I’ve never received money before outside my salary job so I want to be clear.
Information
1.) I’m a table 1 (*** I made a mistake. I am not a table 2) visa holder on my seventh year as a tax paying/pension paying workint resident.
2.) I’m American.
3.) My vanguard account for college was surrendered to my family. They’ll be gifting me cash in increments from stocks they’ve sold. 16,000 USD this year. 17,000 USD next year. Possibly a bit more the year after that. Another.10,000 or so.
4.) My salary is well below the amount to expempt me from expatriate taxes.
Questions
1.) Do I need to declare this money? If so, when and how?
2.) Do I owe taxes on this money? As far as I am aware, it’s far beneath 25 million yen but I’m inexperienced and want to be thorough and follow the law.
3.) Is it as simple as it being wired to my JP bank account?
Thanks to anyone who can help and have a great weekend.
by BedWorldly641