Are Roth IRA distribitions taxable in Japan?

[TJKansai]

I saw a number of posts regarding contributions but didn't see and anything as far as distributions.

Also, does the Roth count in your "asset declaration" to the Japanese government?

I feel like I heard from someone (or perhaps read) that overseas pensions/savings are exempt, so the answer to both questions is no, but I am not sure.

One more question along this line would be if Education IRA distributions (Coverdale or 529) are taxable by the Japanese gov.

[captainspoke]

Best would be to read up in these two threads--and the links offered within them:

https://www.reddit.com/r/JapanFinance/c ... etirement/

https://www.reddit.com/r/JapanFinance/c ... atment_as/

The one poster there "starkimpossibility" seems extremely good/credible.

**

My personal opinion, which I know is not relevant, is that US tax policies/quirks should not be expected to carry over to other countries--which is like the colonial supra citizenship but for taxes. That said, IRAs are a kind of pension account, and pensions do have broad recognition worldwide. On the other hand, an educational savings plan is not a retirement/pension account, even tho it may have "IRA" in its name.

"Also, does the Roth count in your "asset declaration" to the Japanese government?"

So here is the interesting part. I'd never expect to (never did) declare a future pension in japan on my FBAR. I'd never expect to list future SS benefits here on that asset declaration here. But then there are the IRAs--they're yours, you've contributed (invested), you direct the investment choices, and so on.

Good luck!

[TJKansai]

Thank you for the links. There is so much information there, but also a lot of speculation.

I won't have to think about it immediately, so when the time comes hopefully there will be more guidance. It may be worthwhile moving out of Japan, at least for a while, in order to cash it in, given it would be free a rare investment that is actually free of the US taxes.

[TokyoWart]

So here is the interesting part. I'd never expect to (never did) declare a future pension in japan on my FBAR. I'd never expect to list future SS benefits here on that asset declaration here. But then there are the IRAs--they're yours, you've contributed (invested), you direct the investment choices, and so on.

I agree. Although people like to think of Social Security as an asset I don't think it meets that definition (https://paulmerriman.com/social-security-asset/). In any case I have been told it isn't put on the Japanese asset declaration form. In the same way when reporting foreign assets on an FBAR we do not report the Japanese pension because it is not an asset where you can declare that you have a set sum of money. In contract my understanding is the Singapore Provident Fund does require reporting on an FBAR because it's a foreign grantor trust and you have an identifiable sum of money in your name (https://www.greenbacktaxservices.com/bl ... dent-funds).