PRO NRI Money Matters · Premium

The NRI Profiler — your personal India-money playbook.

One 60-second walkthrough. Seven modules. Every recommendation adapted to your citizenship, residency, US/India exposure, and goals.

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This is what you get

In 60 seconds, a 13-section playbook built around your situation.

Real action items · quantified leaks · pre-flagged compliance traps · specific account names · priority-ordered moves.

↓ Below is the actual report for one returning-NRI case. Yours adapts every line.

01
The situation
Raj · 41 · returning to Mumbai in 6 months
Indian + US green-card · 12 yrs US · $400K Schwab · 1 kid · dependent parents
Citizenship: Indian + US green-card
Years in US: 12 (San Francisco)
Move date: September 2026
India days this FY: <60
US brokerage: $400K Schwab
Retirement: 401(k) $180K · Roth $45K · HSA $14K
Pending RSU vests: $120K over 18 mo
India banking: HDFC NRE + NRO
India income: ₹6L inherited rental
Spouse: Indian citizen, returning
Kid: 1, US-born, age 6
Parents: 68, 65, Mumbai, dependent
02
Your residency status
FEMA: NRI · Tax: NR · RNOR window 2 yrs
Qualifies under Sec 6(6) · RNOR FY 2026-27 + FY 2027-28 · your biggest planning lever
03
Money you're leaking
$4,200/yr + $24-36K one-time
$1,400/yrSchwab international wire fees → ACATS to IBKR
$1,100/yrFX spread on bank wires → use Wise / IBKR Convert
$600/yridle USD sweep at 0.4% → move to VUSXX MMF (4.5%)
$500/yrHSA not maxed → contribute $4,150 in final US year
$400/yrNRO TDS not reclaimed → file DTAA Form 67
$200/yrRoth IRA skipped → max $7K before move date
$24-36K one-time — US capital gains NOT realized during RNOR ($80-120K unrealized × 20-30% tax)
04
Tax — exploit RNOR ruthlessly
6 priority actions during your 2-year RNOR window
US gains realization · Roth conversion · HSA reimbursements · RSU timing · state cleanup · dual-status return
NOT taxable in India during RNOR
  • US RSU vests (US tax only)
  • US capital gains at Schwab / IBKR
  • US interest, dividends, Roth withdrawals
  • 401(k) distributions (DTAA shields)
Taxable in India during RNOR
  • India-sourced income only — your ₹6L rental
  • 30% TDS on NRO interest — reclaim via DTAA Form 67
Priority moves
  1. Realize Schwab capital gains aggressively — $80-120K unrealized saves $24-36K post-RNOR tax
  2. Roth conversion of Traditional IRA — US tax only during RNOR
  3. HSA reimbursements you've been deferring — trigger now
  4. RSU vest timing — accelerate or defer based on bracket
  5. California state tax cleanup — document domicile break
  6. Final dual-status 1040 — plan with CPA Q1 of move year
05
FATCA / FBAR / Schedule FA
5 filings required · penalties $10K to ₹10L
HDFC/ICICI already report you to IRS via FATCA IGA — can't hide
  • FBAR (FinCEN 114) · >$10K aggregate non-US accounts · penalty $14K/violation, willful up to $156K
  • Form 8938 (FATCA) · $50K year-end / $75K any-time (doubled if joint) · penalty $10K + $50K continuing
  • Schedule B Part III · yes/no foreign account question on 1040 · always Yes
  • Schedule FA (Indian ITR-2) · mandatory once Resident · discloses ALL foreign assets · penalty ₹10L (Black Money Act)
  • Form 8621 (PFIC) · EACH Indian MF if you're US-tax-resident · punitive · avoid Indian MFs while US-tax-resident
06
Brokerage — close / keep / convert
9 brokers to close · 4 to keep · ACATS path
Robinhood / Webull / M1 restrict within weeks of address change
CLOSE before move

Robinhood · Webull · M1 Finance · Wealthfront · Betterment · E*Trade · Public · SoFi Invest · Stash · most US neobanks

KEEP (allow non-US-resident with W-8BEN)

Interactive Brokers (IBKR) — best cross-border · Schwab International · Fidelity (case-by-case) · Roth IRA / 401(k) / HSA at any custodian

CONVERT

Schwab US → ACATS to IBKR (free, 5-7 biz days, file W-8BEN at IBKR) · 401(k) leave with employer or roll to IBKR IRA

⚠ Don't leave Robinhood "alive." They restrict on address change — within weeks.
07
Securities — what to own
US + Ireland-domiciled + Indian MFs + GIFT City
Ireland ETFs avoid US estate tax · skip US mutual funds (PFIC)
US side at IBKR
  • Cash: VUSXX (Vanguard Treasury MMF, 4.5%) · BIL / SHV (short-duration Treasury ETFs)
  • US equity: ITOT / VTI (total US) · IVV / VOO (S&P 500)
  • International equity: IEFA (developed ex-US) · VWO (emerging)
  • Bonds: AGG (US aggregate) · GOVT (Treasuries) · MUB (munis tax-free)
Ireland-domiciled (no US estate tax)
  • VWRA (FTSE All-World) · 15% div withholding vs 30% US
  • CSPX (iShares S&P 500 UCITS) · same exposure, non-US-situs
  • EIMI (iShares EM, Ireland)
India side (post-arrival)
  • Index: UTI Nifty 50 · ICICI Pru Nifty Next 50 · Mirae NYSE FANG+
  • Active: Parag Parikh Flexi Cap · ICICI Pru Bluechip · HDFC Hybrid
  • Debt: HDFC Corporate Bond · SBI Magnum Gilt
  • Gold: Nippon India Gold BeES
GIFT City (USD, no FEMA limit during RNOR)
  • HDFC IFSC USD FD 4.5% · ICICI IFSC USD MMF · IFSC AIFs Cat I/II
⚠ AVOID: US-domiciled mutual funds (PFIC) · individual Indian stocks via PIS · ULIPs · Indian crypto (30% flat + 1% TDS)
08
Indian banking
Keep HDFC NRE+NRO · add FCNR USD · convert NRE→RFC on arrival
FCNR locks 4.5% USD, INR-hedged, tax-free during RNOR
  • Keep: HDFC NRE + NRO (don't close)
  • Add before move: FCNR USD at HDFC · 4.5% · 1-5 yr terms · tax-free RNOR
  • On arrival: NRE → RFC (Resident Foreign Currency) preserves USD
  • On arrival: NRO → Resident Savings (auto-convert)
  • Skip: 2nd bank — consolidate to HDFC
💡 Pre-move park $50-100K in FCNR USD instead of Schwab sweep (0.4%). Earn 4.5%, INR-hedged, tax-free.
09
Insurance
Term life NOW in India · health for self + parents · visitor cover
Indian term life 75% cheaper than US — lock before 45
  • Term life (buy NOW): HDFC Click 2 Protect / Max Life Smart Term · ₹2Cr cover ~₹20-30K/yr
  • Health for self: HDFC Optima Restore / Niva Bupa ReAssure · ₹15-30L · ~₹25-40K/yr family floater
  • Health for parents (68, 65): Niva Bupa Senior / HDFC ERGO Optima Senior · ₹15-25L · ~₹35-50K/parent/yr
  • Visitor cover: when parents visit US — IMG / ATLAS / GeoBlue $80-200/mo
  • Cancel post-move: US health · US auto · US renters/homeowners
10
Credit cards
Keep premium US · close domestic-only · apply Indian cards pre-move
India credit history starts at zero — pre-approved cards become foundation
  • Keep: Amex Platinum · Chase Sapphire Reserve · Amex Gold
  • Close before move: US store cards (Target, Best Buy) · Capital One Venture · most Citi cards
  • Apply pre-move (impossible after): HDFC Infinia (₹50L FD-backed or income) · ICICI Emeralde · Axis Magnus · Amex India Platinum Travel
11
Parents in India
5 specific items · senior cover · joint NRO · Indian will
FEMA gifts to parents have no cap + no Indian gift tax
  • Health top-up for parents (68, 65) — ₹15-25L cover ~₹35-50K/parent/yr
  • FEMA gift to parents — no cap, no India gift tax. Use Wise / Remitly
  • Joint NRO with parent (Either or Survivor) — auto succession
  • Indian will — separate from US/foreign will
  • Apartment succession — confirm nominee on building society + LIC
12
Estate planning — Form 706 exposure
$80-120K US estate tax exposure flagged
Green-card holder = $60K exemption (not $13.6M citizen exemption)

As a green-card holder moving back, you become a "non-resident alien" for US estate tax. Exemption drops from $13.6M to $60,000.

  • Your $400K Schwab: $340K exposed to 18-40% estate tax at death
  • 401(k), Roth, HSA: also US-situs, also exposed
  • Estimated estate tax bill: $80-120K if no action
Priority moves during RNOR
  • Restructure to Ireland-domiciled ETFs (VWRA, CSPX) — non-US-situs
  • Life insurance in trust to fund residual estate tax
  • US will + India will (separate jurisdictions)
  • Spouse: non-citizen capped at $185K/yr gifts (no unlimited deduction)
✓ India has no inheritance tax (abolished 1985). But Schedule FA disclosure creates succession scrutiny.
13
🏆 Concierge flagged
Your case warrants white-glove hand-holding
Form 706 exposure + brokerage transfer + RNOR optimization + family timing — Concierge complexity tier.
Inquire about Concierge →
Your report adapts to your answers — every section above changes. Run yours ↑
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Built by

NRI Money Matters is built solo by Amish Kapadia — 28 years on Wall Street, now back in Mumbai running the same playbook from this side. Zero paid placements. Affiliate disclosure on every page. Recommendations ranked by reader benefit, not commission.

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FAQ

Before you sign up.

What happens after I subscribe?
You'll get a magic-link sign-in email (15-min validity). Click it to land on your dashboard. From there, run the Profiler — it walks you through 5-13 questions about your situation, then generates your full 7-module report. Re-run it any time your situation changes (new job, moving country, marriage, RNOR triggered, etc). Alerts and personalised recommendations turn on automatically.
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Yes. Monthly billing cancels at the next cycle; annual is refunded pro-rata for the unused months if you cancel within 90 days, no questions asked. Your saved profile stays — you can still use the free tools and re-subscribe later without losing your data.
What's "Concierge" and is it separate?
Concierge is a separate human-delivered service for NRIs who want me to project-manage their cross-border setup — typically returning NRIs handling brokerage transfers, NRE/NRO opening, RNOR planning, and tax filing coordination with a vetted CA. Sold as packages ($1,500-$5,000+), capped at 10 clients/year. Pro members get $100 off any package. Inquire at [email protected].