Indian CPA and NRI tax guide

H-1B, green card and F-1 tax filing for Indians in the U.S.

Your visa status decides whether you file as a resident or a nonresident, and what you must report from India. Here is the plain-English version for H-1B, L-1, H-4, green card and F-1/OPT.

General U.S. tax information for 2026. Written by Prem Tax and Accounting Corp, a CPA firm. This guide covers U.S. tax. India has its own tax law and filings, which are separate, and we coordinate with your advisers there. We are not an immigration law firm: for visa and green card questions, ask an immigration attorney. This is not tax or legal advice for your situation.

Prepared by Prem Tax and Accounting Corp. Last checked against official sources on October 9, 2026.

Resident or nonresident?

Your situation	Usually files as	Form
H-1B, L-1 or O-1 worker past the substantial presence test	Resident	Form 1040, worldwide income
Green card holder	Resident (from the day you hold the card)	Form 1040
F-1 or J-1 student, first 5 calendar years	Nonresident (exempt individual)	Form 8843, and Form 1040-NR if you had U.S. income
First year on H-1B or after a change of status	Often dual-status, or elect to be a resident	Form 1040 with statements, or 1040-NR
H-4 spouse	Depends on days in the U.S. and status	Ask us

The 183-day formula

You meet the substantial presence test if you were in the U.S. at least 31 days this year and the total of this year's days, one-third of last year's and one-sixth of the year before is at least 183. F-1 and J-1 students and some other visa holders do not count days while they are exempt individuals.

What to report from India

Bank accounts (savings, NRE, NRO, fixed deposits): FBAR above $10,000 in total at any time, and the interest is income.
Form 8938 (filed with your return) if foreign financial assets are over $50,000 on the last day of the year or $75,000 at any time for a single resident ($100,000 and $150,000 for joint filers).
Mutual funds, ULIPs and other pooled funds: often PFICs, with Form 8621.
Rental income and gains from India property, with the foreign tax credit for Indian tax paid.
Money from parents or family: Form 3520 if a foreign gift passes $100,000 in a year.

Students on F-1 and OPT

File Form 8843 every year you are a U.S. student exempt from the day count, even with no income.
If you earn U.S. wages, including on OPT, you generally file Form 1040-NR.
A student or business apprentice from India may be able to claim the standard deduction under the treaty (see Publication 519).
After 5 calendar years as a student, you may start to count days as a resident.

We prepare returns for residents with India income and accounts, and we help you catch up if something was missed. Book a 20-minute call.

Common questions

Do H-1B workers file as residents?

Usually, once they pass the substantial presence test, which for most H-1B workers happens in their first or second year. Residents file Form 1040 and report worldwide income. Your first year may be a "dual-status" year, with a choice to be treated as a resident for the whole year.

Do I need to report my India savings account?

Yes, if you are a U.S. resident and your foreign accounts total more than $10,000 at any time in the year, you file the FBAR. You may also file Form 8938 above higher thresholds. The interest is taxable income.

Do F-1 students file taxes?

Yes. Even with no income, an F-1 student who is an exempt individual files Form 8843. If you earned U.S. income, such as OPT wages, you generally file Form 1040-NR as a nonresident. F-1 students are exempt from counting days for up to 5 calendar years.

Can an Indian student claim the standard deduction?

A nonresident alien generally cannot, but a student or business apprentice from India may be able to claim it under the U.S.-India tax treaty. See IRS Publication 519.

My spouse is on H-4. What do we file?

It depends on both of your residency status and whether the spouse has income. Married couples can often file jointly if both are residents or elect to be treated as residents. Ask us before you file separately.

Official sources

Looking for an Indian CPA or tax expert who understands both countries? Keshav Agrawal is a U.S. CPA and a Chartered Accountant (CA) from India. We help with returns, India accounts and investments, foreign reporting and IRS notices, online anywhere in the U.S. and in person in Aurora. Book a 20-minute call or send us a message.

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