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Level 2
posted Mar 13, 2025 2:02:02 PM

Help with reporting employee provident fund from India on 1040

I am filing for US tax for the first time.  I came here from India last year and got married and got my green card.  I am planning to file 1040 jointly with my spouse who is a citizen.  I am told I need to report all my income from India. 

 

My question is about the employee provident fund fund that I had to cash out last year.

  • Do I need to report it on my 1040? Or since India has a treaty I do not have to report it? 
  • If so, which amount to report: the interest income for 2024 or something else?

 

Thank you a lot for your help in advance.

0 2 2178
2 Replies
Expert Alumni
Mar 13, 2025 3:04:15 PM

Yes, you do need to report this as income on your US tax return because you are required to report your Worldwide income.

If you were taxed on this in India, you may receive a foreign tax credit to avoid double taxation. If you weren't taxed on this in India, you wouldn't be eligible to claim this credit. Also, you would report the full amount of the distribution and not just the interest.

 

 Here is how to report.

 

  1. Log into your account
  2. Select Wages and income
  3. Less Common income
  4. Miscellaneous Income, 1099-A, 1099>start
  5. Scroll to the bottom of the page to Other Reportable Income
  6. Other taxable income, answer yes
  7. Then give a brief description of the income and the amount listed. Here record EPF payment from India and the full amount of the distribution.

If you paid Foreign Taxes on this distribution, you may claim a Foreign Tax Credit to avoid being double-taxed on the same income. Here is where you will begin claiming this credit.

 

  1. Go to Federal
  2. Deductions and credits 
  3. Estimate and other taxes paid 
  4. Foreign Tax Credit>start or revisit

 

 

 

 

 

 

Level 2
Mar 13, 2025 3:41:58 PM

Thank you for providing your insights.