r2i forum

Folks
I have relocated on a 2 yr assignment to India office of my company and transferred a good chunk of $$ to my NRE.
I am getting conflicting advice on whether I need to covert my NRE to resident account, even the bank says that I can keep it in NRE or NRE FD since I am on assignment and the intent being to go back to US, but I will be hitting RNOR status for my 2 yrs in India, I am concerned that I cannot repatriAte back easily if I moved to resident Ordinary deposits.

I am an US citizen and would like your guidance.

Thanks
Raj

Not sure what the law is..but my bank pretty much advised the same thing. I was on a 2 yr assignment in India and came back couple of weeks back. I am also a U.S citizen. The explanation was that since I have my payments/expenses in USD (Mortgage, maintenance fees etc), I need to keep the funds as NRE. (I bet that if you convert them to domestic accts and then convert back to USD, you will lose some money in the whole process)

nee1000;467142Folks
I have relocated on a 2 yr assignment to India office of my company and transferred a good chunk of $$ to my NRE.
I am getting conflicting advice on whether I need to covert my NRE to resident account, even the bank says that I can keep it in NRE or NRE FD since I am on assignment and the intent being to go back to US, but I will be hitting RNOR status for my 2 yrs in India, I am concerned that I cannot repatriAte back easily if I moved to resident Ordinary deposits.

I am an US citizen and would like your guidance.

Thanks
Raj