Vivinavi : Los Angeles : (United States) Los Angeles

• 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.