Vivinavi : Los Angeles : (United States) Los Angeles

• 昭和のおとっつぁん
• 2022/04/27 (Wed) 16:10
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1 ＞ I have no income. How did you manage your living expenses?

4 ＞ Since your nationality is Japanese, there is no need to complicate things.

• sati2929
• 2022/04/27 (Wed) 16:26
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Showa-no-Otchan-sama,

Thank you for your reply.

1 ＞ I had been making living expenses from my savings.

4 ＞ I also thought it would be ok as long as I am a Japanese citizen, but to my surprise, all financial institutions say they will cancel （ except those who are posted abroad and plan to return to Japan ）. However, since my number is not yet widely used in Japan, it seems that in most cases banks do not know unless I report it to them myself. But I hope they don't freeze my account if they find out.

• sati2929
• 2022/04/27 (Wed) 18:49
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I found this past topic.
Excerpts below ：

First, don't be so nervous about the FBAR.
Japanese who are currently residing in the U.S., permanent residents and citizenship holders, as well as those who are here on
visas. I think that probably 8 － 90% of them have some kind of account in Japan
. However, I think there are not so many people who have more than 1,000,000 yen who
also file their tax returns in FABR.
Most of my clients have lived in the U.S. for less than 5 － 10 years and travel back and forth
to Japan quite often.
If you file this FABR, you will receive a reply and confirmation from
U.S. Department of Treasury's Financial Crimes Enforcement Network (FinCEN)
. .

As you can see from the name, it is separate from the original IRS tax collection role and is titled
Financial Crimes.
Originally, this rule was started 3 － 4 years ago as an anti-terrorist measure.
Even if it is interpreted for the purpose of tax evasion, it is highly unlikely that a tax evader （ or a criminal ） would declare
that he/she has 1 billion yen in secret accounts in Switzerland or Panama.
Therefore, I think that the people who would report are limited to those who are extremely serious and do not do anything illegal
. Let's say you have a savings account in Japan worth 2 million yen
. What happens if you don't declare it ？
and the IRS requires every financial institution in Japan to
request something like a W-2 form
and "definitely check the account balances of people who reside in the US." If anyone thinks that this is a good idea, he or she has no common sense at all.
In police dramas, there are scenes in which police check
bank accounts to check the money movements of criminals, but it is clear that even the police will not
give out account and account balance information without a solid search warrant
from the bank side. without a search warrant.
Moreover, it is not usual for an American institution to know anything about the balance of a particular
Japanese person's account in a Japanese bank without being able to speak Japanese.
Moreover, this FBAR rule is the same for Chinese, Iranians, and Russians
as it is for Japanese. Do you
think you can make a balance inquiry on a Russian bank account from the U.S. ？

Here is an excerpt.
I added this because I think some of you might be worried by the way I wrote it.

• 無知
• 2022/04/27 (Wed) 19:34
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I guess you are applying for GC by marriage anyway ？ The reason for applying for GC is too appropriate, and of course, how can you apply for GC if you have no income
You can use your husband's joint for your taxes here.　Especially if you're going to joint with your husband.　
If your husband gets an audit, he will naturally find out
The penalty for being found out is huge
As long as you are Japanese, you can use your parents' address for your bank account in Japan.
There are GC's who pay Japanese pension even if they live here.

• sati2929
• 2022/04/27 (Wed) 20:22
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Dear Ignorance,

Thank you for your reply. It was very helpful.

I worked diligently to sponsor my husband's Japanese visa. I have been working diligently for over 25 years now. My work permit was granted last month and I have started working here as well. We have savings for this. There are other reasons why I decided to live here, but it is not something I want to talk about on a message board, so I refrained from doing so. I am sorry. I have Japanese acquaintances here, and I was also surprised at how many people do not know about the system. I called my accountant and his assistant didn't know either. But as you say, I don't want to do anything illegal or anything like that, and the penalties are great, so I want to do it properly.
My concern about freezing my account was the following circumstances. ：

Japanese financial institutions （ including securities and life insurance companies ） have tax obligations in the US （ FATCA says to cooperate with tax returns （ to report to IRS etc in the US ）
Says that by last year, it will be mandatory to report my number to financial institutions and link my number to financial institutions
→ Under this arrangement, information on financial institutions will be disclosed in both Japan and the US
If you report in the US, information will be disclosed in Japan as well The financial institution knows that you are a US resident and freezes your account

I interpreted it this way.
No one I know has been frozen, and they say it is only if you are foolish and honest with yourself. ） Ignorance says the same thing, as long as you have an address in Japan, （ even if you have removed your residence card, it's okay.

＞ There are people who have GC and live here but pay Japanese pension
I see. Many of my friends are elderly people, people who already have a pension. They have to provide proof of residency, and they said they have to be non-residents of Japan to do so. However, I heard that pensions can be paid voluntarily even by non-residents. There is a lot of confusing information when I look it up. Thank you for your clear reply.

• 無知
• 2022/04/27 (Wed) 23:42
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Not a marriage visa
until last year I could live here without a working visa
this year I can get a working visa
and after only a few months I can apply for permanent residence
impossible
at the level of the Komuro couple ？.

• 昭和のおとっつぁん
• 2022/04/28 (Thu) 07:28
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If you live in the U.S. but want to receive a Japanese pension in the future,
you should not remove your Japanese resident card but keep it and continue to receive it.

• sati2929
• 2022/04/28 (Thu) 13:04
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Dear Ignorance,

It is not that easy. Even when I applied for my husband's visa in Japan, I had a hard time. Here, it takes hundreds of documents, 4 months to prepare the application, 2 years to get the visa, and you cannot leave the US until you get a travel permit. It is very strict and I felt that there are tens of thousands of people who want to live in the U.S. even if they have to go through this step.

Dear Showa Ototsan,
Now that I think about it, I don't think I had to remove my Japanese resident card during the application process for permanent residence, but I thought I was a US resident ＝ and asked my family members to go through the process.
However, it seems that even non-residents can voluntarily accumulate pension funds. I think Japan would like to collect more funds.

Mr. Idiot,
You are right. I think I am too serious and stupid. When I asked my family and friends about it, they told me that if they could do a survey with my income, there are so many wealthy people in the U.S. that they wouldn't even have enough researchers to do it.
An expert wrote in a past topic and said that it is better not to do it seriously because it will lead to deprivation of permanent residence.
A friend of mine is setting up a business here and he is filing his own tax return, but he said that if he files a personal return, he will be closely scrutinized and it would be better not to do so. However, I do not consider this advice to be reliable because my friend has filed a tax return.
So, I am wondering what I should do because I am also concerned about the opinion that the penalty is too big （ for now, $10,000 for FATCA alone ） as Mr. Ignorance said.

• MMYAL
• 2022/04/28 (Thu) 22:24
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I am a permanent resident and have removed my Japanese resident card, but I continue to pay the National Pension Plan on a voluntary basis. The National Pension Plan is automatically stopped when you remove your residence card and establish an overseas address. You can join the National Pension Plan again when you go to the city hall or ward office yourself, tell them you want to continue it voluntarily, and fill out the form.

I file FBARs because the fines are huge, and I don't see how filing FBARs can be disadvantageous （ Maybe you just don't know. ） I do it every year.

Finally, 。。。。 I was told by a certain investment company that I cannot purchase Japanese investment products if I am a permanent resident. I still keep my bank account using my parents' address.

• sati2929
• 2022/04/28 (Thu) 23:55
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Dear MMYAL,

Thank you for your kind information.

I heard that the pension is indeed voluntary.
In my case, I have been an employee pensioner for a short period of time, so the expected future amount is quite small, so I am not continuing.

Have you filed FATCA? ？ The amount is 1/12 of FBAR, which is small compared to FBAR, but I think I should file it because even $10,000 is large for me.

Thank you for the information about the deposit.
I asked my accountant and he told me that he has a Japanese account even though he has been in the US for 50 years. He told me that it is OK to keep the investment account as long as it is a good one, as long as I can declare it here. However, strictly speaking, I think there is a rule … for non-residents, the same as banks. My impression was that there are quite a few people who continue to do so without telling us.

• SJDummy
• mail
• 2022/04/29 (Fri) 12:45
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The following is a quote from a previous discussion in the exchange forum of Vivinavi Hawaii by an accountant in Los Angeles.
"With respect to income from an account opened with a Japanese FX company while you were living in Japan
1 ） Have the FX company withhold taxes in Japan and complete the income tax payment
2 ） Report the capital gain in Japan on your US tax return.

In the case of 2, you will need to file an FBAR in the US.

If you have withheld taxes in Japan, you do not need to file a double return in the U.S. because the tax treatment has been completed.

Furthermore, how much income you have from 1,000,000 yen is based on the assumption that you file in the US, but the income from FX and stocks is taxed at the capital gains rate, but unless your US income is several hundred thousand dollars, it is taxed as part of other income, maybe 10%. I think the tax would be about 1%, which is about $1,000.

I would like to inform the readers of this site that
1 ） people without a certificate of residence in Japan cannot basically maintain a bank account for the first time
2 ） income in Japan will be withheld at source, and one country （ Japan ） to complete the payment of income tax in one country
and not include it in the US tax return 3 ） If this is not possible, not only bank accounts but also stock and FX accounts must be reported separately on the FBAR and so on." End of quote.
My interpretation is that you don't have to be too stupid （ honest and report ） as the IRS requires. There is no investigation by the IRS unless you report it here. I have been maintaining （ bank accounts in the U.S. and Japan for over 25 years, ） and my experience is that although the accounts are strictly checked when they are opened, once they are opened, the bank never asks why they are still there unless I report it to the IRS. （ Of course, the reason for the bank's existence is not clear. Of course, a contact address in Japan is always required. I use a mail forwarding sercice address. ） I assume that the FATCA you are referring to is the IRS Form 8928, but I have never applied for it. （ I have never had a balance of more than $50,000. ） I check the box that I have a foreign account on my 1040 and only apply for FinCen114 every year. I have never been investigated by the IRS. I have been reporting my pension income in Japan to the Pension Service as tax exempt as I reside outside of Japan, and I do not pay taxes in Japan. During the years I resided in Japan, I was not allowed to purchase new Mutual Funds in my US investment account, but I could sell them. （ This seems to depend on the Financial Institution's Policy, which may be the same in Japan. ）
I would like to reiterate that following the rules and regulations too strictly may cause problems. Both the Japanese and US tax authorities are not that busy, so unless the amount is very large （ for example, $ over 500k, ） it is unlikely that they will initiate an investigation. As for the Japanese pension, since you can voluntarily join even if you live outside of Japan, I think it would be advantageous to voluntarily continue the National Pension Plan in consideration of the amount you will receive in the future. （ I have been a voluntary member of the National Pension Plan since I left Japan. ）

• sati2929
• 2022/04/30 (Sat) 01:57
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Dear SJDummy

Thank you for your kind and long explanation. It is very helpful.

I asked two accountants and got different answers.
I came to the US last year, so I am not required to file income tax returns.

The first one told me that I did not need to file FBAR or fatca in that case.
Now the second person explained the procedure which surprised me.
FBAR 6 years back, fatca 3 years back, amended return 2020.
Total is about $5000.
The first person was kind enough to get back to me right away, but there was an aspect of wondering if it was ok ？.
The second person was too expensive even if I was obligated to file. I was surprised. I feel like I'm being replaced with a question about how I ？ didn't file so far but how can I do it.

I think SJDummy is right, not to take it too seriously.
I don't think FBAR and fatca are that difficult, but
what I didn't know is that tax returns for mutual funds and fx are complicated.
I hope there is an accountant who can file just this part of the return, but if not, I will look for one then, since the only time the return is complicated is next year. I will check back to see if it is necessary this time.

• SJDummy
• 2022/05/01 (Sun) 10:53
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One more point, just as a side note, both Japanese and U.S. banks are required to report to the tax authorities each time an overseas remittance of $10,000 or more is made. Therefore, it seems that banks are subject to quite strict checks regarding the purpose of remittance. This is especially true in Japan, even for online domestic transfers, and I have received phone calls from banks to confirm the purpose. （ However, I have never received a check from a bank in the US. ） Therefore, for all money transfers （ whether domestic or foreign ） I think it is necessary to document the destination, reason for transfer, etc. so that I can provide a detailed explanation in the event of a tax audit later, and I keep such documents for at least 3 years.

• sati2929
• 2022/05/14 (Sat) 14:58
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Dear SJDummy and everyone

Thank you very much for your kind explanation.

First of all, my accountant told me that I need to file a tax return to get a stimules check this time, so I need FBAR ・ Form 8938.

As you mentioned, we had to be careful about sending more than $10,000.
Therefore, if you think about living here in the future, you may need to send money from a Japanese bank, and if you have not declared your FBAR, etc., it is likely that you will be checked ？ as to where this money came from.


In addition, I would like to know

1 ＞ If I complete withholding tax in Japan, such as FX, I do not need to file a tax return in the U.S. If I have a special account with withholding tax for stocks at a securities company, does that mean I do not need to file a tax return? ？

2 ＞ If I hold US stocks with a Japanese brokerage firm and get dividends, I already have to pay US tax （ probably 10% ） and Japanese tax in Japan. ？ I feel like I would be subject to double taxation if I did so, but is there any way to avoid this by filing a tax treaty return or something?
The total amount of dividends is only about $40 and taxes are taken, so if I don't have to file a tax return, it would save me a lot of trouble.

Thank you in advance.

• SJDummy
• 2022/05/14 (Sat) 20:21
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I feel that you are quite confused because different accountants have different answers. There are a variety of accountants （ from those who are quite reasonable to those who strictly interpret the law ）, so I don't think you need to be too honest and file as the law requires （ in my opinion ）. Especially if you file Form 8938, it may be interpreted that you have a lot of assets, dividend income, etc., which may increase the possibility of being scrutinized even more. Unless your financial income in Japan is very large （ for example, more than 100K per year $, I think it would be less problematic to pay the required taxes in Japan by withholding and not fill in the return in the US. （ Personal Opinion ）. To get a credit for the tax paid in Japan, you would file Form 1116, but I think it would be better to consider this only if the amount is very large. According to "tax man", there is no sharing of detailed tax information between Japan and the U.S. at this time, so I think it would be a quackery to put your Japanese income on your tax return too honestly. （ Personal Opinion ） Especially in your case, since you are still in the transitional period when your status is not even GC, I think it is a good idea to submit the minimum information required. Even if you have to pay double tax in both countries, as long as the amount is acceptable, I think it is essential to turn a blind eye and try not to make waves as much as possible. In my case, I have applied for tax exemption under the Japan-Pakistan tax treaty for my pension income in Japan and am exempt from paying taxes in Japan. However, when I changed my residence from US->Japan to Japan->US, I had to pay taxes in both countries for about 2 years. As I have said many times before, it is important not to submit unnecessary information as much as possible so as not to poke the snake out of the quack.

• 送金予定
• 2022/05/14 (Sat) 23:36
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Sorry for the sideways entry.

#16 Dear SJDummy

I am thinking of sending money to my sister in Japan, is it ok if it is not $10,000 at a time ？ for example in 4 installments. I don't have a bank account in Japan, so I will send it to my sister. （ I want it to be used for my mother's care ）
If I send my sister a total of $10,000 in one year, will there be any problems on her side ？ like taxes....
I have been away from Japan for 40 years, so I don't know anything about Japan.
Please let me know if you can help me.

• SJDummy
• mail
• 2022/05/15 (Sun) 16:40
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It seems that $10,000 is the amount on the U.S. side, and on the Japanese side, if the amount is more than 1 million yen, it will be reported to the tax office. For example, assuming that 900,000 yen in Japanese yen is sent four times, probably no report will be sent to the tax office both in Japan and the U.S. （ Personal Opinion ） This is not a guarantee. If the recipient is the same person, if the tax office learned that information, they would check to see if the gift tax has been reported. （ The tax-free range for gift tax in Japan is up to 1,100,000 yen per year ） Also, on the U.S. side, there should normally be no report to the IRS, but if there is an investigation, the gift is considered to be more than $ 15,000 per year to the same person and a gift tax return will be required on the U.S. side. If the rules are followed, gift tax returns （ must be filed in both Japan and the U.S. ） by the recipient in Japan and the sender in the U.S. , so it depends on how you think about the risk of being discovered by the tax authorities. From this point on, it would be up to the individual, but for this amount of money, I would not file a tax return.

• sati2929
• 2022/05/16 (Mon) 14:39
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Dear SJDummy,

Thank you again.

My Japanese assets are over 100k.
The other day, I talked to someone who has more assets than I do, and he told me that I should file Form 8938 and FBAR properly, but
he said that if I tell my accountant too much detail, he will just make money from me, so I should just do the small amount properly.
（ For example, accounts under $10 could be written as $8 or $6. As for his wife, he said that she doesn't declare accounts of about 1-2 million. ）
He told us that they have an American accountant, so they do a lot of the work themselves.

I just started to fill out Form 8938 on turbotax, and I can easily find dividends by looking at the brokerage report, but
I have to check the 12 month statement for each account and add up the interest from the bank since it comes in at different times. ？
and it is as the rule says, but the interest on savings accounts is 0.001%, so even if there were tens of millions of dollars, it would only be a few hundred yen,
should I assume 0 yen, ？ or should I put an appropriate number? ？

Another thing I don't understand is that the tax rate on capital gains over one year seems to be 0% if it is less than $44,000, but should interest on time deposits over one year be included in interest? Thank you again. Thank you again.

• sati2929
• mail
• 2022/05/16 (Mon) 21:29
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Dear SJDummy,

Sorry. It is financial income, not financial assets.
Financial income is about 2 million yen, although I learned about these programs this year and sold them in a hurry.

In addition, I would like to know if you know anything about this.
It seems that I have to file form 8621 if I have a mutual fund, but I have no idea. My accountant told me that mutual funds are complicated and I should get rid of them.
Do I have to submit the form even if I hold it and do not make a profit? ？ Is there an accountant who can help me with this part?

• 痛い
• 2022/07/04 (Mon) 23:32
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taxman, you've done it in so many places that people are complaining about it, and you're aware of it.
Maybe he is playing three roles including the role of questioner,

He must have a lot of time on his hands.