My case (overseas investment, capital gains, refinancing mortgage)

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captainspoke
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Joined: Tue Aug 15, 2017 9:44 am

Re: My case (overseas investment, capital gains, refinancing mortgage)

Post by captainspoke »

Wales4rugbyWC23 wrote: Sat Mar 29, 2025 9:52 am...

I am so glad that when I cashed in my Gerneralli one, I sent it back to the UK from Hong Kong. I thought the Japanese tax office might get suspicious if I sent it here.
It was not all the 'offshore' acct. I had not been declaring my US-based taxable account, and that came into the mix, too. This was the mid 2000s. They went back five years, and iirc, weren't too hard on me since I'd laid everything on the table. They were nice about it, but at the final meeting I think there were six of them, plus me, at the table, presenting their final conclusions.

I'd been open, but it struck me then that that was the proper way to go. Here were six tax pros who'd gone over my case, and I was thankful that I, as a naive gaijin, hadn't tried to 'outsmart' them somehow. That would've ended badly. Three years later they checked me again for those three, and actually found a couple 'man' in my favor for one year.

It was a learning experience. Some of the column headings for reporting overseas gains/dividends/interest in posts I've made here and on r/JapanFinance date to this time and their instructions then. I don't pretend to be expert at it, but for what I do I think I've got it down and am pretty meticulous. And for any given year since then it wouldn't surprise me at all if I got a call and they were going to check again.
midnightrambler
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Joined: Sun Mar 23, 2025 1:42 am

Re: My case (overseas investment, capital gains, refinancing mortgage)

Post by midnightrambler »

Thank you again for the great replies.

When I do cash out my Evolution plan, probably once it gets to 10 years, I will dump all the money into my MUFJ account. Probably around 10 million yen's worth. Will this raise any red flags?
beanhead
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Location: Kanto

Re: My case (overseas investment, capital gains, refinancing mortgage)

Post by beanhead »

midnightrambler wrote: Wed Apr 02, 2025 12:55 pm
When I do cash out my Evolution plan, probably once it gets to 10 years, I will dump all the money into my MUFJ account. Probably around 10 million yen's worth. Will this raise any red flags?
No, but they may ask you the the source of the money. Just be honest. You have nothing to hide.
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
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