How to Repatriate Money from NRO Accounts to NRE / Overseas Accounts

NRIs with funds in NRO (Non-Resident Ordinary) account often wonder about transferring that money to their overseas accounts—especially when purchasing property abroad, supporting family, or seeking greater financial flexibility.

The transfer process involves specific documentation and tax compliance steps that may not be immediately obvious. Without the right paperwork or understanding of RBI requirements, what should be a straightforward transfer can be delayed for weeks.

NRO repatriation allows you to transfer your Indian funds overseas, subject to certain limits and procedures that ensures compliance with Indian banking laws.

At Kotak Mahindra Bank, we've worked with countless NRIs navigating these transfers. We understand which documents are required, how long the process typically takes, and common causes of delay. That’s why we have put together this simple guide.

This guide breaks down the NRO repatriation process step by step, so you know exactly what to expect and how to prepare for a smooth transfer.

Table of Content:

• What Is Repatriation from an NRO Account?
• Step-by-Step NRO Repatriation Process
• Documents Required for Repatriation
• Tips to Speed Up the Process and Avoid Delays
• Summary: Making Repatriation Seamless with the Right Bank Support
• Frequently Asked Questions

What Is Repatriation from an NRO Account?

Repatriation usually refers to transferring funds from India to a bank account located outside the country.

In the case of NRO accounts, this typically involves sending income sourced from India such as rent, dividends, or interest earned on fixed deposits, to an overseas account or to an NRE (Non-Resident External) account.

Can You Repatriate Funds from NRO Accounts?

Yes, funds from NRO accounts are repatriable under specific conditions laid out by the RBI.

The Reserve Bank of India permits NRIs to repatriate up to USD 1 million (or equivalent) depending on the source of fund, per financial year from their NRO account balances. The 1 million dollar repatriation limit does not include money from current income (rent, interest earned, etc.).

However, repatriation is not automatic. You must:

• Ensure taxes are paid on the interest income
• Submit the required documentation (Form 15CA and Form 15CB)
• Route the transfer through an authorised dealer bank, such as Kotak Mahindra Bank

The amount must also be legitimately sourced­- meaning it should originate from your income earned in India, such as rent, dividends, or sale of assets, and not from other NRO / Resident accounts in India.

If these conditions are met, you can move funds from your NRO account to your NRE savings account or an overseas bank account, subject to annual limits.

Step-by-Step NRO Repatriation Process

Transferring funds from your NRO account to an overseas bank account involves coordination between your Banks and your Chartered Accountant. Here’s how the process works:

Step 1: Ensure Tax Compliance on Funds to Be Repatriated
Before initiating the transfer, verify that all applicable Indian taxes have been paid, especially on the interest income from the NRO FD. Banks cannot process the remittance unless all tax obligations, including TDS, are cleared.

Step 2: Obtain Chartered Accountant Certificate (Form 15CB)
Engage a Chartered Accountant (CA) to review the transaction. The CA will issue Form 15CB, certifying tax compliance and confirming the source and nature of funds. This is mandatory if you're filling Part C of Form 15CA.

Step 3: Complete and Submit Form 15CA Online

Visit the Income Tax e-filing portal and fill Form 15CA digitally. After submission, download, print, and sign the acknowledgement before submitting to your bank.

Step 4: Collect All Supporting Documents

Arrange all necessary documents. Refer the section below for the complete list of documents required for repatriation.

Step 5: Submit Documents to Your Bank (Authorised Dealer)

Visit or contact your Kotak branch or relationship manager and submit the complete set of documents. Some banks may accept scanned copies through email if you are overseas.

Step 6: Bank Verifies and Processes the Transfer

The bank will:

• Verify all documentation
• Check tax compliance and source of funds
• Ensure repatriation is within the USD 1 million/year limit under FEMA

Once validated, the request is processed via SWIFT or through a direct bank transfer to your NRE account.

Step 7: Receive Confirmation

Once the transfer is executed, the bank will provide a transaction confirmation.

Documents Required for Repatriation

The following documents must be submitted to the authorised dealer bank handling your remittance request:

Mandatory Documents

1. Form A2 and Application cum Declaration (for transfers to foreign bank account) OR Funds Transfer Form from NRO to NRE Account (for NRO to NRE transfers)
   A formal request to the bank stating the remittance amount, purpose, and beneficiary details. This is the base document that initiates the process.
2. Form 15CA
   A self-declaration filed online via the Income Tax portal and printed for bank submission. It certifies tax compliance on the funds being remitted.
3. Form 15CB
   Issued by a Chartered Accountant, this form verifies that appropriate taxes have been paid.
4. PAN Card
   Required for verifying tax identity and tracking remittance under Indian tax law. This is also used for TDS applicability.
5. Recent NRO Bank Statement
   Shows the source and credit of funds being remitted. The bank uses this to validate the origin of the repatriated amount.

Additional Document (Case-Specific)

Documentary Proof of Source of Funds
This may include a property sale deed, dividend pay-out record, or rent agreement. It supports the legitimacy of the income.

Any Other Documents as Requested by the Bank
Banks may request additional compliance documents depending on the country of remittance or nature of funds. Requirements can vary by case.

Tips to Speed Up the Process & Avoid Delays

Delays often occur due to minor oversights. Here are practical ways to reduce turnaround time and ensure a smooth remittance experience:

1. Complete Documentation Before You Submit

Ensure all required documents are in place. Incomplete submissions are the most common cause for processing delays.

2. Get Your Tax Forms Prepared in Advance

Coordinate with your Chartered Accountant early in the process. Having a ready Form 15CB and a digitally signed Form 15CA helps speed up the bank's internal review.

3. Maintain an Updated KYC Profile

Verify that the PAN, passport, visa, and contact details are updated in your bank records. Outdated KYC can result in additional compliance checks.

4. Declare the Purpose of Remittance Clearly

When filling Form A2 and your request letter, clearly mention the purpose as per RBI codes (e.g., Repatriation of NRO FD proceeds). Incomplete descriptions may trigger manual scrutiny.

5. Check Country-specific Restrictions or Additional Norms

Certain countries may require additional declarations or have compliance filters for inward foreign credits. Confirm this with your bank or RM if you're remitting to jurisdictions with extra controls (e.g., EU, USA, Gulf countries).

6. Use a Dedicated NRI Relationship Manager (RM)

In case of any confusion, initiate the process through your RM. They can help pre-verify documents, provide timelines, and flag missing paperwork before you submit.

7. Track the Request After Submission

Follow up using your remittance reference number through your bank’s NRI portal or helpline. Prompt action on queries can avoid unnecessary back-and-forth.

Summary: Making Your Repatriation Smoother

Managing finances across borders can feel overwhelming, especially when you're balancing life in multiple countries. The good news is that NRO repatriation becomes much more manageable once you understand the process.

While there's paperwork to handle and specific steps to follow, you're not alone in this. Thousands of NRIs successfully repatriate funds from their NRO accounts every month—most find the process gets easier with time.

Preparation makes the biggest difference. Having your documents ready, working with people who understand NRI banking, and partnering with a supportive bank can save you time and stress. Your first transfer might feel like a learning experience, but with time, you'll know exactly what to expect.

Regardless, we're here to help you through this process. Whether you have questions about documentation, timelines, or just want someone to walk through your specific situation, Kotak’s NRI banking team is here to help.

Reach out to us at [email protected] at our 24/7 NRI helpline whenever you need guidance.