The 60-second version
Hungarian brokerage wind-down needs sell-or-transfer holdings, SZJA tax certificate from broker, OTP / Erste closure letter, and EUR SWIFT to NRE before India residency.
SZJA on gains before wire — broker issues tax summary
Hungarian depot accounts trigger SZJA on capital gains at sale — broker provides annual tax summary for NAV filing.
Sell all HUF/EUR denominated holdings before depot closure — transfer to another EU broker if retaining EU exposure.
Wire EUR proceeds to NRE; retain NAV tax certificate for Form 67 if same-FY India tax.
Austria lane: Austrian brokerage guide.
Hungarian brokerage wind-down
| Broker | Tax doc | Close step |
|---|---|---|
| OTP Trader | SZJA summary | Sell + close depot |
| Erste Trader | Annual cert | Zero holdings |
| Interactive Brokers HU | US Form 1099? | Separate US lane |
| Linked bank | HUF account | Close after depot |
| TBSZ account | Tax-advantaged | Hold period check |
Hungarian brokerage closure
Sell holdings
Liquidate stocks, bonds, ETFs.
SZJA settle
Pay or confirm withholding at broker.
Tax certificate
Download NAV/broker annual summary.
Wire EUR
SWIFT to NRE with FEMA docs.
Depot close
Broker confirms account terminated.
Wind-down flow
Hungary brokerage kit
- Trade confirms.
- SZJA cert.
- Depot closure.
- SWIFT receipt.
- Form 67 docs.
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EU residence shift
Closing HU depot before India return avoids dual-year SZJA + India CGT overlap.
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Keep EU broker?
Schedule FA if balance remains — most close HU depot.
Form 67?
Yes if same gain taxed India same FY.
HUF holdings?
Convert at sale — wire EUR for lower FX spread.
US person FBAR?
Hungarian accounts in USD 10k aggregate.
TBSZ account?
5-year hold for tax benefit — early exit taxed.
Dividend withholding?
15% HU WHT — treaty may reduce for India resident.
Your NRE account redesignation has a deadline.
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