Search found 14 matches

by Nattokin
Tue Nov 26, 2024 11:14 pm
Forum: Pension
Topic: WEP (US Social Security) and Japanese National Pension
Replies: 2
Views: 1282

Re: WEP (US Social Security) and Japanese National Pension

Not a similar situation since I also get a second pension in addition to national. Actually, if you get both a national (kokumin, or JNP) and a second (kosei, or EPI) Japanese pension, I believe this should still apply to you for the national part -- assuming you started receiving US Social Securit...
by Nattokin
Mon Nov 25, 2024 9:47 pm
Forum: Pension
Topic: WEP (US Social Security) and Japanese National Pension
Replies: 2
Views: 1282

WEP (US Social Security) and Japanese National Pension

My wife has been receiving US Social Security for more than 5 years, and her benefit amount has been drastically reduced by the US Windfall Elimination Provision (WEP) because she also receives some Japanese National Pension (JNP) income. I heard, however, that the WEP rule concerning JNP income was...
by Nattokin
Mon Jun 03, 2024 9:02 pm
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 3474

Re: Currency Conversion to Yen for Japanese Taxes

Thank you. This other site info could be helpful, as well. All I know is the years -- not specific dates within those years. Since I only have year-end financial statements dated 12/31 that show the yearly totals, I supposed another approach would be to treat the transactions as carried out on 12/31...
by Nattokin
Mon Jun 03, 2024 6:22 am
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 3474

Re: Currency Conversion to Yen for Japanese Taxes

Follow-up I just compared the Mitsubishi UFJ annual midrange rates and the US Fed yearly exchange rates for 2020 through 2023 (links given above), and I found their annual rates were essentially the same: 2020 2021 2022 2023 106.82 109.80 131.43 140.56 Mitsubishi UFJ 106.78 109.84 131.46 140.50 US ...
by Nattokin
Mon Jun 03, 2024 6:08 am
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 3474

Re: Currency Conversion to Yen for Japanese Taxes

Thanks both of you. This gives me something to go on.
Incidentally, that Mitsubishi UFJ site is the one I've been using for daily TTM rates, but I'd never paid attention to the average 平均 tab before.
by Nattokin
Sun Jun 02, 2024 10:18 pm
Forum: Taxes
Topic: Currency Conversion to Yen for Japanese Taxes
Replies: 8
Views: 3474

Currency Conversion to Yen for Japanese Taxes

I'm aware of Japanese Tax Law Article 57-3 《Conversion of Foreign Currency Transactions》 https://www.nta.go.jp/law/tsutatsu/kihon/shotoku/11a/01.htm , and of the need to use daily TTM rates for converting things to JPY. However, for transactions from many years past for which I now have no way of kn...
by Nattokin
Thu May 16, 2024 2:39 am
Forum: Taxes
Topic: Traditional IRA and Japanese Taxation
Replies: 0
Views: 1954

Traditional IRA and Japanese Taxation

I'm a US citizen, a permanent resident in Japan, and retired. Among my retirement investments, I have a small Traditional IRA in the US that I opened years ago while working in The States, and I funded it for just a couple of years with $7,636 I earned before moving to Japan. Converting that $7,636 ...
by Nattokin
Sat May 11, 2024 4:44 am
Forum: Taxes
Topic: Summary of taxation rights under Japan's tax treaties
Replies: 2
Views: 1196

Re: Summary of taxation rights under Japan's tax treaties

You made my day!

Thank you for posting this link.
by Nattokin
Fri May 03, 2024 11:15 pm
Forum: Taxes
Topic: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return
Replies: 36
Views: 11319

Re: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return

Thank you. I appreciate the detailed replies. Although it will take me some time to fully digest all of the above information, I now get the gist of it. It would be extremely helpful if somewhere there were a simple, concise explanation, possibly in chart form, for various types of common income (US...
by Nattokin
Tue Apr 30, 2024 10:13 am
Forum: Taxes
Topic: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return
Replies: 36
Views: 11319

Re: Japan Tax Office wants me to file Japanese tax return first before filing U.S. tax return

This just in.... I discovered the following in the technical explanation: Paragraphs 1 and 2 of Article 17 are subject to the saving clause of subparagraph 4(a) of Article 1 (General Scope). Thus, a U.S. citizen who is a resident of Japan and receives a pension, a social security payment, or an annu...