You must submit PNB Form A2 if you are sending money abroad from Punjab National Bank (PNB). It is a mandatory document required by the Reserve Bank of India (RBI). This form ensures that your international money transfer complies with RBI guidelines under the Foreign Exchange Management Act (FEMA), preventing unauthorized transactions.
Whether you’re paying tuition fees, sending maintenance money to a family member, or making other permissible transactions, completing the PNB Form A2 accurately is key to a smooth transfer process. In this guide, we will break down the purpose, eligibility, and step-by-step process of filling out and submitting PNB Form A2.
Table of contents
What is PNB Form A2?
PNB Form A2 is an official declaration form required for outward remittances beyond a specified threshold. As per RBI regulations, individuals and entities must declare the purpose of their remittance to ensure it aligns with the prescribed rules.
The form is widely used for:
- Tuition fee payments for students studying abroad
- Foreign investments and business payments
- Travel and medical expenses
- Personal remittances, including family maintenance
Who Needs to Fill PNB Form A2?
Anyone who intends to send money abroad through Punjab National Bank must complete Form A2 application for remittance abroad if the remittance exceeds USD 250,000 (or its equivalent in other currencies). This applies to:
- Indian students paying tuition fees overseas
- Individuals sending money for medical treatment abroad
- Business entities making international transactions
- Travelers purchasing foreign exchange beyond the basic travel quota
How to Fill Out PNB Form A2?
When filling out PNB Form A2, you must enter the applicant’s details, remittance information, beneficiary details, and attach supporting documents. It must be then signed stating that the PNB international money transfers comply with the RBI guidelines.
It is crucial to ensure that all the information is correct so that your international remittance is processed smoothly without delays. Check out the steps to fill out PNB Form A2 below-
Section A: Details of the Applicant
In this section of PNB Form A2, you need to enter the applicant’s details.
- Name of the Applicant – Enter your full name as per bank records.
- Applicant’s Customer ID – Enter your Customer ID.
- Applicant’s Account Number – Enter your Account Number.
- Address – Provide your complete residential address.
- Applicant Email ID and Contact Number – Fill in a valid email ID and mobile number.
- PAN Number (Mandatory) – Enter your 10-digit Permanent Account Number (PAN).
Section B: Details of Foreign Exchange Drawl, Mode, Purpose and Source of Funds
In this section of PNB Form A2, you must provide the details of foreign exchange transactions, the amount of funds to be transferred, the mode and purpose of remittance, and the source of funds.
B(1) Mode of Remittance
You need to tick the appropriate box for the mode of remittance:
- Telegraphic Transfer (TT)
- Demand Draft (DD)
- Foreign Currency Notes (CN)
B(2) Foreign Currency or INR Amount
You must fill out either of the following:
- B(2a) – Enter the amount in Foreign Currency (FC) in both figures and words.
- B(2b) – Enter the equivalent INR amount (if sending a fixed rupee amount).
Make sure that the amount is under the limits and conditions of the Form A2.
B(3) Purpose of Remittance
You can refer to the Appendix and enter the purpose code for remittance abroad. Then enter the following details:
- Purpose Group
- Purpose Code
- Indicate if the remittance falls under the Liberalized Remittance Scheme (LRS) (Yes/No).
- Provide a detailed description of the remittance purpose.
B(4) Country Code
If the remittance falls under certain categories (e.g., 02, 03, 05, etc.), enter the country code where the ultimate service is provided.
B(5) Source of Funds
Specify the source of funds for the remittance, such as:
- Savings
- Salary
- Business income
- Loan proceeds
- (Provide details if required.)
Section C: Beneficiary Details
This section in PNB Form A2 must include the details of the beneficiary. For Telegraphic Transfers (TT), provide:
- Beneficiary Name – Full name of the recipient.
- Beneficiary Address – Complete address of the recipient.
- Beneficiary Bank Details – Enter the following details:
– Bank Name and Branch
– Bank Account Number
– SWIFT Code (for international transactions)
– IBAN (if applicable) - Intermediary Bank Details (if applicable)
– SWIFT Code
– IBAN
– Correspondent Bank Charges
– Select who will bear the bank charges: Beneficiary (BEN), Remitter (OUR), or Sharing (SHA)
Section D: Forward Contract Details
Section D of the PNB Form A2 is applicable if the remittance is linked to a forward contract. You need to fill in:
- Forward Contract Number & Date
- Forward Contract Amount
- Amount to be Utilized for this Remittance
- Due Date of the Contract
Make sure to double-check all details before submission and attach all the supporting documents. Following this structured format ensures accurate and error-free submission of PNB Form A2 for outward remittances.
Also Read: Check out this blog to explore PNB forex and currency exchange services offered by the bank. Know the PNB Forex rates and other details.
Documents Required Along with PNB Form A2
Before submitting PNB Form A2, you must provide certain documents to validate your transaction. These documents help the bank ensure compliance with RBI regulations and verify the legitimacy of the remittance.
- A copy of PAN card (for transactions above INR 50,000)
- Identity and address proof (Aadhaar, passport, etc.)
- Bank statement or source of funds proof (for large transactions)
- Invoice or admission letter (for education remittances)
- Medical bills (for treatment abroad)
A2 Form PNB PDF Download and Online Application
If you need a digital copy of PNB Form A2, you can download the A2 form PNB PDF directly from Punjab National Bank’s official website. Alternatively, you can obtain the form by visiting your nearest branch.
To apply online, check if the A2 form PNB online application is available through PNB’s internet banking services. Online submission can make the remittance process more convenient and efficient.
Submission Process
Submitting PNB Form A2 correctly is crucial to ensure a smooth foreign exchange transaction. Following a structured approach can help avoid delays and compliance issues. Below is a step-by-step guide to the submission process:
- Visit a PNB Branch or Online Portal – Depending on the bank’s facilities, you may need to visit a physical branch or use PNB’s Internet banking services to submit the form.
- Complete the Form Accurately – Ensure all sections of PNB Form A2 are filled correctly, including personal details, remittance amount, and beneficiary details.
- Attach Supporting Documents – Gather necessary documents such as a PAN card, proof of purpose (tuition invoice, medical bill, etc.), and identity proof.
- Submit to the Bank Official – Hand over the form and documents to the bank representative for verification.
- Verification and Processing – The bank will review your submission for accuracy and compliance with RBI regulations before processing the remittance.
- Receive Confirmation – Once the transaction is approved, you will receive a confirmation of your remittance via email or SMS. You can later check the remittance status with Form A2.
Also Read: Know about PNB Multicurrency travel card for international students and travellers. Check features, limits, and charges here.
Common Mistakes to Avoid When Filling Form A2 PNB
Avoiding common mistakes while filling out PNB Form A2 is crucial to prevent delays and rejections in your remittance process. Here are some of the frequent errors applicants make and how you can avoid them:
- Entering incorrect beneficiary details – Double-check the recipient’s name, bank account number, and SWIFT code to ensure accuracy.
- Missing PAN details – For transactions above INR 50,000, PAN details are mandatory. Ensure you provide them correctly.
- Failing to provide supporting documents – Always attach the required documents such as invoices, admission letters, or medical bills to substantiate your remittance purpose.
- Not specifying the correct remittance purpose – Select the accurate category for your transaction (education, medical, investment, etc.) to comply with RBI regulations.
- Incomplete or incorrect form details – Ensure all sections of the form are duly filled with accurate and legible information to prevent processing delays. Entering incorrect beneficiary details
To sum up, PNB Form A2 is an essential document for individuals and businesses engaged in international remittances.
By ensuring accurate completion and submission, you can facilitate smooth and hassle-free foreign transactions. Always check the latest RBI regulations and consult with PNB officials for any updates on the remittance process.
If you have any queries regarding PNB Form A2, feel free to visit the nearest PNB branch or check their official website for updated guidelines. You can also drop in your comments for more details.
FAQs
PNB Form A2 is a mandatory declaration form required for outward remittances exceeding a specified limit. It ensures compliance with RBI guidelines under FEMA to prevent unauthorized transactions.
Any individual or entity remitting funds abroad through Punjab National Bank must complete PNB Form A2, especially if the amount exceeds USD 250,000 in a financial year.
You can download the A2 Form PNB PDF from Punjab National Bank’s official website or collect a physical copy from your nearest branch.
Yes, depending on PNB’s internet banking services, you may be able to use A2 Form PNB online and apply to submit the form digitally.
Required documents include a PAN card (for transactions above INR 50,000), ID proof, bank statements, and proof of remittance purposes such as invoices or admission letters.
You need to provide your details, remittance amount, beneficiary details, and purpose of remittance, and sign a declaration to comply with RBI regulations.
The purpose code for education remittances is S0305 for university fees and related expenses.
The purpose code for travel-related expenses varies:
– S0301 for business travel
– S0303 for travel for pilgrimage
– S0304 for travel for medical treatment
– S0306 for other travel including holiday trips
With PNB Form A2, you can transfer up to USD 250,000 per financial year under the Liberalized Remittance Scheme (LRS) set by the Reserve Bank of India (RBI). This limit applies to individuals for purposes like education, medical treatment, travel, and personal remittances.
You can visit your PNB branch, check your registered email/SMS for updates, or use PNB’s online banking portal to track the status of your remittance.
To learn more about education loans, the best bank accounts for students, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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