This NRI 401k Mistake Cost ₹30 Lakh
The Long Game by Mihir Shah
Episode notes
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 ...
Keywords
financial independenceFIREinvestingfinancial freedomearly retirementhow to retire earlynrinri tax401kus to india