mudcat

This can be an issue if the 'brokerage' account is actually a retirement account (401K, IRA 403B), and maybe even Roth IRA. https://www.irs.gov/retirement-plans/plan-distributions-to-foreign-persons-require-withholding

Two years with our Veloz next month. The jump seats (6th and 7th passengers get used once a month or so). Appreciate the isofix latching for up to two child car seats and the side airbags for rear seat passengers. Dislike the aerodynamics that collect dust on the rear window up here in the northeast, may not be an issue where you live. The Veloz replaced a Chevrolet Spin which was orphaned by Chevrolet leaving the SE Asia markets. When I received my LTR visa my ThB 800k retirement visa account We looked at other alternatives and settled on the Veloz. Did not consider any Chinese EVs, but if we were looking today we would consider a Yaris Cross HEV.

We will visit with the same manager we spoke with and worked through our plan with last summer using the same statements and TRD documents in Thai and English.

Both my wife and myself needed to close out our JPMorgan 'AutoInvest' accounts at the end of 2023 as JPMorgan was not continuing the product. Everything went into our joint checking accounts at Chase and on to our individual brokerage accounts so we have a clear pre-2024 savings trail. We will be each wiring the exact pre-2024 balances (>$25,000) to Thailand once our T-Bills matures in early December. On the wire form's 'Message to Recipient Line' we will add: "Pre-2024 Savings Remittance Exempt per TRD No. P.162/2023" Once the wires are in and dealt with we will visit our local TRD provincial office with all of our documentation to close the loop we started when we visited them late last summer. This will clear up some remittance and inheritance complications for my wife as we will consolidate the balances in the two brokerage accounts into a single account under my name where she is the primary beneficiary.

As far as I know Thailand does not recognize trusts but there is a provision called "controller of property" in our wills my wife have used to protect what we would leave to our grand daughter. As we do not trust her parents or our in-laws with a chunk of money we named a cousin who successfully got his child through university and launched

Actually it it is a ten-year visa and it is stamped as such. The first permission to stay stamped for five-years and is what gets extended and then stamped to match the visa. No cost but a visit to BOI One Stop Service Center to have it stamped.

I have not had any contact with BOI about accepting a Roth IRA balance for the $100,000 substitute for a "Bank" balance in lieu of a foreign or Thai health insurance policy and do not plan on raising the issue with them until my recertification in three-years. I continue to maintain a Thai health insurance policy as fallback, but given the nature of Thai insurance companies, the 25% discount for a 40K ThB deductible and a 3-year no claim discount keep the policy affordable (to me) so it can serve as a major medical policy. As mentioned before, my Roth statements have a three-year look back chart on the first page and every December statement shows there have been no distributions or contributions in that calendar year under "Retirement Contribution and Distribution Summary" or something similar demonstrating that increases and decreases in the balance are the result of market movement and not me drawing down my balance, and as a retiree, I cannot contribute to it, so it is a lump of money that earns returns (or absorbs losses) under my brokerages 'private client' advisor scheme. I am fortunate in that between my Social Security benefit (direct deposited here) and my government pension paid into my U.S. checking account, I have not needed to withdraw from my Roth IRA The Roth serves as the principal asset I will be leaving to my wife if I pre-decease her or split between two educational institutions (a daycare center I taught at in the 1970s and the graduate school I attended in the 1990s) should she pre-decease me.

My plan if things go south with my too big to fail bank because I live here is move everything over to the State Department Federal Credit Union https://www.sdfcu.org/. One needs to become a member of an affiliate organization but it seems a better option than cashing out retirement accounts.

If you have an air conditioner try the fan only at lowest setting.

I would like to add some clarification to the discussion about Social Security benefits for Thai spouses who are US citizens or who lived in the US for a minimum of five years as a permanet resident. Thai (and all) spouses collect spousal benefits first based on their US work (if any) and can collect an additional beneft as a spouse only if their spouse has already filed for benefits. Spousal benefis are a maximum of 50% of your Full Retirement Age benefit and can be applied for beginning at 62 years old that subject to a reduction of as much as 30% for claiming before your spouse's full retirement age (for most today 67 years old). It is important to apply for this benefit as soon as eligible as it establishes your spouses eligibilty and payment details while you are around to assist her in the application, as the spouse benefit converts to the higher survivor benefit automaticaaly when you die. The survivor benefit is a much more important, as it is designed to replace the portion of the family income that came from your Social Security benefit. Your spouse can claim beginning at 60 years old, again taking a reduction for claiming prior to their full retirement age, and is capped at your benefit as reduced by your early rerirement if you took it (RIB-Lim or widow's limit) Your children can claim a smaller but still significant benefit up until 16 years old so long as you filed with embassy or their US citizenship. Both your spouse's spousal benefit and her (but not your children'' benetits) are compromised if your spouse re-marries before she turns sixty - the spouse benefit disappears but her survivor beneft can be re-established if tha marriag ends. I have cautioned my wife that even a village my put her benefits at risk. To ease the way forward for my wife I have pre-filled out the spouse, survivor, and death benefit forms so she has the required information and documents at hand during the telephone application with the Federal Benefits Unit attached the embassy in Manila. I update and we review these forms fogether every year and have draft emails to the Bangkok embassy and the Manila FBU to send after I die.

Downoad the form SSA-1199-OP107 using a google search to get a current form.

https://www.rd.go.th/english/37749.html#section42 Section 42 The assessable income of the following categories shall be exempt for the purpose of income tax calculation: 13) Compensation against wrongful acts, amount derived from insurance or from funeral assistance scheme.

https://www.ssa.gov/international/AlienTax.html This applies only to non-resident aliens, not dual nationals. Makes me glad I insisted that wife get her U.S. citizenship before moving here. Similar 30% withholding applies to retirement account distributions as taxes are generally due on withdrawals: https://www.irs.gov/retirement-plans/plan-distributions-to-foreign-persons-require-withholding

I am not sure and my browsing history does not real a source. I was looking for tm61 not locked to Bangkok at the time.

Note the URL - https://tm47.immigration.go.th/tm95/#/login Of course it is down for system maintenance. The ordinary tm.47 website for reporting is up and running: https://tm47.immigration.go.th/tm47/#/login