Name of annual savings statement in Japanese

[hachikan]

Hi everyone,

I have a very simple question here, I think. I did a simple Google search but nothing came up so I thought I asked the group.

For my US taxes, I need to submit an annual savings statement from my bank. What do you call this in Japanese?

Also, something tells me it will not be as simple as just showing up to the bank and asking for this. I guess I’ll need my hanko and bank book. Is there anything else that you think I’ll need?

Thanks in advance for any pointers you can provide!

[zeroshiki]

Not sure what exactly you're looking for but I know banks can release a 残高証明書 zandaka shoumei sho which translates to "certificate of balance". It's on the bank letterhead and gives your name and current status of your account and how much is in it on X date.
Most banks will do this if you go to a branch but it costs money (SMBC has it as 800 yen) and you might have to wait a week before it gets mailed to you (depending on the bank).

[TokyoBoglehead]

Japan does have something like this, I think they are often used in court cases and for inheritance purposes.

Here is a Yucho link -

「残高証明書（口座残高を証明する書面）」

https://www.jp-bank.japanpost.jp/tetuzu ... issue.html

[captainspoke]

...
For my US taxes, I need to submit an annual savings statement from my bank. What do you call this in Japanese?
...

(As a US tax filer) I've never, ever heard of this--is there something I've been missing all these years?

[adamu]

There is the 特定口座年間取引報告書 used when filling Japanese taxes, but as the name implies that only covers the Tokutei Kouza.

[hachikan]

Thanks everyone for your replies.

Regarding the question of whether this statement is needed for US tax filing, it is my understanding that it is needed when you back file taxes. For example, if you forgot to file for a couple years and then you retroactively file for those years. In such cases, you submit the FBAR form where you are to report the balance in your savings if it was more than $10,000.

This link explains about FBAR:

https://www.irs.gov/businesses/small-bu ... ounts-fbar

Hope this helps!

[ClearAsMud]

It still isn't quite clear what sort of statement you want or what tax purpose would be satisfied by obtaining one. You also seem to be conflating the FBAR with a regular income-tax return.

The FBAR isn't a tax form at all but an information form that can only be filed electronically, with FinCEN and not the IRS. There is nothing to be sent separately, even when back-filing. Among other items, you only need to report the highest amount in the relevant account during the year, and you can use any reasonable method to estimate that amount. Here's what the line instructions actually say, on page 10:

The maximum value of an account is a reasonable approximation of the greatest value of currency or nonmonetary assets in the account during the calendar year. Periodic account statements may be relied on to determine the maximum value of the account, provided that the statements fairly reflect the maximum account value during the calendar year.

In other words, as long as you can refer to some sort of documentation and provide a "reasonable approximation," you shouldn't have any problems. Concerning records, you also only actually need to keep some record of the reported amount, and a copy of the FBAR itself "can help to satisfy the record keeping requirements" (page 8). You would of course have to supply official statements if actually requested to do so, but the odds of that happening for ordinary filers are very, very small and could be dealt with at the time.

No bank statements need to be attached to a regular IRS tax return, either. As long as you can justify the bank interest you report, only that figure will appear on the return. Is there some other purpose you have in mind? Back taxes alone would not seem to require certified statements unless the IRS specifically asks for them.

If you do not receive a monthly or annual statement (and in Japan you won't unless you specifically request your bank to provide one and they provide that service to begin with), why not just rely on your transaction records to estimate the highest amount in the account during the year? These records are typically referred to as 取引明細 or 取引履歴, and official certification of such records (if you really need it) would be 取引明細証明書 or something similar (Rakuten Bank actually uses 取引履歴明細証明書).

TL;DR: A photocopy of passbook pages or a printout of your online records should do just fine for most purposes, I would think.

[TokyoWart]

Thanks everyone for your replies.

Regarding the question of whether this statement is needed for US tax filing, it is my understanding that it is needed when you back file taxes. For example, if you forgot to file for a couple years and then you retroactively file for those years. In such cases, you submit the FBAR form where you are to report the balance in your savings if it was more than $10,000.

This link explains about FBAR:

https://www.irs.gov/businesses/small-bu ... ounts-fbar

Hope this helps!

The FBAR is not asking for an "annual savings statement". The FBAR requires you to report the maximum value of each foreign account you held during a calendar year if your aggregate total foreign accounts exceed $10,000 at any point in the year. Japanese banks cannot tell you the maximum account value you had during the year because the one requirement Japan has for reporting asset values is based on the December 31st value of account balances. For the FBAR you have the option to report that maximum account value is unknown (it is one of the checkbox choices on the form) or it is reasonable to make an estimate based on quarterly account value statements. Don't underestimate the importance of that FBAR filing because the failure to file penalties are extremely high even if you had no intent for tax evasion or hiding assets.

[hachikan]

Thank you, TokyoWart for your reply. It is very helpful.

A follow-up question, if you don't mind:
At my university, I have joined an automatic savings scheme, where a big chunk of my pay check goes directly into a savings account. This is separate from my normal Japanese bank. In this case, the special account is set for those working at private universities in Japan (via PMAC). I imagine that I also need to report this on the FBAR, but curious if anyone else has experience with it.

Thanks in advance!

[TokyoWart]

Thank you, TokyoWart for your reply. It is very helpful.

A follow-up question, if you don't mind:
At my university, I have joined an automatic savings scheme, where a big chunk of my pay check goes directly into a savings account. This is separate from my normal Japanese bank. In this case, the special account is set for those working at private universities in Japan (via PMAC). I imagine that I also need to report this on the FBAR, but curious if anyone else has experience with it.

Thanks in advance!

I have not experienced that myself but my understanding is that an account that you have signature authority over must be reported. Do you have such authority over that account?