I have a question concerning gift tax/declaration. If I loan my (foreign) parents around 3 million, but they replay it within 2 months (with interest), is there anything to declare? This is absolutely not a gift, as they are repaying me within 2 months.
I’m just wondering if the NTA is going to come banging on my door when they see 3 million go out of my account, and then go back in 2 months later. Do I need to notify them? I of course don’t want to do anything wrong, but also don’t want to be on the hook for gift tax since no one is receiving any gift money at all.
(I am a non-Japanese permenant tax resident.)
by omotenashi
