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Topic

Sale of shares deposited with Japanese securities firms

Question
#1
  • KEI
  • mail
  • 2021/08/16 13:44

I live in the United States. I have removed my certificate of residence in Japan, but left my shares deposited in an account at a Japanese brokerage firm.
When I tried to sell these, the procedure is easy, but the brokerage firm advised me
to declare the gain from the sale in the US. Is it OK if I just calculate it from the gain on the sale and file it myself on my tax return ？
It seems that TAX is higher in the US, but if anyone knows about the procedures, etc., please advise me.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#2
  • tax man
  • 2021/08/17 (Tue) 20:26
  • Report

This section answers your questions regarding the reporting of gains （ ） capital gains on stock returns in Japan.

When you have a gain or loss on a stock transaction, you must report it on Schedule D of your U.S. tax return form 1040.
Based on the brokerage firm's statement of transactions, enter the amount of the difference between the price at which you bought the stock and the price at which you sold it, if there was a gain
or a loss, on the form, calculate the total
amount of income, and report the gain as taxable income.

You will be required to file a tax return on the profit. If you have traded stocks in the U.S., you only need to convert
Japanese yen into U.S. dollars at the specified exchange rate, otherwise, the process is the same whether you have traded stocks in Japan or the U.S.
.

Judging from the fact that you are asking this question, we assume that you have never
declared your stock transactions and profits in the US.

In that case, we recommend that you contact a professional to handle this matter.

Furthermore, if you transfer the amount of shares you sold to the U.S. and put it in your bank account in the U.S.,
there is no problem, but if you put it in your bank account in Japan,
if the total amount of the shares you sold exceeds 10 ， 000 USD per year, you will be required to file a separate return in the U.S. If you are not able to handle this matter by yourself, please consult a professional
and have him handle it.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#3

If you have assets of more than $10,000 in Japan, you are required to file an annual tax return with the IRS.
If you do not report your assets to the IRS, it may be considered money laundering. It is advisable to consult your CPA and take appropriate measures.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#4

If you own more than $10,000 in assets in Japan (stocks, bank deposits, savings accounts, etc.), you are required to file an annual return with the IRS. Failure to file may be considered money laundering.
We recommend that you take prompt action on your CPA.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#5
  • ありがとうございます。
  • 2021/08/18 (Wed) 07:11
  • Report

Dear tax man
Thank you for your kind explanation. Your information was very helpful.
We ask a professional to do our tax returns every year.
When I sell stocks, I should keep track of the purchase price and sale price at that time from the brokerage firm
so that I can know my income for next year's tax return.
Thank you for your detailed explanation ！.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

#6
  • ありがとうございます
  • 2021/08/19 (Thu) 06:07
  • Report
  • Delete

Dear Hawaii
Thank you for the information. We had originally declared our savings and securities. We will continue to make sure that we do not fail to declare them so that we do not have to worry.

This text has been translated by auto-translation. There may be a slight difference between the original text and the translation. (Original Language: 日本語)

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