Question 1

Didn't disclose US stocks (IndMoney account) in Schedule FA — now NRI. What are my options? Tax implications of selling as NRI

Accepted Answer

Start by confirming your residential status for each year you missed, whether Schedule FA applied that year, and whether revised-return windows are still open. Check if any notice or Black Money Act exposure exists. Do not sell or file revisions blindly—document the facts and get specialist review before you act.

Question 2

Fbar form question

Accepted Answer

If you are a US person and foreign account balances cross FBAR thresholds, small fixed deposits still count toward the aggregate maximum. Indian NRE/NRO/FCNR balances can trigger US reporting—get US-side tax review if you are unsure.

Question 3

India NRO & NRE accounts - FBAR IRS

Accepted Answer

If you are a US person for tax purposes, Indian NRE, NRO, and FCNR accounts can count as foreign financial accounts for US reporting. FBAR and FATCA/Form 8938 use different thresholds. Reporting depends on account count, maximum balances, ownership, signature authority, and your status—get US-side tax help if you are unsure.

Question 4

What happens if I don't report a gift from India?

Accepted Answer

US taxpayers may have US reporting duties on large foreign gifts or inheritances even when they are not income-taxable. On the India side, document source, relationship, amount, and tax character. Get cross-border advice before you file.

Desi Return Compliance Score.

Related tools

Questions people ask

Desi Return Compliance Score.

Related tools

Questions people ask