMPASS team, she was the compliance and regulatory affairs director for the Virginia Credit Union League for more than 20 years. Kristen was responsible for providing compliance assistance to credit unions through publications, training and direct contacts. She developed all of the compliance training programs used by league staff and served as the liaison to the league’s Regulatory Response Committee and Resolutions Committee.

Kristen is a CUNA certified Credit Union Compliance Expert (CUCE) and a certified Bank Secrecy Act Compliance Specialist (BSACS). She has presented programs for CUNA’s national Regulatory Compliance Schools, as well as the Delaware, Georgia, Kentucky, Montana, North Carolina, Ohio, South Carolina and Virginia Leagues.

Cancellations received in writing (via fax 608-231-4327) before the end of business on April 4, 2012 are eligible for a refund of the amount paid minus a $50 administrative fee. No refunds will be granted for cancellation requests received after April 4, 2012. Substitutions are accepted anytime prior to the start of the program at no additional cost. Simply fax event and contact information, listing the new participant and who they will be replacing. Cancellation fees do not apply for free or complimentary programs.