NRO to NRE Document Checkist

If source of funds is current income

1. Signed Form 15 CA (mandatory)

2. System generated 15 CB (mandatory if part c is filled in form 15 CA) 

3. Proof of Bank credit (i.e. Narration in Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in Non Metra Trust account)

4. Proof of source of funds (as applicable) (mandatory)

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’

• If TDS certificate mentions source of funds, then same is acceptable as proof for source of funds.

• If source of funds is interest from Metra TrustSavings A/c or FDs, 15 CA & CB is NOT required

If source of funds is inherited property

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA) 

3. Proof of Bank credit (i.e. Narration in Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in Non Metra Trust account)

4. Copy of the registered sale deed for sale of property (mandatory)

5. Copy of the death certificate (not required in case of partition deed or court order)

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’

• If the details of the inheritance are not clearly mentioned in the sale deed, please provide any one of the additional document (Copy of the Will or Succession Certificate or Legal Heirship Certificate or Partition Deed or Settlement Deed or Court order or Share certificate of Co-operative Housing Society showing transfer of the share to the seller or Mutation Deed / Certificate or Letter of Administration)

• This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong and Democratic People’s Republic of Korea. Such persons are required to obtained RBI approval in order to repatriate the funds

If source of funds is purchased property

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA)

3. Proof of Bank credit (i.e. Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in other bank account)

4. Copy of the sale deed (mandatory)

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’

• If the property purchased and sold is agricultural land / plantation / farmhouse, then proof of RBI approval for such purchase would be required.

• This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan, Macau, Hong Kong and Democratic People’s Republic of Korea. Such persons are required to obtained RBI approval in order to repatriate the funds.

If source of funds is property related refunds

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA)

3. Proof of Bank credit (i.e. Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in other bank account)

4. Valid documentary evidence for cancellation of the deal like cancellation agreement or correspondence between the parties etc.(mandatory)

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’

• This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, Bhutan Macau, Hong Kong and Democratic People’s Republic of Korea. Such persons are required to obtained RBI approval in order to repatriate the funds.

If source of funds is sale of financial assets

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA)

3. Proof of Bank credit (i.e. Narration in Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in Non Metra Trust account)

4. Proof of source of funds (as applicable) (mandatory)

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’Notes:

• In case of assets acquired by inheritance or legacy, please upload any one of the additional document (Copy of the Will or Death certificate of asset owner or Succession Certificate or Legal Heirship Certificate)

• Repatriation of sale proceeds of other financial assets is not allowed for citizens of Pakistan, Bangladesh, Nepal and Bhutan.

If source of funds is gift from resident relative

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA)

3. Proof of Bank credit (i.e. Narration in Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in Non Metra Trust account)

4. Gift deed or following email declaration/ letter from the resident (mandatory & attach as a pdf document)

As a resident Indian, I hereby declare that the funds are transferred as GIFT to NRO account is within the limit of USD 250,000/- (US Dollar Two Lakh Fifty Thousand Only), which is the limit prescribed by RBI for the purpose in FY___.

If source of funds is loan repayments

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA)

3. Proof of Bank credit (i.e. Narration in Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in Non Metra Trust account)

4. Proof of loan (i.e. Statement showing debit from customers NR accounts at the time of lending to person resident of India) (mandatory)

5. Following email declaration/ letter from the resident (mandatory & attach as a pdf document)

As a resident Indian, I hereby declare that the funds are transferred as Loan Repayment to NRO account is within the limit of USD 250,000/- (US Dollar Two Lakh Fifty Thousand Only), which is the limit prescribed by RBI for the purpose in FY___.

6. Following email declaration / letter from the NRI customer (mandatory & attach as a pdf document)

• Lending was done only on a non-repatriation basis;

• The amount of loan had been given either by inward remittance from outside India or by debit to NRE/NRO/FCNR(B)/NRNR/NRSR account of the lender, maintained with an authorized dealer or an authorized bank in India;

• Period of loan has not exceeded 3 years;

• Rate of interest on the loan was not more than two per cent above Bank Rate prevailing on the date of availment of loan;

• Payment of interest and repayment of principal has been made only to the NRO account of the lender

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’

If source of funds is inward remittance

1. Signed Form 15 CA (mandatory) 

2. System generated 15 CB (mandatory if part c is filled in form 15 CA)

3. Proof of Bank credit (i.e. Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in other bank account)

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’

If source of funds is a combination multiple sources

1. Signed Form 15 CA (mandatory)

2. System generated 15 CB (mandatory if part c is filled in form 15 CA) 

3. Proof of Bank credit (i.e. Bank statement of other bank showing the credit) (mandatory if source of fund credit is reflecting in other bank account)

4. Proof(s) of source of funds (as applicable) (mandatory)

If one of the sources of funds is loan repayments, by proceeding, you agree that:

• Lending was done only on a non-repatriation basis;

• The amount of loan had been given either by inward remittance from outside India or by debit to NRE/NRO/FCNR(B)/NRNR/NRSR account of the lender, maintained with an authorized dealer or an authorized bank in India;

• Period of loan has not exceeded 3 years;

• Rate of interest on the loan was not more than two per cent above Bank Rate prevailing on the date of availment of loan;

• Payment of interest and repayment of principal has been made only to the NRO account of the lender

Notes:

• Remittance amount should match the total amount in one or more proofs for ‘source of funds’