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gokullu
Apr 8, 2014, 01:14 PM
Hi,
I am a Non-Resident Alien. I already filed 1040-NR for the year 2013.
I have
Life insurance policy (LIC-India) for about $30K (not matured)
Interest from Bank - approximately $100

Do I need to file FBAR and declare these assets ?
Also do I need to mention them in 1040-NR (page-4) if so, since I already submitted it can I amend it using 1040-X ? What am I supposed to fill in 1040-NR page-4 and is it going to affect my tax or is it just a declaration.
Kindly let me know.


Thanks

AtlantaTaxExpert
Apr 8, 2014, 11:34 PM
The FBAR requirement does NOT apply to non-resident aliens.

gokullu
Apr 9, 2014, 05:42 AM
The FBAR requirement does NOT apply to non-resident aliens.

Thanks for the info.
Also do I need to mention them in 1040-NR (page-4) if so, since I already submitted it can I amend it using 1040-X ? What am I supposed to fill in 1040-NR page-4 and is it going to affect my tax or is it just a declaration.
Kindly let me know.

AtlantaTaxExpert
Apr 9, 2014, 11:13 AM
Neither the life insurance policy nor the interest in foreign banks is taxable, so mention them NOWHERE on the Form 1040NR.

gokullu
Apr 9, 2014, 11:32 AM
Neither the life insurance policy nor the interest in foreign banks is taxable, so mention them NOWHERE on the Form 1040NR.
Thanks a lot. I appreciate your help :)

AtlantaTaxExpert
Apr 9, 2014, 03:45 PM
Glad to help!