Personal Finance for Residents of Japan
https://retirejapan.com/forum/
Everything with iDeCo seems to take a long time. Patience is required.
Mine gets deducted from my bank account on the 26th of the Month. It will then appear on the iDeCo account around the 18th of the following month.
I think you need to notify them of any changes in name, address, employment etc.
Your employer must fill in the iDeCo paperwork, but they can choose not to deduct the contributions from your paycheck. There is a box on the employer form for this that says something like 'employee requested salary withholding but we are not going to do it'. You just submit the paperwork to Monex and they will take the monthly payment from your bank instead. In November or so you will get a statement from Monex to submit for your end of year tax or tax return.Moggy_the_cat wrote: ↑Thu Jul 08, 2021 1:59 am Good morning,
I have applied for an iDECO and Monex taxable account. I have received the forms and forwarded them to my company (a small one) because my boss (the company owner) agreed to deduct straight out of my pay check (he even asked me to contact another employee with an iDECO account setup via his company to ask her questions if necessary).
Today he received the forms and sent me a message saying that he refuses to set up the account for me. "We can be guarantor, but we are not planning to install iDECO as a welfare program for employees." he wrote. I thought iDECO was deducted from my paycheck and that the employer does not need to match it. His company does not have a pension plan, but I do pay 厚生年金. I politely asked why, but it is unlikely he will even answer.
So, I'd like to ask a couple of questions:
1. Can I do anything about this situation? Is his company required to do as I wish? Realistically, he is the owner of the company and who am I to argue with him?
2. Now that he refused, should I re-apply for a Monex iDECO account with updated information (i.e. my bank account details)? Or try again with SBI/Rakuten?
3. Does SBI/Rakuten have an e-Max Slim all country offering for iDECO like Monex does?
Thanks in advance for any piece of information.
Cheers!
Thank you very much for your quick reply!RetireJapan wrote: ↑Thu Jul 08, 2021 2:42 amYour employer must fill in the iDeCo paperwork, but they can choose not to deduct the contributions from your paycheck. There is a box on the employer form for this that says something like 'employee requested salary withholding but we are not going to do it'. You just submit the paperwork to Monex and they will take the monthly payment from your bank instead. In November or so you will get a statement from Monex to submit for your end of year tax or tax return.Moggy_the_cat wrote: ↑Thu Jul 08, 2021 1:59 am Good morning,
I have applied for an iDECO and Monex taxable account. I have received the forms and forwarded them to my company (a small one) because my boss (the company owner) agreed to deduct straight out of my pay check (he even asked me to contact another employee with an iDECO account setup via his company to ask her questions if necessary).
Today he received the forms and sent me a message saying that he refuses to set up the account for me. "We can be guarantor, but we are not planning to install iDECO as a welfare program for employees." he wrote. I thought iDECO was deducted from my paycheck and that the employer does not need to match it. His company does not have a pension plan, but I do pay 厚生年金. I politely asked why, but it is unlikely he will even answer.
So, I'd like to ask a couple of questions:
1. Can I do anything about this situation? Is his company required to do as I wish? Realistically, he is the owner of the company and who am I to argue with him?
2. Now that he refused, should I re-apply for a Monex iDECO account with updated information (i.e. my bank account details)? Or try again with SBI/Rakuten?
3. Does SBI/Rakuten have an e-Max Slim all country offering for iDECO like Monex does?
Thanks in advance for any piece of information.
Cheers!
Sounds like your boss doesn't really understand the iDeCo system. There is no corporate iDeCo (iDeCo stands for individual defined contribution account). They are probably referring to corporate DC (defined contribution) plans.Moggy_the_cat wrote: ↑Thu Jul 08, 2021 3:46 am Thank you very much for your quick reply!
Just got a message from the boss: "If it's corp iDECO, it all corp expense, and I can't deduct from your salary. It is fixed by lay (sic) as long as I search. So I believe in your case, you should apply private iDECO."
I guess I won't be able to enjoy the perk of having my employer deduct it for me so I wouldn't have to file the tax return. Oh well.