Do I have to report my Indian accounts and assets to the US government every year?

Yes, in most cases. Two separate regimes apply. The FBAR (FinCEN Form 114) is required if the combined high balance of all your foreign financial accounts — NRE, NRO, FCNR, demat, EPF, PPF — tops $10,000 at any point in the year; it's filed electronically, separate from your tax return. Form 8938 (FATCA) is filed with your 1040 when foreign assets exceed higher thresholds (for example, $50,000 for single filers living in the US, more for joint or overseas filers). On top of these, you report the income those assets generate, and PFIC holdings need Form 8621. Penalties for missed FBARs are severe — into the tens of thousands of dollars — so this is not optional housekeeping. Keep year-end statements for every Indian account and file consistently. wealthserene.com/assessments/immigrant-readiness can help you check your gaps.