Aside from submitting the little postcards I get from my earthquake insurance company and the iDeCo people to my company's HR department, do I need to do anything else? Specifically, I have a tsumitate-NISA; do I have to declare this on the forms somewhere and provide proof or something?
Thanks.
p.s. I am unmarried and have no kids (so no life insurance) so the forms are usually super easy to fill out. Just that this year I am concerned about the whole tsumitate-NISA element.
Nenmatsu Chosei (Year-end adjustment)
- Roger Van Zant
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Re: Nenmatsu Chosei (Year-end adjustment)
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新NISA (SBI) eMaxis Slim All Country ✓
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UK pension (Class 2 payer) ✓
Re: Nenmatsu Chosei (Year-end adjustment)
My understanding is that in this situation you can still submit the nenmatsu chosei documents to your employer as normal. However, in the first year you cannot get the deduction for the housing loan as part of the nenmatsu chosei because you do not yet have the necessary documents, so you have to omit that from the nenmatsuchosei form and then apply separately at a later date. By the time you apply for the refund for the housing loan you should have received your 源泉徴収票 from work, which should make the tax return paperwork simpler.
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Re: Nenmatsu Chosei (Year-end adjustment)
Nope, assets in a NISA account basically don't exist for tax-reporting purposesRoger Van Zant wrote: ↑Thu Nov 04, 2021 12:56 am Specifically, I have a tsumitate-NISA; do I have to declare this on the forms somewhere and provide proof or something?
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eMaxis Slim Shady
eMaxis Slim Shady
- Roger Van Zant
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Re: Nenmatsu Chosei (Year-end adjustment)
Good to know! Thanks.RetireJapan wrote: ↑Thu Nov 04, 2021 1:53 amNope, assets in a NISA account basically don't exist for tax-reporting purposesRoger Van Zant wrote: ↑Thu Nov 04, 2021 12:56 am Specifically, I have a tsumitate-NISA; do I have to declare this on the forms somewhere and provide proof or something?
Investments:
Company DB scheme ✓
iDeCo (Monex) eMaxis Slim All Country ✓
新NISA (SBI) eMaxis Slim All Country ✓
Japanese pension (kosei nenkin) ✓
UK pension (Class 2 payer) ✓
Company DB scheme ✓
iDeCo (Monex) eMaxis Slim All Country ✓
新NISA (SBI) eMaxis Slim All Country ✓
Japanese pension (kosei nenkin) ✓
UK pension (Class 2 payer) ✓
Re: Nenmatsu Chosei (Year-end adjustment)
Thank you Retire Japan for that reply.
To give you an update: My company's HR department said the same thing today. I had asked them earlier in the week but they answered about not needing to mention paying taxes on PROFITS (they thought I had sold stocks).
I got back to them and asked about DIVIDENDS and they again said, 'no need to mention it if already taxed'. To be clear I asked if I should write ZERO in that box, they said 'yes'.
So this is a nice benefit from having those 'special accounts'. But it is a benefit I was already sure I had and never thought about until this e-tax filing.
Regards
To give you an update: My company's HR department said the same thing today. I had asked them earlier in the week but they answered about not needing to mention paying taxes on PROFITS (they thought I had sold stocks).
I got back to them and asked about DIVIDENDS and they again said, 'no need to mention it if already taxed'. To be clear I asked if I should write ZERO in that box, they said 'yes'.
So this is a nice benefit from having those 'special accounts'. But it is a benefit I was already sure I had and never thought about until this e-tax filing.
Regards
Re: Nenmatsu Chosei (Year-end adjustment)
Good to hear. I honestly wasn't quite sure how it'd work.taneandy wrote: ↑Thu Nov 04, 2021 1:22 am My understanding is that in this situation you can still submit the nenmatsu chosei documents to your employer as normal. However, in the first year you cannot get the deduction for the housing loan as part of the nenmatsu chosei because you do not yet have the necessary documents, so you have to omit that from the nenmatsuchosei form and then apply separately at a later date. By the time you apply for the refund for the housing loan you should have received your 源泉徴収票 from work, which should make the tax return paperwork simpler.