Operational: Practical Implementation

Module 1: Information Reporting Impacts All Types of Businesses

6 Lessons | 1 Quiz

Lesson 1: Chapters 3, 4, 61, and Section 3406 Refresher

Lesson 2: Financial Services Organizations, Banks and Brokers

Lesson 3: Financial Services Organizations, Asset Managers and Investment Companies

Lesson 4: Financial Services Organizations, Insurance Companies

Lesson 5: Nonfinancial Services Organizations

Lesson 6: Departments Within All Organizations That Have Information Reporting and Withholding Responsibilities

Course 2: Module 1 Quiz

Module 2: Identifying the Payee or Beneficial Owner

20 Lessons | 1 Quiz

Lesson 1: Why do we need to identify the payee or beneficial owner?

Lesson 2: What is a U.S. Person?

Lesson 3: What is a U.S. resident: The Green Card Test

Lesson 4: What is a U.S. resident: The Substantial Presence Test

Lesson 5: What rules apply to U.S. persons?

Lesson 6: What is a non-U.S. person?

Lesson 7: Corporations and Partnerships

Lesson 8: What rules apply to non-U.S. persons? Chapter 3: U.S. Source FDAP

Lesson 9: Determining the Source of Income

Lesson 10: What rules apply to non-U.S. persons? Chapter 3: ECI

Lesson 11: What is a payee?

Lesson 12: What is a Check the Box entity?

Lesson 13: What is a beneficial owner?

Lesson 14: What is an exempt entity?

Lesson 15: What is an intermediary or flow-through entity?

Lesson 16: What Rules Apply To Non-U.S. Persons? Chapter 4

Lesson 17: What is an IGA?

Lesson 18: What is CRS?

Lesson 19: Who is the payee or beneficial owner in each business?

Lesson 20: Who is the payee or beneficial owner in each department?

Course 2: Module 2 Quiz

Module 3: W-9 Walkthrough

6 Lessons | 1 Quiz

Lesson 1: Introduction to the Form W-9

Lesson 2: Overview of the Form W-9

Lesson 3: W-9 Walkthrough Part 1

Lesson 4: W-9 Walkthrough Part 2

Lesson 5: W-9 Walkthrough Part 3

Lesson 6: W-9 Walkthrough Conclusion

Course 2: Module 3 Quiz

Module 4: W-8BEN Walkthrough

4 Lessons | 1 Quiz

Lesson 1: Overview & W-8BEN Walkthrough Part 1

Lesson 2: W-8BEN Walkthrough Part 2

Lesson 3: W-8BEN Walkthrough Part 3

Lesson 4: W-8BEN Walkthrough Conclusion

Course 2: Module 4 Quiz

Module 5: W-8BEN-E Walkthrough

8 Lessons | 1 Quiz

Lesson 1: W-8BEN-E Walkthrough Part 1

Lesson 2: W-8BEN-E Walkthrough Part 2

Lesson 3: W-8BEN-E Walkthrough Part 3

Lesson 4: W-8BEN-E Walkthrough Part 4

Lesson 5: W-8BEN-E Walkthrough Part 5

Lesson 6: W-8BEN-E Walkthrough Part 6

Lesson 7: W-8BEN-E Walkthrough Part 7

Lesson 8: W-8BEN-E Walkthrough Conclusion

Course 2: Module 5 Quiz

Module 6: W-8ECI Walkthrough

3 Lessons | 1 Quiz

Lesson 1: W-8ECI Walkthrough Part 1

Lesson 2: W-8ECI Walkthrough Part 2

Lesson 3: W-8ECI Walkthrough Conclusion

Course 2: Module 6 Quiz

Module 7: W-8EXP Walkthrough

7 Lessons | 1 Quiz

Lesson 1: Overview

Lesson 2: W-8EXP Walkthrough Part 1

Lesson 3: W-8EXP Walkthrough Part 2

Lesson 4: W-8EXP Walkthrough Part 3

Lesson 5: W-8EXP Walkthrough Part 4

Lesson 6: W-8EXP Walkthrough Part 5

Lesson 7: Form W-8EXP Walkthrough Conclusion

Course 2: Module 7 Quiz

Module 8: W-8IMY Walkthrough

14 Lessons | 1 Quiz

Lesson 1: W-8IMY Overview Part 1

Lesson 2: W-8IMY Overview Part 2

Lesson 3: W-8IMY Overview Part 3

Lesson 4: W-8IMY Overview Part 4

Lesson 5: W-8IMY Walkthrough Part 1

Lesson 6: W-8IMY Walkthrough Part 2

Lesson 7: W-8IMY Walkthrough Part 3

Lesson 8: W-8IMY Walkthrough Part 4

Lesson 9: W-8IMY Walkthrough Part 5

Lesson 10: W-8IMY Walkthrough Part 6

Lesson 11: W-8IMY Walkthrough Part 7

Lesson 12: W-8IMY Walkthrough Part 8

Lesson 13: W-8IMY Walkthrough Part 9

Lesson 14: W-8IMY Conclusion

Course 2: Module 8 Quiz

Module 9: 8233 Walkthrough

7 Lessons | 1 Quiz

Lesson 1: 8233 Walkthrough Part 1

Lesson 2: 8233 Walkthrough Part 2

Lesson 3: 8233 Walkthrough Part 3

Lesson 4: 8233 Walkthrough Part 4

Lesson 5: 8233 Walkthrough Part 5

Lesson 6: 8233 Walkthrough Part 6

Lesson 7: 8233 Conclusion

Course 2: Module 9 Quiz

Module 10: Payments and Withholding

13 Lessons | 1 Quiz

Lesson 1: What are payments and withholding?

Lesson 2: Backup Withholding Under Section 3406 and Form 1099 Reporting Under Chapter 61

Lesson 3: Amounts Subject to Chapter 3 Withholding – Withholding Agents

Lesson 4: Amounts Subject to Chapter 3 Withholding: U.S. Source FDAP Income

Lesson 5: Amounts Subject to Chapter 3 Withholding: Exemptions and Treaty Rates

Lesson 6: Chapter 4 Withholdable Payments

Lesson 7: Amounts Subject to Chapters 3 and 4 Withholding: Withholding Agent Liability and Timing

Lesson 8: Chapter 3 and 4 Adjustments for Overwithholding – Reimbursement Procedure

Lesson 9: Chapter 3 and 4 Adjustments for Overwithholding – Set-off Procedure

Lesson 10: Deposits – When Required for Backup Withholding

Lesson 11: Deposits – When Required for Chapter 3 and 4 Withholding

Lesson 12: Deposits – Chapter 3 and 4 – Escrow

Lesson 13: Deposits – Electronic Federal Tax Payment System (EFTPS) & Deposit Penalties

Course 2: Module 10 Quiz

Module 11: Reporting

18 Lessons | 1 Quiz

Lesson 1: What is Reporting?

Lesson 2: Form 1099 Reporting Regime

Lesson 3: When is Form 1099 Reporting Not Required?

Lesson 4: Common Forms 1099 and Deadlines

Lesson 5: Electronic Filing of Forms 1099

Lesson 6: How a Payor Furnishes Forms 1099 to Payees or Recipients

Lesson 7: Form 945

Lesson 8: Chapter 3 Reporting and Form 1042

Lesson 9: Chapter 3 Reporting – Form 1042-S

Lesson 10: Chapter 4 Reporting on Forms 1042 and 1042-S

Lesson 11 : Form 1042-S Extensions

Lesson 12: Forms 1099 and 1042-S Penalties. Failure to File Correct Information Returns by the Due Date

Lesson 13: Forms 1099 and 1042-S Penalties. Failure to Furnish Correct Information Returns by the Due Date and Intentional Disregard

Lesson 14: Amended Forms 1099 and 1042-S

Lesson 15: Amended Forms 1042 and 945

Lesson 16: Chapter 4 Reporting – Form 8966

Lesson 17: IGA Reporting

Lesson 18: CRS Reporting

Course 2: Module 11 Quiz

Module 12: Forms 1099

7 Lessons | 1 Quiz

Lesson 1: Form 1099-MISC Walkthrough Part 1

Lesson 2: Form 1099-MISC Walkthrough Part 2

Lesson 3: Form 1099-INT Walkthrough Part 1

Lesson 4: Form 1099-INT Walkthrough Part 2

Lesson 5: Form 1099-DIV Walkthrough Part 1

Lesson 6: Form 1099-DIV Walkthrough Part 2

Lesson 7: Form 1099-NEC Walkthrough

Course 2: Module 12 Quiz

Module 13: 1042 Walkthrough

10 Lessons | 1 Quiz

Lesson 1: Form 1042 Overview

Lesson 2: Form 1042 Walkthrough Part 1

Lesson 3: Form 1042 Walkthrough Part 2

Lesson 4: Form 1042 Walkthrough Part 3

Lesson 5: Form 1042 Walkthrough Part 4

Lesson 6: Form 1042 Walkthrough Part 5

Lesson 7: Form 1042 Walkthrough Part 6

Lesson 8: Form 1042 Walkthrough Part 7

Lesson 9: Form 1042 Walkthrough Part 8

Lesson 10: Form 1042 Conclusion

Course 2: Module 13 Quiz

Module 14: 1042-S Walkthrough

14 Lessons | 1 Quiz

Lesson 1: Form 1042-S Amounts Subject to Reporting

Lesson 2: Form 1042-S Amounts Not Subject to Reporting

Lesson 3: Form 1042-S Walkthrough Part 1

Lesson 4: Form 1042-S Walkthrough Part 2

Lesson 5: Form 1042-S Walkthrough Part 3

Lesson 6: Form 1042-S Walkthrough Part 4

Lesson 7: Form 1042-S Walkthrough Part 5

Lesson 8: Form 1042-S Walkthrough Part 6

Lesson 9: Form 1042-S Walkthrough Part 7

Lesson 10: Form 1042-S Walkthrough Part 8

Lesson 11: Form 1042-S Walkthrough Part 9

Lesson 12: Form 1042-S Walkthrough Part 10

Lesson 13: Form 1042-S Walkthrough Part 11

Lesson 14: Form 1042-S Conclusion

Course 2: Module 14 Quiz

Module 15: 8966 Walkthrough

10 Lessons | 1 Quiz

Lesson 1: Form 8966 Overview Part 1

Lesson 2: Form 8966 Overview Part 2

Lesson 3: Form 8966 Walkthrough Part 1

Lesson 4: Form 8966 Walkthrough Part 2

Lesson 5: Form 8966 Walkthrough Part 3

Lesson 6: Form 8966 Walkthrough Part 4

Lesson 7: Form 8966 Walkthrough Part 5

Lesson 8: Form 8966 Walkthrough Part 6

Lesson 9: Form 8966 Walkthrough Part 7

Lesson 10: Form 8966 Conclusion

Course 2: Module 15 Quiz

6 Lessons | 1 Quiz

Lesson 1: IGA Walkthrough Part 1

Lesson 2: IGA Walkthrough Part 2

Lesson 3: IGA Walkthrough Part 3

Lesson 4: IGA Walkthrough Part 4

Lesson 5: IGA Walkthrough Part 5

Lesson 6: IGA Walkthrough Part 6

Course 2: Module 16 Quiz

End of Course 2 Quiz

Course 2: Module 4 Quiz

Operational: Practical Implementation Module 4: W-8BEN Walkthrough Course 2: Module 4 Quiz

Module 4: End of Module Quiz

With Module 4 coming to a close, now is the time to test you to ensure you are making the progress we expect at this point in time.

We will ask you a series of questions that will be related to the information you have learnt so far in the topics we have covered.

This quiz will summarise the topics we have gone over in Module 4. To complete this quiz and move on to Module 5, you must get at least 80% correct.

Time limit: 0

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Question 1 of 5

1. Question
Which of the following is not a reason that a non-U.S. individual would use a Form W-8BEN?
- For an individual or human to establish that he or she is not a U.S. person.
- For the non-U.S. individual to claim that he or she is the beneficial owner of the income for which he or she is providing this form.
- For non-U.S. individuals who are resident in treaty countries to request a lower rate of withholding pursuant to an Income Tax Treaty between his or her residence country and the United States.
- For entities to establish that they are not U.S. persons.
Correct

Incorrect
Question 2 of 5

2. Question
Why is the Revision Date on Form W-8BEN important?
- It tells the person completing the form whether it is the most recent version of the form.
- The Revision Date on Form W-8BEN is not important.
- It helps withholding agents to know when they are supposed to apply withholding to amounts paid.
- It tells the IRS that they need to publish a new form.
Correct

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Question 3 of 5

3. Question
Generally, what is the expiration date of a Form W-8BEN signed on March 31, 2020.
- January 1, 2025
- December 31, 2023
- December 31, 2020
- March 31, 2023
Correct

Incorrect
Question 4 of 5

4. Question
Which Part on Form W-8BEN relates to treaty claims?
- Part I
- Part II
- Part III
- There is no space on Form W-8BEN to make a treaty claim.
Correct

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Question 5 of 5

5. Question
Which of the following is required on Form W-8BEN.
- Line 1 – Name of Individual
- Line 3 – Permanent Residence Address
- Line 7 – Reference Number
- Both Line 1 – Name of Individual and Line 3 Permanent Residence Address
Correct

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