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  • Account in India

    Hi,
    I was born in India and got U.S. Citizenship through Naturalization.
    Can I transfer money to my Indian bank account ( which was opened when I was a kid ) in India ? It is not an NRI account .
    If so, do I have to report the interest earned in that account while filing taxes ?

    Thanks !

  • #2
    You must open an NRE (Rupee External) account; close NRNR account and open or convert as NRO account. You can transfer money to Indian banks NRE or FCNR accounts/ deposits. No issues. However you can not operate local SB account anymore as per teh banking regulations. Yes, interest income needs to be reported while filing taxes.

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