RetireJapan

Finally getting around to something that’s been bothering me a while now. In an SBI account, I have Apple stock spread over two accounts (and more in a NISA account after we discovered it):

米国株式（現物/特定預り）
米国株式（現物/一般預り）

I know some years back I transferred stock from SMBC but why two taxable accounts I have no idea.

In both, the US 10% tax and J 20.315% is being withheld on dividends (haven’t sold any so no idea what is withheld on sales).

As I understand it, a Tokutei a/c reports tax and can be either withheld or not, while Ippan leaves you to do the reporting/paying.

So presumably my 特定預り account is what the retirewiki calls 特定口座 源泉徴収あり (tax withheld). But why does the 一般預り withhold tax? Is it holding tax but not reporting it? As I said, US and J tax is being withheld on dividends in *both* accounts.

My wife’s friend does all our tax and she’s never asked for any stock info. Since taxes are being withheld, that doesn’t seem a problem. (In other words, I have no idea about reporting.)

Can someone tell me what accounts I have exactly and if I should move stock from one to the other (if it’s possible)?

I looked into this when the IBM stock split transferred my stocks from Tokutei to Ippan. Basically if you've applied for a withholding account (or some kind of option like it), dividends are automatically withheld by your broker (I only looked at Rakuten, SBI and Monex) regardless of where your stocks are placed.

https://www.sbisec.co.jp/ETGate/WPLETmg ... ei_fo.html
配当金に係る税率
租税条約により定められた源泉徴収税率※、および日本での源泉徴収税を差し引いた金額がお客さまの口座に入金されます。

That's dividends, but if I actually sell stocks from the 米国株式（現物/一般預り）account, no tax will be withheld? If so, I should move to the 米国株式（現物/特定預り）account for an easy life?

Edit: I checked and in my case, too, the shares in the Ippan a/c were from a stock split. No idea why they do that.

banders wrote: ↑Tue Jan 25, 2022 8:40 am That's dividends, but if I actually sell stocks from the 米国株式（現物/一般預り）account, no tax will be withheld? If so, I should move to the 米国株式（現物/特定預り）account for an easy life?

Edit: I checked and in my case, too, the shares in the Ippan a/c were from a stock split. No idea why they do that.

Yes, you will need to file taxes on your own for capital gains in the ippan account and no tax will be withheld. I don’t think there is a way to move them directly and the only way would be to sell in one account and then buy again in the other account.

banders wrote: ↑Tue Jan 25, 2022 5:52 am In both, the US 10% tax and J 20.315% is being withheld on dividends (haven’t sold any so no idea what is withheld on sales).

You will find that the 20.315% is on the 90% after the US 10% tax has been withheld, so actually 18.2835%... So, total 28.2835%

You have to file a Kakutei Shinkoku if you want to claim the flat 20.315%. (15% National, 0.315% Reconstruction, and 5% Residents' Taxes)

Report the Dividend Income Gross under the Separate Taxation Method - Form B - Pages 1&2 And Page 3
The Japanese Taxes will be adjusted up to 20.315% on the Gross
Claim the US 10% tax as Foreign Tax Credit - Form B - Page 1 - Item 46

You will then get the credit (refund) of the US 10% tax from the Japanese National Tax.

You should be able to go back 3 years, if the 7.9685% amount is worth the trouble.

Thanks for that! It works out about ¥6,000 per year so don't think I'll bother.