@atlasthere , Namaste and apologies for delayed response -- my wife in ICU with cancer .
Generally the law is intended for US persons ( citizens / GreenCard holders). But of course Residents for Tax purposes , such as you come under this also because there is no carveout. The fact that you send the monies ( after taxes ) to your own bank account and then help your parents, kind of puts in a different category --- this is not really gift but maintenance of the household of ;parents.
There is also no gift tax as such when you send more than the "free amount " per donor per donee -- it is just a reduction of your life time credit ( by the excess amount and the need to file a form 720 ). Assuming that you are married and file jointly, then you each can send the "free" amount to each of your parents -- so essentially four times the free amount.
Is there more I can do for you ?
pk
