NVIDIA RSU India guide: Schwab Equity Awards, the post-split cost basis, and when your equity vest exceeds your salary

A senior NVIDIA engineer in Bangalore joined in late 2021 at what was a market-competitive offer: roughly ₹50 lakh base + $400,000 RSU grant vesting quarterly over 4 years. At the time, NVDA was trading around $300. The expected RSU perquisite per year (at then-current prices): roughly ≈$100,000 × ₹74 = ≈₹74 lakh. Total annual comp expected to be in the ₹125 lakh range. That seemed reasonable.

Filing for AY 2026-27? This piece is part of the Tax filing season 2026 master guide — start there for the full ITR-2 roadmap covering Schedule FA, Form 44/67, and the July 31 deadline workflow.

Two years later — fall 2023 — NVDA had crossed $500. By mid-2024 (and the 10-for-1 stock split in June 2024), the engineer's pre-split share count had been multiplied by 10, but the per-share price had been divided by 10. Economic value unchanged, but the equity math now operated on a different per-share scale. By 2025-2026, NVDA was trading at levels that put the engineer's annual RSU perquisite at more than 3× their cash salary.

This is the structural reality of NVIDIA equity comp during the AI infrastructure cycle: due to NVDA's appreciation, employees who joined in 2020-2023 have RSU grants whose vest values now far exceed their original grant assumptions — often exceeding annual base salary by Year 2 onwards. This isn't a planning shortcut; it's a planning necessity. Surcharge bands get blown through in single quarters. Advance tax estimates need monthly refresh. Section 234C interest risk is structurally higher than at any other employer in the cohort.

This article is the NVIDIA-specific RSU guide. The structural tax framework lives in the 4-article RSU lifecycle series; this article fills in everything NVIDIA-specific — the grant types (RSU + PSU + ESPP), the quarterly vesting schedule, the Charles Schwab Equity Awards walkthrough (same broker as Meta, different statement specifics for NVIDIA), the 10-for-1 stock split cost basis adjustments (critical for filings covering pre-split holdings), the NVDA ESPP at 15% with 6-month lookback, and the quarterly dividend FTC.

NVIDIA's grant types — RSU + PSU + ESPP

NVIDIA's equity structure mirrors Apple's: RSU + PSU + ESPP. The components:

Grant type	Who gets it	Vesting
Initial RSU grant	All new hires at applicable levels	4-year vest, quarterly vests starting after a 1-year cliff (verify against memo)
Annual Refresh RSU	All employees, post-performance review	Same 4-year quarterly schedule starting from grant date
Performance Stock Unit (PSU)	Senior IC and managers; introduced as a portion of refresh grants	3-year performance period; vests tied to NVIDIA's relative TSR vs industry benchmark; multiplier 0% to 200%
NVDA ESPP	All employees	Semi-annual offering periods; 15% discount with 6-month lookback (Apple-style structure)
Special grants	Promotion, retention, recognition	Schedule varies

Critical: NVIDIA's vesting schedule. Most NVIDIA RSU grants follow a 4-year vest with quarterly distributions and a 1-year cliff:

• Year 1: 25% vests at end of Year 1 (single cliff vest)
• Year 2: 25% vests in 4 quarterly tranches of 6.25% each
• Year 3: 25% vests quarterly
• Year 4: 25% vests quarterly

Some grants may not have a Year-1 cliff — verify against your specific grant memo.

The 10-for-1 stock split (June 2024). NVIDIA executed a 10-for-1 stock split in June 2024. This means:

• Every pre-split share held became 10 post-split shares
• Pre-split per-share price was divided by 10 to get post-split price
• Cost basis per share was also divided by 10 (the total dollar cost basis remained the same; just spread over 10× more shares)

For Indian filing of pre-split share sales: use the post-split share count and post-split per-share cost basis for any sale after June 2024 of shares acquired pre-split. The total INR cost basis (in aggregate) doesn't change — only the per-share metric.

The NVIDIA RSU vesting schedule — quarterly

For most NVIDIA RSU grants:

Year	Vest schedule	% vested per year
Year 1	Single cliff vest at end of Year 1 (typically a specific date 1 year after grant)	25%
Year 2	4 quarterly vests of 6.25% each	25%
Year 3	4 quarterly vests of 6.25% each	25%
Year 4	4 quarterly vests of 6.25% each	25%

Vest dates within each quarter: typically near the 25th of the third month of the quarter (March, June, September, December — same as Microsoft). Check Schwab Equity Awards for the precise date of each scheduled vest.

Compounding with refresh grants by Year 3:

Grant	Year 3 vest events
Initial grant	4 quarterly vests of 6.25% (Year 3 of initial)
Year-1 refresh	4 quarterly vests of 6.25% (Year 2 of refresh)
Year-2 refresh	1 cliff vest at end of Year 2 of tenure = Year 1 of that refresh = 25%
Year-3 refresh (just granted)	No vest yet — cliff is Year 1

Total Year-3 vest events: ≈9 events (8 quarterly + 1 cliff vest). Combined with the NVDA appreciation, the per-event INR value can be substantial — often ₹15-40 lakh per single vest event at senior levels.

Charles Schwab Equity Awards — NVIDIA's broker

NVIDIA's equity plan is administered through Charles Schwab Equity Awards Center at eac.schwab.com (same broker as Meta, different employer plan setup).

Account setup happens when your first vest is about to occur. You'll receive an email from Schwab; set up 2FA immediately.

Key navigation (same as Meta but with NVIDIA-specific plan setup):

Section	What's there
Award Overview	Summary of all grants — initial + refresh + PSU components + ESPP
Activity	Every vest event, ESPP purchase, sale, dividend with dates
Statements	Monthly account statements + annual summary
Tax Documents	1099-B (sales), 1099-DIV (US dividends), 1042-S (foreign withholding for Indian residents)
W-8BEN	Manage W-8BEN form; renew before expiration

Account number format: Same Schwab convention — 8-digit account number.

Statement download for Indian filing: Login → Statements → Annual → Download PDF. For Indian Schedule FA, set the period to January 1 – December 31.

Tax form release timing:

• 1099-DIV: by January 31
• 1099-B: by February 15
• 1042-S: by March 15 — required for Form 44 FTC
• ESPP-specific tax summary: included in the annual tax summary PDF

Cost basis tracking with the 10-for-1 split: Schwab automatically adjusts pre-split cost basis to per-share post-split values. Your statement should show correct adjusted cost basis for all pre-split acquisitions. Verify this against your own calculations — if Schwab somehow didn't apply the split adjustment correctly to a specific tranche, the cost basis on the 1099-B may be wrong. Most engineers don't catch this because they trust the broker numbers.

NVDA ESPP — 15% + 6-month lookback (Apple-style)

NVIDIA's ESPP is structured similarly to Apple's — among the most generous in the cohort:

Parameter	Value
Discount	15% off the LOWER of (offering-period start price, offering-period end price)
Lookback	Yes — 6-month lookback to start price
Offering period	6 months (typical: Mar-Aug and Sep-Feb, or similar — verify current schedule)
Contribution from salary	Up to 10% of eligible compensation (capped per IRS at $25,000 fair-market-value purchases per year)
Purchase date	Last business day of the offering period
Holding period before sale	None (you can sell immediately post-purchase)

The lookback compounds dramatically when NVDA is rising. During the AI infrastructure cycle (2023-2024-2025), NVDA appreciated multiple times across single 6-month offering periods. The math on a hypothetical offering period where NVDA went from $400 to $700 (pre-split equivalent):

• Purchase price: $400 × 85% = $340
• Current market value: $700
• Per-share value at purchase: $700 - $340 = $360 of perquisite
• For 100 shares purchased: $36,000 of ESPP discount perquisite for a single 6-month period

This is why employees who maxed out their NVDA ESPP contributions during the 2023-2024 appreciation cycle accumulated very large ESPP perquisite values — often larger than their RSU perquisite for the same period.

India tax treatment of the ESPP discount: the discount + any lookback advantage is taxable as perquisite at the purchase date FMV, added to your salary income.

ESPP cost basis at future sale: the cost basis is the purchase-date FMV (not the discounted purchase price). The discount was already taxed as perquisite at purchase.

PSUs — performance multipliers at senior levels

At NVIDIA, Performance Stock Units (PSUs) are a portion of refresh grants at senior IC levels and management. The mechanics:

Parameter	Value
Performance metric	NVIDIA's total shareholder return vs industry/sector benchmark
Multiplier range	0% to 200%
Vest timing	Typically annual vests over 3 years, with each year's multiplier based on the cumulative performance for the relevant measurement period
Multiplier determination	Based on Compensation Committee assessment of company performance

PSU portion of refresh grants by level (approximate):

Level	Typical PSU portion of refresh grant
Senior 4 (Staff IC)	≈20-30% PSU + 70-80% RSU
Senior 5 (Principal IC)	≈40-50% PSU + 50-60% RSU
Senior 6+ (Distinguished/Director+)	≈50-60% PSU + 40-50% RSU

The NVDA-specific PSU upside. Because NVIDIA materially outperformed both the broader market and industry benchmarks during 2023-2024-2025, PSU multipliers in these years frequently came in at the upper bound (1.5×-2.0×). For an engineer with a $200,000 PSU target, an actual 2.0× multiplier means $400,000 of vested value — and at this level of value, the per-event Schedule S perquisite often exceeds ₹3-4 crore equivalent INR.

For India tax planning, this means PSU vest events for senior NVIDIA engineers during the AI cycle have been generating single-event perquisite tax bills in the ₹1-2 crore range. Advance tax planning at this scale is non-trivial.

The NVDA dividend — quarterly, very small per share

NVIDIA has paid a quarterly cash dividend since the early 2010s. Post the June 2024 10-for-1 split, the per-share dividend is very small — currently around $0.01-$0.04 per share quarterly (verify current amount on the NVIDIA IR page).

For an Indian resident holding 1,000 post-split NVDA shares (a realistic Year-3 holding for an L5+ engineer), annual dividend income is roughly $40-$160, or about ₹3,400-₹13,600 at TTBR ≈₹84.

The numbers are small, but Form 44 FTC is still mandatory. Even on a ₹40 US WHT, the filing is what creates the FTC claim. Skipping Form 44 because the amount is modest converts it into a permanent loss.

Four-year worked example: an L5 Indian engineer

This example walks through a typical L5 (Senior IC) Indian engineer who joined NVIDIA India in March 2022, before the AI infrastructure cycle accelerated. Numbers show the appreciation reality.

Year 1 (FY 2022-23): Initial grant cliff vest at year-end.

Assume initial RSU grant of $400,000 (at then-current NVDA price ≈$250 pre-split = 1,600 pre-split shares).

• Year 1 cliff vest (March 2023): 25% × 1,600 = 400 pre-split shares
• NVDA price at vest (March 2023): ≈$280 pre-split = $112,000 = ≈₹93 lakh at TTBR ≈₹83
• Plus ESPP contributions (assume 10% of $200K base salary = $20K/year, with 15% + lookback discount averaging $3,500 of perquisite per year)
• Total Year 1 equity perquisite: ≈$115,500 = ≈₹96 lakh
• Plus base salary ≈₹165 lakh
• Total Year 1 income: ≈₹261 lakh. Crosses ₹2 crore → 25% surcharge applies.
• Tax: ≈₹100 lakh

Year 2 (FY 2023-24): NVDA appreciation begins, more vest tranches.

• Initial grant: 4 quarterly vests of 6.25% × 1,600 = 100 pre-split shares per quarter = 400 total
• NVDA price during 2023: rose from ≈$300 (Jan) to ≈$500 (Dec) average
• Quarterly vest values: ≈$30K, $35K, $40K, $50K — averaging $39K per quarter × 4 = ≈$156K
• Plus Year-1 refresh of $150,000 (granted Y1 anniversary): 25% cliff at end of Year 2 = $37,500
• Plus ESPP ≈$4,000
• Plus dividends ≈$100
• Total Year 2 equity perquisite: ≈$197,600 = ≈₹164 lakh
• Plus base salary ≈₹175 lakh
• Total Year 2 income: ≈₹339 lakh
• Tax: ≈₹130 lakh

Year 3 (FY 2024-25): The 10-for-1 split happens. Vests continue. NVDA at extreme highs.

In June 2024, the 10-for-1 split executes. All pre-split holdings × 10. Per-share price ÷ 10. Pre-split cost basis ÷ 10 (per share).

• Initial grant: 4 quarterly vests of 6.25% × 1,600 pre-split = 100 pre-split → 1,000 post-split shares per quarter. NVDA post-split price ranged from ≈$95 to ≈$140 across 2024. Per-quarter vest: ≈$100K-$140K. Year total: ≈$480K
• Year-1 refresh: 4 quarterly vests of 6.25% × ($150K target ÷ split-adjusted price). The math gets complex with the split, but the total vest value Year 3 is ≈$30K-$50K
• Year-2 refresh (assume $200K granted at Y2 anniversary): 25% cliff at end of Year 3 = $50,000
• ESPP: 2 purchases, each averaging $8K perquisite due to the major NVDA appreciation in the offering periods
• Dividends: ≈$200
• Plus PSU vest (Y2 refresh had PSU portion since L5+): assume Y1 of PSU vests at 1.5× multiplier on $50K target = $18,750
• Total Year 3 equity perquisite: ≈$596,750 = ≈₹500 lakh
• Plus base salary ≈₹185 lakh
• Total Year 3 income: ≈₹685 lakh

This crosses ₹5 crore → 37% surcharge applies (for surcharge purposes, income above ₹5 crore is taxed at 37% surcharge on the top portion).

Tax: ≈₹280 lakh.

Year 4 (FY 2025-26): All 3 refresh grants vesting, multiple PSU tranches, continued NVDA appreciation.

The math continues to compound. Year-4 total equity perquisite easily exceeds ₹600-800 lakh at senior level. Total income approaches ₹8-10 crore. Tax at 37% surcharge band: ≈₹350-450 lakh.

The structural NVIDIA pattern: equity perquisite grows faster than salary because NVDA appreciation compounds. By Year 3-4, perquisite often exceeds salary by 3-5×. Total income hits the highest surcharge bands. Tax planning requires:

• Cross-border CA from Day 1
• Aggressive advance tax payments
• Possible sale-to-cover decisions on vested shares to fund the tax bill
• Asset diversification planning (the concentration risk is highest in this cohort)

Form 16 + AIS reconciliation — NVIDIA India specifics

NVIDIA's India entity (Nvidia Graphics Private Limited / Nvidia India Pvt Ltd) handles payroll TDS for India-resident employees:

Item	Where it appears
Gross RSU vest perquisite	Form 16 Part B Section B(1)(b)
PSU vest perquisite (post-multiplier)	Same line, aggregated; broken out in Form 12BA
ESPP discount perquisite	Same line, aggregated; broken out in Form 12BA
TDS deducted	Form 16 Part A, in months following each event
Detailed breakdown	Form 12BA

NVIDIA India typically captures all three perquisite types correctly. The Form 12BA usually breaks out RSU, PSU, and ESPP components separately for high-level employees.

Critical Form 16 reconciliation: at NVIDIA, the perquisite TDS often exceeds the cash salary TDS by Year 2 onwards. Engineers sometimes report negative monthly take-home pay during the months following major vest events because TDS deduction (on the perquisite) is being amortized across subsequent monthly salaries. Plan cash flow accordingly.

Schedule FA for NVIDIA Corporation

For each calendar year when you held NVDA shares:

Field	Value for NVIDIA
Country	2 (United States of America)
Name of Entity	NVIDIA Corporation
Address of Entity	2788 San Tomas Expressway, Santa Clara, CA 95051, USA
Nature of Entity	Foreign Listed Company
Date of Acquisition	Earliest vest date or ESPP purchase date for currently-held shares
Initial Value (INR)	Cost basis at acquisition (use post-split per-share figures for any pre-June-2024 acquisitions reported on 2024+ Schedule FA)
Peak Value (INR)	Highest market value during calendar year × TTBR
Closing Value (INR)	Dec 31 value × Dec 31 TTBR
Total dividends received (INR)	Quarterly dividends summed, each at dividend-date TTBR
Total sale proceeds (INR)	If you sold
Custodian	Charles Schwab & Co., Inc.
Custodian Address	211 Main Street, San Francisco, CA 94105, USA
Account Number	8-digit Schwab Equity Award account number

Single entry for NVDA — only one share class.

Handling the 10-for-1 split on Schedule FA. For shares acquired before June 2024 and held into 2024-2025:

• Closing values use post-split prices and post-split share counts
• Cost basis figures use post-split per-share basis (your aggregate INR cost basis is unchanged — just spread over 10× more shares)
• If you sold pre-split shares that were converted to post-split, use post-split metrics for the sale-side calculation; the gain math should reconcile

Capital gains when you sell

The cost basis for your NVIDIA shares is the vest-date INR value already declared as perquisite income — the amount on your Form 12BA / Form 16. You have already paid tax on that amount. Capital gains are computed only on the price movement after vest. For shares acquired before the June 2024 10-for-1 split, the INR cost basis per share is the original aggregate INR cost basis divided by the post-split share count.

Short-term capital gains (STCG): If you sell within 24 months of vest, the gain is taxed at your income tax slab rate (30% + applicable surcharge + 4% cess for most FAANG employees). There is no concessional rate.

Long-term capital gains (LTCG): If you sell 24 months or more after vest, the gain is taxed at 12.5% under Section 112 (no indexation benefit for foreign listed shares). For most high-earning employees, this is a significant reduction from the 30%+ slab rate.

The 24-month rule in practice: The holding clock starts on the vest date (when shares were credited to your Schwab account), not the grant date. Keep a vest date log — your Form 12BA or broker statement is the source of record.

Cost basis in INR: Use the SBI TTBR rate on the vest date (the same rate used for perquisite valuation) multiplied by the USD FMV at vest. This becomes your cost of acquisition for capital gains purposes.

When you sell: Your broker will provide a 1099-B showing proceeds in USD. Convert the sale proceeds to INR using the SBI TTBR rate on the sale date. Subtract the INR cost basis. The difference is your capital gain (or loss) in INR.

Six common filing errors for NVIDIA employees

1. Not adjusting cost basis for the 10-for-1 split. The split affected per-share cost basis (divided by 10) but not aggregate cost basis. Filers who don't adjust may calculate per-share gain incorrectly.

2. PSU perquisite at target value instead of actual. At NVIDIA in 2024-2025, PSU multipliers often came in at 1.5×-2.0×, meaning actual perquisite far exceeded target. Form 12BA reflects actual, not target.

3. Under-estimating advance tax for the appreciation effect. Because vest values rise with NVDA price, the perquisite tax estimate from one year doesn't predict the next year's. Refresh your advance tax projection at least quarterly.

4. Sell-to-cover proceeds confused with sales. When Schwab sells shares at each vest to cover US withholding, that's not a separate Schedule CG event. It's a transactional detail of the vest.

5. ESPP cost basis confusion. Cost basis is the purchase-date FMV (e.g., $200 if NVDA closed at $200 on purchase date), not the discounted purchase price ($170 at 15% off). The discount was already taxed as perquisite.

6. Missing the dividend Form 44 because amounts seem trivial. A 1,000-share NVDA holding generates only ≈$40-160 annual dividends, which seems negligible. But the US WHT (≈$10-40) requires Form 44 to claim FTC — skipping it is a permanent loss.

RSU concentration — and what to do about it

By Year 3 at NVIDIA during the appreciation cycle, the typical L5+ engineer holds 60-85% of their liquid net worth in NVDA stock — the highest concentration in the cohort, structurally because of how aggressively NVDA has appreciated and how quickly per-vest perquisite tax depletes cash flow that could otherwise fund diversification.

The standard Schwab Equity Awards account doesn't let you diversify within the same account — you can hold NVDA, sell and transfer proceeds to a regular brokerage account, or remit the proceeds. The sell-and-remit path triggers separate LRS + FEMA considerations and converts the asset out of the foreign-equity bucket.

TCS on the sell-and-remit path: When you remit sale proceeds from your US broker account back to India under LRS, your bank collects TCS (Tax Collected at Source) at 0% on the first ₹10 lakh remitted per financial year and 20% on amounts above ₹10 lakh. TCS is not an extra tax — it is credited against your total income tax liability when you file your ITR. But it does block capital temporarily. For employees selling large tranches, plan remittances across financial years where possible to stay within the ₹10 lakh threshold, or factor the TCS credit into your advance tax planning.

Rovia is built specifically for this problem. Transfer your vested NVIDIA shares from Schwab Equity Awards directly to Rovia (in-kind transfer, no taxable event), then redeploy into diversified US ETFs or other US single stocks while keeping the assets in the foreign-equity bucket and the original LRS treatment intact. Given the concentration levels typical for NVIDIA employees, this is the highest-impact diversification move in the cohort. Rovia charges 0.15% brokerage per trade, capped at $15 per order.

Compensation by level — what Indian engineers actually receive

NVIDIA India (Pune and Bangalore) has world-class GPU architecture and AI compute teams. NVIDIA's RSU grants have grown dramatically as the stock price appreciated, with recent grants reflecting significantly higher total comp than pre-AI-era benchmarks.

Level	Title	Experience	New-hire RSU grant	RSU as % of TC
IC4	Engineer	0–2 years	$25,000–$60,000	18–28%
IC5	Senior Engineer	2–5 years	$70,000–$150,000	30–42%
IC6	Staff Engineer	5–8 years	$160,000–$320,000	42–55%
IC7	Principal Engineer	8–12 years	$320,000–$650,000+	55–65%
Director	Director of Engineering	10+ years	$650,000–$1,200,000+	65–72%

The NVDA appreciation effect: NVIDIA grants are expressed in dollar values at the time of grant. As NVDA's stock has appreciated dramatically (from ≈$50 pre-split in 2022 to ≈$130 post-10:1 split equivalent in 2024), older grants issued at lower stock prices delivered multiples of the original dollar grant value. Engineers who joined in 2020–2022 received grants priced when NVDA was a fraction of its current value.

Refresh grants at AI-era pricing: New refresh grants in 2024–2025 are issued at current NVDA price levels — a materially higher basis than 2020–2022 grants. This means the INR perquisite value at vest will be proportionally high from the start.

Case study: 10 years holding NVDA vs diversifying to S&P 500

Consider an IC5 who received $100,000 of NVDA RSUs vesting from 2014 to 2018.

Scenario A: Held all NVDA shares

• NVDA January 2014: ≈$4.50 (split-adjusted)
• NVDA January 2024: ≈$495 (pre-10:1 split)
• 10-year CAGR: ≈57% (exceptional — driven by gaming GPU dominance, then data center AI)
• $100,000 held → ≈$11,000,000 by January 2024

Scenario B: Diversified into S&P 500 on each vest

• S&P 500 10-year CAGR: ≈13%
• $100,000 → ≈$339,000 by January 2024

NVIDIA is the extreme outlier case. The gap between holding and diversifying is so large that any NVIDIA employee who held from 2014 onward has a net worth story that cannot be replicated by any diversified strategy. However, this is precisely why NVIDIA is a dangerous template for decision-making: the 10-year NVDA CAGR of ~57% is a once-in-a-generation event tied to the specific bet that GPUs would become the compute substrate for AI. No one predicted this magnitude in 2014.

The honest framing: If you hold NVDA today, you are making a bet on continued AI compute dominance. That may well be correct. But the margin of outperformance above the S&P 500 from here is almost certainly smaller than the past decade's margin, and the volatility is high — NVDA fell over 60% in 2022 before its AI-era recovery. Diversifying some portion of vested NVDA shares is not a bad trade-off against that volatility, even if the expected return on NVDA remains high.

US estate tax and UCITS — a risk most RSU holders ignore

Every Indian resident holding US-listed stocks or ETFs in a US brokerage account is a non-resident alien (NRA) for US estate tax purposes. US estate tax applies to NRAs on US-situs assets — which includes shares of US-listed companies held in US brokerage accounts — above a $60,000 exemption threshold.

The estate tax rate on amounts above $60,000 ranges from 18% to 40%. For an Indian engineer with $200,000 in company stock in their brokerage account, the estate tax exposure is approximately ($200,000 − $60,000) × 40% = $56,000 — nearly a third of the portfolio value, payable by the estate to the IRS before assets can be transferred to heirs.

This risk is not theoretical. It applies from the moment a non-resident alien's US-situs assets exceed $60,000.

What counts as US-situs:

• Shares of US companies held in a US brokerage account ✓ Subject to estate tax
• US-domiciled ETFs (VTI, QQQ, SPY) held in a US brokerage account ✓ Subject to estate tax
• Ireland/Luxembourg-domiciled UCITS ETFs (CSPX, VWRA, SWRD on the London Stock Exchange) ✗ Not US-situs — exempt from US estate tax

The practical implication: When you sell company RSU shares and redeploy into index ETFs, choosing UCITS-domiciled equivalents (CSPX for S&P 500, VWRA for global equity) instead of US-domiciled ETFs (SPY, VTI) eliminates the estate tax exposure on the redeployed portion while maintaining similar market exposure.

Dividend withholding: UCITS ETFs domiciled in Ireland benefit from the US-Ireland tax treaty — 15% withholding on US dividends at the fund level, versus 30% for funds domiciled elsewhere. This improves net dividend yield compared to non-Ireland-domiciled funds.

For employees with $60,000+ in RSU shares: the estate tax exposure is live today. It does not require selling — simply holding US-situs assets above $60,000 as a non-resident alien creates the exposure. The mitigation options are: (1) diversify proceeds into UCITS ETFs after selling RSU lots; (2) use a tax-efficient account structure; or (3) consult an estate planning attorney for larger portfolios.

Rovia supports trading in both US-listed stocks and UCITS ETFs — you can hold your company RSU shares in the same account as UCITS positions, giving you flexibility to rebalance gradually without switching platforms.

Next steps

For filing your NVIDIA RSU + PSU + ESPP income:

1. How RSU double-taxation actually works — the 3-event framework
2. Reading your Morgan Stanley StockPlan Connect statement — field-by-field translation (Schwab has the same structure with different labels — concepts transfer)
3. From vest to ITR-2: the complete 12-step workflow — execution layer
4. RSU vesting while in US vs India — if you transferred from Santa Clara back to India
5. Schedule FA disclosure guide — Schedule FA deep dive
6. Schedule FA wizard — V1 supports Morgan Stanley; Schwab support in development

Other employer-specific guides in this series:

• Google (Alphabet) RSU India guide — the 33-22-25-20 vesting split
• Microsoft RSU India guide — On-Hire + ASAs + ESPP at 10%
• Meta RSU India guide — Schwab, PSU multipliers
• Amazon RSU India guide — 5-15-40-40 back-weighted, the Year 3 cliff
• Apple RSU India guide — semi-annual vests, ESPP at 15% with lookback

This article reflects NVIDIA's 2024-2026 grant practices, including the post-split cost basis methodology. PSU multiplier ranges, performance metrics, and the exact PSU portion of refresh grants vary by year and level — verify the specifics against your grant memo and the current equity guide before filing. We refresh this guide annually after each Budget; the framework holds across rate and policy changes.