I originally started writing a giant post asking for advice and providing a detailed rundown of all of our Japanese accounts and my ideas/questions about how to arrange assets for someone who will soon become a US Person for tax purposes. It turned into a giant wall of text so I thought I might get better answers by asking something more hypothetical/open-ended:
**If you were becoming a US person and wanted to keep yourself invested in Japan for future growth and for generating “local” (yen-denominated or at least heavily insulated from USD/JPY changes) income, what would you buy/hold and where would you hold it?**
Edit to add current holdings/plans:
* NISA holds only US-domiciled ETFs that mostly pay qualified dividends
* 特定 account holds JP-domiciled ETFs, individual Japanese stocks, and Japanese mutual funds/投資信託. Need to sell off everything but the individual stocks (and probably bank stocks, too? are they PFICs?)
* iDeCo holds Japanese mutual funds and would just need to be converted to cash
by FogDucker