RetireJapan

Hi,
I suspect a few of us have kids approaching adult hood and we are aware that adult accounts can be open from age 20 (at this time). I was just curious about the details in terms of the exact timing to open an account.

https://www.ht-tax.or.jp/htmedia/?p=876

How they make simple things so complex is beyond me.
That whole page can be boiled down to.

• You can open an adult NISA account effective for the calendar year you turn 20 by Jan 2nd of. (Yes. Jan 2nd. Not a typo.)
  I.e. If you turn 20 on Jan 3rd or later, you'll have to wait for the following calendar year to have an adult NISA account.

• In preparation for having the account active from Jan 1st. You may start the account creation process from Oct 1st onward of the preceding year.

• From calendar 2023 onward you can open an adult NISA account from age 18 following the above rules.

Classic Japan.

Like, they made NISA to encourage people to invest, and then made it so complicated that it puts most people off

To be fair the article sums it up right at the start too:

You need to be 20 years or older on 1 Jan and be living in Japan to use a NISA for that year. You can apply the preceding year from 1 October.

...but then it goes on to explain that legally people get a year older at 24:00 the day before their birthday (AKA 00:00 the day of their birthday), so people born on 2nd January turn 20 on 1 January 24:00 thus are eligible...

I was hoping that the J-Nisa would be designed in a way that it would turn into a regular NISA when the holder turned 20 years old!

Instead, they decided just to kill, with no replacement.