RetireJapan

HeavyMetal wrote: ↑Tue Dec 06, 2022 1:35 am Am I right to understand that if I have NISA, and leave Japan - the ONLY choice I have is to sell all NISA assets?
No way to transfer them to another account to keep (like ordinary Monex - IB Japan, or any)?
Selling might be ok if I had gains, but if I had losses - keeping assets would have more sense in some cases, also NISA does not have to care about cap. gain tax in case of loss so they should be ok about transfer? But not sure if that's possible in any way.

Sell and Rebuy in your taxable right away. If you are leaving Japan you may not be able to keep your taxable account open fyi (deepening on your status), see your specific brokers policies.

........

For those looking to leave eventually the Golden Way was

1. NISA account with ETFs/Stocks
2. IBKR Account.

Looking to Leave?

Sell in the NISA and Buy in IBKR in the same day. Have IBKR transfer your account to the new jurisdiction.

This is my first year of NISA - I started Tsumitate Nisa for me, NISA account for my wife and two Junior NISAs for my kids.

Since we`re nearing at the end of the year, I was wondering if there is any procedure that needs to be taken for any of these accounts to keep receiving the tax benefit. The term "rollover", which I often see mentioned, is not so clear to me, so any clarification would be much appreciated.

MBK wrote: ↑Thu Dec 08, 2022 12:04 am This is my first year of NISA - I started Tsumitate Nisa for me, NISA account for my wife and two Junior NISAs for my kids.

Since we`re nearing at the end of the year, I was wondering if there is any procedure that needs to be taken for any of these accounts to keep receiving the tax benefit. The term "rollover", which I often see mentioned, is not so clear to me, so any clarification would be much appreciated.

Rollovers only apply to regular NISA after the five year period is up*.

If you don't have an 'expiring' ordinary NISA, and you don't want to change type of account etc. for 2023, you don't have to do anything. Your broker will automatically open a new NISA year of the same type for you.

(*and Junior NISA)

RetireJapan wrote: ↑Thu Dec 08, 2022 1:00 am

MBK wrote: ↑Thu Dec 08, 2022 12:04 am This is my first year of NISA - I started Tsumitate Nisa for me, NISA account for my wife and two Junior NISAs for my kids.

Since we`re nearing at the end of the year, I was wondering if there is any procedure that needs to be taken for any of these accounts to keep receiving the tax benefit. The term "rollover", which I often see mentioned, is not so clear to me, so any clarification would be much appreciated.

Rollovers only apply to regular NISA after the five year period is up*.

If you don't have an 'expiring' ordinary NISA, and you don't want to change type of account etc. for 2023, you don't have to do anything. Your broker will automatically open a new NISA year of the same type for you.

(*and Junior NISA)

Thank you for a prompt confirmation. All clear now on the rollovers. Seems I have still some deal before dealing with that.

I don`t think I have "expiring" ordinary NISA (nor was I aware that such a thing even exists), but just in case, how do I check on that? I`m using Rakuten if that helps in any way.

MBK wrote: ↑Thu Dec 08, 2022 7:15 am Thank you for a prompt confirmation. All clear now on the rollovers. Seems I have still some deal before dealing with that.

I don`t think I have "expiring" ordinary NISA (nor was I aware that such a thing even exists), but just in case, how do I check on that? I`m using Rakuten if that helps in any way.

Oh, I'm just referring to a five year old regular NISA year, ie 2018(?) is finishing this year.

Ah, I see. Got it. Thank you very much for assistance.

TokyoBoglehead wrote: ↑Tue Dec 06, 2022 2:36 am Sell and Rebuy in your taxable right away. If you are leaving Japan you may not be able to keep your taxable account open fyi (deepening on your status), see your specific brokers policies.

Thanks a lot for reply. Yes probably sell and rebuy would be the only option. Shall specify with Monex but usually they all have same rules...
One thing I wonder about is "Sell in the NISA and Buy in IBKR in the same day". I guess local broker won't be able to transfer money to IB so fast? Transfers are so slow here if it's not just same bank.
Any ideas on possible terms?

HeavyMetal wrote: ↑Tue Dec 20, 2022 9:31 pm

TokyoBoglehead wrote: ↑Tue Dec 06, 2022 2:36 am Sell and Rebuy in your taxable right away. If you are leaving Japan you may not be able to keep your taxable account open fyi (deepening on your status), see your specific brokers policies.

Thanks a lot for reply. Yes probably sell and rebuy would be the only option. Shall specify with Monex but usually they all have same rules...
One thing I wonder about is "Sell in the NISA and Buy in IBKR in the same day". I guess local broker won't be able to transfer money to IB so fast? Transfers are so slow here if it's not just same bank.
Any ideas on possible terms?

You have an emergency fund, correct?

Sell you funds, rebuy with existing cash, refund emergency cash with sale proceeds.

Do this in blocks if necessary. Keep at least a 1-2 months spending to the side just in case payments get held up, bills come due etc.

You can do this as fast or as slow as your feel necessary.

HeavyMetal wrote: ↑Tue Dec 20, 2022 9:31 pm

TokyoBoglehead wrote: ↑Tue Dec 06, 2022 2:36 am Sell and Rebuy in your taxable right away. If you are leaving Japan you may not be able to keep your taxable account open fyi (deepening on your status), see your specific brokers policies.

Thanks a lot for reply. Yes probably sell and rebuy would be the only option. Shall specify with Monex but usually they all have same rules...
One thing I wonder about is "Sell in the NISA and Buy in IBKR in the same day". I guess local broker won't be able to transfer money to IB so fast? Transfers are so slow here if it's not just same bank.
Any ideas on possible terms?

Whenever you sell, it takes 3-5 business days to Settle the transaction (depending on whether the units sold are Japanese assets or Global Assets and time of day), so you cannot access the funds until Settlement is completed. It would then take a further 3-5 business days to Settle any purchase transaction, and you would need to add another day's contigency to transfer the funds between accounts.

Hello,

I am hoping someone can help me because I've been checking almost everyday and I do not see any movement on my NISA account.

I opened my Tsumitate NISA from SBI in November and then got approved in December. Registered my credit card and picked eMaxis Slim US Equity S&P500 and Global Equity all country at 51% and 48% ratio respectively with a total of ¥33,333 monthly investment. On my credit card statement, I saw a purchase from SBI for that amount on 12/13 but until now I do not see anything on my T-NISA account. Should I be expecting some kind of a dashboard with how much money I've put in etc or do i have to wait until January to see some kind of movement. I am including a screenshot of my SBI page, hoping someone can tell me if i am doing something wrong.

Thank you and Merry Christmas/Happy Holiday!

Regards,
Styx