The 60-second version
Lithuanian bank wind-down needs zero balance, Swedbank LT / SEB closure letter, corporate tax clearance if UAB involved, and EUR SWIFT to NRE.
Baltic IBAN still triggers Schedule FA until closure PDF exists
Many returnees held Swedbank LT or SEB via Lithuanian UAB for EU invoicing — India residency triggers Schedule FA and bank relationship review.
Close UAB account only after VMI tax clearance and shareholder distribution documented.
Wire EUR to NRE with SWIFT purpose code — retain closure PDF for AD bank queries.
Baltic: Estonian bank guide.
Lithuania account types
| Account | Close step | India note |
|---|---|---|
| Personal LT IBAN | Zero + email request | Wire to NRE |
| UAB business | VMI clearance first | Dividend tax in ITR |
| Revolut LT IBAN | Separate provider | Own closure rules |
| Investment LT | Sell + wire | Schedule FA |
| Payroll LT | Employer final pay | Form 67 if overlap |
Lithuanian bank close sequence
Liquidate balance
EUR to India NRE.
Tax letter
VMI no-objection if UAB involved.
Bank request
Signed closure form + passport scan.
Closure PDF
Account closed confirmation email.
Schedule FA
Disclose until fully closed FY.
Wind-down flow
Lithuanian bank kit
- IBAN statement.
- Closure email.
- SWIFT receipt.
- VMI cert if UAB.
- Passport copy.
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Revolut LT
Revolut is not Lithuanian bank closure — separate Revolut account termination.
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Keep UAB after return?
Possible but Schedule FA + Lithuanian filings continue.
Form 15CB?
Typically not for EUR from own LT account to NRE — bank confirms.
SEB vs Swedbank?
Same wind-down pattern — separate closure requests.
Multi-currency?
Close each currency pocket to zero first.
FBAR?
US persons — LT accounts in aggregate USD 10k test.
Estonian sibling?
Separate entity — see Estonian bank guide.
Your NRE account redesignation has a deadline.
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