How to convert an NRI demat account to a resident demat account?

To convert an NRI demat account to a resident demat account, specific documentation and procedures must be followed. The conversion requires application forms, identity documents, address and bank proof. Refer to the sample copies to learn how to fill and sign the forms. The process involves submitting physical documents with a ₹500 fee to Zerodha's office and completing In-Person Verification. The conversion typically takes up to 7 working days, during which Kite access is temporarily suspended, though holdings remain viewable through CDSL Easi. You can convert either the NRE or NRO accounts to a resident account and not both. You must also ensure to clear negative balances, close all open positions and withdraw any remaining funds before starting the conversion process.

What are the steps to convert an NRI account to a resident account?

The steps to convert a resident account to an NRI account are as follows:

1. Pre-conversion requirements:

Clear all debit balances in your account.
Withdraw any existing credit balance.
Close all open positions.
Verify your name and signature match existing account records.

2. Document preparation:

Download and fill out the required forms.
Gather supporting documents.
Ensure all signatures match your existing signature proof. The signature in the existing account can be found by visiting console.zerodha.com/account/documents, selecting Signature proof in the drop-down menu, and clicking on E-mail to me.

3. Initial submission:

Email all completed documents to forms@zerodha.com .
Wait for document review and feedback.
Make any corrections if requested.

4. Complete In-Person Verification (IPV):

Visit signup.zerodha.com/ipv.
Note the 4-digit OTP shown on the screen.
Enable your camera.
Show the OTP while being clearly visible.

5. Final submission:

Courier the documents and account opening fee of ₹500 (cheque payable to Zerodha Broking Limited) to Zerodha's Bangalore office:
Zerodha Customer Support Centre,
680, Fortuna 1, 15th Cross Road,
8th Main Road, 2nd Phase, J. P. Nagar,
Bengaluru, Karnataka, 560078

What are the documents required to convert an NRI demat account to a resident demat account?

The table below shows the documents required to convert an NRI account to a resident account:

Type of document	Requirements
Application form	Equity application form (PDF). Sample equity form (PDF). Refer to the signature guidelines (PDF) to learn how to sign all the forms.
Account closure form	Account closure form (PDF). Fill out the correspondence address as per the existing account. Sample copy (PDF).
Account modification form	Account modification form (PDF). Sample copy (PDF).
Annexure B	Annexure B (PDF) to update the name in the demat account as per the latest documents. Sample copy (PDF).
PAN	Self-attested PAN copy.
Address proof	Self-attested copy of the Indian address proof if available. The address proof can be any of the following: Driving licence Passport Voter ID Masked Aadhaar
Self-declaration	A self-declaration (PDF) if there is a minor mismatch in the name between the supporting documents.
Bank account proof	A bank account proof for linking with Zerodha. The proof can be any one of the following: Self-attested personalised cancelled cheque with the name printed on it. A bank statement or bank passbook copy with the bank account number, MICR, and IFSC code clearly visible.
Income proof	Income proof to trade in F&O. It can be any of the following: Bank statement for the last six months with an average balance of more than ₹10,000. The latest salary slip with gross monthly income exceeding ₹15,000. ITR acknowledgement with gross annual income exceeding ₹1,20,000. Form 16 with gross annual income exceeding ₹1,20,000. Certificate of net worth more than ₹10,00,000. Statement of demat holdings with current holdings value exceeding ₹10,000.

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