Form 8938 for Indian Investment Disclosure While the FBAR is a broad report for all foreign accounts, Form 8938 (Statement of Specified Foreign Financial Assets) is a deeper dive...
HDFC Mutual Fund a PFIC Under IRS Rules Yes. For nearly all U.S. tax residents, including those on H1B, L1 visas, or holding Green Cards, HDFC Mutual Fund units...
Are HDFC Mutual Fund Dividends Taxable in the US? The short answer is yes. If you are a U.S. tax resident, dividends from HDFC mutual funds are fully taxable...
Did Not Report HDFC Mutual Fund Gains If you realized that you didn’t report gains or holdings for your HDFC mutual funds on past U.S. tax returns, you aren’t...
Indian mutual funds may feel safe and familiar to investors, but for U.S. taxpayers, they’re a PFIC landmine. Thousands of Indian-Americans investing in ICICI, HDFC, SBI, or Nippon funds...