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siddharth jain   04 August 2021

Rules for getting funds from US brokerage account to India after the death of account holder

Hello,

Today I have a question regarding ESOP and RSU provided by a US based company to Indian citizen.
US Brokers do not allow foreign individuals to add Nominee/Beneficiary in the brokerage account. This is a single holding individual account. What are the rules for getting money back to India in case the account holder dies and amount in brokerage account is more than $60,000? Can we get away from paying taxes in US while getting money out of the brokerage account to Indian bank account?

Few scribbles:
https://www.irs.gov/individuals/international-taxpayers/some-nonresidents-with-us-assets-must-file-estate-tax-returns#:~:text=An%20executor%20for%20a%20nonresident,U.S.%2Dsituated%20assets%20exceeds%20%2460%2C000.
As per above link, we have to fill 706-NA
And as per the sub-link we have to pay taxes on the amount at the rate of 40%



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