Simple Q&A - NISA

[Teflon]

It depends on what type of security you are talking about.

Ah, I should have mentioned that I'm American so my NISA only contains individual domestic stocks. I figured the unrealized gains/losses would be finalized after the TSE closes for the day but it seems there are some other factors in play.

[adamu]

was looking for info on here about the currency trading they offer on here-there doesnt seem to be any ?can you point me in the right direction?

https://retirewiki.jp/wiki/Currency_conversion

@Gareth sorry don't know, but your post made me realise nobody had replied to bryanc.

Hi adamu,

I just checked your retirewiki link on currency conversion. It says "Sumishin SBI Net bank has a cheaper rate of 0.04 yen per dollar, but you have to manually transfer the USD between the bank and the broker, which takes time."

I couldn't find this information on Sumishin SBI Net bank's site. How to confirm this?

The fees are listed here: https://www.netbk.co.jp/contents/lineup ... su/kawase/

I've added that link to the article now, thanks.

[Bubblegun]

Simple Question.


1)Do we need to reapply for the NISA/Junior NISA each year? or Will this automatically ROLL OVER?
My feeling is it will roll over. ( but this is japan)
I'd really like to think it could be a set and forget thing.

Can I pay more into the kids NISA any time? by just sending money to it via the bridging account, and then it'll automatically go into the NISA EMaxi fund or will they just take the monthly 5000 yen each month?

[Kanto]

Simple Question.


Do we need to reapply for the NISA/Junior NISA each year? or Will this automatically ROLL OVER?

My feeling is it will roll over. ( but this is japan)
I'd really like to think it could be a set and forget thing.

After 5 years you need to roll over the NISA yourself. You need to do it by December of the last year. It can be a bit complex.

The J-Nisa can also be rolled over, but as it is being cancelled I believe it will remain tax-free after 2023.

[Bubblegun]

Simple Question.


Do we need to reapply for the NISA/Junior NISA each year? or Will this automatically ROLL OVER?

My feeling is it will roll over. ( but this is japan)
I'd really like to think it could be a set and forget thing.

After 5 years you need to roll over the NISA yourself. You need to do it by December of the last year. It can be a bit complex.

The J-Nisa can also be rolled over, but as it is being cancelled I believe it will remain tax-free after 2023.

Thanks Kanto. Thats what I thought.( headaches in 5 years then)
BTW Sorry I added a second question above. Do you know anything about that?

I wonder why they're getting rid of the junior NISA? Maybe just replace it with a basic bog standard NISA for kids.

[Kanto]

Simple Question.


Do we need to reapply for the NISA/Junior NISA each year? or Will this automatically ROLL OVER?

My feeling is it will roll over. ( but this is japan)
I'd really like to think it could be a set and forget thing.

After 5 years you need to roll over the NISA yourself. You need to do it by December of the last year. It can be a bit complex.

The J-Nisa can also be rolled over, but as it is being cancelled I believe it will remain tax-free after 2023.

Thanks Kanto. Thats what I thought.( headaches in 5 years then)
BTW Sorry I added a second question above. Do you know anything about that?

I wonder why they're getting rid of the junior NISA? Maybe just replace it with a basic bog standard NISA for kids.

There are only about 200,000 active J-Nisa accounts.

1. Most people do not fill up their NISAs or their spouse's NISA, making the account moot.

2. It is a bit confusing to get running.

3. The marketplace is full of terrible insurance-saving schemes that parents think are a safer bet.

4. The money is locked away, and cannot be used for JH/SH fees.

[Moggy_the_cat]

Hi,

This is my first post on this forum and I'd like to ask a dumb question:

When applying for a NISA account (either Monex or Rakuten in my case), must I provide a Japanese driver's license? I'm following the NISA guide written by Ben (page 66).

I ask because I don't need a car here in Tokyo, thus the lack of said driver's license.

Thanks in advance!

[RetireJapan]

Hi,

This is my first post on this forum and I'd like to ask a dumb question:

When applying for a NISA account (either Monex or Rakuten in my case), must I provide a Japanese driver's license? I'm following the NISA guide written by Ben (page 66).

I ask because I don't need a car here in Tokyo, thus the lack of said driver's license.

Thanks in advance!

Sorry for the confusion! Nowadays you'll need your My Number card (or the paper version, unless your address has changed since it was issued), or a printout of your jyuuminhyou. They might want a zairyu card too (for photo ID/visa duration purposes). It depends on the institution to a certain extent.

[zeroshiki]

Rakuten needs 2 IDs one of them being the MyNumber card (they accept the paper notice which Rakuten Bank for some reason doesn't)

[Kanto]

Rakuten needs 2 IDs one of them being the MyNumber card (they accept the paper notice which Rakuten Bank for some reason doesn't)

I believe paper my number cards will be completely phased out soon. At this point, you can not update your address on the paper cards, and I believe they will stop being valid at a certain date in the future.

I have been meaning to collect mine from city hall for 4 months now...