Starting January 1, 2026, non-US residents in the United States, including NRIs and foreign students, will be subject to a 1% excise tax on certain international money transfers. This tax, part of the 'One Big Beautiful Bill Act,' applies to remittances made via cash, money orders, or cashier's checks. Transactions using bank accounts, debit, or credit cards, and those by US citizens using qualified providers, are exempt. The tax aims to generate revenue for the US Treasury from outward remittances.