NISA, T-NISA, New NISA…

[buckbunny]

I have a general NISA ending in 2026 (i.e., started in 2022) and I'm a bit lost about what to do now, with the new NISA coming in 2024. I apologize if any of these questions have already been answered in the forum —there are so many messages and "NISA" returns hundreds of them.

1. If I switch to Tsumitate NISA at the end of 2023, would the current holdings stay tax-free for 20 years instead of 5? Rakuten shows something that looks like a big caveat, at https://www.rakuten-sec.co.jp/nisa/tsum ... count.html (see below) —it seems reinvesting mutual funds then behave like ETFs and lose their automatic + tax-free reinvesting mechanics ?

再投資型の投資信託をお持ちで、区分変更（一般NISA⇒つみたてNISA、つみたてNISA⇒一般NISA）された場合、変更した非課税口座（一般NISAやつみたてNISA）ではなく、一般口座か特定口座で再投資が行われますので、ご注意ください。

2. Will I be able to open a "New NISA" in 2024, if I already have an existing "old NISA" that's not ended yet? I don't understand how this all works —would Tsumitate NISA holders have to wait for 20 years to be able to use the new one? Or is that a completely new scheme and it's OK to have it in addition to the old thing (meaning you could have your New NISA and continuing contributing to your existing T-NISA for 20 years?

[buckbunny]

If I switch to Tsumitate NISA at the end of 2023

Or should I switch right now for 2023, would it keep my current holdings tax-free until 2042? I read it's not possible to switch to T-NISA at the end of 2023.

[TokyoBoglehead]

If I switch to Tsumitate NISA at the end of 2023

Or should I switch right now for 2023, would it keep my current holdings tax-free until 2042? I read it's not possible to switch to T-NISA at the end of 2023.

2023 is the final year of the Tsumiate/Regular/Junior system. There will be no switching or rollovers following 2023.

A 2023 Tsumitate will remain taxfree for 20 years, then be dumped into your taxable account
A 2023 Regular Nisa will remain taxfree for 5 years, then be dumped into your taxable account
A 2023 Junior Nisa will remain taxfree until your child is 18, then it will be dumped into their taxable account.

....

If you have not contributed, you should be able to switch accounts types. Rakuten's warning does not seem to exist on Monex/SBI pages, it would seemingly only apply to funds that usually pay dividends, but can be manually set to reinvest via Rakuten's interface? (Ala not Emaxis etc?)

[beanhead]

For 2023, do whatever you were planning to do before this new NISA discussion came up.

The Japanese articles seem to confirm that 'old' NISA and new NISA will be treated differently, and old NISA will not be included in the lifetime limits for new NISA either. So there will be no option to roll over anything from existing NISAs in the future.
In short, put everything you safely can into these things and leave them for as long as possible.

And don't make the mistake I did and try and get clever by picking discounted 'growth' stocks in the NISA. You will probably fail
My advice, if you want to 'gamble' is to do it in the tokutei not a NISA account.