nozerd
02-25 03:55 PM
I am reasonably knowledgable about benefit plans like 401(k) but just wanted a second opinion in the situation I decide to move perm to India.
1) Assume I have $ 100,000 in a 401K plan.
2) I terminate and roll over the funds to an IRA.
3) If I were to withdraw the funds ASAP I would face tax at a high rate as well as the 10% withdrawl penalty as I would be under 59 yrs 6 months.
4) To minimize my taxation I withdrawl a little bit every yr under the tax bracket. Say I withdraw 10K a yr for 10 yrs. Since I have no other US income I am under the tax bracket for US and dont have to pay any taxes. I do still have to pay the 10% penalty since im under 59 1/2.
5) By doing this I eventually mange to get 90K out of the 100k I start (assuming i dont take into account market earnings)
So is this doable and good logic ? Am I right or off somewhere. Would I face any taxation in India if I bring in this money on the principal ?
Also does anyone know what kind of interest rate a risk free treasury bond or instrument would pay in India ? If I bring to India an investment of aprox Rs 50 lakhs what kind of monthly income can I earn on the money assuming a secure conservative investment.
Thanks
1) Assume I have $ 100,000 in a 401K plan.
2) I terminate and roll over the funds to an IRA.
3) If I were to withdraw the funds ASAP I would face tax at a high rate as well as the 10% withdrawl penalty as I would be under 59 yrs 6 months.
4) To minimize my taxation I withdrawl a little bit every yr under the tax bracket. Say I withdraw 10K a yr for 10 yrs. Since I have no other US income I am under the tax bracket for US and dont have to pay any taxes. I do still have to pay the 10% penalty since im under 59 1/2.
5) By doing this I eventually mange to get 90K out of the 100k I start (assuming i dont take into account market earnings)
So is this doable and good logic ? Am I right or off somewhere. Would I face any taxation in India if I bring in this money on the principal ?
Also does anyone know what kind of interest rate a risk free treasury bond or instrument would pay in India ? If I bring to India an investment of aprox Rs 50 lakhs what kind of monthly income can I earn on the money assuming a secure conservative investment.
Thanks
ghost
07-24 04:20 PM
What can we ask for-
1) Portability for all cases where I - 140 is approved for 180 days, and the co. is unable to file for 485 because of retrogression.
2) ability to maintain priority dates incase labor is filed for more than 365 days and the employee is forced to change jobs - even though the i 140 is not approved because of delays at the BPCs
3) I guess asking for an EAD incase I-140 is approved for 180 days will be too much?
LC - Verification is related to the sponsored job
140 - Verification is related to the sponsoring company
485 - Verification is related to the sponsored individual
Portability, by definition, applies to individual and not company. Why would your company want you to have portability?
1) Portability for all cases where I - 140 is approved for 180 days, and the co. is unable to file for 485 because of retrogression.
2) ability to maintain priority dates incase labor is filed for more than 365 days and the employee is forced to change jobs - even though the i 140 is not approved because of delays at the BPCs
3) I guess asking for an EAD incase I-140 is approved for 180 days will be too much?
LC - Verification is related to the sponsored job
140 - Verification is related to the sponsoring company
485 - Verification is related to the sponsored individual
Portability, by definition, applies to individual and not company. Why would your company want you to have portability?
gc_chahiye
08-26 12:55 PM
Hi everyone:
I'd appreciate if someone could give me an advice here. I am currently on the 6th year of H1B. It is expiring on Jan 31, 2008. Technically I will need a 7th year extension. My Labor Certification for Green Card (EB2, PD: Dec, 2002) was approved back in July, 07 and I filed I-140 and I-485 concurrently in the end of July. So far I have not received a receipt or anything back from them.
What shall I do in this situation -- can I apply for H1B extension now? Any advice will be appreciated.
you can get a one year H1 extension based on your LC being more than an year old. Just include the copy of your approved LC in the H1B extension request.
If your I-140 is denied, the current USCIS position is that your H1 extension would remain valid for the period it was granted for, giving to time to file another LC. The 485 is automatically gone at the point where your I-140 is denied.
I'd appreciate if someone could give me an advice here. I am currently on the 6th year of H1B. It is expiring on Jan 31, 2008. Technically I will need a 7th year extension. My Labor Certification for Green Card (EB2, PD: Dec, 2002) was approved back in July, 07 and I filed I-140 and I-485 concurrently in the end of July. So far I have not received a receipt or anything back from them.
What shall I do in this situation -- can I apply for H1B extension now? Any advice will be appreciated.
you can get a one year H1 extension based on your LC being more than an year old. Just include the copy of your approved LC in the H1B extension request.
If your I-140 is denied, the current USCIS position is that your H1 extension would remain valid for the period it was granted for, giving to time to file another LC. The 485 is automatically gone at the point where your I-140 is denied.
sprash
03-02 05:09 PM
ok, here is the story:
http://marketplace.publicradio.org/display/web/2009/03/02/foreign_tech/
http://marketplace.publicradio.org/display/web/2009/03/02/foreign_tech/
more...
shawnsteinbarth
February 14th, 2005, 05:41 PM
I have decided to go for the SB-600 rather than the 800 because I don't think I need the extra functions at this point. It will save on $$$ and weight too.
Thanks,
Shawn
Thanks,
Shawn
WaitingForMyGC
01-11 02:38 PM
What would happen if the labor is approved and I-140 is pending and you have to apply for your 7th/8th year extension? I think this could happen to many people who are getting yearly extensions as nowadays it is usually taking 6 months to get your H1 approval/I-140 approval.
more...
muthukmk
08-03 04:14 PM
Hi All,
I have my labor filed and approved for EB3 March 2005 PD. My I140 too has been approved in June 2007. I filed for 485 on July 2nd. I would like to know whether I can now start a fresh EB2 and also apply for I140 and use the older Eb3 priority date of March 2005. I have not changed my company I need guidance for experts in this regard.
Just for information, my I140 was approved after I had applied for 485
Regards,
I have my labor filed and approved for EB3 March 2005 PD. My I140 too has been approved in June 2007. I filed for 485 on July 2nd. I would like to know whether I can now start a fresh EB2 and also apply for I140 and use the older Eb3 priority date of March 2005. I have not changed my company I need guidance for experts in this regard.
Just for information, my I140 was approved after I had applied for 485
Regards,
ss1026
07-29 11:31 AM
I am an EB-3 I with a 2005 PD on my 10th year on H-1B. I have a standing offer from a different company who are willing for file for a new GC in EB-2. I requested their HR to file my GC before I join their firm as I want to stay on my current project till the end of the year and they are ok with it but want to see some website/links stating that it is allowed and legal. I personally know that is allowed but had not much luck finding a good website noting this.
Could anyone paste a link or point to a good website that has this clearly stated. Thanks
Could anyone paste a link or point to a good website that has this clearly stated. Thanks
more...
gcpadmavyuh
10-07 11:08 PM
Hi Parimmigv:
Applying for 485 does not affect your H1/H4 status, as these visas are dual intent.
If your H1 is approved, your H4 status will cease to exist from the date of H1 validity (I'm guessing, Oct 1st for you). So, officially from that date, you are on H1.
If you have applied for 485 recently, you are also eligible for EAD which authorizes you to take up "ANY" job of your choice in the US.
485 iteslf is a separate status called the adjustee or parolee status.
Now to your questions:
1. what status am I on right now ?
Since your H1 is approved, effective Oct 1st you are on H1 status. Since you applied for 485 recently you are also on the parolee status. Typically to come out clean of the H1 status, one uses their EAD to work. Then the H1 status is invalidated. To do this, just fill out a new I9 form with your employer showing EAD as the basis of authorization to work.
2. Is it true that only after getting H1 visa stamp I will be moving to H1 visa ?.
No,this is not true. You need not have your H1 stamped to be on H1 status. Your H1 picks up on Oct1st if your 797 went through.
3. How to move to EAD as I don't want to pay payroll fees ?.
Need to fill out a new I9 form with your employer indicating your EAD as the form of authorization to work.
BTW, I gathered that you have'nt received your EAD yet and you may not be in a position to produce it as proof of auth for work for a new I-9. I personally think you dont need to worry about not getting paid from Oct 1st through the day of your EAD approval, as you can claim to be on 485 parolee status during this period and not H1. Please check with a qualified
attorney. I'm 99.99% sure of this.
good luck!
Hello:
Can some please help me here ?.
Iam on H4 and I applied for H1 through a consulting company and got it approved last month. I haven't got my I797 form yet.
I have applied for EAD through my husband's company. I think EAD may take few more months to get approved. My questions are:-
1. what status am I on right now ?
2. Is it true that only after getting H1 visa stamp I will be moving to H1 visa ?.
3. How to move to EAD as I don't want to pay payroll fees ?.
Thanks,
Applying for 485 does not affect your H1/H4 status, as these visas are dual intent.
If your H1 is approved, your H4 status will cease to exist from the date of H1 validity (I'm guessing, Oct 1st for you). So, officially from that date, you are on H1.
If you have applied for 485 recently, you are also eligible for EAD which authorizes you to take up "ANY" job of your choice in the US.
485 iteslf is a separate status called the adjustee or parolee status.
Now to your questions:
1. what status am I on right now ?
Since your H1 is approved, effective Oct 1st you are on H1 status. Since you applied for 485 recently you are also on the parolee status. Typically to come out clean of the H1 status, one uses their EAD to work. Then the H1 status is invalidated. To do this, just fill out a new I9 form with your employer showing EAD as the basis of authorization to work.
2. Is it true that only after getting H1 visa stamp I will be moving to H1 visa ?.
No,this is not true. You need not have your H1 stamped to be on H1 status. Your H1 picks up on Oct1st if your 797 went through.
3. How to move to EAD as I don't want to pay payroll fees ?.
Need to fill out a new I9 form with your employer indicating your EAD as the form of authorization to work.
BTW, I gathered that you have'nt received your EAD yet and you may not be in a position to produce it as proof of auth for work for a new I-9. I personally think you dont need to worry about not getting paid from Oct 1st through the day of your EAD approval, as you can claim to be on 485 parolee status during this period and not H1. Please check with a qualified
attorney. I'm 99.99% sure of this.
good luck!
Hello:
Can some please help me here ?.
Iam on H4 and I applied for H1 through a consulting company and got it approved last month. I haven't got my I797 form yet.
I have applied for EAD through my husband's company. I think EAD may take few more months to get approved. My questions are:-
1. what status am I on right now ?
2. Is it true that only after getting H1 visa stamp I will be moving to H1 visa ?.
3. How to move to EAD as I don't want to pay payroll fees ?.
Thanks,
ram_nara303
01-15 10:50 AM
I don't think it is not a issue as my friend's father also a retired Navy personel with the INdian Navy had no issues. All he had to so is show that he is a retired personnel and may have to show proof that he is just coming to visit and not to stay back.
more...
gcdesirer
02-04 10:39 PM
Thx gapala, wandmaker and lostingcprocess... Appreciate your prompt response.
No compensation only because it is for a close family friend.
No compensation only because it is for a close family friend.
pkjena
10-17 07:44 PM
I am one of the July 2 filers. I need to go to India on 1st November. I was hoping that AP will come by that time. But there has been no progress on that. Just spoke to my Attorney. She said that USCIS does not have any facility to issue AP for an emergency.
Then I called USCIS. I was told the same thing. The Customer Service representative said - I should go wherever I need to go. On arrival contact the local US Embassy and tell them that you need AP to travel back. They will "guide you".
On this forum I have read about INFOPASS many times. I was hoping to use that facility if I did not get AP in time. I am trying to find out if anybody actually used INFOPASS to meet a local Immigration Officer and got AP on an emergency basis.
No theoretical guesses please.
Thanks
Then I called USCIS. I was told the same thing. The Customer Service representative said - I should go wherever I need to go. On arrival contact the local US Embassy and tell them that you need AP to travel back. They will "guide you".
On this forum I have read about INFOPASS many times. I was hoping to use that facility if I did not get AP in time. I am trying to find out if anybody actually used INFOPASS to meet a local Immigration Officer and got AP on an emergency basis.
No theoretical guesses please.
Thanks
more...
amitjoey
05-02 07:25 PM
Guys, this is the time to show the core group that we are a bunch of people thankful that there is IV to help us fight this fight.
We need to stand united and raise awareness and sign up for the $20minimum a month recurring contribution.
I understand that some of you do intend to contribute and have contributed generously in the past,
But here are some mindsets, All of us fall in these 4 mindsets.
1) you probably think "why should I sign up for a monthly recurring contribution program". I am a generous contributor and I contribute almost monthly anyways.
2) I have contributed enough.
3) I will contribute if I feel like, when I see something comming out of this effort.
4) I do not have to contribute.
If you are in category 1).I can tell you, I understand because I have been a generous contributer in the past. But guys, the reason I signed up for a monthly recurring contribution is that it helps IV know that 'X' amount of funds are guaranted every month, this way they can better plan.
Category 2) Contributed enough - Okay why dont just sign up for a minimum amount of $20/month once more. What is enough is not enough.
Category 3) This has been discussed, I do not want to talk about this category of members.
Category 4) Again - No Comments-
Lets show the core team that all of us fall in the first 2 categories.
The last thing we want the core to do is bite their fingers over funds. We do not want the core to get stressed out over funds. They have enough real work to do already.
Inspite of being a serious team player, and a generous contributor it took me some time (few days) to sign up for the recurring monthly contribution program back in Jan. so I give all of the ones that have not set up a monthly recurring contribution benefit of doubt. But this is our last chance, I urge you to be one of the 1000 people we need for this effort.
We need to stand united and raise awareness and sign up for the $20minimum a month recurring contribution.
I understand that some of you do intend to contribute and have contributed generously in the past,
But here are some mindsets, All of us fall in these 4 mindsets.
1) you probably think "why should I sign up for a monthly recurring contribution program". I am a generous contributor and I contribute almost monthly anyways.
2) I have contributed enough.
3) I will contribute if I feel like, when I see something comming out of this effort.
4) I do not have to contribute.
If you are in category 1).I can tell you, I understand because I have been a generous contributer in the past. But guys, the reason I signed up for a monthly recurring contribution is that it helps IV know that 'X' amount of funds are guaranted every month, this way they can better plan.
Category 2) Contributed enough - Okay why dont just sign up for a minimum amount of $20/month once more. What is enough is not enough.
Category 3) This has been discussed, I do not want to talk about this category of members.
Category 4) Again - No Comments-
Lets show the core team that all of us fall in the first 2 categories.
The last thing we want the core to do is bite their fingers over funds. We do not want the core to get stressed out over funds. They have enough real work to do already.
Inspite of being a serious team player, and a generous contributor it took me some time (few days) to sign up for the recurring monthly contribution program back in Jan. so I give all of the ones that have not set up a monthly recurring contribution benefit of doubt. But this is our last chance, I urge you to be one of the 1000 people we need for this effort.
solaris27
03-12 08:51 PM
its a good idea
more...
walker15
04-06 06:38 PM
Hi tabletpc,
Sorry to hear that your father is admitted in hospital. Hope everything will be fine.
As a returning H1B employee you are eligible for emergency appt. Eventhough you don't see vacant spots, you should keep logging frequently to grab cancellations(vacant) appts.
FYI: I just browsed and saw many appts available for the month of April for WORKING IN THE USA OPTION.
Good luck
Sorry to hear that your father is admitted in hospital. Hope everything will be fine.
As a returning H1B employee you are eligible for emergency appt. Eventhough you don't see vacant spots, you should keep logging frequently to grab cancellations(vacant) appts.
FYI: I just browsed and saw many appts available for the month of April for WORKING IN THE USA OPTION.
Good luck
Aah_GC
05-05 04:59 PM
Wow that's a relief. I know you might have already done so just confirm the date until when the I-94 is issued and make a copy just in case.
Good suggestion :). Will definitely act on that ASAP!
Good suggestion :). Will definitely act on that ASAP!
more...
ruchigup
08-22 03:08 PM
I changed address on pending I-485 and I-765(EAD) on 8/20 and 8/20 evening I received Card production order email for EAD. When I called the 800 number to make sure they have the correct address they said they don't have access to personal information. Upon asking to connect to second level CSR/IO they said they can't forward my call there. They asked me to take InfoPass for this.
gcdreamer05
11-18 03:48 PM
Hi All
I have a question regarding visitors visa, my parents got multiple Entry 10 years visa in 2007, but have not visited me so far, but this december my Mom is visitng me and in Feb my father( as to avoid harsh winter weather in East Coast), they will leave back in May 2009.
My Question is will there be any issue as their visa was issued in 2007 but they are visiting now
Do I need to send any new documents( I have moved onto EAD )
Looking forward to hear suggestions.
Absolutely no issues in visit date and visa received date, my parents came here in 2006 but got their visas in 2003, no questions were asked about delay. But at POE they did ask for return tickets photocopy or print out.
I have a question regarding visitors visa, my parents got multiple Entry 10 years visa in 2007, but have not visited me so far, but this december my Mom is visitng me and in Feb my father( as to avoid harsh winter weather in East Coast), they will leave back in May 2009.
My Question is will there be any issue as their visa was issued in 2007 but they are visiting now
Do I need to send any new documents( I have moved onto EAD )
Looking forward to hear suggestions.
Absolutely no issues in visit date and visa received date, my parents came here in 2006 but got their visas in 2003, no questions were asked about delay. But at POE they did ask for return tickets photocopy or print out.
sac-r-ten
01-11 08:57 PM
If issue arises with I485 while i EAD, that would a big headache of replying RFE or opening MTR etc in timely fashion. EAD/AP stand cancelled if 485 is denied.
lazycis
01-15 10:48 AM
Thanks a lot for your timely reply. I want to know does it matter how we exited US, I mean did anyone see your advance parole while leaving US.
Regards,
Ravi
It does not matter how you exited. You will need AP to re-enter and you will lose H1 status. I hope AP was approved before you left the US.
Regards,
Ravi
It does not matter how you exited. You will need AP to re-enter and you will lose H1 status. I hope AP was approved before you left the US.
abhaykul
09-10 09:02 AM
Gr8 job ! Shilpa and Aman and all core members ...Keep it up
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