Financial steps to be taken after acquiring GC/US citizenship?

rhonapap

New Member
My husband and I have completed the required 5 yrs with GCard and will soon apply for US citizenship, followed by OCI. We did not know that we can no longer hold an Ordinary Savings acct/FD. We will correct that soon.

Please let me know how to deal with the following issues:

a) Government pension now deposited in PNB India branch under regular pension account. How to get the money collected/transferred to the US?
b) Small EPF pension collected in SBI Indian branch. How to get money transferred to US?
c) FDs in ordinary accounts due to mature in 2017/18. What should be done with it?
d) Two flats that will be sold in the next 5 yrs, both owned over 5 years. How can the LTCG money be repatriated to the US?

e) Would it ease the process of transferring the money if we open a (NRE/FCNR) bank account in PNB/SBI in the US and instruct the Indian branch to transfer the money to the US branch?

f) If the money is all pension or FD interest, is the correct account to be opened in India/US an NRE or FCNR account?

Appreciating your help.
 
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