JohnnyBD

Just a word of caution. If you change your address at Fidelity to a non-US address, Fidelity may put restrictions on your account. I changed my address to Thailand a few years ago and Fidelity restricted my account, so I changed back to my US address.

It appears the OP's accountant made a ruling that his pension was non-assessable and did not declare it on his tax return. If that is the case, TRD would not have been aware of his pension.

If you leave Thailand and re-enter before the 1-year LTR reporting date, does the 1-year reporting clock reset when you re-enter? For example, my paper states I should do my 1-year reporting in July 2025, but I left the country and will re-enter on Feb 22, 2025. Will the 1-year clock reset to Feb 22, 2026 even though airport IM does not give me a new paper, or should I go report in July 2025?

When a LTR visaholder re-enters Thailand, will airport IM staple a new piece of paper which shows a new 1-year notification reporting date from the date of re-entry?

Thanks. One more question. Will they give me a new paper stapled in my passport with a new report date of 1- year from re-entry?

Just a question... If you get a stamp upon re-entry, you will reset the LTR 1-year reporting clock, correct? If you don't get a stamp, will the clock still be reset, even if you don't have a stamp to prove it when you go to IM? I will return in a few days, so I thought I needed to get a re-entry stamp stating my next report to IM would be in 1-year. This is my first overseas trip since I got my LTR, so it would be nice to know how it works.

I send USD via SWIFT wire transfer method directly from my US Chase Bank checking or savings accts to my Bangkok Bank USD acct. Chase Bank does not charge me an outgoing wire fee due to my relationship level. Bangkok Bank charges an incoming wire fee of .25% with a min. 200B and max 500B. I can hold the USD in my Bangkok Bank USD acct until I'm ready to convert it to my THB acct, which can be done online during working hours at the current TT rates. If I need money quickly, I just use my Chase Bank debit card at an ATM. The conversion rates seem to be pretty good. Yes, I login to my Chase Bank accts from Thailand and make the wire transfers.

Thanks for pointing that out. I see where that could be a problem if one is trying to prove how many days one stayed in-country. I still use the fast track/priority area and IM stamps my passport, so it's easy to prove my time in-country.

Your local immigration office can supply paperwork showing this information. Thai airport IM will stamp your passport when you leave and again when you return, the same as any other visa category. That's the proof of how many days one stayed in Thailand. Am I missing something?

Yes, it's that easy. It all magically disappeared when I received my LTR-WP visa. BOI informed me in writing that all my foreign income is tax exempt and I do not need to file a tax return. TRD & IM are two of the gov't agencies that had to sign off on my LTR visa. No more worries. Good luck to you.

Sure. All they will have to do is prove it to the TRD, or, no certificate for their extension. What's unworkable about It can be very difficult to prove a negative. No, I didn't remit any monies. Prove it. How? Go to every bank in the country to get a statement that you don't have an account with them. No, I didn't make any ATM withdrawals using a foreign bank debit or credi card. Prove it. How? That's unworkable. Luckily, I do not need to go to IM for another 5 years with my new LTR visa.

I'm not sure TRD will give you a credit against your Thai tax bill if you paid taxes on your income in your home country. For example, I will pay taxes in Apr 2025 on all of my US income for tax year 2024. If I remitted some of that income to Thailand in 2024 and I owe taxes to TRD (by Mar 31), then the US will give me a tax credit against my US tax bill (using form 1116) when I file my US tax return in Apr 2025. That is what I have been told by several others on this forum. If you find out different, please let us know.

Probably because most foreigners living here do not qualify for a LTR visa. I'm very content with my LTR-WP visa.

I would file in Thailand before Mar 31, then file in US before Apr 15, and claim the tax credit using form 1116, instead of waiting until 2026. Your choice I guess. I'm not sure of the proper way to do it.

From what I understand, if you pay income taxes of 10k THB in Thailand on assessable monies remitted, you should be able to get a credit for that amount on your US tax return by filing IRS form 1116 (foreign tax credit). Who told you your income taxes in Thailand would be zero if you paid income taxes in the US? That doesn't sound right.