IDECO Postcard and Year End Tax adjustment

concerned
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IDECO Postcard and Year End Tax adjustment

Post by concerned »

Hi All
I have IDECO with SBI, and have still not received the postcard outlining my IDECO deductions for the year, which I use for my end of year tax adjustments. I checked previous years ones, and I should have received this about a week ago... Just wondering have others on the forum already received theirs?
Thanks
Beaglehound
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Re: IDECO Postcard and Year End Tax adjustment

Post by Beaglehound »

Also with SBI. Not yet.
beanhead
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Re: IDECO Postcard and Year End Tax adjustment

Post by beanhead »

Rakuten here. Didn't get mine either. Though I have a fabulous insurance company 'pension' product and I got theirs today ;)
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
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adamu
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Re: IDECO Postcard and Year End Tax adjustment

Post by adamu »

https://go.sbisec.co.jp/prd/ideco/news_241015.html

Looks like they sent them yesterday, and you can also get it on MyNa Portal.
concerned
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Re: IDECO Postcard and Year End Tax adjustment

Post by concerned »

Thanks! all for the replies, also good to know will be available at MyNa Portal.
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adamu
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Re: IDECO Postcard and Year End Tax adjustment

Post by adamu »

Mine arrived today. SBI.
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CluelessToshika
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Re: IDECO Postcard and Year End Tax adjustment

Post by CluelessToshika »

Yup, my SBI one arrived today as well.
beanhead
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Re: IDECO Postcard and Year End Tax adjustment

Post by beanhead »

Got mine today too. Rakuten.
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
Wales4rugbyWC23
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Re: IDECO Postcard and Year End Tax adjustment

Post by Wales4rugbyWC23 »

I got mine yesterday. I don't understand why they don't send it at the end of the year. I only submit my tax return in February.
Tkydon
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Re: IDECO Postcard and Year End Tax adjustment

Post by Tkydon »

Wales4rugbyWC23 wrote: Mon Oct 28, 2024 11:41 pm I got mine yesterday. I don't understand why they don't send it at the end of the year. I only submit my tax return in February.
There are two times when taxes can be submitted:

1. If you have no special Deductions or Allowances, or no taxable income that is not taxed through withholding, either employment income or investment income in a Tokutei Account, then your employer can complete the Year End Adjustment - Nenmatsu Chosei - and you do not need to submit a Tax Return - Kakutei Shinkoku.
People relying on Nenmatsu Chosei to complete their taxes need to submit the forms and postcards to the employer by the cut-off date in November in order to meet the deadline so that the employer can adjust the tax in the December Paycheck.
The vast majority of tax payers do not need to file a Tax Return - Kakutei Shinkoku.

2. If you have special Deductions or Allowances, or taxable income that is not taxed through withholding, investment income in a Regular Account, Capital Gains, etc., then you can't use the Year End Adjustment - Nenmatsu Chosei - and you need to submit a Tax Return - Kakutei Shinkoku.

The companies sending postcards do not know if you will use Nenmatsu Chosei or Kakutei Shinkoku, so they assume Nenmatsu Chosei and send the postcards out accordingly.
:
:
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.
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