Hello everyone,
I will be moving to Japan this September to attend college, and I have a question regarding taxation on income.
I am currently looking into what would happen if I were to receive my 401k funds as a lump sum. (Yes, are disadvantages to this. I am not here to ask about/discuss that.)
My current idea is to receive the lump sum next year and deposit it to my US bank account. I am assuming this is counted as income.
If I were to then transfer this money to a Japanese account, would it be considered remitted to Japan, and therefore taxable?
Thanks in advance for your help, and I will provide any clarification as needed.
by Ottermelon97