tax number in Japan vs secrecy of MY NUMBER

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onyourmark2021
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tax number in Japan vs secrecy of MY NUMBER

Post by onyourmark2021 »

I am filling out a W9 Tax form for the USA. They ask for a FTIN or TIN number. I think this would be "My Number" here in Japan. I am a resident of Japan but a US citizen. I have heard that we should keep our "My Number" information secret
"This number should be kept somewhere safe as it will be necessary for a number of administrative procedures in future. Your individual number should be kept secret and not shown to others except when requested by relevant agencies or for identification purposes."
from:
https://expatsguide.jp/articles/feature ... d-to-know/

Is it OK to disclose this on the W9 form? Or is there some other number I can use?
Anyone know?
Teflon
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by Teflon »

onyourmark2021 wrote: Thu Sep 23, 2021 4:37 am
Since you are a US citizen, you would use your Social Security Number on your W9 form. The IRS is not interested in your Japanese My Number. You mentioned FTIN or Foreign Tax Identification Number which is used for form W8, not form W9. US citizens cannot fill out form W8.
onyourmark2021
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by onyourmark2021 »

Great thanks for this clarification. I read that I needed to fill out the W9 but only W8 was included in the docusign doc and I didn't pay attention. I have written to the company for assistance. Thanks again!
Tkydon
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by Tkydon »

The Secrecy issue; You should not disclose your 'My Number' to anyone who might use it for Identity Theft, in the same way that you not disclose your American Social Security Number to anyone who might use it for Identity Theft.

However, the same as the American Social Security Number, you would (have to) disclose it to Financial Institutions and other legitimate agents for Tax Identification purposes.
:
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:

https://zaik.jp/books/472-4

The Publisher is not planning to publish an update for '23 Tax Season.
TJKansai
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by TJKansai »

onyourmark2021 wrote: Thu Sep 23, 2021 4:37 am I am filling out a W9 Tax form for the USA. They ask for a FTIN or TIN number. I think this would be "My Number" here in Japan. I am a resident of Japan but a US citizen. I have heard that we should keep our "My Number" information secret
"This number should be kept somewhere safe as it will be necessary for a number of administrative procedures in future. Your individual number should be kept secret and not shown to others except when requested by relevant agencies or for identification purposes."
from:
https://expatsguide.jp/articles/feature ... d-to-know/

Is it OK to disclose this on the W9 form? Or is there some other number I can use?
Anyone know?
I take it the W9 is for US earned income, right? You do not need a W9 of income earned overseas.
TokyoWart
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by TokyoWart »

I take it the W9 is for US earned income, right? You do not need a W9 of income earned overseas.
W9 is used for all kinds of investment income and even (taxable) cancellation of debt. W2 forms are for earned income. If I recall correctly my Japanese brokerage firms all asked for W9 forms when I opened accounts because they need it for their FATCA compliance.
onyourmark2021
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by onyourmark2021 »

Right, it is from income earned in the US.
TokyoWart
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Re: tax number in Japan vs secrecy of MY NUMBER

Post by TokyoWart »

onyourmark2021 wrote: Fri Sep 24, 2021 6:50 am Right, it is from income earned in the US.
It is not limited to US sources of the income it reports and it will often not be "earned" income. It is a requirement of the institution you are working with (usually a brokerage firm or bank but if you are a contractor instead of an employee you could have income reported on a 1099) to get a W9 to collect your TIN or SS# so they can report income paid to you to the IRS.

"Purpose of Form
An individual or entity (Form W-9 requester) who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) which may be your social security number (SSN), individual taxpayer identification number (ITIN), adoption taxpayer identification number (ATIN), or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return."

https://www.irs.gov/pub/irs-pdf/fw9.pdf
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