GLOSSARY · NRI: INDIANS IN THE US
NPS (National Pension System)
India's government-regulated retirement savings scheme, introduced by the Government of India in 2004 and supervised by the Pension Fund Regulatory and Development Authority, in which contributions are invested through pension funds and paid out as retirement income. For a US taxpayer it is a foreign pension arrangement. Form 8938 asks for interests in foreign pension plans, and practitioners differ on the FBAR.
Also called: national pension scheme
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CHAPTER · TAXES ON BOTH SIDES · STRATEGIESRetirement Accounts on Each SideRELATED TERMS
SOURCES
- About National Pension System (NPS). Pension Fund Regulatory and Development Authority.
- Instructions for Form 8938. Internal Revenue Service.