Can I leave Japan without closing my bank account?

Navigating Bank Account Closure for Non-Resident Foreigners Departing Japan

Exiting Japan permanently entails several essential procedures, one of which is closing your bank account. While the process may seem straightforward, it holds particular significance for non-resident foreigners. This article explores the implications of departing Japan without closing your bank account and provides guidance on ensuring a smooth departure.

Consequences of Leaving Japan with an Open Bank Account

Leaving Japan without closing your bank account can lead to unforeseen complications, especially for non-resident foreigners. Key concerns include:

• Dormant Account Status: Your bank account may become dormant if you fail to maintain a minimum balance or have no transactions within a specific period. This can result in automatic freezing of your funds and potential fees.
• Unclaimed Funds: If your account remains dormant for an extended period, it may be classified as “unclaimed funds” and transferred to the Japanese government. Retrieving these funds later can be a challenging process.
• Tax Implications: Japanese tax authorities may require you to file tax returns even after leaving Japan if you have an open bank account. Failing to do so can lead to penalties.
• Potential Fraudulent Activity: Leaving your bank account open can increase the risk of fraudulent activity, as your personal information may still be linked to the account.

Proper Bank Account Closure Procedure

To avoid these potential issues, it is imperative to close your bank account before departing Japan. The following steps should be followed:

1. Notify Your Bank: Contact your bank branch and inform them of your intention to close your account. Provide them with your departure date and address.
2. Withdraw Your Funds: Withdraw all remaining funds from your account, including any outstanding deposits or interest earned.
3. Return Your Cash Card and Passbook: Submit your cash card and passbook to the bank and receive a confirmation of closure.
4. Confirm Closure: Call the bank’s customer service line or visit the branch to verify that your account has been successfully closed.

Additional Tips for Non-Resident Foreigners

In addition to the general closure procedure, non-resident foreigners should consider the following:

• Obtain a Tax Certificate: Request a tax certificate (kakutei shinkoku sho) from your bank, which will confirm that you have no outstanding tax obligations in Japan.
• Transfer Funds to a Different Account: If you wish to retain access to your funds, consider transferring them to a bank account in your home country before closing your Japanese account.
• Keep Documentation: Retain all account closure documentation, including the confirmation of closure and tax certificate, for your records.

By following these guidelines, non-resident foreigners can ensure a smooth departure from Japan and avoid potential complications associated with leaving an open bank account behind. Closing your bank account is a crucial step in finalizing your departure and ensuring financial security.