PPF (Public Provident Fund)

A long-term savings scheme run by the Government of India under the Public Provident Fund Scheme, 2019, with a fifteen-year term and an interest rate that applies to the scheme from time to time. The scheme's forms have the holder declare being a resident citizen of India and undertake to tell the account office of a change in residency status. For a US taxpayer, the FBAR and Form 8938 instructions do not name it, and whether it goes on the FBAR is a point on which practitioners differ.