Repatriation of Inherited Assets from India
Regi Tom Antony, FCA — a practicing Chartered Accountant who advises NRIs, OCIs and returning founders on the same questions every week. Every page here is drawn from the book and live engagements, not stock copy.
This guide is part of NRI Blueprint's succession and estate planning hub, where we coordinate wills, inheritance, FEMA, probate and repatriation for global Indian families.
Inheritance under FEMA is the easy part — an NRI or OCI may inherit Indian assets freely. The constraint appears when the family wants the value out of India. Inherited money and sale proceeds land in an NRO account, and from there repatriation is rule-bound: an annual limit, a CA certificate, an online declaration, and tax settled first. Get the sequence right and the money moves cleanly; get it wrong and it sits locked while refunds and approvals are chased. If the inheritance includes property you intend to sell first, read Inherited Property in India for NRIs alongside this.
Where inherited money sits: the NRO account.
Inherited funds, and the proceeds of selling inherited Indian assets, are credited to your NRO (Non-Resident Ordinary) account. NRO balances are not freely repatriable the way NRE balances are — they are subject to the FEMA repatriation route below. The first practical step is therefore making sure the funds are correctly routed to NRO with a clear paper trail of their source (inheritance).
The USD 1 million per year limit.
Under FEMA/RBI rules, an NRI or OCI may remit up to USD 1 million per financial year out of NRO balances, including inherited assets and the proceeds of inherited property. This limit is per financial year and across all eligible sources combined, not per asset. Families with larger estates plan the timing across financial years — or seek RBI approval for amounts beyond the limit.
The two forms: 15CB and 15CA.
Before remitting, you need:
- ◆
Form 15CB — a certificate from a Chartered Accountant confirming the nature of the remittance and that applicable tax has been paid or deducted; and
- ◆
Form 15CA — an online declaration you (or your representative) file with the tax department, referencing the 15CB.
The bank will not process the outward remittance without these. The CA certificate is where the tax position on the inheritance/sale is pinned down.
Documentation that supports the remittance.
Expect to evidence the source of funds as inheritance: death certificate; the will with probate, or a succession/legal heir certificate; proof of relationship; and, for sold property, the sale deed, capital-gains computation and TDS/tax-paid proof. Clean documentation is what lets the CA issue 15CB and the bank release the funds without back-and-forth.
Sequencing: tax first, then transfer.
Repatriation is the last step, not the first. The right order is:
Establish entitlement (probate / succession proof).
Bring the asset or proceeds into the NRO account.
Settle the tax (capital gains, TDS, any lower-deduction certificate).
Obtain Form 15CB from a CA and file Form 15CA.
Remit within the USD 1 million per financial year limit.
Planning this sequence before a sale — rather than after — is what avoids locked cash. For the account and FEMA mechanics more broadly, see OCI & FEMA , Property & Repatriation and the general repatriation rules for NRIs.
When you exceed the limit.
If the family needs to move more than USD 1 million in a financial year, the excess generally requires RBI approval, supported by the CA certificate and documentation. Large estates are best mapped early so remittances can be staged across years or routed with approval, rather than discovered at the bank counter.
Answered, candidly.
- How much can an NRI repatriate from inherited assets each year?
- Up to USD 1 million per financial year from NRO balances, combined across all eligible sources, after the required forms and tax. Above this needs RBI approval.
- Which forms are needed to repatriate inherited money?
- Form 15CB (a CA's certificate) and Form 15CA (your online declaration). The bank needs both before processing the outward remittance, with tax paid or deducted.
- Can inherited money go straight into an NRE account?
- No. Inherited funds and sale proceeds are credited to NRO first; repatriation then follows the NRO route within the USD 1 million limit.
- What documents prove the money is an inheritance?
- Typically the death certificate, the will with probate or a succession/legal heir certificate, proof of relationship, and — for sold property — the sale deed, gains computation and tax/TDS proof.
- Do I pay tax again when I repatriate?
- Repatriation itself is not a separate tax. But tax on the underlying event (e.g. capital gains on a sale, or income earned) must be paid or deducted first; the CA confirms this in Form 15CB.
- Our estate is larger than USD 1 million — what now?
- Plan the timing across financial years, or seek RBI approval for the excess. Either way, map it early so the remittances are staged rather than stalled.
Related succession and cross-border resources.
Wills, inheritance, FEMA and repatriation in one cross-border plan.
Tax, FEMA and next steps when you inherit Indian property.
Sell, inherit and repatriate Indian property cleanly.
What NRIs and OCIs can give, receive and hold under FEMA.
Account, property and repatriation rules in depth.
Move inherited money out of India without it getting stuck
The USD 1 million limit, the forms and the tax all have to line up in the right order. Plan the repatriation route before the sale, not after, and your family keeps its options open.
General educational guidance — FEMA limits, forms and tax rules change with each year/Budget and depend on facts. Not a substitute for professional advice.
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