Investment options for US NRI's in Mutual Funds?


This could be off-topic question as this forum is specially focused on Returning India Preparation. So sorry for that. But I think there are some people those are still in US and planning to go back to India after few years might have question like I have. The question is “Is there any way to maximize my hard worked earned money in US (in $) by investing them in most famously known as “Mutual Funds” in India?” As everybody know that there are hurdles for the so called “US PERSON” to invest into Mutual Funds in India.
Is it possible for us to invest in MF’s? Which are those plans? Please share if anybody is already doing it. What could be the effect on US tax returns? Where should we mention such investment details in US Tax return forms?


From what I understand, NRIs can invest in mutual funds if they have an NRE or NRO account. But there are restrictions. Contacting the bank/agent would be your best bet, but this article throws some light on this topic. You might find it useful.