RetireJapan

Hi

I have been in the fortunate position to max the growth segment of Nisa out already, and I have some remaining funds, which I'm considering putting into the tokutei account.

Perhaps a silly question, but assuming I chose "tax withholding" when I set up my account, is there any further paperwork down the line I'm not aware of (e.g. kakutei shinkoku declarations). Minimising paperwork is certainly a strategic goal!

Thanks in advance for any advice!

If you have maxed out the growth segment of NISA out already, you could set a low monthly contribution for the Tsumitate Portion and make a Bonus Contribution immediately for the difference between the total of planned monthly contributions and the annual limit for the Tsumitate Portion of Y1.2M.

If you chose "tax withholding" when you set up your account, there is no further paperwork down the line if you accept the Rates of Tax Withholding and taxes withheld. If you needed to claim a different tax rate, then you would have the option to file the Kakutei Shinkoku to claim the different rates of tax, deductions, allowances, etc. to claim a tax refund if applicable.

In general, no further paperwork required.

There are rare cases where assets get moved to an ippan kouza. In that situation you might end up needing to do a tax return.

There are also situations (some of them mentioned by Tkydon above) where depending on the investments and your situation, doing a tax return would be beneficial, but it's not required.

Awesome, thanks guys!
That was basically what I thought, but I thought it better to check, rather than rushing ahead.

"Set and forget" is my preferred mantra!

Randomletters wrote: ↑Sat Jan 13, 2024 10:55 pm Awesome, thanks guys!
That was basically what I thought, but I thought it better to check, rather than rushing ahead.

"Set and forget" is my preferred mantra!

Someone after my own heart (I am profoundly lazy).

Make sure you choose the 源泉徴収あり option.