Thanks, PK, for exemption link for form 720. I looked at it. So, while India does have a treaty with US, but Bajaj Allianz life insurance is not listed (under letter B) for having closing agreement with IRS. I did find several Allianz corporations under letter A but they are all having address in Europe. So not sure I would be exempt. Perhaps best thing is to pay the 1% (about $120) of premium for 2024 to close the matter on this form. Then I will submit withing deadline for all future years.
As for other questions, please do let me know what you find out. Thanks so much.
