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If an account holder dies, the legally appointed beneficiary can reach out to us at support@paasa.com. Upon receipt of a certified death certificate, IBKR will commence estate processing to determine appropriate distribution of assets. The process varies based upon account type, jurisdiction and other factors. The outcome of probate in the resident country is sufficient to distribute assets according to the instruction of the legally appointed representative of the deceased. Processing instructions will be provided to verified estate administrators, heirs or beneficiaries.

With the exception of disbursement of assets to an executor, administrator or other fiduciary of the estate of the deceased, Interactive Brokers cannot disburse any such US assets (or proceeds from their sale) to heirs or beneficiaries of the deceased until they receive EITHER:

1. a signed letter from Executor or heir(s) affirming that on date of death, the deceased owned less than $60,000 in US-located assets, OR
2. a Transfer Certificate issued by the U.S. IRS.

In order to obtain a Transfer Certificate, an estate tax return for a non-resident alien (Form 706-NA) must be filed and all taxes due paid. See this link for more information.

We recommend consulting a tax professional regarding the best way to approach Estate Tax, as we cannot provide tax advice.

View our complete pricing plans and features on our pricing page.

Compare: Vested vs Paasa → | INDmoney vs Paasa →

To add money to your Paasa account, you need to wire funds.

If you're sending money from an Indian bank, you'll need to remit funds overseas. Your bank will apply both remittance fees and FX markups. Paasa helps our customers get preferred FX rates through our partner banks (HDFC, ICICI, Kotak, and Axis).

You can also add funds from a bank account outside India. The wire instructions and beneficiary details for your account can be found in the app.

Funds can be withdrawn in the currency your bank accepts. However, if your bank only accepts INR, the withdrawal is processed in USD, and then your bank converts it to INR.

Your bank may apply an FX markup on the conversion, which you can negotiate with them prior to withdrawal.

Yes, all banks charge fees for outward remittances. Here are the charges for major banks:

• ICICI Bank: ₹750 (online/app) to ₹1,000 (branch)
• HDFC Bank: ₹500 (up to $500) or ₹1,000 (above $500) plus taxes
• Kotak Mahindra Bank: ₹1,000 outward remittance + ₹500 SWIFT + ₹1,250 foreign bank charges = ₹2,750 total
• Axis Bank: ₹100–₹1,000 depending on account type, plus ₹500 SWIFT charges
• SBI: 0.125% of amount (minimum ₹125)

All banks also charge:

• Currency conversion service fee: Typically 0.18%-1% of INR amount (varies by bank and amount tier)
• FX markup: Typically 1.5–2% over mid-market rate (Paasa partner banks offer ≤0.40 INR markup)
• GST: 18% on all fixed fees and service charges

Note: A portion of these fees may vary. Please verify with your bank for current rates.

Learn more about using LRS for investments →

Taxation follows normal Indian rules for foreign securities:

• Short-term capital gains are taxed at your marginal income tax rate
• Long-term capital gains (>2 years) are taxed at 12.5%
• Dividends are taxed at your marginal income tax rate

Read more about capital gains tax → | Read about dividend tax →

For Indian residents investing in global stocks and ETFs, the Tax Collected at Source (TCS) rate is 20%, applicable only on amounts exceeding ₹10 Lakhs in a financial year.

This means that for the first ₹10 Lakhs you remit abroad in a year, there is zero TCS. The 20% tax applies only to the portion of your remittance that crosses this threshold.

The bank deducts TCS from your account when the ₹10 Lakh threshold is met for the year.

Read more about TCS on foreign investments →

In joint accounts, income and capital gains are typically split between account holders based on ownership percentage. Each holder must report their share of income and gains in their individual tax returns.

If only the primary holder funds the account, all income and gains are typically attributed to the primary holder for tax purposes.

Read more about joint account taxation →

Non-residents, including Indians and NRIs, have a much lower US estate tax exemption of $60,000 compared to US residents. US estate tax applies to US-situated assets like stocks, ETFs, and real estate.

Tax rates can be up to 40% on amounts above the exemption. Estate planning strategies such as holding assets through certain structures can help minimize exposure.

Read more about US estate tax →

Paasa or IBKR do not directly tax accounts at the time of an account holder's death. The executor of the individual's estate is responsible for calculating and paying any applicable taxes, including US estate taxes on foreign nationals for US-domiciled assets.

Interactive Brokers cannot disburse any such US assets (or proceeds from their sale) to heirs or beneficiaries of the deceased until we receive EITHER:

1. a signed letter from Executor or heir(s) affirming that on date of death, the deceased owned less than $60,000 in US-located assets, OR
2. a Transfer Certificate issued by the U.S. IRS.

In order to obtain a Transfer Certificate, an estate tax return for a non-resident alien (Form 706-NA) must be filed and all taxes due paid. See this link for more information.

Here are comprehensive guides on taxation of foreign equities:

• How Global Stocks and ETFs Are Taxed in India →
• Capital Gains Tax on Foreign Stocks and ETFs →
• Dividend Tax on Foreign Stocks and ETFs →
• Schedule FA Guide for Indian Investors →
• Form 67 Guide for Indian Investors →
• TCS on Foreign Investments →
• How Joint Global Brokerage Accounts Are Taxed →
• How US Estate Tax Works for Indians and NRIs →

Paasa is a brand operated by Arc Spire Advisory Private Limited, a SEBI-registered Non-Individual Investment Adviser (INA000021058).

Paasa uses 256-bit encryption. We undergo regular VAPT testing and have passed all checks to become ISO 27001 certified.

Your advisory relationship with us is non-discretionary. This means your account remains self-directed, with investment advice provided separately on a non-discretionary basis.

Paasa can not make investment decisions or charge you advisory fees without your explicit prior approval.

You can open a new separate account on Interactive Brokers or any other global broker and transfer your holdings out of Paasa.

In a position transfer, the receiving broker initiates the transfer. Your new broker can guide you through the process of transferring the positions to them.

For transfering your positions to another IBKR account please contact us at support@paasa.co

IBKR customer support team is not equiped to handle queries related to Paasa. They service clients who directly make an account with IBKR. We request you to approach us on whatsapp or email with your queries for the quickest resolution.

If you would like to leave Paasa, we can help you move your holdings out to another broker as well.

You can open a new separate account on Interactive Brokers or any other global broker and transfer your holdings out of Paasa.

In a position transfer, the receiving broker initiates the transfer. Your new broker can guide you through the process of transferring the positions to them.

For transfering your positions to another IBKR account please contact us at support@paasa.co