Relocation to India - Tax Implications
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- Joined: Thu Apr 17, 2025 11:28 pm
Relocation to India - Tax Implications
I am presently residing in the United States and intend to return to India later this year. I need to transfer funds from my checking account in the U.S. to my Non-Resident External (NRE) account in India. Are there any tax consequences associated with this transfer? Additionally, is there any documentation required for submission to the IRS or to the Indian Govt? I heard that I might have to file a form 8839 and FBAR as well? I would greatly appreciate any insights or guidance from those who have experience with this process. Thank you.