US Accounts After Moving Back: Keep, Close or Convert

There is no universal keep, close or convert instruction for US accounts after an India move. Separate three decisions: what the institution permits, what cash you need, and what each country's tax and reporting rules require. A change of address, a sale, a retirement withdrawal and a transfer of cash are not interchangeable actions.

Start with an account inventory

Record each account's owner, provider, account type, accessible balance and supporting documents in your own records. Do not send account numbers or statements to RebaseNest. Ask each provider how to record your actual overseas address and tax status, and obtain its response before relying on continued services.

Bank accounts and brokerage

Ask about address eligibility, payment access, trading restrictions, identity checks and the tax documentation appropriate to your status. No bank or broker's current India-address policy has been reviewed for this guide. Do not use another person's address to imply a residence you do not have.

Keep acquisition, vesting and transaction records before closing or transferring a brokerage account. Use the RNOR calculator to assess the selected Indian year, not to decide the taxation of a particular sale. Capital-gains planning is a separate reading topic with its own verification limits.

Workplace plans and IRAs

Before moving a retirement balance, ask the administrator to distinguish leaving assets in the plan, a rollover and a distribution. Obtain the plan's current fees, access and document requirements. Review the intended transaction in both countries; this page does not calculate withholding, penalties or treaty relief.

Read the 401(k) account guide, Roth IRA guide and 401(k)-versus-Roth decision questions. These are existing articles, not newly certified advice. Their publication or update dates do not substitute for a recorded source review.

Check the continuing US filing position

The IRS guidance for US citizens and resident aliens abroad says that filing rules are generally the same inside and outside the United States, and that these taxpayers are subject to tax on worldwide income. Do not apply that statement to every former visa holder without establishing their US tax status. The long-stay US questions can help organise an adviser discussion, but this page does not determine an expatriation or dual-status outcome.

The IRS comparison of Form 8938 and FBAR explicitly says that Form 8938 does not replace FinCEN Form 114. Each has its own coverage and reporting threshold. Form 8938 accompanies the relevant income-tax return; FBAR is filed separately with FinCEN. Account location and the person's status matter: an account is not automatically foreign for US reporting merely because its owner now lives in India.

The FBAR and FATCA guide for Indian accounts is a further question list. Use the current official form instructions to resolve the actual account coverage, valuations, thresholds and filing requirements.

Keep the Indian review separate

Record your India trips, income and account facts for the selected year. The first-year Indian filing guide and US-accounts reading list provide next steps, but this overview does not verify a Schedule FA exemption, foreign tax credit claim or retirement-income treatment. The return checklist can hold the practical follow-up without storing your financial details on a server.

Source-review limits

The two IRS pages above were read on 11 September 2026 for the specific reporting distinctions stated here. This review did not establish individual provider policies, every person's US residence status, treaty treatment of a retirement transaction or the correctness of all linked articles. Obtain the current provider terms and applicable official instructions before making an irreversible change.