79. Demats, PFICs and Provident Funds: What Indians Moving to America Need to Know
From Expat Wealth - Cross-Border Financial Advice for Expats in America and Americans Abroad by Richard Taylor
March 26, 2026 · 44 min · Episode 79
About this episode
This episode discusses the financial complexities Indians face when moving to America, focusing on compliance and tax implications of various Indian financial assets.
Moving to the US is an exciting step, but for Indians making that move, the financial complexity can be significant. From Demat accounts and Provident Funds to ULIPs, the assets that made perfect sense back home can quickly become compliance headaches, tax traps, and costly surprises in America. The good news is that with the right guidance – ideally before you arrive – most of these problems are entirely avoidable. In this episode of Expat Wealth, Richard Taylor – dual UK/US citizen and Chartered Financial Planner – is joined by Manasa Nadig, Enrolled Agent and owner of MN Tax and Business Services, and co-host of the International Money Cafe podcast. Together, they walk through the most common Indian financial assets held by expats in America, what US reporting rules apply to each, and why pre-immigration planning can make the difference between a smooth transition and years of non-compliance. Richard and Manasa discuss: The four main Indian asset categories that matter for US tax purposes: Bank accounts, Demat accounts, Provident Funds, and insurance policies each carry different reporting requirements under FATCA and FBAR. Manasa breaks down what each one is, how it maps to…
People in this episode
Host: Richard Taylor
Guest: Manasa Nadig
Topics covered
- Indian financial assets
- US tax compliance
- pre-immigration planning
- Demat accounts
- Provident Funds
- Passive Foreign Investment Companies
Keywords
- Demat accounts
- PFIC
- Provident Funds
- FATCA
- FBAR
- ULIPs
- tax traps
- pre-immigration planning
Mentioned in this episode
Organizations: MN Tax and Business Services, International Money Cafe
Places: India, America, US
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