Documents Required for Repatriation from NRE Account

If you are an NRI, you can manage your money in India through NRO (Non-Resident Ordinary) and NRE (Non-Resident External) accounts. These two types of accounts are designed keeping in mind your different financial needs. 

If you have income sources in India, you can transfer what you earn in Indian Rupees to your NRO account. Meanwhile, you can invest your earnings in foreign currencies in an NRE account. If you want all your money in one place, you can transfer funds from your NRO to your NRE account as well.  

But what if you need funds in your country of residence? Well, you can transfer the funds in your NRE account back into your overseas account. This process is known as repatriation. 

In this article, we will explain how you can move funds from your NRE account to your overseas account. 

How does repatriation from an NRE account work?

According to RBI’s guidelines, you can transfer or repatriate funds from your NRE account freely without any limit. Your salary, investments, interest, profits of any business or proprietorship deposited in an NRE account are freely and fully repatriable. 

Remember that when you remit money to NRI accounts, they are first converted to INR. This means when you invest your overseas earnings in an NRE account, they get converted into INR. So, when you move them, they first get converted to foreign currency according to your bank’s exchange rates.

What are the documents required for repatriation from NRE accounts?

To process the repatriation of funds from your NRE account, you need to provide the following documents:  

1. The request form to your bank: You need to fill up this request form to notify your bank about the remittance.
2. Form A2: This form is also known as the FEMA declaration form, or form for outward remittance. You can find a sample form here on RBI’s website.

What is Form A2?

Essentially, Form A2 is a declaration cum application for purchasing foreign exchange for remittance purposes.

When you fill out this form, you need to provide the following key details:

• The amount of remittance
• Beneficiary details (Name, Address, Account number)
• The NRI repatriation purpose code. This code indicates the reason for repatriation. You can find RBI’s list of repatriation purpose codes here or clarify with your bank.

By signing Form A2, you agree to comply with FEMA and declare that all the funds you are transferring are within the overall limit of the Liberalized Remittance Scheme prescribed by the Reserve Bank of India. 

Additionally, you certify that the source of funds for making the remittance belongs to you and will not be used for prohibited purposes.

Final thoughts

Since NRE accounts are designed for the purpose of repatriation, you will not have to go through too much paperwork. 

However, remember that each bank has its own request form and A2 form with its logo and specific instructions. So, go to your bank’s website and check if these forms are available. If yes, you can download the forms and send the duly filled up form to banks via courier for processing. 

If you do not find these forms on your bank’s website, contact them to learn about their offline and online repatriation services.