WhatsApp
Call Us
Email Us
Whatsapp Community
Would you like to schedule a call back
Your Trusted NRI Tax Consultant for FATCA, FBAR, PFIC, 8621, 8938, Gift Tax, and Global Asset Disclosures in India, USA, UK, Canada & Australia
Are you an NRI struggling with complex cross-border tax disclosures and compliance obligations? Whether you're an NRI investing in Indian mutual funds, earning rental income in India, holding offshore bank accounts, or repatriating funds abroad — you're subject to global tax laws like FATCA (Foreign Account Tax Compliance Act), FBAR (FinCEN Form 114), PFIC (Form 8621), IRS Form 8938, Form 709, and Schedule FA under Indian Income Tax Act. Non-compliance can result in penalties, delayed refunds, blocked remittances, or prosecution.
We assist US NRIs and NRIs in CRS-participating countries with:
Filing FATCA declaration while investing in Indian financial instruments.
Form 8938 filing along with US tax return (Form 1040) if foreign assets exceed the specified threshold.
FATCA Form 61B reporting by Indian financial institutions – monitored and validated.
CRS (Common Reporting Standard) compliance for UK, Australia, and Canada-based NRIs.
We ensure timely filing of FBAR for US NRIs who have:
Aggregate foreign account balances exceeding $10,000 at any time during the year.
NRE/NRO accounts, foreign mutual funds, foreign bank accounts, insurance policies with cash value, Demat accounts, and more.
Guidance on electronic filing via the BSA E-Filing portal.
Form 8938 must be submitted with the US Individual Tax Return (Form 1040) when:
Foreign financial assets exceed $50,000 (single) / $100,000 (married filing jointly).
Includes bank accounts, foreign pensions, stocks, mutual funds, ULIPs, and foreign partnership interests.
We analyze thresholds, asset classification, and optimize disclosure strategy.
We handle detailed PFIC compliance for US NRIs with investments in Indian mutual funds:
Each mutual fund typically qualifies as a Passive Foreign Investment Company (PFIC).
Filing Form 8621 for each fund held during the tax year.
Strategic guidance on Mark-to-Market (MTM) vs. Excess Distribution Method.
Avoid double taxation and optimize your tax impact.
If you are gifting more than $18,000 (2025 limit) to any single individual:
You must file IRS Form 709 even if no tax is due.
Lifetime gift and estate tax exemption monitored.
Applicable when gifting funds to family in India or transferring property.
If you missed disclosing foreign accounts or assets due to non-willful conduct:
SFOP allows backfiling of FBARs and FATCA forms without penalties.
Suitable for US NRIs residing abroad.
Certification of non-willfulness required.
For NRIs residing in the US who failed to disclose foreign accounts:
SDOP requires amending prior tax returns and filing FBARs.
5% penalty on the highest account balance.
Helps avoid criminal prosecution.
Indian residents (Ordinarily Resident) must disclose:
Overseas bank accounts, stocks, insurance, mutual funds, trust interests.
Schedule FA in ITR-2 or ITR-3 is mandatory.
We assist in identifying asset types, valuations, and correct categorization.
To avoid TDS mismatches and wrong tax deductions:
Update your PAN residential status to NRI.
File PAN correction via NSDL/Protean.
Attach passport, visa, OCI/PIO card, and foreign address proof.
Worldwide Disclosure Facility (WDF) is being used to disclose a UK tax liability that relates wholly or in part to an offshore issue.
WDF does not offer such favourable terms but it is still in your benefit to disclose as soon as possible to avoid hefty penalties. It can be used by any person who needs to disclose a UK tax liability in relation to an offshore income or gain. The same applies for all tax years up to and including 2023/24.
How can we Help
Our team of Chartered Accountants and international tax professionals will assist you with:.
How can we Help
FATCA is a US law requiring foreign financial asset disclosure by US taxpayers, including NRIs. Compliance involves providing FATCA declarations and filing Form 8938
Yes, both may be required depending on thresholds. FBAR is filed via FinCEN, Form 8938 with your IRS tax return.
Yes, most Indian mutual funds qualify as PFICs and require Form 8621 to be filed with US taxes.
Penalties can go up to $10,000 per violation and even criminal charges in willful cases.
Schedule FA is a section in ITR 2/3 to disclose overseas financial assets by ordinarily resident individuals.
Form 709 is for reporting US gift tax. It's required when gifts exceed $18,000 (in 2025) per recipient annually.
Yes. The SFOP (USA), SDOP (USA), and WDF (UK) allow late disclosures for non-willful taxpayers.
File a correction request with NSDL or Protean with valid NRI proof like passport, visa, etc.
FCA, B.Com (H)
-min.png)
FCA, ACCA, B. Com (H)
MBA (Int'l Banking & Finance), LLB, B. Com (H)
ACA, CISA, B. Com (H)
FCA, B.Com (H)
CPA(USA), CA, CISA, B.Com (H)
EA, CA, M.Com, B.Com (H)
CPA, CA, B. Com (H)
FCA, B.Com (H)
FCA, ACCA, B. Com (H)
MBA (Int'l Banking & Finance), LLB, B. Com (H)
ACA, CISA, B. Com (H)
FCA, B.Com (H)
Shailendra is a Fellow Chartered Accountant and brings over 15 years of extensive experience in Statutory audit, Transfer pricing, NRI Taxation, Tax litigation & advisory in the direct tax matters. He has assisted and successfully represented several corporates at various levels of authority of Banks as well as with the Income Tax department. He has been a core contributor in Debt Structuring & Distribution engagements.
CPA(USA), CA, CISA, B.Com (H)
Sanyam is a CISA, Chartered Accountant, and licensed CPA from the State of Montana with an extensive experience in governance, risk, and compliance (GRC). He has worked in various compliance frameworks including SOC2, HIPAA, Hitrust, PCI, GDPR and ISO. He is an active member of several prestigious international associations like the Indo-American chamber, PHD Chamber, and ISSME. He also has extensive experience in auditing, US taxation and transfer pricing.
EA, CA, M.Com, B.Com (H)
An Experienced Chartered Accountant having rich experience across blue chip IT companies across Europe and India. She has strong exposure of commercial finance and holds proficiency in handling complex situations related to US GAAP and IFRS.
She is a commerce graduate from Shri Ram College of Commerce, Delhi University.
CPA, CA, B. Com (H)
With over 21 years of experience, Mr. Abhishek Batra specializes in NRI taxation and cross-border corporate tax strategies. His expertise spans tax planning, compliance advisory, and financial structuring, helping individuals and businesses navigate complex international tax regulations.
Based in Canada, Mr. Batra offers tailored solutions to NRIs, expatriates, and global companies with operations in India. A Chartered Accountant, CPA, and SRCC graduate, he is known for delivering impactful financial strategies that support growth and compliance.
.webp)
