Inform IOB immediately. If the remittance has already been processed, you will need to request a cancellation and pay recall charges (≈$25+).
In simple terms, when you want to:
IOB’s NetBanking platform incorporates a digital version of Form A2: form a2 indian overseas bank
| Purpose | Code | Example | | :--- | :--- | :--- | | Study Abroad (Tuition) | S0601 | Paying university fees. | | Study Abroad (Living Expenses) | S0602 | Maintenance allowance. | | Travel (Tourism) | S0101 | Hotel, sightseeing. | | Travel (Business) | S0102 | Conference, trade fair. | | Medical Treatment | S0801 | Hospitalization abroad. | | Gift to Non-Resident | S1301 | Cash gift to relative. | | Purchase of Shares/Funds | S0001 | Investing in foreign stocks. |
Form A2 is a mandatory application for the purchase of foreign exchange. While it is most commonly used for personal transactions under the , which allows residents to remit up to USD 250,000 per financial year , it is also required for business-related outward remittances that are not import-related. Inform IOB immediately
| Remittance Purpose | Required Documents | | :--- | :--- | | | Admission letter, fee structure/invoice from university, student visa copy. | | Travel (Tourism) | Passport copy, visa (if applicable), flight itinerary/ticket. | | Medical Treatment | Diagnosis letter from Indian doctor + estimate from foreign hospital. | | Employment/Emigration | Employment contract or emigration visa. | | Investment | PAN card, CA certificate, Form A2 – Part 2 (for remittances > $250,000 for investment). | | Gift to NRI relative | Proof of relationship (e.g., birth certificate) and PAN card of donor. |
: Sending funds for the maintenance of close relatives residing abroad. | | Study Abroad (Living Expenses) | S0602
This comprehensive guide explains what Form A2 is, when you need it for IOB, how to fill it out correctly, and the step-by-step process for submitting it.