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NRI Services FAQ - Disclaimer of SBI US Operations
Disclaimer: "US banking regulations do not allow State Bank of India US Operations to open, close or operate Non Resident Indian (NRI) Accounts which are offered by our parent company's branches in India. These accounts are not covered by FDIC Insurance and are not supervised by any US banking regulators since they are domiciled in India. As a service to our parent company's customers or prospective customers we have appended a number of Frequently Asked Questions (FAQs) with explanatory comments and links to authoritative sources of information. This information is provided as general guidance and is neither a solicitation for business, investment advice nor tax advice. Customers and prospects who are permanent US residents should consider seeking professional advice before opening or operating an NRI Account."

US tax law requires income from all sources, including that earned from foreign accounts, to be reported in the annual tax return. US Treasury Department rules require certain accounts at foreign financial institutions which are controlled by US taxpayers to be reported annually. Advice should be sought from your professional advisor for further clarification
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