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  • Bank Account in India

    Hi,
    I was born in India and got naturalized recently.
    I am planning to open a CD account in India.
    Could anyone please mail me the answers ?

    1. Can I open a CD account in India from U.S. ?

    2. if so, do I have to have the PAN number ?

    3. If I open a CD account in India , do I have to report the interest to IRS when I file for taxes ? If so, what documents / forms do I have to provide IRS ?

    Details regarding the above would be greatly helpful for me to make a decision.
    Thanks in advance
    Regards
    Tmmet

  • #2
    1. Yes.
    2. No.
    3. Yes. Some banks like Citibank NRI send you 1099. For others, just look at the statements to see much money was earned as interest and add it to your income.
    Immihelp Support
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