The 60-second version
Iranian bank exit needs zero balance certificate, sanctions-aware SWIFT routing, and documented closure before India tax residency. I retain bank letters for Schedule FA and verify NRE inbound corridor.
Verify SWIFT corridor before IRR conversion — sanctions routing changes frequently
Iranian banks require in-branch closure with passport and national ID — obtain zero balance certificate in English for India records.
Outbound SWIFT to India may route through limited correspondent banks — confirm with branch manager before selling IRR holdings.
Tax exit: Iran return guide for Tehran payroll and tax clearance parallel.
Iranian bank wind-down
| Bank | Currency | Step |
|---|---|---|
| Bank Melli | IRR/USD | Zero + close |
| Bank Mellat | IRR | Convert if allowed |
| Tejarat | IRR | Branch visit |
| SWIFT | Corridor | Verify first |
Closure
Verify SWIFT
India corridor open.
Convert IRR
If outbound permitted.
Wire
SWIFT to NRE if route open.
Closure letter
Zero balance cert.
Schedule FA
Last FY foreign account.
Flow
Iran bank kit
- Passport.
- National ID.
- Zero balance cert.
- SWIFT receipt.
- Closure letter.
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Sanctions corridor
SWIFT to India from Iran may be blocked — start exit 90+ days early and keep written bank confirmation of closure.
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SWIFT blocked?
Use documented closure letter — declare last FY balance in Schedule FA even if wire delayed.
Schedule FA?
Declare account in last FY you held foreign bank.
FBAR?
US person — FinCEN 114 if aggregate > USD 10K including Iranian accounts.
IRR only?
Some banks hold USD — wire USD to NRE if corridor open.
Joint account?
Both holders sign closure — or remove co-holder first.
Iraq neighbour?
Iraq bank guide for Baghdad parallel account.
Your NRE account redesignation has a deadline.
Banks don't remind you. You need the right account stack before salary, rent, and EMIs start moving. Get the exact sequence.