Sending Japan Property Sale Proceeds Abroad: Bank and Tax Paperwork

This article is part of the Zagdim Japan property series. It explains what a bank checks, and which documents and tax records to prepare, when you remit the proceeds of a Japanese property sale from Japan to an account overseas. It is written for owners living abroad who have sold, or are about to sell, property in Japan. For the full picture of the sale process and taxes, see the main article “Think About Your Exit Before Buying Japanese Property: Resale Process, Costs, Liquidity and Remittance”.

Remitting sale proceeds from Japan to an overseas account is, in principle, free, and no prior permission is needed. The official documents reviewed for this article contain no list of documents you must attach to remit sale proceeds. The law requires banks to confirm your identity and the reason for the remittance, and the Financial Services Agency (金融庁) also expects banks to check whether the purpose and amount of a remittance are reasonable and, where necessary, to ask you for credible supporting evidence. Which documents are actually asked for depends on each bank. It is sensible to prepare three kinds of material: proof of identity, a record of the sale (the sale contract and the settlement statement), and your tax records in Japan. Also, if the buyer was required to withhold 10.21% of the price, that portion will not reach your account, and it is settled only when you file your return.

Why Does the Remittance Step Often Get Stuck?

Sale proceeds arrive as a single large deposit and are usually sent abroad soon after. One of the situations the Financial Services Agency asks banks to check for is exactly “a sudden large inflow or outflow in an account with no past history of such transactions”. In such cases the bank can question you and ask you for supporting evidence.

At the same time, you live overseas, and the sale contract, settlement and filing documents may be handled separately by the agent, the judicial scrivener (司法書士) and your tax representative (納税管理人). If tax was withheld, the amount credited to your account will also differ from the sale price. It is better to organize the documents before you remit than to start looking for them when the bank asks.

What Does a Bank Have to Confirm by Law When You Send Sale Proceeds Out of Japan?

A bank’s checks come in layers, depending on the amount and the circumstances. The main article has a table of the threshold for each layer; below is what each layer actually checks and what you need to do.

Does This Remittance Need Permission?

Under the Foreign Exchange and Foreign Trade Act (外国為替及び外国貿易法, “FEFTA”), apart from payments that are listed as subject to permission, remitting money from Japan abroad and exchanging foreign currency and yen are free. Before processing a remittance, the bank must confirm that it is not a payment for which FEFTA requires permission (for example, a payment related to economic sanctions), or that permission has been obtained. The bank does this check; what you need to do is fill in the remittance details accurately.

Above JPY 100,000, What Does the Bank Confirm About You?

When a remittance from Japan to overseas exceeds JPY 100,000 (or the equivalent in foreign currency), it is a specified exchange transaction (特定為替取引) under FEFTA, and the bank must confirm your identifying details: name, address or residence, and date of birth. For a foreign national who has no address or residence in Japan and who falls within the categories set by government ordinance, the address part is replaced by the items specified in a Ministry of Finance ordinance.

Confirmation is done by the methods set by Ministry of Finance ordinance, such as showing a driver’s license. For people living overseas, which documents can be used depends on the bank’s requirements. If you do not cooperate with the confirmation, the bank can refuse to process the remittance until you do.

How Do You Declare the Reason for the Remittance, and Does the Bank Report It to the Tax Office?

A person making an overseas remittance must submit a notification form (告知書) to the bank stating name, address, individual number (マイナンバー, “My Number”) and the reason for the remittance. When submitting it, you must show legally specified documents such as a copy of the resident record (住民票), which the bank checks. For people without an individual number, the bank confirms name and address; for people without an address in Japan, the “address” to be confirmed is specified separately by Ministry of Finance ordinance.

If you transfer the money out of an account that you opened in Japan in your own name and for which the bank has already confirmed your name, address and individual number, the remittance is a specified remittance (特定送金) and you do not need to submit a notification form each time. Whether your account qualifies is for the bank to confirm.

For a single overseas remittance above JPY 1 million, the bank must file a statement of overseas remittances (国外送金等調書) with the tax office for the area where the branch is located, by the end of the month following the month of the remittance. It records your name, address, the amount, and the remittance reason on the notification form. The bank files the statement, not you; what you need to do is make sure the remittance reason on the notification form is clear and consistent with the actual transaction.

Why Would a Bank Ask About the Purpose and Ask for Supporting Evidence?

The Financial Services Agency asks banks, when accepting a remittance, to check whether the customer or the transaction seems unnatural or unreasonable. Its examples include:

• whether the purpose or the amount of the remittance is unreasonable given your age and occupation;
• whether the purpose of the transaction you declared when opening the account contradicts the purpose of this remittance;
• whether there is a sudden large inflow or outflow in an account with no past history of such transactions.

When one of these applies, bank staff will ask you questions, ask for credible supporting evidence (信頼に足る証跡), and refer the transaction to a supervisor for approval. This is a requirement the regulator places on banks, not a legal obligation on you, and the official materials do not list which documents the evidence should be.

The second point relates to account opening. When you open an account at a Japanese bank, the bank must confirm your identifying details, the purpose of the transaction and your occupation under the Act on Prevention of Transfer of Criminal Proceeds (犯罪による収益の移転防止に関する法律). You declare the purpose yourself, for example verbally or by ticking a type from a list the bank provides. If the account was originally declared for a different purpose, you can prepare an explanation before remitting sale proceeds. The Financial Services Agency also explains that banks regularly confirm customers’ name, address, date of birth, occupation and transaction purpose, so it is wise to check before selling that the details registered on the account are up to date.

When Does a Bank Have to Confirm Your Assets and Income?

The Act on Prevention of Transfer of Criminal Proceeds also has rules on high-risk transactions (ハイリスク取引). The types include transactions with a customer suspected of impersonation or of having misreported information at the time of confirmation; transactions with customers who live in or are based in Iran or North Korea; and transactions with foreign heads of state, foreign governments, or people in important positions such as central bank officials (including former officeholders) and their family members.

Where a transaction is high-risk and involves a transfer of property above JPY 2 million, the bank must also confirm your assets and income, looking at whether you have assets and income commensurate with the transaction. It does not necessarily have to confirm all your assets. Documents listed in the National Police Agency (警察庁) explanation include a withholding tax slip (源泉徴収票), a final tax return (確定申告書), a bankbook (預貯金通帳) and other documents showing assets and income. High-risk transactions are defined by law, and not every remittance of sale proceeds falls into this category.

With No Official List, How Do You Prepare Documents?

There is no official Japanese list of documents to attach when remitting sale proceeds, and the actual requirements depend on the bank. The table below organizes preparation directions based on the legal confirmation items above. It is not an official list and not any bank’s requirement; please check with your bank before remitting.

Two points to note. First, if you remit in the same year as the sale, the filing period for the capital gain from this sale (February 16 to March 15 of the following year) has not yet arrived, so you will not yet have a final tax return for this sale. Second, you can ask the agent or judicial scrivener for a settlement statement showing the sale price, the amount withheld and the amount actually received, which helps explain why the amount credited is lower than the sale price.

**Example: Mr. Lee, an owner living in Kaohsiung**

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Mr. Lee bought an apartment years ago while working in Osaka and also opened a Japanese bank account in his own name, declaring salary as its purpose. After returning to Taiwan, he has no address in Japan and is a non-resident under the Income Tax Act. The apartment has been rented out and the account sees only small movements. In December 2026 he sells the apartment for JPY 45 million to a Japanese individual who buys it as a rental, and the proceeds are paid into this account.

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• The buyer is not buying to live in it, so at payment JPY 4.5945 million (JPY 45 million x 10.21%) is withheld first; before agent fees and other costs, about JPY 40.4 million arrives. – He wants to remit the money back to Taiwan. Above JPY 100,000 the bank confirms his identity; above JPY 1 million the bank files a statement of overseas remittances with the tax office. – The account has not seen large movements in a long time, and this single deposit and outward transfer, together with a declared purpose that differs from the original one, may lead the bank to ask about the purpose of the remittance and ask him for supporting evidence. – He does not work at an office in Japan and has not been in Japan for six months or more since entry, so he is presumed a non-resident under FEFTA; for a single payment above JPY 30 million, he also does not need to file a payment report himself. – From February 16 to March 15, 2027, he files the 2026 capital gain through his tax representative, and the tax withheld is settled at filing.

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What he should do: before remitting, ask the bank which documents it wants to see, have the sale contract and settlement statement ready, and set aside funds for any additional tax that may be due at filing.

How Are Tax Records Related to the Remittance?

The amount credited will first be about a tenth lower. When a buyer in Japan pays a seller who is a non-resident under the Income Tax Act, the buyer must in principle first withhold 10.21% of the price. This is a prepayment of tax; you still have to file in Japan, and the final tax is settled up or down against the actual amount. The main article covers the cases where no withholding applies. When planning the remittance amount, deduct the withholding first.

Timing of the filing and the person who handles it. Income from selling Japanese property must in principle be declared in a final tax return filed from February 16 to March 15 of the year after the sale. If you live overseas, you must appoint a tax representative (納税管理人) who has an address or residence in Japan before you submit the return, and file the notification with the tax office; tax office documents are then sent to the tax representative. For how the tax is calculated, see “What Taxes Do You Pay When You Sell Japanese Property? Capital Gain, Resident Tax and Filing Responsibility”.

Remittance information goes to the tax office. For an overseas remittance above JPY 1 million, the statement of overseas remittances filed by the bank records the remittance reason. It is advisable to make the reason on the notification form, the sale contract and what you later file all consistent with one another.

Whether to keep part of the funds in Japan. If there is additional tax to pay when the return is settled, you will need funds to pay it; before remitting you can ask a tax accountant (税理士) to estimate it and then decide how much to send out. Conversely, if the actual tax is lower than the amount withheld, the difference is refunded only after filing; it is advisable to ask the tax representative first how the refund will be paid in.

Does a Seller Have to File a FEFTA Payment Report Personally?

First, check whether you are a resident or a non-resident under FEFTA, which is a different test from the one under tax law. Under FEFTA, a foreign national is in principle presumed to be a non-resident; a person who works at an office in Japan, or who has been in Japan for six months or more since entry, is presumed to be a resident. Under the Income Tax Act, what matters is whether you have an address in Japan, or whether you have had a residence there continuously for one year or more.

• If you are a non-resident under FEFTA: You are exempt from payment reports, and no report is needed for a remittance through a Japanese bank either.
• If you are a resident under FEFTA: For a single remittance from Japan to an overseas bank account above JPY 30 million equivalent, you must file a payment report (支払又は支払の受領に関する報告書) afterwards; when the remittance goes through a bank, the person obliged to report is you. A single remittance of JPY 30 million equivalent or less needs no report, and there are other exemptions.
• If the buyer pays you in Japan: When a buyer who is a resident under FEFTA pays you, a non-resident, within Japan an amount above JPY 30 million equivalent, the reporting obligation lies with the buyer.

As the rules currently stand, the FEFTA real estate report applies only to acquisition; there is no corresponding real estate report on a sale. What to watch for when remitting sale proceeds is the payment report described above and the bank’s checks.

**Example: Ms. Choi, an owner working in Tokyo**

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Ms. Choi is from Hong Kong and works for a company in Tokyo. After selling the apartment she lived in, she plans to remit JPY 50 million in one transfer to an account in Hong Kong. She works at an office in Japan and is presumed a resident under FEFTA; since the single transfer exceeds JPY 30 million equivalent, she must file a payment report afterwards, and she is the person obliged to report.

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Whether she is a resident under the Income Tax Act is judged separately, by whether she has an address in Japan; the 10.21% withholding applies only when payment is made to a non-resident. What she should do: before remitting, confirm with the bank how the payment report is to be submitted, and have a tax accountant confirm the tax side separately.

What Should You Watch for at the Receiving End in Taiwan or Hong Kong?

The Japanese Bankers Association (全国銀行協会) explains that under FEFTA, US OFAC regulations and other laws, remittances to some countries or regions are not possible, and for some countries or regions further details about the recipient or the source of funds must be provided when remitting. The explanation does not say which countries or regions; please check with your bank before remitting.

The remitter’s name and address, the recipient’s name and address, the recipient’s bank and branch name, the account number and other details you enter on the overseas remittance request form (外国送金依頼書) are passed on to the bank at the receiving end, intermediary banks, SWIFT and others. Before you fill it in, it is advisable to ask the receiving bank overseas for the correct way to write the account name and branch details, and to ask whether the receiving end needs an explanation of the source of funds.

Statements to Stop and Check

• “Officially, you must attach these documents to remit sale proceeds.” There is no such official list in Japan. What a bank’s website or counter lists is that bank’s own requirement, not a regulation.
• “After selling you must report the sale to the Ministry of Finance.” As the rules currently stand, the FEFTA real estate report covers acquisition only. What to watch for after a sale is the payment report, which applies to residents under FEFTA remitting more than JPY 30 million equivalent in a single payment.
• “If you live overseas, you will not be questioned about a remittance.” A remittance from Japan abroad above JPY 100,000 requires identity confirmation, and banks may also ask about the purpose and amount.
• “Split the remittance into smaller amounts and you will not be checked.” What the Financial Services Agency asks banks to check includes whether the purpose or amount is unreasonable for the customer’s circumstances and whether an account with no past history suddenly sees large movements; the thresholds are only part of it.
• “The 10.21% withheld is the tax, so you need not worry about it.” It is a prepayment, and you still have to file and settle in Japan.

In What Order Can You Prepare Before Remitting?

1. Before signing: Choose a tax representative; confirm that the Japanese account receiving the money is in your own name and that its registered details are current. For the sale process, see “How Do You Sell Property in Japan? Valuation, Brokerage Contract, Buyer Negotiation and Settlement”.
2. At signing: Confirm whether the buyer will withhold 10.21%, and ask the agent or judicial scrivener for a settlement statement.
3. After receipt, before remitting: Ask your bank which documents it wants to see; confirm whether a remittance from your own account counts as a specified remittance or whether a notification form is needed; confirm whether you are a resident under FEFTA and whether a payment report is required.
4. When remitting: Fill in the remittance reason according to the actual transaction, consistent with the sale contract; keep the remittance record.
5. February 16 to March 15 of the year after the sale: File the capital gain through your tax representative and settle the tax withheld.

How far to prepare at each step depends on your status under FEFTA, the state of the receiving account and the amount remitted.

FAQ: Remitting Japan Property Sale Proceeds

What documents do I need to send money back to Taiwan after selling Japanese property?

Japan has no official document list, and the actual requirements depend on the bank. The law requires the bank to confirm your identity and the reason for the remittance, and the bank can ask you for supporting evidence where necessary. You can start by gathering proof of identity, the sale contract, the settlement statement and the documents relating to your tax filing.

I live in Hong Kong. If I remit more than JPY 30 million of sale proceeds at once, do I have to report to Japan?

It depends on your status under FEFTA. Non-residents are exempt from payment reports, and so is a remittance made through a Japanese bank. A person who works at an office in Japan or has been in Japan for six months or more since entry is presumed a resident, and must report afterwards for a single remittance above JPY 30 million equivalent.

The amount credited was less than the sale price. Can I get back the tenth that was withheld?

The 10.21% withheld is a prepayment. It is settled through your tax representative by filing from February 16 to March 15 of the year after the sale; if the actual tax is lower than the amount withheld, the difference is refunded, and if it is higher, you pay the balance. You can ask your tax representative first how a refund would be paid in.

Glossary

• Foreign Exchange and Foreign Trade Act (外国為替及び外国貿易法): The law governing payments between Japan and other countries.
• Specified exchange transaction (特定為替取引): A remittance for which FEFTA requires the bank to confirm the customer’s identity; it excludes small remittances of JPY 100,000 equivalent or less.
• Notification form (告知書): The document submitted to the bank for an overseas remittance, stating name, address, individual number and remittance reason.
• Specified remittance (特定送金): An overseas remittance transferred from a Japanese account in your own name whose details the bank has already confirmed; a notification form is not needed each time.
• Statement of overseas remittances (国外送金等調書): Information a bank files with the tax office for a single overseas remittance above JPY 1 million.
• High-risk transaction (ハイリスク取引): A type of transaction defined in the Act on Prevention of Transfer of Criminal Proceeds that banks must check more closely.
• Payment report: A report that a resident under FEFTA must file afterwards for an international payment above JPY 30 million equivalent in a single transaction.
• Tax representative (納税管理人): A person who handles Japanese national tax filing, payment and receipt of documents on behalf of a taxpayer living overseas.

About the Information

• The information was checked as of September 30, 2026, and is based on FEFTA, the Foreign Exchange Order, the Act on Prevention of Transfer of Criminal Proceeds and its enforcement order, the Act on Submission of Statements of Overseas Wire Transfers and its enforcement order, the Act on General Rules for National Taxes, and official documents from the Ministry of Finance, the Bank of Japan, the National Tax Agency, the Financial Services Agency and the National Police Agency; the explanation for the receiving end comes from the Japanese Bankers Association.
• The official materials do not list documents for remitting sale proceeds. The table in “With No Official List, How Do You Prepare Documents?” organizes preparation directions based on the legal confirmation items; the sale contract and the settlement statement are recommendations, not the official or any bank’s list.
• The following conclusions are drawn from official documents; none of them is stated in a single sentence in an official source: that FEFTA has no real estate report on sale (the provisions reviewed and Ministry of Finance materials set out reporting only on acquisition); that when a buyer who is a resident under FEFTA pays a non-resident seller more than JPY 30 million equivalent, the reporting obligation lies with the buyer (inferred from Article 55 of FEFTA and the Bank of Japan’s explanation of who is obliged to report); that a remittance from your own account is a specified remittance and needs no notification form each time (from a reading of the provisions of the overseas remittance statements act); and that about a tenth less arrives after withholding, with the difference settled up or down at filing (inferred from the withholding rate and the National Tax Agency’s explanation of refunds on filing).
• The Japanese Bankers Association is an industry body; its explanation is not a regulation, and it does not specify which countries or regions must provide source-of-funds information. The Financial Services Agency’s checkpoints are requirements on banks; the explanation of the Act on Prevention of Transfer of Criminal Proceeds follows the National Police Agency’s outline as of August 7, 2026.
• Things that may change: the name of the tax category for the 10.21% withholding changes from 2027, while the combined rate stays the same; FEFTA’s identity confirmation methods and the documents a non-resident may show depend on the Ministry of Finance ordinance and each bank’s current requirements.

Have a question about this guide? Leave a comment below, or ask Zagdim directly.

Sources

• e-Gov法令検索－外国為替及び外国貿易法
• e-Gov法令検索－外国為替令
• 財務省－よくあるご質問「日本と海外との間の送金を行う際に必要な手続」
• 日本銀行国際局－支払又は支払の受領に関する報告書 FAQ
• 財務省－外為法に基づく不動産取得報告 よくあるご質問（FAQ）
• 財務省－非居住者による本邦の不動産等取得に係る報告 制度の概要
• e-Gov法令検索－内国税の適正な課税の確保を図るための国外送金等に係る調書の提出等に関する法律
• e-Gov法令検索－同法施行令
• 国税庁－国外送金等調書（同合計表）
• 金融庁－金融機関等における送金取引等についての確認事項等について
• 金融庁－金融機関窓口や郵送書類等による確認手続にご協力ください
• e-Gov法令検索－犯罪による収益の移転防止に関する法律
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• 全国銀行協会－外国送金するときの個人情報の取扱いは？
• 国税庁－タックスアンサー No.2875 居住者と非居住者の区分
• 国税庁－タックスアンサー No.2878 国内源泉所得の範囲
• 国税庁－タックスアンサー No.1932 海外勤務中に不動産を売却した場合
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• e-Gov法令検索－国税通則法
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• 国税庁－タックスアンサー No.3258 取得費が分からないとき

Important Notice

This article is a general summary of information and is not individual legal, tax or financial advice, and does not represent the acceptance standards of any bank. The information was checked as of September 30, 2026. Rules and bank requirements may change; please rely on the current announcements of the Japanese authorities and the explanations of your own bank, and consult a qualified tax accountant or other professional where necessary.