I’m currently in USA on H1B status (valid I-797 and I-94, visa expired). My wife is with me on H4 status.
With all the new uncertainty around H1B and H4, I’ve been thinking of how/when to relocate back to India. I’ve been in USA for 8 years now, and have saved a good amount of money in USD, which I’d like to transfer to India before I leave. This money is all after taxes and from my salary/bonus/stock options. Since I’ve been away for so long, I don’t have a savings account in India, but have a joint account with my father, to which I plan to transfer my savings. I had some questions about that, and hoping someone can share their insights
Should I open a NRE account while I’m here and move the money to it? Will I be able to access this from India?
Should I wire transfer my savings to the joint account with my father? Is there any paperwork associated with this?
Should I take out an international draft for the amount and mail it to India?
Please share your thoughts or experiences in this matter.