NISA accounts opened in 2023 will rollover into New NISA in 2024?

[Owly]

Hi all,

I am a relative novice when it comes to this stuff. Am I reading this correctly?

This article on the Rakuten Securities seems to me to indicate that if you open a NISA account in 2023, a new NISA account will be opened automatically for you in 2024 and the investment will rollover. Plus the amount invested will not eat into the tax exemption limit for New NISA.

https://www.rakuten-sec.co.jp/web/nisa/ ... atop#point

The pink 要チェック box a little way down says:

2023年のNISA投資限度額（一般NISA120万円・つみたてNISA40万円）を使って購入した商品は、2024年からの”新しいNISA”における最大非課税限度額（1,800万円）には含まれません。

なお、2023年のうちにNISA口座を開設すると、2024年からの新NISA口座は自動的に開設されます。
また、2023年にNISA口座で積立を開始すれば、新NISA口座にも積立設定を引き継ぎます。

新NISA口座で対象外の銘柄は除く

Would this still apply if I closed my current NISA account and opened a new one with Rakuten in 2023?

[TokyoBoglehead]

No, there are no more rollovers after 2023. You can only use this years allowance to rollover.

The new system is entirely separate and starts next year. There is only one account type.

Rakuten will automatically open an account for you without you needing to take any action.

[adamu]

If you open a NISA this year, the investments will be tax-free until the end of 2027, at which point it'll be moved to a taxable account.
If using Rakuten, you will also automatically get a New (empty) NISA account for use from next year, subject to the new rules - the money you invest this year will be unaffected.

[Bubblegun]

So does this mean, we have to actually go throught the process of opening a NEW NISA for 2024, rather than Rakuten automatically opening a. new account for those of us that have a legacy NISA?

[beanhead]

So does this mean, we have to actually go throught the process of opening a NEW NISA for 2024, rather than Rakuten automatically opening a. new account for those of us that have a legacy NISA?

No, if you do nothing you will get a new empty 2024 NISA opened in December.

[Bubblegun]

So does this mean, we have to actually go throught the process of opening a NEW NISA for 2024, rather than Rakuten automatically opening a. new account for those of us that have a legacy NISA?

No, if you do nothing you will get a new empty 2024 NISA opened in December.

Thank you for that. Nice and simple.

[sytyue]

Sorry to barge in on the conversation, but I was wondering if SBI will also be opening a new NISA account if I am using them for my tsumitate NISA right now?

Thanks in advance.

[zeroshiki]

Directly from SBI

https://www.sbisec.co.jp/ETGate/WPLETmg ... 28_01.html

2023年中に一般NISA、つみたてNISA口座をお持ちのお客さまは、諸手続きなしで自動的に新しいNISA口座が2024年に開設されます。

2024年以降に新しいNISA口座を開設される場合の手続き方法は現在調整中となりますので、SBI証券のホームページにて随時ご案内いたします。

No, the new NISA account will be automatically created in 2024 if you had a NISA account of any kind with them in 2023.

[Naka2000]

I am very new to investing in Japan.

I have a legacy general NISA opened in 2023 with 1.2 million yen and I expect that Rakuten will automatically open a new NISA account for me.

Does that mean that both accounts will be open in 2024? Can I continue contributing to both? For example once the new NISA investment limit has been achieved I could then add new funds to the legacy account? Or is the legacy account no longer open to new investments?

Thank you!

[TokyoWart]

I am very new to investing in Japan.

I have a legacy general NISA opened in 2023 with 1.2 million yen and I expect that Rakuten will automatically open a new NISA account for me.

Does that mean that both accounts will be open in 2024? Can I continue contributing to both? For example once the new NISA investment limit has been achieved I could then add new funds to the legacy account? Or is the legacy account no longer open to new investments?

Thank you!

No new investment will be allowed in a legacy NISA. You also will not be able to rollover the investments after 5 years as was possible in the legacy system so the investments you made in 2023 will mature and automatically move to your taxable account after 5 years. (At least this is how Nomura explained the situation to me when I met with them about this a few weeks ago.)