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62 Bank of America Jobs

Team Developer

5-10 years

₹ 2.4 - 10L/yr (AmbitionBox estimate)

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This is an estimate of the average salary range for this position. It has not been reviewed by the company, and the actual salary may differ.

Gandhinagar, Hyderabad / Secunderabad

1 vacancy

Team Developer

Bank of America

posted 27d ago

Job Description

Tax Reporting is a new interest bearing accounts and Certificates of Deposits (CDs) require a complete Form W-9 when the account is opened. The Form W-9 is the part of the signature card and is maintained on Image View. Tax Reporting receives Forms-W9 s from Reasonable Cause, B-Notice, Penalty Notice mailings and from banking centers for name or TIN changes to existing accounts.
Job Description
The W-9 Analyst is responsible for reviewing the Form W-9 s for proper certification and to ensure the accounts are set up correctly on the application system. Accounts that are not certified are certified and tracked by the HX system and are subject to backup withholding. Backup withholding is the withholding of federal income tax on reportable payments such as interest. Backup withholding is applied at the current percentage rate established by the government to the amount of interest paid. The amounts withheld are paid to the IRS the next business day. Any interest paid and backup withholding is reported at year-end on Form 1099-INT to the customer and the IRS.
Responsibilities
Calculating and processing interest adjustment for Checking, Savings Accounts.
Ensure that the Customer s TIN is correct on the form
Initiating terminating backup withholding
Update/Validate Name, Address TIN as per SOR on IRS reports for savings bond
Requirements
Education - Any Graduate with Commerce background or banking related
Certifications If Any - None
Experience Range - 3 to 5 Years
Foundational skills
Domain knowledge on US Tax
Good verbal and written communication skills
Knowledge on US Tax is mandatory
Knowledge of Money Laundering and it s relation to Banking Operations will be an added advantage
Should be flexible working in different shifts as per the business requirement.
Also be willing to do additional hours as and when required.
Desired skills
Preferred exposure in Financial / Banking domain.
Prior knowledge of US Banking industry an advantage
Ability to work on multiple applications
Eye for detail.
Good communication skills and ability to interact effectively within the team and Line of Business
Able to work under pressure, in a high volume environment, to tight deadlines without accuracy TAT being compromised
Team player
Work Timings - 6:30 AM to 3:30 PM IST and 3:30 PM to 12:30 AM IST
Job Location - Hyderabad GIFT

Employment Type: Full Time, Permanent

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What people at Bank of America are saying

4.3
 Rating based on 260 Team Developer reviews

Likes

Work culture is too good

  • Salary - Excellent
  • +6 more
Dislikes

Nothing specific

Read 260 Team Developer reviews

Team Developer salary at Bank of America

reported by 1.9k employees with 3-12 years exp.
₹2.4 L/yr - ₹11 L/yr
At par with the average Team Developer Salary in India
View more details

What Bank of America employees are saying about work life

based on 3k employees
65%
87%
81%
77%
Flexible timing
Monday to Friday
No travel
Day Shift
View more insights

Bank of America Benefits

Free Transport
Cafeteria
Health Insurance
Gymnasium
Soft Skill Training
Job Training +6 more
View more benefits

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