How to Withdraw 401K plan money from India | USAவில் கண்டிப்பா 401K plan வைத்து இருக்கனும் Tax FREE

[@ArthiPrem]

For order Arthi's Costume in this video or similar dresses You can Whatsapp to this Number, we can ship to USA, India or anywhere in the World... [phone]

[@spyder1167]

Bro, what happens when an employer comes to know that we have added fake experience to grab a job in the USA? Do we get blacklisted globally? Will it cause any visa-related issues? Scenario: Got an offer letter and a person is about to join.

[@divyas5002]

Great video. after being in US for long , people are still not aware of 401k .. This is one such awesome way to educate viewers .. Guys, keep up the good work and great efforts !!

[@ArthiPrem]

Thank you so much sister Your words are motivating a lot

[@udayakumar26]

When switching employer, you don't have to transfer to IRA. You can transfer 401k to your new employer 401k if they offer one. Currently Robinhood offers 1% match for IRA.

[@RajagopalSankaranarayanan]

Why blood same blood .. started my 401K after 10 years. Lost opportunity particularly during Covid 19. Thanks for creating awareness in as many videos as possible on this crucial topic, Arthi and Prem

[@ArthiPrem]

Thank you so much raja bro 🙏🙏

[@girijaravi3610]

Good educational video. I would strongly recommend Roth 401k which is a contributing after tax. this is great when u withdraw money and no tax is taken. Educational video. Good luck. Must wat

[@ArthiPrem]

Thank you so much for your comments !!!

[@Arj0010]

But when we convert our 401k to Roth 401k we have to pay the tax which got as benefit while contributing in it. Converting to IRA will give us additional investment options than the fixed instruments that company provide

[@girijaravi3610]

@@Arj0010 yes u r correct. Traditional 401k grow tax free but when converting to Roth we have to pax tax

[@mc_uday]

Thanks bro... 🙏This is what i was expecting and needed this information.

[@ArthiPrem]

Thank you so much bro !!!

[@vigneswaranesakkimuthu1829]

One of my friend use this strategy “ he moved to India on 2017 but he withdraw his 401k money on 2018” so for 2018 he had a 0 income in USA other than 401K

[@ArthiPrem]

Is your friend green card holder or usa citizen?

[@KarthikeyanRamaswami]

Prem, 1. one strategy to follow is that, IT IS BEST to do the 401k conversion to Roth 401k , during the BEAR MARKET when the stock market is down by -10 or 20%.. Because, it lowers the taxes (and Tax Bracket) & tax due which we need to pay for conversion. And it is not advisable to do the 401k to Roth IRA conversion , when the stock market is at All time high because of the same Tax due will be high. 2. While it is true that Non-Resident US will have to pay 30% Tax upfront (Brokerage will deduct it at the source itself), the surplus Tax Due will be Refunded by IRS during the US TAX Filing. Example: If we fall in 10% tax bracket, the extra 20% will be refunded by IRS during the US Tax Filing Returns. Another alternative is to submit W-8BEN form to the brokerage firm to avoid taking 30% Tax at the source.

[@anands8511]

I was of the same thought. Thanks for the clarification! One check - is there any way we can withdraw the sum by breaking into small chunks every year to reduce tax implications?

[@ArthiPrem]

Hi anand bro Are you saying that taking small chunk amount while you are in the resident alien for the tax status

[@KalkiKarthik]

I believe this is called as Roth ladder conversation. Where you can withdraw 25k increments every 5 yr period from ROTH IRA. But the only question I have is on foreign income earned on India tax when you lose NRI status after 3 years.

[@ramnathkrishnamoorthy6336]

Please do a video on HSA withdrawal as well….Thks

[@ArthiPrem]

Sure !!!!

[@senthilkumark8078]

You no need to withdraw HSA. you can use the card to buy medicines ONLY anywhere in the word and I tried. It worked

[@fathimabibi708]

Very good information 👌 👍

[@ArthiPrem]

Thanks a lot

[@karthikeyansugumar20]

Consider a person goes to india for good and he/she converts the traditional 401k to traditional IRA. After 60yrs of his/her age if they withdraw the money do they need to pay 30% tax?

[@ArthiPrem]

Yes because we have contributed pre tax money In this case back door ROTH IRA will help and will cover in the future videos

[@buvanaanand5962]

Hi. Can you please make a video about US Traditional DB Plan/Cash Balance Plan like this video?

[@gullurr]

hi Prem , Great Video, Example : Friend its been 2 years he is back from US now in INDIA and his bank acct in US is expired , now how can we withdraw the amount , Kindly suggest

[@priyavettele]

I just started working in H4 visa, for past few months and noticed that my paycheck has Medicare, social security and OASDI tax withholdings. Can I ask my employee to exempt me out from those or is it something that I can't avoid from opting out. Is there anyway that the amount can be claimed back(for example, when we move out of USA or while tax filing every year?) How to get benefit from those? It will be very useful to know.

[@ArthiPrem]

Hi We have to pay social security tax and it’s mandatory And you will get the social security retirement benefits from that For more info please check kzbin.info/www/bejne/bKe0f2qVibCandUsi=trp2QTxnd7746vVm

[@1985sarasara]

Bro, 401k loan edukalama ?..atha pathi oru video podunga. India high interest la housing loan iruku.. thinking to get 401k loan and settle the housing loan in India and then i will repay the 401k loan. the benefit is that interest amount goes to our account. but not sure about the cons and catches.

[@ArthiPrem]

Its the good topic Will do it bro 👍👍

[@ndineshbabu86]

Arthi & Prem, When we withdraw 401k after 60years of age in India, do we still need to pay penalty + tax ? I think penalty might not be .. How about tax ?

[@ArthiPrem]

Yes there will not be a penalty But have to pay tax for the traditional 401k plan withdrawal

[@prabinprabhakar4687]

Hi bro , My understanding is that even if u go to india before 59 ....and become a resident indian status ...when u withdraw the money from 401 k , lets say at the age of 60, if u are paying taxes in USA...i dont think we have to pay taxes again in india right ? Due to double tax agreement ? Or since we have become resident indian , will we be double taxes as this considered as a foreign investment by indian tax policy ?

[@ArthiPrem]

We have clearly discussed on this point at 13:21

[@paarumahi]

Hi bro. Very useful video… but most of the financial advisors are suggesting to max out the 401k…any thought on this???

[@girijaravi3610]

Always try to contribute more than the match by the employer. If possible max out .

[@ArthiPrem]

It depends on the individual financial status It you can afford the max out amount in 401k you can

[@RVS_MAS]

1. I moved to india at the age of 48, plan to withdraw 401k 11 yrs later..during this 11 yrs shall we allowed to keep 401k account in US? Or move to a RATH account? 2. During this holding period 11 yr, will interest added to existing halted contribution?

[@vaishnavin3447]

Hi thanks for the information. If we convert it to IRA and then leave it here and settle in India, do we still have to pay 30% tax?

[@ArthiPrem]

Hi sister No need to pay tax if you are converting traditional 401k into traditional IRA

[@vaishnavin3447]

@@ArthiPrem Thank you for the quick reply. Is there any disadvantage to converting it to a traditional IRA, in case we are leaving the US?

[@karthikks25]

Bro for b2 visa for parents coming to USA will they need return ticket proof at port of entry ? Also pls let me know if they can get language translation assistance at immigration ?

[@ArthiPrem]

Hi karthik bro No need return ticket as a proof During immigration would be tough We can say dont know English and they will ask question in a single word or sometimes they wont ask

[@karthikks25]

Do you mean no need or without return ticket immigration will be hard to clear?

[@thejillykilly]

Can you please do a video on 'how to adopt a child from india' while working in US (no greencard yet). Please lets us know what you know about even if you do not know the whole procedure.

[@balajisubramani4964]

Thanks for this useful video. Can you plz clarify on Non resident alien part. My question is that if I need to take money after 5 years leaving the country , what will happen? Also, can I take partial amount every year?

[@ArthiPrem]

You have to pay 30% flat TAX rate on either case plus 10% penalty if your age is lesser than 59 1/2 years

[@balajisubramani4964]

Thank you

[@baranikrish3581]

Hi @ArthiPrem Good informative video. One of the best channel with lots of informative videos. I have a question if we have a 401k savings and am leaving for INDIA for good. Is it possible to wait till my retirement age and then withdraw the amount without any penalty and tax. Thanks.

[@ArthiPrem]

Hi bro Thank you so much 🙏🙏 Hope ur 401k is the traditional one means your contributing pre tax money Then we have to pay tax while withdrawing any time after 59.5 too If you are a usa non resident alien then tax depends on the income If you are a foreigner then its 30% flat rate

[@chidambaramsubramanian3114]

After 59.5 if I am non resident should i still pay 30 percentage tax?

[@ArthiPrem]

Yes 30% will be unavoidable for the non resident aliens Whereas 10% penalty will be avoidable if you are taking after 59.5 years

[@mukeshsantharam]

Good Employer matches 6% . Atleast mine .

[@ArthiPrem]

Wow.. they are very good employer bro Awesome 👍

[@minillk]

Indian based service companies hide the 401K benefits to their employees. TCS is one among them.

[@Arj0010]

Suppose if we have 30k in our 401k balance and if we withdraw 10k for 3 years.. do we end up paying 10% penalty and the remaining 9k will fall under tax threshold of 12.5k will be tax free

[@senthilkumark8078]

Hello Prem, Have a question. Why should we move 401k to IRA? we can leave it in 401K as it can grow depends upon market. Anyhow the providers adjust the investment strategy according to our age.

[@ArthiPrem]

IRA is having more investment options than 401k Also the penalty exemption criteria is more in IRA then 401k

[@senthilkumark8078]

@@ArthiPrem Thanks Prem. That leads to another question. So If I move to IRA , would we avoid 30% tax if we loose NRI status?

[@mmuruganmoorthy1222]

Bro, I’m h1b holder and going back India due to my project closed, here my question is do we to close 401k account? Or we can kept open until we reach 60 years(without contribution)?

[@ArthiPrem]

It depends on you If you will coming back to usa then you can keep the money or if you invest in any funds and it’s on loss due to the economic situation then you can keep the money Its very subjective Always keep 401k investments for retirement is the best option Take only if it’s really emergency and heavily depends on that money

[@mmuruganmoorthy1222]

@@ArthiPrem Thank you so much for your quick response. So there is no issues even we’re not contributing every month.

[@ArthiPrem]

No issues at all bro 🙌🙌

[@shanki8]

There is a proposal by Senator Krishnamoorthi to Biden Administration for high skilled immigrants. Your views on that scenario pls. Thanks

[@tamilbangalore8496]

No information on H1B 2nd lottery?!? ☹️ I was eagerly checking ur channel for past 2 days.

[@ArthiPrem]

Sorry :( We were out of town.. we will update tomo

[@tamilbangalore8496]

@@ArthiPrem Thanks 🙏🏻

[@Ashokkumar-ws5ep]

Hi thanks for the info, I have specific Q. Say after few years I move back to India but I leave the 401k untouched and at Mt age of 60, when I become eligible to withdraw (I'm still I'm India and never returned back since I left), and I withdraw the plan at 60, do I still need to pay 30% tax on my withdrawal

[@ArthiPrem]

Yes bro, you have to pay the tax 30% but there is no withdrawal fee

[@Ashokkumar-ws5ep]

@ArthiPrem thank you bro for the info, so it's better to plan withdrawal based substantial presence days and withdraw when planning to go back to India for good. Good info

[@ArthiPrem]

Thanks bro

[@chitrakumar4275]

Is it good idea to atake loan on 401k and pay for down payment?

[@vinuchandra2570]

Regards to both of you.. I want one clarification.. just I m applying for US tourist visa. Whether I can prefer Tamil language for interview ? I am a post graduate person and retired from job. Any contravercial with my qualifications and selecting interview language ? Whether it affect VISA approval ?

[@ArthiPrem]

Its not at all an issue All the best for your VISA interview 👍👍

[@vinuchandra2570]

@@charleyputh Thank you for the detailed reply. Now I am clear to choose Tamil language which is more convenient for me. Thank you.. god bless you 🙌

[@vinuchandra2570]

Thank you so much 👍🙏

[@suriyar8135]

This process is automatic in American companies..

[@ArthiPrem]

Thanks !!!

[@Baskarasmile]

Is useful 401k for L1B Visa holder

[@ganesanrajagopal7418]

Please do a video about IRA

[@raviaravisankar]

Hi Prem, My employer did not talk about 401k and is not ready to contribute. In that case what shall I do? As you said I spent 10 years in usa with out 401k. :(

[@ArthiPrem]

OMG .. if employer is not contribute then it’s real unfortunate If they are not providing you can open IRA and contribute for your retirement

[@raviaravisankar]

@@ArthiPrem Thanks Prem. I will do. am working as a consultant

[@RajagopalSankaranarayanan]

@@raviaravisankarbro IRA account is very similar to 401k except employer match. I am like you and started Roth IRA recently and started buying index funds in that account. It will grow very similar to our 401k account

[@raviaravisankar]

@@RajagopalSankaranarayanan thanks very much Rajagopal.

[@raviaravisankar]

@@RajagopalSankaranarayanan In that case what is different between buying index funds directly (like through Robinhood) and buying through IRA?

[@AArun-ch7mn]

Hi bro

[@krishnamoorthynarayanaiyya4012]

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