This NRI 401k Mistake Cost ₹30 Lakh

This NRI 401k Mistake Cost ₹30 Lakh

If you are planning to move from the US to India, your 401k, IRA, RSUs, US stocks, brokerage account, and foreign asset reporting can all become complicated very quickly.

In this episode of The Long Game, I speak with Megha about the tax mistakes NRIs and returning Indians should avoid after moving back to India.

We discuss:

  • Where 401k withdrawals are taxed after moving to India
  • Periodic withdrawals vs lump sum withdrawals
  • Why the 10% early withdrawal penalty can still apply even if you live in India
  • How to think about 401k and IRA withdrawals during RNOR status
  • Why missing the RNOR window can cost lakhs
  • Whether you can keep your US brokerage account after moving to India
  • How US stocks are taxed after becoming an Indian resident
  • Why gains may be calculated in INR, not USD
  • How RSUs are taxed when they vest after moving to India
  • What happens if you sell a US house before or after becoming an Indian resident
  • Foreign asset reporting in India
  • Why non-disclosure can create serious penalties
  • Why you may need both a US CPA and an Indian CA

This episode is for education and general awareness only.

Please do not treat this as personal tax advice. If you are planning to move from the US to India, speak to a qualified CPA and Indian CA who understand both countries.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(24)

NRIs: Your Spouse May Not Get Everything

NRIs: Your Spouse May Not Get Everything

Most people assume that if something happens to them, their spouse will automatically get all their assets.But that may not always be true.In this episode, I speak with Nikhil Varghese about estate pl...

5 Sep 15min

Don’t Move Abroad for FIRE Until You Understand This | Sai | TLG 22

Don’t Move Abroad for FIRE Until You Understand This | Sai | TLG 22

A lot of Indians think moving abroad is the fastest shortcut to financial freedom.Earn in a stronger currency. Save in rupees. Come back to India. Retire early.But is it really that simple?In this epi...

23 Aug 20min

Fired Twice in 12 Months, Then He Did This

Fired Twice in 12 Months, Then He Did This

Most salaried people build their life around one assumption:The salary will keep coming.But what happens when it suddenly stops?My guest Amaresh was fired twice in one year. The first time, he had a h...

8 Aug 23min

₹2,500 Salary to ₹10 Crore: The Mistakes That Built His Wealth

₹2,500 Salary to ₹10 Crore: The Mistakes That Built His Wealth

Most people hear “₹10 crore corpus” and assume the person must have had a high-paying job, inheritance, or one lucky investment.But Prasad sir’s journey started with a salary of just ₹2,500 per month....

24 Jul 21min

He Built ₹15 Crore as a Salaried Employee — Then Work Became Optional

He Built ₹15 Crore as a Salaried Employee — Then Work Became Optional

He Built ₹15 Crore as a Salaried Employee — Then Work Became OptionalYouTube Description:Most salaried Indians think financial freedom needs a business, inheritance, or one lucky investment.But Amrend...

18 Jul 21min

He Had 125 Mutual Funds… But No Real Financial Plan

He Had 125 Mutual Funds… But No Real Financial Plan

A lot of people think they need more income to feel financially secure.But sometimes the real problem is not income.It is the lack of a real financial plan.In this episode of The Long Game, I speak wi...

13 Jun 15min

₹1 Lakh Salary, No Savings — The EMI Trap Indians Ignore

₹1 Lakh Salary, No Savings — The EMI Trap Indians Ignore

A high income does not automatically mean financial strength.Many Indians are earning well, but still feel financially stressed because most of their salary is already committed to EMIs, rent, lifesty...

6 Jun 25min

Populært innen Business og økonomi

stopp-verden
dine-penger-pengeradet
lydartikler-fra-aftenposten
e24-podden
rss-penger-polser-og-politikk
rss-borsmorgen-okonominyhetene
rss-skravla-gar
rss-pa-konto
pengepodden-2
finansredaksjonen
livet-pa-veien-med-jan-erik-larssen
rss-orjasater
utbytte
lederpodden
tid-er-penger-en-podcast-med-peter-warren
pengesnakk
morgenkaffen-med-finansavisen
stormkast-med-valebrokk-stordalen
rss-markedspuls-2
liberal-halvtime