Mutual Funds That Accept US-Based NRIs (2026 List)

US-based NRIs can invest in Indian mutual funds, but only through the limited set of AMCs that have built FATCA reporting; published lists range from 4 to 16 names depending on the source and on whether the AMC accepts online or offline applications.

Why many AMCs say no to US-based NRIs

The reason is FATCA, a US law that requires financial institutions worldwide to report accounts held by US taxpayers. An Indian AMC that takes US money must build separate reporting pipelines, train compliance teams and keep filing tax disclosures in a fixed format, so many fund houses simply decline these applications at the KYC stage.

A few AMCs with larger compliance teams chose to take on that cost. Even they often set conditions: some accept only paper applications with an extra signed declaration, and some exclude certain schemes such as close-ended funds. "Accepting" therefore never means "every scheme, fully online" — confirm the mode and the scheme list with the AMC before you plan the investment.

Fund houses that accept US-based NRIs

Four published lists name 22 fund houses between them; UTI (all four lists), Sundaram and Nippon India (three each) appear most often. Treat the table as a starting shortlist, not a guarantee: AMC policies change, so confirm before you apply.

Some other sources also name HDFC (select schemes, non-repatriable only), Axis and Kotak. Those claims were not consistent across sources, so they are left out of the table; ask the AMC directly if you need one of them.

US NRI AMC checklist

Work through this list before you submit anything; an incomplete or inconsistent FATCA declaration is a common reason applications get rejected.

Account and AMC

□Hold an NRE account (fully repatriable) or an NRO account; no other account type works for NRI mutual fund investing

□Pick an AMC from the table above and confirm with it that US-based NRIs are accepted today

□Ask whether the AMC takes online or offline applications, and which schemes are open to US residents

□Check whether it needs its own supplementary FATCA declaration on top of the standard one

Documents

□PAN card

□Passport, including the address page

□Overseas address proof, such as a utility bill

□OCI card or visa page as proof of residency rights

□NRE or NRO account proof

□Passport-size photograph

□CKYC form for NRIs

□FATCA self-declaration stating your US tax status

□Form W-9 if you are a US person, and Form W-8BEN where the AMC asks for it (not mandatory under Indian law, but most AMCs require them)

Verification and first investment

□Complete in-person verification, often done by video call

□Wait for KYC validation before investing

□Invest through the AMC portal, a registrar platform, or a Power of Attorney if you need one

□Keep your KYC and FATCA details current; AMCs can block redemptions or new SIPs if they lapse

US-side tax and reporting

Getting an AMC to accept you is only half the job; US tax residents and citizens also have reporting duties at home.

PFIC rules: the IRS can treat Indian mutual funds as Passive Foreign Investment Companies, which carry complex reporting and tax treatment. Unreported PFIC holdings can attract penalties starting at $10,000 per violation, according to one NRI-advisory blog.

FBAR (FinCEN 114): required if the combined balance across your Indian financial accounts exceeds $10,000 at any point in the year.

Form 8938 (FATCA): required if Indian financial assets cross the filing threshold, which is $50,000 for a single filer in the example one source gives; thresholds differ by filing status and residence.

Speak to a US tax professional (CPA) before investing, and ask your Indian distributor to share the AMC's consolidated account statements each year for your records. This section is general information, not tax advice.

Sources and disclaimer

AMC lists compiled on 9 October 2026 from pages opened or read in search results; the Value Research list dates from August 2025, so recheck before acting.

Value Research: Can US-based NRIs invest in Indian mutual funds? (12 Aug 2025) — https://www.valueresearchonline.com/stories/225951/us-based-nris-invest-indian-mutual-funds/

Dealplexus: NRI mutual fund investment restrictions: which AMCs still accept NRI KYC in 2026 — https://www.dealplexus.com/blog/nri-mutual-fund-restrictions-kyc

Motilal Oswal: Mutual fund houses that allow USA/Canada NRIs to invest in India (Sep 2025) — https://www.motilaloswal.com/learning-centre/2025/9/mutual-fund-houses-that-allow-usa-canada-nris-to-invest-in-india

Fincash: Mutual fund houses that allow USA/Canada-based NRIs to invest in India (updated 31 May 2026) — https://www.fincash.com/l/mutual-fund-houses-that-allow-usa-canada-nris-to-invest-in-india

Business Standard on FATCA and fund houses — https://www.business-standard.com/amp/article/pti-stories/fatca-leads-mfs-to-avoid-fresh-investments-from-us-investors-115011100152_1.html

Belong on common NRI mistakes — https://getbelong.com/blog/mutual-funds/investment-mistakes/

Richify on US-based NRIs — https://www.richify.ai/in/nri/usa

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. Acceptance policies of AMCs change without notice; this article is general information, not investment or tax advice.