[seige]

Can you expand on how you help in the documentation? Mere guidance is not enough as the real advice afaik in the case of 8621 is to "hire a tax accountant". The trouble is that most tax accountants are not well versed in this as well so one's search is even harder.

Your point on India's growth rate likely to be higher than US is well received, but I want to understand something more tangible. Let's say I invest a dollar in India which grows at 7-8% risk free just using the FD instrument. At the end of each year though, US Gov will tax that growth at 30-40%. Next, If one repatriates that money, one loses even more value due to currency conversion. So in effect, your money grows at 4% most likely.

4% growth + tax paperwork hell seems imprudent. I'd like to learn what am I missing here? Many of my NRI friends don't bother investing in India. There is a serious lack of education in this regard.

[nish93]

8621 is hard because the calculations are complex and there are a lot of edge cases, however, once you codify those, it's just a formula. Hence, we use this formula to generate a filled 8621 (based on your inputs on your tax bracket + our calculations) document that you can attach with your 1099.

We have worked with CPAs exclusively focused on US-India taxes to develop expertise on this. This video from our last webinar may help - https://www.youtube.com/watch?v=InNW3OZY-Ig

Tbh, if you're just looking for FD, 8621 doesn't even apply. But assuming you want to capture india's growth, you would want to invest in index funds giving 12-13% return, for which 8621 will be applicable. An offline process for filing 8621 is truly a nightmare, hence we are making it online and simpler.