Articles
Plain answers on money, tax and paperwork between the US and India.
FBAR and US Tax Filings
FBAR, FATCA, PFIC and the other forms the IRS expects from anyone with accounts in India.
FBAR Deadline: The Automatic Extension to October 15FinCEN automatically extends the FBAR deadline to October 15 every year. How it works, which Indian accounts count, and what to do if you are late.FBAR vs Form 8938: Thresholds and Who Files WhichFBAR vs Form 8938: the FBAR applies above $10,000 in aggregate maximum value, Form 8938 from $50,000. How each is calculated and who files which.NRO Interest Tax: Cut TDS to 15% With Form 10F and 8802NRO interest loses 30% to TDS by default. File Form 8802 and Form 10F and it drops to 15% under the India-US DTAA. The numbers on a ₹1 crore deposit.PFIC Rules: How the US Taxes Indian Mutual FundsEvery Indian mutual fund is a PFIC under US tax rules. How Section 1291, QEF and mark-to-market work, a worked example in dollars, and Form 8621.Joint or Inherited Indian Mutual Funds: A PFIC CleanupIf your name is on a parent's mutual fund folio, the US treats you as an owner of a PFIC. How to audit your folios, file Form 8621 and what to buy instead.Is GIFT City Tax-Free for US Taxpayers? The 1040 and PFICsGIFT City income is exempt in India but fully taxed in the US, with no foreign tax credit. Its funds are PFICs that need Form 8621 every year.Inherited Property in India: Cost Basis, US Tax, Form 3520India taxes an inherited flat from your parent's cost. The IRS uses the value at the date of death. One sale can be a gain in India and a loss in the US.Streamlined Filing Compliance Procedures: An NRI GuideNever filed an FBAR or reported Indian account income? How the IRS streamlined procedures work, who qualifies, what you file and what the penalty is.
Indian Accounts, Property and OCI
NRE, NRO and FCNR accounts, selling property, OCI cards, GIFT City and insurance for visiting parents.
NRE vs NRO vs FCNR: Three Accounts, Two QuestionsNRE, NRO and FCNR accounts solve different problems. Pick by where the money came from and where it will be spent, not by rate.NRE Account Explained: Rules, Interest Tax and the US SideWhat an NRE account is, what money can go in, why the interest is tax-free in India but taxable on a US return, and how it counts for FBAR.NRI FD Rates Compared: NRE, NRO, FCNR at 8 Banks1-year NRE, NRO, FCNR and RFC rates at eight Indian banks as of May 15, 2026, and which account fits which money.FCNR Deposit: Rates, US Tax and How It WorksAn FCNR deposit holds dollars at an Indian bank with no rupee risk. How the interest works, what rates were in 2026, and what a US taxpayer keeps.FCNR (USD) Deposit Rates: 5.06% Yield, No Rupee Risk1-year FCNR (USD) rates run from 3.65% to 5.00% across eight banks. How the 360-day interest works, and why a falling rupee does not touch it.NRI Selling Property in India: 14.95% TDS on the Sale PriceWhen an NRI sells Indian property, the buyer withholds 14.95% of the whole sale price. The documents, the lower deduction certificate and the wire home.NRI Capital Gains on India Property: Indexation and US TaxResidents can choose 20% with indexation; NRIs pay a flat 12.5% without it. How big the gap is, how to reduce the Indian tax, and what the US takes.The 12.5% Trap: NRI Capital Gains Tax on Indian PropertyIndia's 12.5% long-term capital gains rate looks like a tax cut. For NRIs with older property it is a hike, and the buyer withholds on the full sale price.NRI Selling Inherited Property in India: Papers, TDS, LimitsBefore an NRI can sell an inherited flat, the title must be in the heirs' names. The documents, the TDS on each heir, and the $1 million wire limit.Power of Attorney for India From the USA: An NRI GuideHow an NRI makes a power of attorney in the US for use in India: consulate attestation or apostille, stamping, registration, and what to write in it.OCI New Rules 2026: e-OCI Card in 15 Working DaysSince May 1, 2026 the OCI process is fully online: a digital e-OCI, a 15-working-day target, no six-month residency rule, and new fees.OCI Renewal After a New Passport: The 3-Month RuleOCI renewal after a new passport: you have three months to update your OCI. Plus the rule for minors' passports and Fast Track Immigration.OCI Card Application After US Citizenship: Step by StepAfter you become a US citizen, surrender your Indian passport first, then apply for the OCI card. The order, the documents and the usual mistakes.Renunciation of Indian Citizenship After US NaturalizationAfter the US oath you must surrender your Indian passport and get a renunciation certificate. When to file, what to send, and what changes in India.Indian Passport Renewal in USA: Steps and DocumentsHow to renew an Indian passport in the USA: the online form, the right consulate, the documents, children's passports and your US visa stamp.Fast Track Immigration India: FTI-TTP for OCI HoldersIndia's FTI-TTP clears OCI holders through airport e-gates in about 30 seconds, with no fee. Who can enroll, where it works and what to do first.What Is GIFT City? India's Offshore Zone, ExplainedGIFT City is a dollar financial zone on Indian soil that Indian law treats as foreign. What India built in Gandhinagar, why, and who it was built for.GIFT City Products for NRIs: The Menu From $0 to $250,000Every product an NRI can buy in GIFT City, with minimums from $0 to $250,000, and why the $500 retail funds are largely closed to US residents.How to Open a GIFT City Account From the US by Video KYCOne video call and five documents open a GIFT City account from the US. The deposit carries no DICGC insurance. How it compares with NRE, NRO and FCNR.Visitor Insurance for Parents: Pre-Existing and Acute OnsetMost visitor insurance excludes pre-existing conditions. A fixed-benefit plan can cap acute onset at $2,500 for a parent aged 65-69, on a $78,000 bill.Visitor Insurance: Buy It in India or in the US?An Indian plan listed with $500,000 of pre-existing cover pays only for a life-saving emergency. What the wording says, and how age changes the quote.
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401(k), RSUs and US Investing
What to do with a 401(k), RSUs and dollar savings, before and after a move back to India.
Old 401(k)? Move It Before You Move Back to IndiaA plan can move a balance under $7,000 without asking, and an Indian address can lock you out. Fix an old 401(k) while you still have a US address.401(k) Tax After You Return to India: US, India, EstateNonresidents lose 30% of each 401(k) distribution without Form W-8BEN. India taxes it once you are ROR, and US estate tax starts at $60,000.RNOR Status Explained: Rules, Tax and the US SideRNOR status keeps a returning NRI's foreign income out of Indian tax for two to three years. Who qualifies, what is taxed, and what the US still taxes.RSU Tax: How RSUs Are Taxed in the US, From Vest to SaleRSUs are taxed as salary when they vest and as a capital gain when you sell. How withholding falls short, and how to avoid paying tax twice.Substantial Presence Test: H-1B Resident or Nonresident?How the substantial presence test decides whether an H-1B holder files as a resident or nonresident alien, with a worked example and first-year choices.The 4.7% Rule vs an 8% Yield for Retirement IncomeOn $1 million, the 4.7% rule pays $47,000 and rises with inflation. An 8% yield pays $80,000 and stays fixed. The rule catches up in year 19.Yield vs Total Return: High-Yield Funds and NRI TaxesA fund that pays 12% and loses 8% of its value returns 4%. How to check a high-yield fund, and what changes for tax and currency if you retire in India.FCNR(B) vs HYSA, CDs and Treasuries for Your DollarsFCNR(B) dollar deposits pay 6% to 7.1% against 3% to 4.55% in the US. The cost is a one-year lock and deposit insurance of about $5,300 per bank.FCNR Deposit After US Tax: What NJ and FL Filers KeepA 6% FCNR deposit keeps about 4.5% for a $100k Florida saver and 3.5% for a $1M New Jersey saver. The after-tax numbers, the lock-in and the filings.Leveraged FCNR Deposits: Why 17-27% Is Not Your ReturnBrokerages pitch 17% to 27% on leveraged FCNR(B) deposits. For a US taxpayer, tax on the gross interest can turn a 17% pre-tax gain into a 7.5% loss.Leveraged FCNR: What the 13.8% Posters Leave OutBank posters advertise 13.8% on leveraged FCNR deposits. For a US taxpayer the same trade returns about 10% at best and can lose money. The numbers.The 15% FCNR Deposit Through GIFT City: The US Tax RiskThe 15% deposit pitched to NRIs is a leveraged FCNR loan booked in GIFT City. How it works, and the US tax reading that can turn the return negative.GIFT City Products Rated for US Filers: Clear to AvoidTen GIFT City products rated Clear, Conditional or Avoid for a US filer, with the US tax treatment and the forms each one puts on your return.
Sending Money and the Rupee
Transfer costs, the remittance tax and what the rupee's fall does to your money.
Best Way to Send Money to India: $10,000 ComparedThe best way to send money to India depends on the rate you actually get. We compared what $10,000 delivers in rupees across transfer services.1% Remittance Tax: Does It Hit Money Sent to India?The 1% US remittance tax only hits cash, money orders and cashier's checks. Bank-funded transfers to India are exempt. Why waiting on the rate costs more.The Rupee's Quiet SlideThe rupee has lost about 11% against the dollar in a year. What that does to Indian property, NRE deposits and money you plan to bring back to the US.FCNR(B) Rates at 6% to 7.1%: The RBI Window ExplainedIndian banks now pay 6% to 7.1% on US dollar FCNR(B) deposits because the RBI covers the hedging cost. Deposits must be booked by September 30, 2026.