Certain aspects of the present disclosure provide techniques for rate matching PDSCH around NZP CSI RS transmissions in multi-TRP scenarios. In some cases, a network entity may signal a rate matching behavior to a user equipment (UE) for processing a physical downlink shared channel (PDSCH) configured with a first quasi co-location association and transmitted from a first transmission reception point (TRP) that potentially collides with one or more types of non-zero power (NZP) reference signals (RS) configured with a second quasi co-location association and transmitted from a second TRP using one or more resource sets.