Migrating to the US poses tax and investment considerations for individuals like Karen, who must report their Indian investments to the IRS. Compliance is important to avoid penalties. Various methods of reporting exist, such as market to market or qualified electing fund. Families living partly in India and US face additional cross-border taxation and investment challenges. Green card holders like Karen have options like investing in Indian equities through US-based ETFs or Indian portfolio management services to reduce compliance burdens. New tax provisions also affect Ulip policies for green card holders and NRIs.