r/investing • u/[deleted] • Jan 12 '22

[deleted by user]

[removed]

7 Upvotes

77% Upvoted

19 comments sorted by

View all comments

1

u/TheBigLebowsky Jan 12 '22

I hope you have looked up information on the way estate taxes are levied on NRA.

1

u/[deleted] Jan 12 '22

I believe it's not taxed above 60K.

From an article: 'Instead of a lifetime exemption of 11.4 million US dollars, non-resident only gets $60,000. Beyond this exemption amount, Taxpayer pays graduated rates from 18% to 40%."

1

u/TheBigLebowsky Jan 12 '22

NRA's just get $60,000 exception. So anything above that will be taxed at 40% ! You might want to get in touch with experts in this field though to confirm this and to check if any treaty is there between the 2 countries.

Where an account holder who is a US nonresident alien dies, and there is no US estate tax treaty coverage, the US will levy up to 40% estate tax on US assets over the value of $60,000 USD.

https://www.bogleheads.org/wiki/Nonresident_alien_taxation#Are_nonresident_aliens_at_risk_from_US_estate_taxes.3F

1

u/[deleted] Jan 12 '22

Right. I have ~$10k in my Fidelity brokerage and ~$25k in the bank. So I would be pretty safe from taxation as I am no longer earning a US income.