Tag
pfic
2 posts tagged pfic
- NRI Finance·
Moving from UAE to the US on H-1B: the complete tax transition guide
Transferring from a UAE office to the US on an H-1B? Your NRE account becomes a FBAR-reportable asset. Your Indian mutual funds become PFICs. And NRE interest that was tax-free in both countries is now US taxable. Everything you need to do before and after the move.
- NRI Finance·
PFIC rules for H-1B Indians: why your Indian mutual funds are a US tax trap
Indian mutual funds, ETFs, and ULIPs are PFICs under US tax law. For H-1B and green card holders, this means punitive tax rates, interest charges, and complex Form 8621 filing. Here's what every Indian in the US must know.