~₹5,000 lost per $10,000 wire
E*TRADE's $25 outbound wire fee plus your Indian bank's FX spread (30–60 paise/USD) adds ₹4,000–₹7,000 of friction every time you repatriate CDNS proceeds.
USD-only cost basis
E*TRADE reports every lot in USD. Your India ITR needs INR cost basis at the vest-day SBI TT rate, lot by lot — a manual rebuild at every filing season.
FIFO default buries LTCG savings
E*TRADE defaults to FIFO lot selection. For Indian residents on the 24-month LTCG rule, picking the right lot can mean the difference between 20% tax and 30%.
No India compliance tooling
No Schedule FA. No Form 67 / FTC prep. No 24-month LTCG countdown per lot. All DIY or CA-managed from the USD 1099-B each filing season.
How to transfer your CDNS RSUs to Rovia
Everything is done inside Rovia — takes about 2 minutes.
Download your E*TRADE holdings statement
Log into us.etrade.com/stockplans → Tax Center or Stock Plan Transactions → Download your positions and gains statement. Save this — you'll upload it to Rovia later so it can import your exact cost basis.
Open Rovia → tap Transfer In → select E*TRADE
Open Rovia and navigate to Transfer In. Select "E*Trade from Morgan Stanley" from the broker list. Enter your full name exactly as it appears on your E*TRADE account, and your E*TRADE brokerage account number.
Choose full or partial — then submit
Select Full Transfer to move all your CDNS holdings, or Partial to pick specific lots. Submit and you're done — the transfer is now in motion. No sale, no tax event. Shares move in-kind in 3–5 business days.
Upload your statement — Rovia imports your cost basis
Once shares arrive, upload the statement from Step 1. Rovia uses it to import your cost basis, compute INR amounts at the vest-day SBI TT rate for each lot, and start the 24-month LTCG countdown. Your India compliance stack is now on autopilot.
Does E*TRADE charge a fee to transfer out? Is it a sale?
ACATS is an in-kind share transfer — no shares are sold and no capital gains are triggered. Your shares move as-is to Rovia with vest dates and cost basis intact. E*TRADE may charge an outbound fee (typically $50–$75 one-time); check your account agreement. Rovia charges nothing to receive.
Will my vesting schedule change?
No. Future CDNS vests continue landing at E*TRADE. Don't close your account — only move already-vested shares to Rovia.
Is the ACATS transfer a taxable event in India?
No. Transferring shares between brokers via ACATS is not a sale — no capital gains event is triggered. Your holding period continues from the original vest date.
Earnings dates are estimates for Q2 2026. Blackout windows are approximate — actual dates are set by Cadence and communicated to employees separately. ACATS share transfers are generally permitted during blackout periods (they are not sales), but always verify with your stock plan administrator.
India tax guide for US RSU holders
RSU vesting: it's taxable income on Day 1
When your RSUs vest, the fair market value of shares on the vest date is treated as a perquisite — a form of salary income under India's Income Tax Act. This means you owe tax in the year of vesting, regardless of whether you sell. The taxable amount is the number of shares vested × vest-day closing price, converted to INR using the SBI TT buying rate on that date.
Most Indian employees at US tech companies are in the 30% slab plus 4% health and education cess, bringing the effective perquisite tax rate to 31.2%. Your employer's US payroll typically withholds a portion via sell-to-cover, but you must self-assess any balance in your India ITR.
Capital gains: the 24-month rule that most employees miss
India taxes capital gains on foreign shares differently from the US. In the US, long-term capital gains kick in at 12 months. In India, foreign shares must be held for 24 months to qualify as long-term capital assets.
Short-term capital gains (STCG) — shares held less than 24 months from the vest date — are taxed at your income tax slab rate. For a senior IC in the 30% slab with 15% surcharge, that's approximately 35.88% all-in. Long-term capital gains (LTCG) on foreign shares are taxed at a flat 12.5% under the Finance (No. 2) Act, 2024, effective July 23, 2024 — the prior 20%-with-indexation regime was replaced and indexation was removed entirely. With surcharge and cess on top, the all-in LTCG rate sits around 14–15% for high earners.
The 24-month clock starts from the vest date (not the grant date). Each lot vests separately, so careful lot tracking is essential.
Schedule FA: the foreign asset disclosure most people skip
Schedule FA (Foreign Assets) in the ITR must be filed by every Indian resident & ordinarily resident who holds any foreign asset — including US stocks — at any time during the relevant accounting period. There is no minimum threshold for disclosure: even a single share triggers filing. The accounting period for Schedule FA is the calendar year (January 1 – December 31), not the Indian financial year — a quirk that catches almost every first-time filer.
Failure to disclose is treated as a violation under the Black Money (Undisclosed Foreign Income and Assets) Act, 2015, with penalties of ₹10 lakh per year under Section 43, prosecution risk under Section 50 (up to 7 years), and reassessment open for up to 10 years under Section 149(1)(c). The Income Tax Department now receives end-of-year balances directly from US financial institutions via the Common Reporting Standard, so non-filing is increasingly mechanically detectable.
Schedule FA requires per-lot disclosure: name of the foreign entity, country code, acquisition date, initial value (INR at vest-day RBI TT rate), peak value during the calendar year, closing value at Dec 31, and any sale proceeds during the period. Rovia auto-generates Schedule FA data at filing time.
Form 67 and the foreign tax credit
If your US stocks pay dividends, the US withholds 30% (or 25% if you have filed a W-8BEN, as all Rovia account holders do). India also taxes dividend income at your slab rate. To avoid double taxation, you can claim a Foreign Tax Credit (FTC) by filing Form 67.
Form 67 must be filed before the ITR due date — not after. It requires the dividend amount, the US tax withheld, and the exchange rate on the dividend payment date. Rovia tracks dividends lot-by-lot to produce Form 67-ready data.
The INR cost basis problem: why it matters
Your broker (Schwab, E*TRADE, Fidelity, Morgan Stanley) maintains your cost basis in USD. But India's capital gains calculation requires INR cost basis, converted using the SBI TT buying rate on the vest date of each lot.
For a 4-year employee with quarterly vesting, this means 16 individual lots, each with a different USD price, different exchange rate, and different 24-month clock. Getting this wrong — even by using the wrong exchange rate — constitutes an incorrect ITR filing.
Rovia applies SBI TT rates automatically at each vest date and maintains lot-level INR cost basis. Your CA gets a ready-to-file summary rather than a 1099-B in USD.
What Rovia automates for you
INR cost basis — automatic
Every lot gets INR cost basis at the vest-day SBI TT buying rate. No manual conversion, no spreadsheet, no CA fee for pulling rates.
24-month countdown per lot
Rovia shows a countdown to LTCG eligibility for each lot. You can see at a glance which CDNS lots are short-term vs. long-term before you sell.
Schedule FA ready to file
Rovia generates Schedule FA data (peak balance, acquisition cost in INR, country) for your CA or your own ITR — no manual reconstruction from statements.
Form 67 / FTC tracking
Dividend withholding tracked lot-by-lot. Form 67 data ready at filing. Claim back the US 25% withholding as a foreign tax credit in India.
0 platform FX markup
When you repatriate CDNS sale proceeds, Rovia adds no FX spread. You pay your bank's wire rate — saving ₹4,000–₹7,000 per $10,000 repatriated vs. E*TRADE.
India-based support, IST hours
Rovia's support team is in India. If you have a tax or transfer question at 10 AM IST, someone answers — not an overnight ticket queue.
Ready to move your
Cadence RSUs?
Transfer in minutes inside Rovia. Your CDNS shares arrive in 3–5 days with INR cost basis, lot-level 24-month LTCG countdown, and Schedule FA ready for filing.
Transfer to Rovia →
