SSN, EINs, and ITINs: Understanding our Job as a Withholding Agent
Did you get notification at your financial institution last year that many of your names on accounts did not match?

The IRS is seriously working the names and withholding for accounts and your responsibility as withholding agent is becoming very important. Your financial institution may incur penalties, be responsible for withholding if your financial institution does not understand how the IRS reads names and it can be costly.

New nonresident alien rules require 1042S reporting for individuals in many countries. In this program we will review taxpayer identification numbers and W-9 and W-8BEN requirements. We will look at how the IRS reads names and the process of resolving name conflicts.

Covered Topics

  • What is the financial institution’s job as withholding agent?
  • How does the IRS read names and match numbers
  • Who fills out W-9, W-8BENs and who is exempt?
  • What happens if a name and number do not match?
  • What is the process of resolving names?
  • Does the financial institution have liability and responsibility if the accountholder does not pay taxes?
  • How long does a W-8BEN last?
  • When does the customer get an EIN?


New Accounts, Compliance Officers, Back office personnel who check account opening, training and any other personnel responsible for IRS reporting.


Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 27 years of combined teaching and banking experience.

Credit Information

Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 CE Credits


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