Moving back to India. Can I continue trading with Fidelity and 401k?

Nov 27, 2017 7 Comments

I have decided to move back to India to be close with family. I have been in US for 4 years have significant ratio of my wealth in Fidelity as stocks, bonds and 401k. After I move to India can I continue using fidelity? Do i need to call fidelity and make them aware of this? Also can i keep my US bank accounts active?

Thanks for your time.

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TOP 7 Comments
  • VMware
    XIqP48

    Go to company page VMware

    XIqP48
    You are taking a big decision. Why don’t you get some advise from a CPA as well as an Indian equivalent of CPA. International taxation is complex. Check if India also taxes its resident on the global income.
    Nov 27, 2017 0
  • You can keep the bank accounts open, of course.
    Nov 27, 2017 0
  • Expedia
    thankful

    Go to company page Expedia

    thankful
    Rollover to individial IRA. There is no taxation and shield you from unpleasant situation in case employer goes under or decides to move to someone other than fidelity.
    Nov 27, 2017 0
  • Apple
    iLife

    Go to company page Apple

    PRE
    AMD
    iLife
    You can continue to do that but unless you are a US citizen, you would be considered as a non-resident alien by IRS. You need to pass the substantial presence test to be considered a resident alien for taxes. And I think it is a flat 30% tax rate for non-residents.
    Nov 27, 2017 0
  • VMware
    trollbully

    Go to company page VMware

    trollbully
    You can continue to access and modify your 401k investments as before, but you should roll those over to a fidelity rollover IRA.

    The capital gains and income on the taxable investments will be reported to the IRS and so you will have to address that during tax filing season.
    Nov 27, 2017 0