The 60-second version
Timor-Leste bank exit needs zero balance NOC, USD SWIFT to NRE, and written closure — petroleum payroll is USD-denominated; pair with Timor tax guide.
USD is functional currency — wire before RDTL clearance letter expires at branch
BNU, Mandiri Timor-Leste, and ANZ serve Dili expats — obtain closure NOC after final Bayu-Undan or humanitarian payroll credit.
Timor uses USD — SWIFT to NRE is straightforward; retain Revenue Service clearance for overlap-year Form 67.
Brokerage lane: Timor securities guide if custody held.
Timor bank wind-down
| Bank | Currency | Step |
|---|---|---|
| BNU | USD | Written closure |
| Mandiri TL | USD | Zero balance |
| ANZ TL | USD | NOC letter |
| NRE | INR/USD | SWIFT FIRC |
Closure
Securities zero
Close custody if any.
Final payroll
Wait for USD credit.
RDTL cert
Tax clearance copy.
SWIFT NRE
AD bank Form A2.
Schedule FA
Last FY account.
Flow
Timor bank kit
- Passport.
- Account stmt.
- Closure NOC.
- SWIFT.
- Employer settlement.
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Oil-sector contract
Petroleum payroll may pay via Singapore correspondent — verify which account received final bonus.
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FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
Stock exchange?
No formal exchange — see Timor brokerage guide for custody accounts.
Schedule FA?
Declare USD account in last FY held.
Indonesia hub?
Indonesia bank guide if salary transited Jakarta.
Form 67?
If overlap-year RDTL withholding and India tax on same income.
AUD parallel?
Australia tax guide if also held Australian super from Timor contract.
Your NRE account redesignation has a deadline.
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