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What is the process of Repatriation of Funds from the Indian NRO Account to an account in foreign?

What is the process of Repatriation of Funds from the Indian NRO Account to an account in foreign

Are you interested in understanding the process of repatriation of funds? If yes, then this guide is for you. Basically, repatriation is the capacity to transfer money freely across nations by converting it to a different currency. If you are an NRI you need to open an NRO, NRE, or FCNR-B account in India and the NRI can transfer funds to an overseas account in the country in which the NRI resides.  

Let’s take a look at how you repatriate. What documents are required? Is it possible to do it from abroad? Together, let’s explore how to repatriate funds from an NRO account to the United States and get a better understanding of the process.

FEMA Regulations on Repatriation of Funds

  • RBI allows the NRIs to remit up to USD 1 million per financial year from the NRO account, provided you follow specific procedures. The funds in NRO accounts are usually from income earned locally, like certain capital amount transactions or the rent on a property acquired in India.
  • There are tax liabilities associated with NRO accounts. It is only possible to repatriate funds after deducting taxes from NRO accounts.
  • In the event that an NRI repatriates less than USD 1 million in a year, the remaining limit cannot be carried forward.
  • Up to USD 1 million in income can be repatriated per financial year from rent, salary, dividends, pensions, and earnings from immovable property (such as land and houses).
  • Mutual funds, equity shares, etc., which are invested out of NRO funds, are non-repatriable

Necessary Documents for repatriation of Funds

  1. Application form from foreign account bank of NRI.
  2. Passport of applicant (NRI)
  3. PAN Card
  4. Visa / PIO (Persons of Indian origin) / OCI  Card (Overseas Citizen of India)
  5. 15 CA/CB certificate- certificate from a chartered accountant that declares the remitter has paid all the taxes incurred.
  6. A2 form
  7. Supporting documents to manifest the source of funds that is to be repatriated.

Two documents are required to remit funds from an NRO account: Form 15CA and Form 15CB. The purpose of these documents is to ensure that taxes are paid on funds before they are remitted abroad. 

  • Form 15CA – is an undertaking by the NRI to remit funds
  • Form 15CB – is a certification of the report by the chartered accountant


The 15CA form needs to be filled out, signed in, and submitted online, at the official website of the Tax Information Network, by NRIs. The form will have all the relevant information about the remitter, including account number, amount, and overseas account information. This form also contains the details of the accountant who certifies 15 CB.

After submission, an acknowledgement will be received. The NRI needs to sign this acknowledgement and submit it to the bank along with the 15CB and other documents.

Final Thoughts

In conclusion, an NRE or FCNR account serves a valuable purpose. There is no maximum transaction limit, no taxes are charged, and the service is fully repairable. There is no doubt that repatriation through your NRE account is faster and unrestricted.

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