25 years of delinquency?!

[SjM]

Thank you for the clarification, Captain. It was very helpful. I had thought that that was the case. So, although I haven’t touched any of the funds over the years, I will be reporting all of the gains (capital gains/dividends/interest) when I submit my NTA taxes.

[magu]

Hello all,

Related to this post I have a question. Can anyone recommend a good and reasonable tax accountant that can guide one through the processes and paperwork of filing taxes for overseas income?

I am a permanent resident in Japan (based in Tokyo), but maintain one investment account in Europe. Dividend income has been negligible until now, but last year I sold some stocks and need to pay my taxes for this. I am not confident enough in my Japanese to go through this myself.

Any recommendations would be very welcome.

Thanks.

[FlamingWombat]

If you are in full-time employment and they have handled all your taxes in Year End Adjustment 年末調整, and if the total overseas dividend and interest Income was less that Y200k in any year, then you do not have to pay Japan taxes in that year...

Interest Income will be taxed under the Aggregate Taxation Method at your Marginal Tax Rate - Marginal National and Reconstruction Tax. 10% Residents' Taxes.
For Dividend Income, you should opt to be taxed under the Separate Taxation Method at the Dividend Tax Rate - 15% National, 0.315% Reconstruction, and 5% Residents' Taxes.

Tkydon, or any of the other knowledgeable posters here, can I ask for clarification/advice on these points? If your dividend (etc.) income is below Y200k then you don't have to file national taxes BUT you do need to pay resident tax (right?) So, how does one do so? If one does e-tax, won't one end up paying national tax too (can you just do residents' tax there?) Also, the separate taxation method - is this one where you only declare and pay taxes on the declared dividend income (as in, it doesn't involve your salary/income tax, etc.?)

※ if it's relevant, in my case it is all dividends from American ETFs through Interactive Brokers, no taxes have been withheld, I am American, and the dividend amounts are small enough that I am not concerned about any refunds for double taxation. I am simply concerned about fulfilling my residents' tax obligations.