Nice trick to get full 401k amount

[Aamphat]

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu

[ARYA]

7 minutes ago, Aamphat said:

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu

 

[Spartan]

1 minute ago, ARYA said:

 

[reddzak09]

thanks for the thread, ee information kosam nenu kooda choosthunna....

[DallasKarreBaluGandu]

full details chepu anna clear gaa

[Aamphat]

8 minutes ago, ARYA said:

 

enti bro?? ante vellevallu lerantava?

[Aamphat]

Just now, DallasKarreBaluGandu said:

full details chepu anna clear gaa

inkem details kavali bro?? 401k lo unna full money ela ravalo cheppa. em ardam kaledhu?

[krishnaaa]

3 hours ago, Aamphat said:

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu

No need. 

You can take out legally by using RNOR status and being below taxable limit for capital gains.

You can happily go back to US if needed.

[HugoStrange]

15 minutes ago, krishnaaa said:

No need. 

You can take out legally by using RNOR status and being below taxable limit for capital gains.

You can happily go back to US if needed.

RNOR ante enti bro. 

[Anta Assamey]

[pakeer_saab]

4 hours ago, Aamphat said:

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu

Tax filing to taxes kattali anniya

Tax file cheyakunda 10geyali ani aa nee idea, US India has a DTAA. US can approach Indian authorities for tax evasion.

you have to pay taxes in either India

401K is for retirement ra ulfa gallara, fingering this money at this stage will make you a beggar during retirement.

 

[psycopk]

43 minutes ago, HugoStrange said:

RNOR ante enti bro. 

Hello, this is Bing. I can help you with your query about RNOR status. 😊

RNOR stands for Resident but Not Ordinarily Resident. It is a transitional residential status given to returning NRIs before they become a resident of India. RNORs are treated on par with NRIs for Indian income tax purposes¹.

To qualify as an RNOR, you must satisfy one of the following conditions:

• You have been a non-resident in India for nine out of the ten previous years preceding that year, or
• You have been in India for 729 days or less during the seven years preceding that year.

The benefits of being an RNOR are:

• You are not taxed on your foreign income unless it is derived from a business controlled in or a profession set up in India.
• You are not taxed on interest earned on FCNR or RFC accounts.
• You can enjoy the tax benefits applicable to NRIs until you become a resident of India.

If you want to know more about RNOR status and its implications, you can check out these web pages:

• NRI Status and NRI Taxation - ClearTax
• Resident Status – Resident & Resident but Not Ordinary Resident
• Understanding RNOR Status & It’s Benefits - TheWealthWisher (TW2)
• RNOR Tax Status – A boon for returning NRIs – myMoneySage Blog

I hope this helps. Do you have any other questions? 🙌

 

[AFC]

5 hours ago, Aamphat said:

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu

Thanks for information, just now booked tickets to India but no money on 401K anna what to do now ? 

[Konebhar6]

7 hours ago, Aamphat said:

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu

They can wait for a year and withdraw around $30k (not sure on exact amount) and pay no taxes. Inta risk enduku unless money needed urgent. Rest can be withdrawn a year after that.

[RPG_Reloaded]

7 hours ago, Aamphat said:

lets say you have 40k in your 401k account and you are planning to move back to India nad never comeback. you can rollover to IRA account and take a distribution and select the option to not withhold taxes/penalty nad you can get full amount.

P.S; only for people who are not pedda kamalhassan in Bharateeyudu