US Citizen and OCI holder - What to do with old stock trading account in India?

[sshah1001]

Hi all,

I recently became US citizen and also got my OCI. I have an old DMAT account in India which I opened when I was Indian resident. I have some stocks in that account. I am not doing any trading in that account anymore.

Similarly, I have some mutual funds as well.

I am wondering what do I have to do now with them?

Can someone please advice?

Thanks in advance.

 

[nkm-oct23]

If you plan to operate DMAT account in future, you will have to designate them as NRI accounts. If not, you can sell off all holdings.

FYI you became an NRI once you became resident in US. Getting US citizenship and OCI does not change your NRI status for financial purposes.