Moving back in early 2027 after 11 years in the US. I keep reading that RNOR means foreign income isn't taxed in India for 2-3 years but I can't find a clear answer on whether 401k withdrawals fall under that. Trying to figure out if I should start pulling from my 401k right after landing or if the timing matters.
Been in the US 12 years, planning to move back to Hyderabad sometime next year. any suggestions on how can i planout before moving, and things to keep in mind like taxes, bank accounts, etc
I've been going back and forth on this for two years. Some months I feel like we have enough, other months I see a school fee estimate or a healthcare number and I panic. I've tried making my own spreadsheet but I end up questioning every assumption. What I really want is something that takes my US assets, my expected India expenses, and just tells me: you're ready, or you need X more years. Does anything like this exist or is it always just vibes?
Returning to India after 10 years in the US. I've read a lot about RNOR but I still can't figure out if I actually qualify and for how long. Is there a simple way to check eligibility or do I need a CA to figure this out?
PS: Thanks for sharing, found a calculator, to find my RNOR Status, sharing here might be helpful for others: RNOR Calculator
I have an old EPF account from my job in India before moving to the US, and a PPF I started in 2015. No one told me these count as foreign financial accounts. The balance in EPF alone is around 12 lakhs. Should these have been on my FBAR all along?
I have worked at 3 companies over 8 years in the US. Each one has its own 401k sitting with Vanguard, Fidelity, and Empower. I keep getting statements but I have not done anything with them. Should I roll all of these into one IRA? Is there any downside?
I have been in the US for six years on a work visa. Back in India I still hold an NRE savings account, an NRO savings account, an old EPF balance and a couple of fixed deposits. No single account crosses 10,000 USD, but together they easily do. I have never filed FBAR because I assumed the threshold applied per account. I now want to understand my obligation and whether streamlined procedures are the right way to fix prior years.
Moved to the US in 2018 on H1B and have been a US tax resident since. I started SIPs in four Indian mutual funds back in 2014 and never sold any units. My US CPA never asked about them and I only recently learned about PFIC rules and Form 8621. I am trying to understand what my actual exposure is, whether the IRS can open up old returns, and what cleanup options I have.
I have an NRE savings account and a couple of NRE FDs that I've been maintaining while living in Pittsburgh. I know NRE accounts are specifically for non-residents so I'm guessing I need to convert them once I move back but I don't know the process or timeline. Does the interest stop being tax free in India once I return?
I’m an NRI living in the US and earning rental income from rental apartment in India.
Do I still need to file an income tax return in India?
Would appreciate hearing from other NRIs who have dealt with this.
32, on h1b, married, household income around 220k. been maxing 401k. read 10 different reddit posts saying roth IRA is great, then read 5 saying never do roth if you plan to leave the US. confused. should i do backdoor roth or just stick with traditional 401k?
planning my relocation to india from US. some friends say i get 3 years of RNOR, some say 2, my CA in india says it depends. i have 401k, US brokerage and some FDs in india. need to know how long this window is before i become ROR.
What are you doing with your gold ETF holdings?
h1b for 11 years, moving back to my hometown. sold the house, after taxes i have some amout in saving. was about to put it all in FCNR but a friend said do not lock it up yet. RNOR, US estate tax, india investments, everything is confusing. how did you guys handle this?
i moved to the US in 2022 on h1b. i had been doing SIPs in 4-5 indian mutual funds since 2017, never sold anything. now hearing about PFIC and form 8621 for the first time. am i in trouble? do i amend old returns? also confused between MTM, QEF and 1291.