Few more details. If you own U.S. dollar valued assets and die with it and your beneficiaries are in Japan, they need to know the cost basis in Japanese Yen. Japanese tax law requires you to know the Japanese yen value at the date of transaction (not just the year of the transaction as would be the case in US Tax law). So if you made improvements to a real estate property, reinvested dividends and capital gains distribution in a mutual fund, each of those transactions must be revalued in Japanese yen at the date of transaction. If you don't know your cost basis, Japanese law allows the assumption of 5% of gross proceeds which will usually be lot worse because it isn't common to make 20 times your money in appreciation alone in any investment. I suppose you can plea worst case estimate on the cost basis by using the point in time when U.S. Dollar was valued the highest relative to the Japanese yen for a particular year if all you know for a transaction is the year it occurred for example. If you only had average cost basis for your mutual fund shares in U.S. Dollar, you could use the highest dollar value exchange rate during the entire holding time of that fund. As bad as that may be, it will probably pass a Japanese Tax Auditor and it is likely to be far better than assumption of 95% of your gross proceed is capital appreciation. So try to remember this after you die so you can mention it to your heir.
このビデオに個別の質問がある方、CDH担当者との無料相談を受けたい方、情報満載の
毎月のニュースレターを受け取りたい方などは、www.cdhcpa.com/ja/personal-tax/ でご自身の希望の分野をお選びしていただき、ページの下半分の丸や、丸みのある長方形のイメージをクリックしていただくとご希望のページに飛ぶ仕組みになっています
Few more details. If you own U.S. dollar valued assets and die with it and your beneficiaries are in Japan, they need to know the cost basis in Japanese Yen. Japanese tax law requires you to know the Japanese yen value at the date of transaction (not just the year of the transaction as would be the case in US Tax law). So if you made improvements to a real estate property, reinvested dividends and capital gains distribution in a mutual fund, each of those transactions must be revalued in Japanese yen at the date of transaction. If you don't know your cost basis, Japanese law allows the assumption of 5% of gross proceeds which will usually be lot worse because it isn't common to make 20 times your money in appreciation alone in any investment. I suppose you can plea worst case estimate on the cost basis by using the point in time when U.S. Dollar was valued the highest relative to the Japanese yen for a particular year if all you know for a transaction is the year it occurred for example. If you only had average cost basis for your mutual fund shares in U.S. Dollar, you could use the highest dollar value exchange rate during the entire holding time of that fund. As bad as that may be, it will probably pass a Japanese Tax Auditor and it is likely to be far better than assumption of 95% of your gross proceed is capital appreciation. So try to remember this after you die so you can mention it to your heir.