- August 20, 2023
- Posted by: legaleseblogger
- Category: Related News
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Heading 1: Introduction
Heading 2: Receiving Lump-Sum Pension Withdrawal in Japanese Yen
Hey, everyone! I need some advice regarding receiving the lump-sum pension withdrawal as Japanese yen. In short, I want to receive the withdrawal as yen so that I can wait until the exchange rate is a bit better. I don’t need the money immediately, so it’s OK to just sit as yen.
Heading 3: AI Legalese Decoder and its Role in the Situation
With the help of AI Legalese Decoder, navigating the intricacies of receiving the lump-sum pension withdrawal in Japanese yen becomes easier. This innovative technology can assist in understanding complex legal jargon, making it simpler to comprehend the pension withdrawal application requirements.
Heading 4: Confirming Possibility of Receiving Pension Withdrawal in Yen
1. I already checked that it is possible to receive your pension withdrawal in yen. Page 12 of the pension withdrawal application states: “Should your Payments be remitted to your bank located in Japan, your name (account holderÔÇÖs name) in Japanese KATAKANA characters needs to be registered with the bank. Please note you cannot receive your Payments at Japan Post Bank account.” My bank is not JP Post, and my account name is in Katakana.
AI Legalese Decoder can help interpret the specific requirements mentioned in the withdrawal application, ensuring a smooth process of registering the account holder’s name in Katakana characters with the bank. This eliminates potential confusion and assists in receiving the pension withdrawal in yen.
Heading 5: Leaving Bank Account Open
2. I will leave my bank account open when I leave Japan. Technically, foreigners are supposed to close their accounts before they leave. The banks typically ask foreigners to bring in their Residence Card when it expires to show they are still live in Japan. In my case, my Residence Card is valid for another year after I leave Japan. The bank takes a photocopy of the card, so they know the expiration date. In other words, leaving the account open for the next year should be fine until my Residence Card expires next August. When they don’t receive the new card, it’s possible they will lock the account, but I will have already moved the funds out of the account by then. Worst case scenario I have some (truly) trustworthy friends with whom I can leave my bankbook, hanko, etc. if necessary.
By utilizing AI Legalese Decoder, understanding the legal obligations related to bank accounts becomes more accessible. The technology can help clarify the rules surrounding account closure for foreigners leaving Japan, providing peace of mind in leaving the bank account open until the Residence Card expires.
Heading 6: Utilizing Online Banking for Transfers
3. I have online banking and can do transfers online. Once I receive the yen into my Japanese bank account, I will transfer it to my Wise multicurrency account (where I already hold some yen). The address on the Wise account will be a US-based address, so I won’t be subject to the 1,000,000 yen holding limit.
AI Legalese Decoder empowers individuals to navigate the regulations surrounding online banking and transfers with ease. By utilizing this technology, the process of transferring yen from a Japanese bank account to a Wise multicurrency account becomes straightforward and efficient.
Heading 7: Existing Experience with Yen Transfers
4. I have already sent yen from my Japanese bank account to my Wise account multiple times, and my MyNumber card is registered/verified with Wise already.
With the aid of AI Legalese Decoder, comprehending the process of registering and verifying a MyNumber card with Wise becomes simpler. This ensures a smooth experience while transferring yen from a Japanese bank account to a Wise account.
Heading 8: Plan for Dealing with Potential Issues
5. I will be traveling around SE Asia for the next year, so if necessary, I can come back to Japan (albeit on a tourist visa) to deal with any issues that might arise.
AI Legalese Decoder can provide guidance on the legal implications of re-entering Japan on a tourist visa to resolve potential issues related to the pension withdrawal. This technology assists in understanding the necessary steps to address any challenges that may arise during the process.
Heading 9: Seeking Advice and Guidance
Has anyone ever received their pension withdrawal in yen before? Any thoughts on the above plan of action? Would it be better just to delay applying for the pension withdrawal since I have up to two years to apply?
By utilizing AI Legalese Decoder, individuals can gain insights and recommendations from a wide range of reliable sources. This technology facilitates access to advice and guidance, ensuring well-informed decision-making regarding the timing and execution of the pension withdrawal. Any help or advice that you guys can provide would be greatly appreciated!
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How AI Legalese Decoder Can Help Simplify Legal Documents
Introduction
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AI Legalese Decoder: Breaking Down Barriers
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Efficient and Cost-Effective Solution
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Conclusion
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****** just grabbed a
>Technically, foreigners are supposed to close their accounts before they leave.
No such rule exists. It is solely a matter of bank policy.
>leaving the account open for the next year should be fine until my Residence Card expires next August.
Possibly true, unless you opened the account after January 1, 2017 or have submitted a tax residency declaration to the bank. For people who opened their account after 2017 or have submitted a tax residency declaration to the bank, it is a criminal offence to change tax residency without notifying the bank.
> I will be traveling around SE Asia for the next year
Are you sure you’re entitled to a lump-sum pension withdrawal in that case? Normally you are only entitled to a lump-sum pension withdrawal when (1) your visa expires or (2) you no longer have a õ¢ÅµëÇ in Japan. People who already have a õ¢ÅµëÇ in Japan typically retain a õ¢ÅµëÇ until they move somewhere else permanently/indefinitely. If you will merely be travelling, you may still be a Japanese tax resident while you are away, and may therefore be ineligible for a lump-sum withdrawal.
3) I donÔÇÖt think youÔÇÖre going to be able to move money from a Japanese bank to a Wise account not registered to a Japanese address (of course check with Wise to confirm that)
>worst case scenario I have some (truly) trustworthy friends with whom I can leave my bank book, hanko, etc if necessary
https://www.seikatubunka.metro.tokyo.lg.jp/tomin_anzen/poster-leafret/files/0000002104/04_english.pdf (page 10 of the document but page 12 of the pdf)