NRI nominations in India: the folio your family cannot find
Distance makes every administrative gap worse. And the most dangerous administrative gap in an NRI's India portfolio is a stale or missing nomination.
When an NRI passes away abroad, their India-based nominees face a unique set of challenges. The family may be in Singapore. The policies and folios are in India. The bank branch is in Tinsukia or Mumbai. The nominee may not have the original documents. They may not know the folio numbers. They may not even know which AMCs hold the investments.
I have seen this play out with families we serve — and the difference between a smooth resolution and months of anguish comes down to three things. Did the NRI update their nominations after life changes (marriage, children, parents passing)? Did someone in the family — ideally the spouse — have a clear list of all folios, policy numbers, and account details? And is there a person in India — a trusted family member, a CA, an advisor — who can physically follow up with the institutions?
SEBI now requires mandatory nomination for all mutual fund folios. If you have not updated yours, your transactions may be restricted. For NRIs, this is particularly important because the nominee is often in a different country from the assets — and the logistics of a claim across borders add time and complexity.
At Dhansanchay, our NRI annual review includes a mandatory nomination check. Every folio, every policy, every bank account. We verify the nominee is current, the contact details are valid, and the nominee knows they are nominated. That last point — telling the nominee — sounds obvious but is missed surprisingly often.
We also maintain a simple document for every NRI client family: a one-page summary of all India holdings, with folio numbers, AMC names, bank account details, and the nominee for each. One page. Updated annually. Kept by the family and by us. It is the most boring document we produce — and potentially the most valuable.
The families who compound quietly tend to protect the plan from both fear and euphoria. This is perspective, not a personalised recommendation. Decisions belong in conversation with someone who knows your full picture.
NRI taxation, FEMA regulations, and DTAA provisions are complex and change frequently. This article reflects our understanding as of April 2026 and is for general education only. It is not tax, legal, or investment advice. Always consult a qualified chartered accountant or cross-border tax advisor for guidance specific to your residency status, country of residence, and financial situation.