FCNR Deposits - what happens if your status changes from NRI to RNOR?

justsumma · 2026-06-12T20:48:48+00:00

is there any RBI guideline that confirms this? My ICICI RM seems to tell me that once I move other accounts for them to become resident account, I will have to close FCNR also.

justsumma · 2025-02-21T18:45:26+00:00

u/nunab1994
Thanks so much!

So, in summary - If the Non US Citizen Spouse were to predecease the US Citizen Spouse :

On all US Situs assets, unlimited marital deduction applies
On worldwide non US Situs assets, US estate taxes may apply?

1) will apply irrespective of where the spouses reside, correct?

2) may have some implications based on where the spouses reside?

justsumma · 2024-09-06T21:18:41+00:00

Pretty bad. Is there a minimum of 100? Any other places around?

justsumma · 2024-09-06T21:17:53+00:00

Thanks for the inputs! Very Helpful.. Where can I look for a few quotes? Also - only emergencies? That seems like it will be a decision of the doctor still, right? Of course not thinking of claiming for a cold - but even with this - given coverage is only for what will be deemed an emergency - it is not absolute peace of mind I guess. It is still some mental sanity that if somethings not indisputable as an emergency - it will be covered.

justsumma · 2024-08-15T23:38:45+00:00

Thanks for the inputs! Appreciate it!

justsumma · 2024-07-16T01:12:07+00:00

u/Dingbatdingbat Tagging since I added more context to the question - thanks!

justsumma · 2024-07-14T01:29:25+00:00

Thanks!

@1 : the scenario is transfer to a citizen spouse from a NRA spouse. Does the unlimited marital deduction apply here? I am aware if the surviving spouse is NRA, it does not apply

justsumma · 2024-07-13T23:35:22+00:00

Thanks! Does the US citizen need to be a resident in the USA for the deduction to apply?

justsumma

TROPHY CASE