Search found 6 matches

by ctdummy9
Sun Jul 03, 2022 1:23 pm
Forum: Taxes
Topic: Exit tax overseas pension
Replies: 11
Views: 1874

Re: Exit tax overseas pension

Just noting that this thread ( https://www.reddit.com/r/JapanFinance/comments/nmugxx/where_i_should_i_put_my_money_usa_or_japan/ ) on reddit (comment from starkimpossibility) seems to conclude that a US 401k (I assume also applies to a Roth or Trad IRA as well) ARE reportable on the OAR. Not sure if...
by ctdummy9
Sat Jan 23, 2021 1:15 pm
Forum: Legacy NISA (~2023)
Topic: Junior NISA and the IRS
Replies: 22
Views: 6959

Re: Junior NISA and the IRS

Quite old thread, but the scenario discussed here is similar to mine and I'm thoroughly confused :? Me: US citizen living in Japan less than 5 years (not yet tax permanent resident) with working Visa (no PR) Wife: Japan citizen with US green card (we have extended once, need to decide whether or no...
by ctdummy9
Sat Jan 23, 2021 12:41 pm
Forum: Taxes
Topic: Tax implications of interest in a foreign bank account
Replies: 17
Views: 2932

Re: Tax implications of interest in a foreign bank account

But I just found out Japan also has a foreign earned income tax break. So the double taxation won't be so bad. Foreign earned income is just that, income from a job. Japan doesn't tax it for the first five years of residence, provided it is not remitted here. Income from investments, dividends, int...
by ctdummy9
Sat Jan 23, 2021 12:04 pm
Forum: Legacy NISA (~2023)
Topic: Junior NISA and the IRS
Replies: 22
Views: 6959

Re: Junior NISA and the IRS

Quite old thread, but the scenario discussed here is similar to mine and I'm thoroughly confused :? Me: US citizen living in Japan less than 5 years (not yet tax permanent resident) with working Visa (no PR) Wife: Japan citizen with US green card (we have extended once, need to decide whether or not...
by ctdummy9
Sat Jan 23, 2021 10:05 am
Forum: Legacy NISA (~2023)
Topic: US citizens and NISA
Replies: 33
Views: 9572

Re: US citizens and NISA

Reading this thread, it seems that a US citizen can invest in a NISA, while holding only individual Japanese stocks to avoid the PFIC taxation issues. Surely, investing in individual Japanese stocks, it will be much harder to diversify, but given the tax advantage of the NISA, it might still be a wo...
by ctdummy9
Sun Jan 17, 2021 2:15 pm
Forum: RetireJapan for Dummies
Topic: Moving Money from US to Japan
Replies: 2
Views: 499

Moving Money from US to Japan

Totally NOOB here. I've been living and working in Japan now for over 2 years, but before that working for a long time in the US, so most of my assets are in US based accounts. I have never brought money into Japan other than some small credit card spending that I do here on US based credit cards. H...