Forms W-8BEN & W-8BEN-E Processing: Compliant Vendor Maintenance
When working with foreign individuals or entities as vendors, it’s imperative that you understand the ins and outs of IRS Forms W-8BEN and W-BEN-E to avoid compliance headaches.
Don’t get caught off guard! Join our instructor-led, 75-minute event for comprehensive guidance on what to look for when accepting these forms - and when to send them back for correction.
- IRS forms collection processes for foreign vendors receiving Non-FATCA
- Four types of Taxpayment Identification Numbers (TIN) & when they’re required
- How to determine when to accept or reject Form W-8BEN & W-8BEN-E
- When & why you may want to use a substitute Form W-8BEN & W-8BEN-E
- When the W-8BEN & W-8BEN-E expire & how to track important dates
- Bonus: Receive an IRS Form W-8 Expiration Date Tracker
Understanding IRS Forms W-8 & When You Need Them
- An overview of the five different IRS W-8 forms
- When a Form 8233 is required and why you need it
- The benefits of using substitute W-8BEN or W-8BEN-E forms
Accepting Vendor Forms: When to Keep & When to Return
- Understanding when to accept your vendor’s W-8BEN form
- Criteria for accepting your vendor’s W-8BEN-E form
- When to reject your vendor’s W-8BEN or W-8 BEN-E form
Withholding Requirements & US Sourced Income
- Withholding requirements for Non-FACTA payments (Internal Review Code chapter 3)
- An overview of US Sourced Income for Non-FATCA payments (Internal Review Code chapter 3)
- The IRS presumption rules for determining Non-US/Foreign status
Question & Answer Session – Have your specific question answered!
About the Speaker
Debra Richardson is an accounts payable speaker, trainer, and consultant. An accredited Accounts Payable Manager, Procure-to-Pay Manager, and Payment Reporting Specialist, she has over 20+ years’ experience in accounts payable, accounts receivable, general ledger, and financial reporting for Fortune 500 companies including Verizon, General Motors, and Aramark. She has worked in the Telecommunications, Automotive, Healthcare, and Oil & Gas industries.
As a practitioner, Debra focused on Global Vendor Maintenance for US, APAC, EMEA, and LATAM countries, managed a team of 17 processing over 2,000 vendor requests per month, and maintained 140k+ active vendors across seven accounting systems. Responsible for issuing over 24k+ IRS 1099s, she was also successful at establishing internal controls and authentication to prevent fraud in the vendor master file.
Debra now focuses on helping Accounts Payable and Procurement Teams protect the Vendor Master file from Fraud by providing training, content, and resources to clean up vendor data and clean up vendor processes to pay the right vendor.
In this 75-minute program, you’ll be equipped to recognize when you should or shouldn’t accept Forms W-8BEN and W-BEN-E from vendors, plus track the expiration dates. You’ll also be prepared to discuss complex reporting and withholding issues with your tax professional.
If you'd like this program customized for your organization, call us at 1-800-964-6033. We're certain we can fulfill your training needs, while making it fit in your budget!
Premier Learning Solutions is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.
This program has been approved for 1 (HR (General)) recertification credit hour toward aPHRTM, aPHRiTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification through the HR Certification Institute. Learn more at hrci.org