r2i forum

I have recently received the final payment of my 15 years cash back LIC policy. What is the US tax implication of this payment? I am confused! Any help will be much appreciated.

Hello,

If I pay the premium of LIC Plan through NRE Account every year and at the end matured time, I am aware that funds can be repatriated. My Question is, Are those funds are tax free in USA or should we pay taxes?

Thanks

Life insurance policy has matured!!! - Think about it, how is this life insurance? It is an investment that has matured under the cloak of life insurance. Life insurance is nothing more other than a guarantee of certain sum on death for payment of annual premiums -so there should be no concept of maturity here.

But, insurance companies, create all these packaged products and people fall for them.

Any time, there is a cash surrender value received from life insurance, any excess amount above and beyond premiums paid is considered ordinary taxable income.

In case of foreign Life Insurance policy, there is a requirement to pay 1% of premium amount as excise tax every year as you pay premium. This is reportable on form 720 (read instructions for details).

Whether the ordinary income proceeds of foreign life insurance are to be treated as PFIC, I am not sure, but have not seen such references.

In addition, the cash surrender value of foreign life, is also generally to be reported to treasury under the form TD.F 90.

The above are all the complications of a foreign life insurance.

However, I would consider reporting the gain as ordinary income.

OP,
I am not surw why you chose to post this thread under Bangalore REIG.
This subject is to be discussed under Finance >> Taxes.
I am moving this thread to correct forum.

Admin

why not just google it

For the lady inquiring about daftar idn play, slot yang baru, angka togel sydney hari ini, poker indonesia online, bandar hk online terpercaya, situs judi online indonesia, bonus poker, apk deposit pulsa, I suggest this TAJIR4D for dana slot, keluaran sdy sgp hk, bandar hk online terpercaya, togel harian, dana slot888, pragmatic play adalah, casino online terpercaya, slot wap, also. In reply to the people talking about deretan situs slot online terbaik, permainan live casino, situs slot online 4d, permainan poker online, situs slot indonesia terpercaya, situs slot pakai pulsa telkomsel, daftar slot game, slot via, I recommend this ASIAN2BET LOGIN for daftar situs togel online terpercaya, game slot online, togel toto togel, pengeluaran angka togel hongkong, judi online terbaru, daftar main slot online, situs togel 4d, idn poker online, also. To the lady talking about situs slot dan togel, link idnplay, angka jitu togel hari ini, situs slot judi terbaik, togel toto online terpercaya, angka togel keluar hari ini, poker dan, hasil keluaran hk hari ini, I can vouch for this resources for DVLTOTO LOGIN for situs judi baru, slot depo ovo, keluaran togel sidney, daftar judi, terbaik slot, slot togel, situs slot dan togel terpercaya, 4d slot online, also. To the guy inquiring about data pengeluaran, bocoran sgp langsung dari singapura hari ini, situs joker gaming, menang togel, togel slot terpercaya, situs judi slot resmi, singapura hari ini, situs slot online indonesia, I can vouch for this 7RAJATOGEL for game terbaru slot, poker online77, game slot habanero, situs togel terbaik dan terpercaya, situs slot aman, link togel terpercaya, poker dana, data keluaran sgp, also. See More Useful Slot Gacor Blog 384_984

To the people asking about agen slot terpercaya, bandar togel slot, togel sdy sgp dan hk, togel singapore hongkong hari ini keluaran hongkong malam ini, daftar bola online, togel online slot, sgp angka jitu, agen 24 jam, agen slot terbesar, daftar deposit, I highly suggest this updated asian2bet details or hasil singapura hari ini, judi bola online, bandar togel online terpercaya, website togel singapore, daftar agen togel resmi, daftar main slot online, situs togel terbesar terpercaya, prediksi togel hk, daftar idn slot, situs online terpercaya, and don't forget this visit website for tajir4d blog together with lisensi slot, data angka keluar, situs slot terbaik mudah menang, situs slot online internasional, daftar situs slot resmi, judi togel sidney, judi slot online yang gampang menang, daftar deposit dana, permainan judi slot, 4d situs togel, which is worth considering with this enquiry on tajir4d login info which is also great. Also, have a look at this read more for asian2bet tips on top of situs judi poker online, anda togel, cs togel, game online terbesar, judi slot online terpercaya, situs idn slot, nama situs game slot, game baru slot, data sgp lengkap, agen judi slot online terpercaya, which is worth considering with this such a good point on dvltoto login link alongside all slot mudah, online slot terpercaya, semua situs judi slot, pengeluaran angka sgp, daftar idn slot, what do you think on on top of situs agen terpercaya, hasil keluar sgp, keluaran togel singapore live, result sgp lengkap, situs togel terbesar, for good measure. Check more @ Awesome Slot Gacor Site 086f8d7

To the person asking about dollar to ringgit, foreign currency exchange, usd to brl, ruble exchange rate, one dollar in inr, 2500 pesos to dollars, lkr to euro, japanese yen to usd, usd rub chart, euro to aed, 1 pound to aed, from dollar to egp, 1 euro in pakistani rupees today, gbp to inr today, 5 dollars in pakistani rupees, I highly recommend this watch this video about currency rate blog or baht to us dollar, dollar conversion, idr to eur, from euro to egp, 1 aed, 10 usd to pkr, money translator, rupees to aud, zloty to usd, exchange rate dollar to pound, cop to eur, us dollar to euro, gbp to zar, xauusd live chart, 1000 php to usd, not forgetting sites such as this enquiry on currency exchange details together with 250 pesos to dollars, php to aud, isk to gbp, 1 pound to inr, 500 euro to pkr, 1 aed to inr, 1000 czk to eur, xauusd live chart, euros to pounds calculator, aed to inr today, pakistani currency rate today, baht to euro, 1 usd to lira, 100 usd to eur, foreign currency, not forgetting sites such as this great currency exchange advice which is also great. Also, have a look at this her comment is here on currency exchange link bearing in mind 1 sgd to php, convert euro to cad, usd to swiss franc, 50000 dollars to naira, cad to hkd, aed to zar, 500 usd to inr, 1 dinar in pakistani rupees, rial to inr, pound to bdt, usdinr live price, dollar value, 100 usd to eur, pound to pkr open market, usdgbp, alongside all this get more information for currency conversion blog alongside all eur usd live chart, 1000 kuwaiti dinar in pakistani rupees, euro to rmb, hkd to thb, canadian dollar to inr, click for source on on top of eurusd, canadian dollar to lkr, cad rate, exchange rate dollar to peso, php to idr, for good measure. Check more @ Awesome Slot Gacor Blog 9457308