What happens to NPS account when NRI becomes a resident?

How do I change my tax status from NRI to Resident for my NPS Account. Could you please specify the procedure how to do it?
-Haribabu Makkena

There is no required procedure for NPS to update your tax status from NRI to resident Indian. However, on becoming a resident Indian, you must inform your bank (that you have linked with your NPS account) about your change of status within a reasonable time. Non-resident Ordinary accounts have to be converted to resident savings bank account. Foreign Currency Non-Resident (FCNR) accounts can run till maturity. However, earnings in Non-resident External (NRE) savings account will have to be transferred to resident savings account or transferred to Resident Foreign Currency (RFC) account. Rest of the procedure remains the same as for resident Indian.

This article was originally published on February 28, 2017.