RetireJapan

Dear members,

I wish you all a great new year!

I would like to ask for people's experiences / advice regarding giving 'My number' information to companies outside Japan.

I have recently updated my personal details with my stock broker in the UK and they are asking for my 'my number' information.

I am hesitant to give out this information as I believe it could increase the risk of it being hacked.

Am I legally obliged to hand this information over?
Has anyone else had similar worries, and if yes, how did you proceed?

Thanks for reading this and thank you in advance for any advice you might have.

Yes, My Number is Japan's TIN (tax identifier number). Almost all OECD countries have a treaty that requires them to share account information with each other, so if you are resident in Japan you will need to register your TIN with financial institutions in other countries.

I have given mine to UK banks, etc.

Same, to the bank in my home country.

They won’t open a term deposit for me without it these days because of that tax stuff.

Oddly, a plan savings account does not yet seem to have the TIN requirement, but the interest earned there is just pesky.

Hello, I do not agree, we don't have to communicate Japanese TIN to another country.
I have a broker account in the UK (Computershare / Equateplus) and for the FATCA/CRS self-certification I don't have to disclose it as I am protected by Japanese law.
I found this as well: https://www.irs.gov/businesses/corporat ... reign-tins

GuiTsu wrote: ↑Wed Feb 14, 2024 11:29 am Hello, I do not agree, we don't have to communicate Japanese TIN to another country.
I have a broker account in the UK (Computershare / Equateplus) and for the FATCA/CRS self-certification I don't have to disclose it as I am protected by Japanese law.
I found this as well: https://www.irs.gov/businesses/corporat ... reign-tins

Are you sure about this? Do you have a source for the Japanese law?

Hi, how to attach a screenshot here?
When I attached it displays the board attachment quote has been reached.

Use imgbb.com

ahah I am too lazy so I found that.
https://www.nta.go.jp/taxes/shiraberu/k ... 107_02.pdf
"(*4) Persons whose jurisdiction of residence is Japan are required to indicate their jurisdiction of residence as "Japan." In that case, "My
Number (Personal Identity Number)" is not required."

Is it enough
otherwise I will share the screenshot from my broker account.

GuiTsu wrote: ↑Wed Feb 14, 2024 11:29 am Hello, I do not agree, we don't have to communicate Japanese TIN to another country.
I have a broker account in the UK (Computershare / Equateplus) and for the FATCA/CRS self-certification I don't have to disclose it as I am protected by Japanese law.
I found this as well: https://www.irs.gov/businesses/corporat ... reign-tins

You don’t have to share it, and foreign financial institutions don’t have to provide you service. If you refuse, they’re perfectly entitled to close your account as you’re refusing to provide information they require under the CRS system that all developed counties have signed up to, including Japan.

There is absolutely no law in Japan that protects you from supplying your TIN to foreign banks.

You may find more information here

https://www.oecd.org/tax/automatic-exch ... -standard/

Deep Blue wrote: ↑Wed Feb 14, 2024 2:01 pm

GuiTsu wrote: ↑Wed Feb 14, 2024 11:29 am Hello, I do not agree, we don't have to communicate Japanese TIN to another country.
I have a broker account in the UK (Computershare / Equateplus) and for the FATCA/CRS self-certification I don't have to disclose it as I am protected by Japanese law.
I found this as well: https://www.irs.gov/businesses/corporat ... reign-tins

You don’t have to share it, and foreign financial institutions don’t have to provide you service. If you refuse, they’re perfectly entitled to close your account as you’re refusing to provide information they require under the CRS system that all developed counties have signed up to, including Japan.

There is absolutely no law in Japan that protects you from supplying your TIN to foreign banks.

You may find more information here

https://www.oecd.org/tax/automatic-exch ... -standard/

Lloyds Bank would not allow me to continue to use Internet banking until I had registered my Japanese TIN number. My bank account is registered with a Japanese address.