Foreign Asset Reporting in Japan | 国外財産調書 | KAYANO International Tax - 榧野国際税務会計事務所

Asset Reporting

If you are a foreign national living in Japan and hold significant assets — whether overseas or in Japan — you may be required to submit one or both of the following annual asset reports to the Japanese tax authority.

Failure to file can result in increased penalties and, in the case of the Report of Foreign Assets, criminal sanctions.

The Two Reporting Requirements

① Statement of Assets and Liabilities

財産債務調書

Who must file

Residents who meet either of the following criteria as of December 31:

Income exceeding JPY 20 million and total assets of JPY 300 million or more (or JPY 100 million or more in certain overseas assets subject to exit tax rules)
Total assets of JPY 1 billion or more (regardless of income)

Covers both domestic and overseas assets.

Filing deadline

June 30 of the following year

Consequences of non-filing

Where unreported income is later discovered, the underreporting surcharge (過少申告加算税) is increased by 5%.

Benefit of filing

If filed on time and an income underreporting is later found, the surcharge is reduced by 5%.

② Report of Foreign Assets

国外財産調書

Who must file

Residents whose total overseas assets exceed JPY 50 million as of December 31.

Note: Non-permanent residents (非永住者) are exempt from this requirement. This report applies only to permanent residents (永住者) of Japan.

Covers overseas assets only.

Filing deadline

June 30 of the following year

Consequences of non-filing

Underreporting surcharge increased by 5% (or 10% in certain cases where required documents relating to overseas assets are not provided upon request). Additionally, deliberate non-filing may result in criminal sanctions — imprisonment of up to 1 year or a fine of up to JPY 500,000.

Benefit of filing

If filed on time and an income underreporting is later found, the surcharge is reduced by 5%.

What We Can Do for You

Filing obligation check We assess whether you are required to file either or both reports based on your income, assets, and residency status.

Asset aggregation We assist in compiling and valuing your assets across multiple accounts and institutions — including overseas brokerage accounts, bank accounts, and real estate.

Report preparation & filing We prepare and file both the report and the required summary form (合計表) on your behalf, ensuring accuracy and timely submission by the June 30 deadline.

Prior year catch-up If you have missed filings in prior years, we advise on the best course of action to address the situation and minimise any penalties.

How It Works

Initial Consultation

We assess your filing obligations based on your income, assets, and residency status.

Document Collection

We send you an information request sheet tailored to your situation. You provide your asset statements and account information accordingly.

Preparation & Review

We prepare the report and share a draft for your confirmation before filing.

Filing

We file on your behalf by the June 30 deadline and confirm completion.