NRI Knowledge Base

Did You Know?

Essential resources, rules, and tips every NRI in the USA should know — from USCIS links to smart banking and tax.

USCIS — Immigration & Status

Check Case Status

Track your H-1B, Green Card, or any USCIS petition in real time.

H-1B Cap Tracker

Official H-1B lottery info, filing dates, and cap season updates.

Employment Authorization (EAD)

Apply for or renew your work permit (Form I-765).

Adjustment of Status (I-485)

Apply for permanent residence if you are in the US.

Visa Bulletin

Monthly priority dates for EB-2, EB-3, and family-based Green Cards.

National Visa Center (NVC)

Immigrant visa processing for those outside the US.

Best Banks for NRIs in USA

SBI (State Bank of India)

Largest Indian bank. NRE/NRO accounts, remittance, home loans. Best for those with family in SBI branches.

ICICI Bank NRI Services

Strong US presence, easy app, NRE/NRO FDs, instant transfers via ICICI Money2India.

HDFC Bank NRI

Premium NRI accounts, lowest transfer fees with HDFC QuickRemit from the US.

Axis Bank NRI

Good FD rates, Axis Remit for direct US→India transfers.

Federal Bank NRI

Popular in Kerala community, good rates, FedNet for remittance.

Chase (US) — Wire to India

Use only for urgent wires. High fees ($40–$50) and poor exchange rate. Better to use Wise/Remitly.

NRI Accounts — What You Need to Know

· NRE Account (Non-Resident External) — holds foreign earnings converted to INR. Fully repatriable, interest is tax-free in India.

· NRO Account (Non-Resident Ordinary) — for India-sourced income (rent, dividends). Repatriation limited to $1M/year. Interest taxed in India.

· FCNR Account (Foreign Currency Non-Resident) — hold USD/GBP/EUR deposits in India. No currency risk, fully repatriable.

· You MUST convert your savings account to NRO within 3 months of becoming NRI — RBI regulation.

· NRE FD rates are currently 6.5–7.5% (tax-free in India) — far better than US savings accounts at ~5%.

· FEMA (Foreign Exchange Management Act) governs all money movement. Keep records of all transfers.

Tax — US & India

FBAR (FinCEN 114)

Required if you have Indian bank/investment accounts exceeding $10,000 at any point in the year. Deadline: April 15, auto-extended to Oct 15.

FATCA (Form 8938)

Report foreign financial assets above $50,000 (single) or $100,000 (married) with your 1040.

US-India Tax Treaty

Prevents double taxation on income. Key for F-1 students and H-1B workers.

IRS Free File

Free federal tax filing if income < $79,000.

India IT Return (NRI)

File Indian taxes if you have income in India (rent, dividends, capital gains).

Insurance & Investment for NRIs

LIC NRI Plans

Life insurance in India. Premiums paid from NRE/NRO. Tax benefit under 80C in India.

NRI Mutual Funds (Vested)

Invest in US stocks from India or vice versa. SEC-registered, built for NRIs.

Kuvera — India MF for NRIs

Invest in Indian mutual funds from the US. Free, direct plans only.

NSE IFSC (GIFT City)

Trade Indian securities from abroad through the GIFT City IFSC — no Indian tax on gains.

RBI Sovereign Gold Bond

NRIs cannot buy new SGBs but can hold existing ones. Good inflation hedge.

Remittance — Smart Tips

· Send mid-week (Tuesday–Thursday) — liquidity is highest and spreads are tightest.

· Avoid sending on Indian bank holidays — your money sits in transit longer.

· Transfers above $10,000 get automatically reported to FinCEN (no action needed, just FYI).

· Gifts to parents in India are not taxable in India up to ₹50,000/year from any single person.

· Use Purpose Code 'P1301' (Family maintenance) when your Indian bank asks — this is the standard NRI remittance code.

· Keep all wire receipts for at least 5 years — useful for repatriation proof and IT scrutiny.

· RBI allows repatriation of up to $1 million per financial year from NRO accounts.

· INR tends to weaken in election years and strengthen post-RBI rate hikes — watch the macro.

Quick NRI Facts

· India is the world's #1 remittance recipient — $125B+ annually. NRIs in the US send the most.

· The mid-market USD/INR rate is the 'real' rate — providers take 0.1% to 3% on top.

· Wise typically has the lowest spread (0%–0.5%); banks are the worst (2%–4%).

· A ₹1 difference in rate on a $5,000 transfer = ₹5,000 difference. Always compare.

· H-1B holders: your Indian income (from rent, investments) is taxable in the US — report it.

· OCI card holders get most NRI benefits (banking, property) but can't vote or buy agricultural land in India.

· NRIs can now open NRE accounts fully online — no branch visit needed with most private banks.

Links open official or well-known third-party sites. NRIwise is not affiliated with any of the services listed. Always verify information directly with the official source.