FATCA Rules for NRIs in the US With Investments in India

You opened an NRE account at ICICI Bank last year. Filled out a form. Ticked some boxes.

Signed where they asked. One of those forms was a FATCA self-declaration.

You probably did not think much of it. Most NRIs do not.

But here is what that form did. It told ICICI Bank you are a "US person." ICICI Bank now reports your account details, your balance and your income to the Central Board of Direct Taxes (CBDT) in India.

CBDT forwards that information to the IRS in Washington.

The IRS already knows about your Indian accounts. The question is whether you told them about it yourself.

That is what FATCA is. Not just a form you file. A two-way information pipeline between Indian financial institutions and the US government.

And for NRIs in the US with investments in India, understanding both sides of this pipeline is the difference between clean compliance and a USD 10,000 penalty.

At Belong, we work primarily with NRIs in the UAE, where FATCA has minimal practical impact.

But our WhatsApp community includes thousands of US-based NRIs who deal with FATCA every year.

This guide is built from the questions they ask most often.

By the end, you will know exactly what FATCA requires from you, what Indian banks report about you, which form to file, when to file it, and how FATCA differs from the FBAR requirement you may already know about.

What FATCA Actually Is (And Why It Exists)

FATCA stands for Foreign Account Tax Compliance Act.

The US Congress passed it in 2010 as part of the HIRE Act (Hiring Incentives to Restore Employment).

The purpose is straightforward. The US government wants to know about financial assets its taxpayers hold outside the country.

Not to tax them twice (the DTAA handles that). But to make sure they cannot hide money offshore and avoid taxes.

FATCA works on two tracks simultaneously.

Track 1: You report to the IRS.

If your foreign financial assets exceed certain thresholds, you file Form 8938 (Statement of Specified Foreign Financial Assets) with your annual tax return.

Track 2: Indian banks report to the IRS.

India signed an Inter-Governmental Agreement (IGA Model 1) with the US.

Under this agreement, Indian financial institutions (banks, mutual fund houses, insurance companies, brokers) identify accounts held by "US persons" and report those accounts to CBDT. CBDT then shares that data with the IRS (Source: IRS FATCA Summary).

Both tracks run independently.

Even if you file Form 8938 perfectly, Indian banks still report. Even if Indian banks report everything, you still must file Form 8938 if you meet the threshold.

The IRS cross-references both. If the data does not match, you have a problem.

👉 Tip: FATCA is not a tax. You do not pay anything through FATCA. It is a disclosure requirement. But failure to disclose carries penalties that can exceed the tax you would have owed. The IRS takes non-disclosure more seriously than underpayment.

The FATCA Declaration You Signed at Your Indian Bank

Before we get to what you file with the IRS, let us talk about what your Indian bank already knows.

Every Indian financial institution, whether a bank, mutual fund house, insurance company or brokerage, is required to collect a FATCA self-declaration from every account holder. You have seen this form. It is part of the KYC process.

The form asks simple but powerful questions.

Are you a US citizen? Are you a US tax resident? Do you have a US address? A US phone number? A US place of birth? Do you hold a Green Card?

If you answer "yes" to any of these, the institution tags your account as belonging to a "US person."

They then report the following to CBDT annually: your name, address, TIN (usually your SSN), account number, account balance at year-end, and total income credited to the account during the year.

CBDT forwards this to the IRS under the India-US IGA.

What this means for you: Your Indian bank is doing FATCA reporting whether you like it or not. The IRS receives your account data from India.

If you do not also file Form 8938 on your end, the IRS sees a one-sided picture. Their data shows Indian accounts.

Your return shows nothing. That discrepancy triggers scrutiny.

The Rs. 5,000 penalty in India: SEBI has instructed all Indian financial institutions to obtain FATCA declarations.

If your declaration is incomplete, incorrect or missing, the institution can freeze your account, restrict new investments or report you as "recalcitrant" to CBDT.

Indian banks may also levy a penalty of Rs. 5,000 per account for incorrect reporting (Source: CBDT FATCA Guidance, ClearTax).

👉 Tip: If you moved to the US after opening Indian bank accounts and mutual fund folios, update your FATCA declaration with every institution. Many NRIs opened accounts as Indian residents, moved to the US, and never updated. The bank still has your old Indian address. The IRS data exchange flags the mismatch.

Who Needs to File Form 8938?

Not every US person with Indian investments needs to file Form 8938. The thresholds depend on where you live and how you file.

If You Live in the United States

Single or married filing separately: File if your specified foreign financial assets exceed USD 50,000 on the last day of the tax year OR USD 75,000 at any time during the year.

Married filing jointly: File if assets exceed USD 100,000 on the last day of the year OR USD 150,000 at any time during the year.

If You Live Outside the United States

Single or married filing separately: File if assets exceed USD 200,000 on the last day of the year OR USD 300,000 at any time during the year.

Married filing jointly: File if assets exceed USD 400,000 on the last day of the year OR USD 600,000 at any time during the year.

(Source: IRS Summary of FATCA Reporting)

The key word is "specified foreign financial assets."

This includes bank accounts, FDs, mutual funds, stocks held in foreign brokerages, insurance policies with cash value, pension interests and more. It is broader than FBAR, which covers only accounts.

Example: Meena lives in California. She is single. She has an NRE savings account (balance USD 15,000), an NRO FD (USD 20,000) and Indian mutual funds worth USD 25,000 at year-end.

Total: USD 60,000. She exceeds the USD 50,000 threshold. She must file Form 8938.

Example: Arun lives in Dubai (posted by his US employer). He is married, filing jointly. His Indian assets total USD 350,000 at year-end.

His threshold is USD 400,000. He does NOT need to file Form 8938. But he still needs FBAR if his accounts exceed USD 10,000.

👉 Tip: The thresholds for NRIs living abroad are 4x higher than for those living in the US. If you are on a temporary assignment outside the US and qualify as "living abroad" under IRS rules (present in a foreign country for at least 330 days in a consecutive 12-month period), you may avoid Form 8938 even with substantial Indian holdings. Verify with your CPA.

What Goes on Form 8938 (And What Does Not)

Form 8938 covers a wider range of assets than FBAR. Here is the complete list of Indian assets that must be reported.

Must Report on Form 8938

Bank accounts: NRE savings, NRO savings, NRE FDs, NRO FDs, FCNR deposits, GIFT City banking accounts. Report the institution name, address, account number, maximum value and income earned.

Mutual fund holdings: Every Indian mutual fund scheme you hold, whether equity, debt, hybrid, index or sectoral. These are "specified foreign financial assets" even if held directly with the AMC (not in a brokerage account). Report the AMC name, folio number and maximum value.

Demat account holdings: Indian stocks, ETFs, bonds and debentures held in your demat account with Zerodha, ICICI Direct, HDFC Securities or any other broker.

Insurance policies with cash value: LIC endowment plans, money-back policies, ULIPs and any insurance product that accumulates a surrender value. Term insurance (pure protection, no cash value) is generally excluded.

PPF, EPF and NPS: These are financial assets held at Indian institutions. Report them if they contribute to your total exceeding the threshold.

GIFT City investments: FDs, mutual funds, AIFs and PMS accounts at GIFT City IFSC Banking Units. These are foreign financial assets from a US perspective.

Ownership interests: If you own shares in an Indian private company (not publicly traded), that ownership interest is a specified foreign financial asset. Report the company name, your ownership percentage and the estimated value.

Do NOT Report on Form 8938

Indian real estate: Property ownership is not a financial account or financial asset. You do not report your Mumbai flat on Form 8938. (However, rental income from that property goes on your 1040, and the bank account receiving rent goes on FBAR and potentially Form 8938.)

Physical gold or jewellery: Not a financial asset. Not reportable.

US-based India funds: If you own iShares MSCI India ETF (INDA) or similar US-domiciled funds, these are held in US accounts. They are not foreign financial assets.

Assets already reported on other IRS forms: If you report a foreign entity on Form 5471 (foreign corporation), Form 8865 (foreign partnership) or Form 3520 (foreign trust), you can list those forms on Form 8938 without repeating the details. But you must still include them in your total value calculation.

👉 Tip: If you hold Indian mutual funds, they appear on THREE separate filings: FBAR (account value), Form 8938 (asset value) and Form 8621 (PFIC income). The same investment, reported three times, to different agencies, for different purposes. This is why US NRIs with Indian mutual funds face such high compliance costs. Read our guide on reporting Indian mutual funds on US tax returns.

Form 8938 vs FBAR: The Comparison Every NRI Needs

This is the most common confusion. Both require reporting foreign assets. Both have penalties for non-filing.

But they are separate requirements, filed with separate agencies, covering different (overlapping) sets of assets.

The critical takeaway: Most US NRIs with Indian accounts need FBAR (because the USD 10,000 threshold is low). Fewer need Form 8938 (because the USD 50,000 threshold is higher). But if you have mutual funds, stocks and FDs totalling over USD 50,000, you likely need both.

Read our complete FBAR filing guide for the FBAR side of the equation.

👉 Tip: Filing FBAR does NOT satisfy your Form 8938 obligation. Filing Form 8938 does NOT satisfy your FBAR obligation. They go to different agencies. You may need to file both. Check both thresholds every year.

The AMC Problem: Why Many Indian Mutual Funds Reject US NRIs

FATCA has had a chilling effect on NRI investment access. Many Indian Asset Management Companies (AMCs) refuse to accept investments from US-based NRIs.

Why? Because accepting US investors creates FATCA reporting obligations for the AMC.

They must identify US account holders, collect TINs, report account details to CBDT, and maintain compliance systems. For a few hundred US NRI investors, the compliance cost exceeds the revenue.

AMCs that generally restrict US NRIs (as of 2026):

HDFC Mutual Fund, SBI Mutual Fund, Kotak Mutual Fund and several others have policies that restrict or complicate investments from US and Canada based NRIs. Some require in-person verification. Others block online transactions entirely.

AMCs that are more US NRI friendly:

A handful of AMCs (like PPFAS and a few others) continue to accept US NRI investments, though with additional documentation requirements.

The workaround: Many US NRIs invest through existing folios set up before they moved to the US.

AMCs generally allow continued SIPs and additional purchases in existing folios even if they do not accept new US NRI investors. But this varies by AMC and can change without notice.

The better solution: Avoid Indian mutual funds entirely as a US NRI. The PFIC tax treatment, combined with FATCA compliance and AMC restrictions, makes them a triple headache.

Use US-domiciled India ETFs (INDA, EPI, FLIN), direct Indian stocks through PIS, NRE FDs or carefully verified GIFT City products instead.

Read about common mutual fund investment mistakes NRIs make and why the PFIC problem makes Indian mutual funds toxic for US NRIs.

👉 Tip: If you are planning to move to the US and currently have Indian mutual fund SIPs, consider stopping the SIPs and redeeming before your Green Card or H-1B status activates. Once you are a US person, the FATCA reporting + PFIC taxation + AMC restrictions create a compliance burden that rarely justifies the investment return.

How to Fill Out Form 8938: A Practical Walkthrough

Form 8938 has six parts. Here is what goes where for a typical US NRI with Indian investments.

Part I: Foreign Deposit and Custodial Accounts

List every Indian bank account and brokerage account here. For each:

Name of institution (e.g., "State Bank of India, Koramangala Branch").

Address of institution.

Account number.

Whether you opened or closed the account during the year.

Maximum value during the year (in USD, using the Treasury exchange rate).

Whether the account earned income that is reported elsewhere on your return.

This is where your NRE savings, NRO FDs, FCNR deposits, demat accounts and GIFT City banking accounts go.

Part II: Other Foreign Assets

List Indian assets NOT held in an account. This includes:

Indian stocks held directly (not through a broker).

Ownership interests in Indian private companies.

Indian insurance policies with cash value.

Any other specified foreign financial asset not covered in Part I.

For each, provide the issuer/counterparty name, description, maximum value and income earned.

Part III: Summary of Tax Items

Summarize the total income from your foreign financial assets. Interest, dividends, royalties, capital gains, other income.

These amounts should match what you report elsewhere on your 1040 (Schedule B, Schedule D, etc.).

Part IV: Excepted Specified Foreign Financial Assets

List any assets already reported on other IRS forms (Form 5471, 8865, 3520, etc.). You do not need to repeat the full details. Just reference the form number.

Parts V and VI: Additional Details

Provide supplementary information for foreign deposit/custodial accounts and other foreign assets respectively.

Currency conversion: Use the Treasury Reporting Rates of Exchange for December 31 of the tax year for year-end values. For maximum values during the year, use the quarterly rate that covers the period of the maximum balance.

Joint accounts: If you jointly own an account with your spouse, and you file jointly, report the full value on one Form 8938. If filing separately, each spouse reports the full value of joint accounts on their own Form 8938.

👉 Tip: Most US NRIs have 5-15 Indian financial relationships (NRE, NRO, FDs at different banks, a demat account, mutual fund folios, maybe an LIC policy). Listing each one on Form 8938 is tedious but not complex. The hard part is gathering the maximum values. Download statements from January to December for every account. Do this in January for the prior year while the data is fresh.

FATCA Penalties: What Happens If You Do Not File

The IRS takes Form 8938 non-filing seriously. Here is the penalty structure.

Initial penalty: USD 10,000 for failure to file Form 8938 when required (Source: IRS).

Continued failure: If you still do not file after the IRS notifies you, an additional USD 10,000 for each 30-day period of continued non-compliance. Maximum: USD 50,000.

Understated tax penalty: If your failure to disclose foreign assets leads to understated tax on your return, a 40% penalty applies to the understated amount. This is on top of the tax itself.

Extended statute of limitations: If you fail to report a foreign financial asset generating over USD 5,000 of income, the statute of limitations on your entire return extends to 6 years (instead of the normal 3 years).

The IRS gets double the time to audit you.

Reasonable cause exception: Penalties may be waived if you can demonstrate reasonable cause for the failure. "I did not know about the requirement" can work as a defence, but only once and only if you come forward voluntarily.

If the IRS discovers the non-filing first, the "reasonable cause" defence becomes much harder to argue.

The real-world risk: The IRS uses automated systems to cross-reference Form 8938 data with information received from Indian financial institutions under FATCA.

If India reports accounts that do not appear on your Form 8938, the system flags it. You may not hear anything for months or even years. But the flag is in the system.

👉 Tip: The cost of filing Form 8938 is minimal (your CPA includes it in your 1040 preparation, adding perhaps USD 100-300 to your bill). The cost of NOT filing starts at USD 10,000. This is not a close call.

How FATCA Affects Your Indian Investment Strategy

FATCA does not just create paperwork. It actively shapes what you can and should invest in.

Investments That Work Despite FATCA

NRE and NRO Fixed Deposits: Reportable on Form 8938 but straightforward. Interest income goes on Schedule B. No PFIC. Clean and simple. Compare rates on our NRI FD rates explorer.

Direct Indian stocks through PIS: Reportable on Form 8938 (the demat account and individual stock holdings). Capital gains and dividends go on 1040. No PFIC. Indian TDS generates Foreign Tax Credit. Most AMC restriction issues do not apply to stocks.

GIFT City FDs: Reportable but simple. Interest on Schedule B. No PFIC. Read more about GIFT City tax-free returns (noting the nuance for US NRIs).

US-domiciled India ETFs (INDA, EPI): Not foreign assets. Not on Form 8938. Not on FBAR. Standard US tax treatment. The simplest option for Indian equity exposure.

Investments That Create FATCA Headaches

Indian mutual funds: Reportable on Form 8938 AND FBAR AND Form 8621 (PFIC). Triple reporting. Punitive tax. AMC restrictions. Avoid entirely as a US NRI.

Indian ETFs listed on NSE/BSE: Same PFIC treatment as mutual funds. Reportable on multiple forms. Avoid.

ULIPs and endowment insurance: Reportable on Form 8938. May be classified as PFICs. The cash value component creates complexity. Most US NRIs should surrender these.

Indian PPF: Reportable. The IRS position on whether PPF is a PFIC or a "foreign trust" remains ambiguous.

Some CPAs treat it as requiring Form 3520/3520-A (foreign trust reporting), which has its own penalties. If you hold a PPF that was opened before you moved to the US, consult a cross-border CPA.

Explore all investment options on our mutual funds platform and GIFT City mutual funds tool (noting US NRI PFIC caveats). Track the Indian market via our GIFT Nifty tracker. Compare GIFT City AIFs (with PFIC verification).

The Tata India Dynamic Equity Fund, DSP Global Equity Fund, Edelweiss Greater China Equity Fund and Sundaram India Mid Cap Fund are available through Belong. US NRIs should verify PFIC status with their CPA before investing.

👉 Tip: The optimal Indian investment portfolio for a US NRI who wants to minimise FATCA complexity: NRE FDs + direct stocks + US-domiciled India ETFs. Three products. Clean reporting. No PFIC. Minimal CPA cost.

The India Side: What Indian Banks Report About You

Understanding what India sends to the IRS helps you ensure consistency in your own filings.

Under the India-US IGA, Indian financial institutions report the following about US-person account holders to CBDT annually:

Account holder's name, address and US TIN (SSN or ITIN).

Account number.

Name and identifying number of the reporting institution (GIIN).

Account balance or value at the end of the calendar year (or, if the account was closed during the year, the balance immediately before closure).

Total gross amount of interest, dividends and other income paid or credited to the account during the year.

For custodial accounts (demat, mutual fund folios), the report also includes total gross proceeds from sales or redemptions during the year.

CBDT transmits this data to the IRS under the IGA's automatic exchange mechanism. The IRS receives it and stores it in its compliance databases.

The practical implication: If your NRO FD paid Rs. 1 lakh in interest and ICICI Bank reported that to CBDT, the IRS knows about that Rs. 1 lakh. If it does not appear on your Schedule B, you have a mismatch. Mismatches trigger examination.

What India does NOT report: Property ownership, physical gold, loans given to individuals, informal chit fund contributions and other non-institutional holdings. But income flowing into reported bank accounts (like rental income deposited in your NRO) is visible through the account balance data.

👉 Tip: The best way to stay safe is to assume the IRS already knows everything about your Indian financial accounts. Because under FATCA, they likely do. File accordingly.

FATCA When You Are Returning to India

If you are planning to move back to India, your FATCA obligations change based on your US status.

While you are a US person (citizen, Green Card holder, or passing Substantial Presence Test): Full FATCA filing. Form 8938 every year if thresholds are met. No exceptions.

After surrendering Green Card: Your FATCA obligation ends for future years. But you must file a final 1040 and a final Form 8938 for the year you surrendered the card. There may be exit tax implications if your net worth exceeds USD 2 million.

After failing the Substantial Presence Test (H-1B holders who leave): FATCA obligation ends from the first year you no longer qualify as a US tax resident. File a final 1040-NR or a dual-status return for the year of departure.

US citizens who move to India: FATCA obligation NEVER ends. US citizens owe worldwide reporting regardless of where they live. Living in India does not exempt you. Only formal renunciation of citizenship ends the obligation.

Read about RNOR status and the financial checklist for returning NRIs.

👉 Tip: If you hold a Green Card and are moving to India permanently, formally surrender it through USCIS. Simply living in India does not end your FATCA obligations. Many returning NRIs keep their Green Card "just in case" and discover years later that they still owe US tax returns, FBARs and Form 8938 filings. The compliance cost of maintaining an unused Green Card is substantial.

What If You Have Not Been Filing Form 8938?

If you have been filing your 1040 but missed Form 8938 for previous years, you have options.

Streamlined Filing Compliance Procedures.

If your failure was non-willful (you did not know about the requirement), you file 3 years of amended/delinquent 1040s (with Form 8938 attached) and 6 years of delinquent FBARs.

The Streamlined Domestic procedure carries a 5% penalty on the highest aggregate balance of foreign accounts. The Streamlined Foreign procedure (for those living abroad) has zero penalty.

Delinquent Form 8938 filing.

If you have been filing 1040s correctly and only missed Form 8938, you can attach the missing forms to your next return with a reasonable cause statement. There is no specific formal procedure for this, but it closes the statute of limitations gap.

What NOT to do: Quietly start filing Form 8938 this year without addressing prior years. The IRS calls this "quiet disclosure" and has explicitly warned against it. If they discover prior-year non-filing, they may treat your violation as willful, which carries harsher penalties.

The FATCA data is already there.

Indian banks have been reporting your accounts to the IRS since India signed the IGA.

The IRS has years of data about your Indian accounts. Coming forward voluntarily through the Streamlined program is always better than waiting for the IRS to come to you.

Read our FBAR filing guide for detailed catch-up procedures (the process is similar for FBAR and Form 8938 catch-ups).

👉 Tip: The Streamlined program is available only for non-willful violations. If you knew about FATCA and deliberately chose not to file, you do not qualify. In that case, consult a tax attorney (not just a CPA) before taking any action.

Annual FATCA Compliance Calendar for US NRIs

Here is your year-round FATCA workflow.

January: Download all Indian bank statements, FD certificates, mutual fund account statements and demat holding statements for the calendar year just ended. Note the maximum value each account reached during the year.

February: Convert all maximum values to USD using the Treasury exchange rate for December 31. Add them up. Compare to your filing threshold based on your filing status and residence.

March: If you exceed the threshold, prepare Form 8938. Your CPA should include it in your 1040 preparation. If you are doing it yourself, the form is available at irs.gov.

April 15: File Form 8938 with your 1040 (or file an extension via Form 4868). If you file an extension, Form 8938 follows the same extended deadline.

October 15: Final deadline for extended 1040 and Form 8938.

Ongoing: If you open or close any Indian financial account during the year, keep records. If you update your FATCA self-declaration at an Indian bank (address change, status change), keep a copy. These details feed into next year's Form 8938.

Year-round rule: If your personal details change (new address, new TIN, marital status change), inform every Indian financial institution within 30 days. Outdated FATCA declarations can cause account freezes.

Common FATCA Mistakes US NRIs Make

After seeing hundreds of US NRI tax situations in our community, these are the errors that repeat every year.

Mistake 1: Confusing FATCA with FBAR.

They are different requirements. Different forms. Different agencies. Different thresholds. You may need to file both. Never assume one covers the other.

Mistake 2: Using year-end balance for FBAR but forgetting the "anytime" threshold for Form 8938.

Form 8938 has TWO thresholds: year-end AND anytime during the year.

Your assets could be below the year-end threshold but exceed the anytime threshold because of a spike in mid-year (rental deposit received, mutual fund NAV increase, etc.).

Mistake 3: Not updating FATCA declaration at Indian banks after moving to the US.

You opened accounts as an Indian resident. You moved to the US. Your bank still has your old status.

Update immediately. Failure to update means the bank may not report your account correctly, and you may face complications later.

Mistake 4: Thinking NRE accounts are exempt because interest is tax-free.

NRE FD interest is tax-free in India. It is NOT exempt from FATCA reporting in the US. The account must appear on Form 8938 if thresholds are met. The interest must appear on your 1040 as ordinary income.

Mistake 5: Not reporting Indian mutual funds on Form 8938 because they are already on Form 8621.

Form 8621 (PFIC) reports income treatment. Form 8938 reports asset existence. Both are required. Reporting on one does not satisfy the other.

Mistake 6: Forgetting about old PPF, EPF or LIC policies.

These are financial assets. They count toward your threshold. If they push you over USD 50,000, you must file.

Read about tax filing mistakes NRIs make for more common errors.

👉 Tip: Create a master spreadsheet of every Indian financial account and asset you hold. Update it annually. Include account number, institution name, type of account, maximum value in INR and USD. This one document feeds both your FBAR and Form 8938 with minimal effort each year.

How FATCA Interacts With the India-US DTAA

FATCA is a reporting requirement. The India-US DTAA is a tax treaty. They operate on parallel tracks.

FATCA does not change your tax liability.

It changes your reporting obligation. The DTAA determines how much tax you pay (through Foreign Tax Credits). FATCA determines what you disclose.

Where they intersect: The DTAA allows you to claim Foreign Tax Credit on your US return for Indian taxes paid.

You report those Indian taxes on Form 1116. But to claim FTC, your Indian income must be fully disclosed on your 1040. And for that disclosure to be complete, Form 8938 must list all the assets generating that income.

If Form 8938 shows a gap (missing account, unreported asset), the IRS may question your FTC claims. FATCA compliance and DTAA benefits are linked through the consistency of your disclosures.

Read about avoiding double taxation for NRIs and the India-specific DTAA framework.

The Bottom Line: FATCA Is Paperwork, Not a Tax

FATCA is not charging you money. It is asking you to disclose. The disclosure is mandatory. The penalties for non-disclosure are severe. But the actual filing is not complicated once you understand what goes where.

For most US NRIs with Indian investments, FATCA compliance means one additional form (8938) attached to your annual 1040. Plus a FATCA self-declaration at each Indian financial institution. That is it.

The real cost is not the form. It is the investment decisions FATCA forces. AMC restrictions. PFIC treatment. Triple reporting for mutual funds. These are the structural consequences that shape how you should invest.

The smart US NRI does not fight FATCA. They structure their Indian investments to minimise FATCA complexity while maximising returns. NRE FDs. Direct stocks. US-domiciled ETFs. GIFT City FDs. Simple products. Clean reporting. Low compliance cost.

Many US-based NRIs in our community share their FATCA filing experiences, CPA recommendations and investment structures every tax season. Join the conversation on our WhatsApp community through the Belong app.

The IRS already knows about your Indian accounts. Make sure you are telling them the same thing.

Disclaimer: This article is for educational purposes only and does not constitute tax, legal or financial advice. FATCA rules are complex and depend on individual circumstances. Consult a qualified CPA or tax attorney who specialises in US-India cross-border taxation before making reporting or investment decisions. Tax laws and IRS interpretations are subject to change.