NoDisplayName

Not necessary. I'm shirley, not offended.

The bemusement might be that you are likely the first person ever in the history of the multiverse to submit ATM receipts and credit card statements when filing a null tax return. Just keep it simple, since your situation actually is. Your taxable monies are all from assessable pension and dividends remitted throughout the year. They don't need details of each individual transaction. Simply provide total assessable pension remitted, and total assessable foreign dividends remitted. You could supply a spreadsheet with all the amounts remitted if you choose, but don't indicate HOW they were sent -- just date sent, $ amount sent, and baht received. If they want more info, they'll ask. All that really matters is the total, as the individual transactions won't be entered on the tax form. And that won't be needed unless you're audited, which is unlikely. They're not going to question someone claiming assessable (taxable) income. After all, they don't question foreigners filing returns with zero declared assessable income. Here's the drill: -enter assessable pension in the (derived from) income block. -enter assessable dividends in the foreign company dividends block. -check the 60K individual allowance. -enter (50% up to 100K) in the pension allowance. -enter 190K on the allowances form if over 65 or handicapped. (separate paper form, but automatically rendered online) Run the calculations, tax due should be zero. Sign it, hand it over or push the "submit" button online. ***OPINION ONLY. NOT ADVICE.***

Strawman?

The only thing that changed is that hundreds of thousands, perhaps millions, of Thai citizens and foreign tax-residents have filed their 2024 tax returns omitting declaration of NON-assessable remittances. How 'bout you, hmm?

Reading comprehension. Eight months ago was July 2024. Last time I checked, 2025 was not Maybe try reading posts before replying. Similar concept to watching entire videos before posting a quote-mined cherry you've picked. As soon as you file your return.

You want examples? I have 2016, 2017, 2018 filings in Bangkok, none listing non-assessable remittances, all approved and refunded. I have 2021, 2022, and 2023 online filings from eight months ago, none listing non-assessable remittances, all approved and refunded. I have my 2024 tax return filed online three weeks ago, not listing non-assessable remittances, approved, with refund pending upload of bank withholding statement. YOU have an incorrect, penciled-in "draft" of a tax form from an uninformed underling in a backwater tax office, that you won't be able to file online, as the system will reject it as defective. Much like your arguments here have been rejected as defective. Come back after you've successfully filed a tax return, declared your exempt/non-taxable/non-assessable remittances, deducted your exempt/non-taxable/non-assessable remittances in the non-existent space, claimed your foreign tax credit in the non-existent space, Or you can continue to cherry-pick and quote-mine YouTube videos you think support your crusade, and wait for those new English forms to emerge from the quantum realm 12 parsecs before completing the Kessel Run. Good lucky.

My Thai brokerage wants a new FATCA-related IRS Form W-9 every January.

Well, he can list his non-assessable remittances on his Kenyan tax return, in accordance with bizarro world CRS rules. In Thailand and Singapore, we don't declare non-assessable remittances. But that is all speculation. The poster of which you speak has only ASSESSABLE income to declare. He can declare it on the tax form in the prescribed location under section 1(1), on the form, income derived from employment, he can take his 60K deduction, on the form, he can take his 100K pension allowance, on the form. He can pay his tax by bank transfer from within the system while filing. Fortunately, the poster did not pay tax on that pension in his home country, else he'd have a tax credit with no place on the form to claim it. Dodged a bullet there! He can't file in CRS land without a Kenyan tax ID number, and those are difficult to attain without being a certified Nigerian prince.

Jeeze, man, this ain't rockette seance! I'd expect this from CRS guy, not you. Thailand is implementing CRS this year. The banks have to get THEIR records in order. That means all non-Thai customers will have to fill out a form. New customers first, then existing customers. It's only Kasikorn for now. The other banks will get around to it, eventually, when they get around to it. After all, Thai banks are not known for their efficiency. Other countries are on different timelines.

In that case, either: 1) Download the 2023 English form with year conveniently left blank, fill in "2024", then fill out as normal, declaring assessable income only, and mail in or take in person. 2) Use the online system and submit a Thai language 2024 form, declaring your assessable income, then from within the system, link to your bank account and transfer the tax due.

You don't understand. It's a CRS paperwork drill. You need to fill out a specific form so that the bank can check their tickbox. I show my passport when I open an account. Still have to fill out the IRS form though. All banks should be having NEW account openers filling out the forms upon opening. Banks will be having OLD account holders filling out the forms throughout the year. They don't all have to have the OLD accounts done now, but before some cutoff date. Some banks will get around to it sooner than others. I anticipate BKK Bank sending me CRS forms sometime this year, even though they have my passport AND my FATCA paperwork.

There effectively haven't been any changes, unless you remit current year assessable income. We still decide which remittances are assessable. We still decide if we are required to file a return. We still file only if we wanna. TRD still accepts our null filings without question. All that remains the same, despite Kenya signing the CRS treaty. An American remitting 100K baht of exempt social security benefits every month is still where he was last year. No need TIN, no need file.

I din't say that. I said it's up to us to be good second-class non-citizens and file, that it's an honour system, and we self-determine assessability. TRD isn't likely to be receiving full bank account reports on all foreigners. I'd expect they might get some flagged accounts due to suspicious activity or unnatural cash flows. In that case, ya might be called in for an interview, and if you can show your deposits are legitimately non-assessable, off you go. If not, you may be assessed tax. If you don't need to file, don't, but keep good records. If you are required and don't, you'll probably not be bothered, unless your account activity is particularly irregular. They have audits, and following a failed audit they have fines and fees, and persecution for non-payment. Might even involve jail time.

As property of Uncle Sam, I've had to fill out IRS "know your customer" forms due to FATCA since forever. You're just getting the same treatment. With Thailand, along with Kenya, implementing CRS, all new accounts will have to fill out CRS/FATCA paperwork, and all the banks will be going back through existing accounts to have account holders fill out the CRS papers. Some sooner than later. Not all the banks will be on the same schedule getting the CRS forms to their existing account holders.

I'd like a clean disconnect, with nothing from the IRA side affecting any other accounts. IRA withdrawal is done in 2024 solely under IRS rules. Fund sales in 2025, from investment the previous year, and nothing remitted. Remittance in 2026 has nothing for to point to in that year's 1040, and would have to go back to previous year showing nothing but individual account investment activity. Seems perfectly legal under the current tax code.

If ever questioned, short term is under a year, long term is held longer than a year, and spans multiple tax filings...........much more complicated, much more work to track down what it is exactly. Operating a remittance-based taxation system that spans years (or decades for retirement accounts) is crazy.

You seem to know your way around the tax code. Could you consider this..... What happens when I withdraw $10K Roth IRA in 2024? It's not taxable by the US, and isn't covered by the DTA. If I remit to Thailand, it would likely be considered assessable. (Not getting into separating gains from original capital at this point.) If I do not remit, then not assessable. I can move that $10K to a separate account, invest that in $10K of xyz fund. In 2025 (366 days later), I sell my entire holding of xyz fund for $11,000. Uncle Sam says I've earned $1K in long term gains, which I will claim on my 1040 and pay the appropriate tax. I now have $10K of original capital and $1K of gains sitting in its own private separate account. What happens when I remit that to Thailand in 2026? It no longer has any relation to the Roth IRA from the year prior. Uncle Sam has just taxed my capital gains. It's now just $11K cash in my account, $1K of which is current year income, with a potential foreign tax credit to claim against whatever Thai tax I pay on bringing in $1K of assessable income. My 2025 1040 shows a fund sale, with tax paid on $1K long term gains (I waited 366 days before selling).

THAT is the CRS boogerman some have been harping on about. You are required to confirm your identity to your financial institution where you have an account, and to declare any other countries where you fall under their tax jurisdiction. That's it. Done.

Are you sure about that? According to the handout from Chiang Mai TRD, foreign documents must be certified by the Thai embassy in Thailand. Remember, we've been assured that TRD folks don't make misteaks.

Your low level Pak Chong back of beyond TRD lady was wrong. Simple as that, and was too embarrassed to admit it. You din't file, so this is all speculation that you could file that return and have it approved. Try it!

Speaking of horning shoes, how did YOU shoehorn deducting non-assessable income from your declared remittances prior to calculating tax? How did You take a tax credit for foreign tax paid? Oh, I forgot..............................You haven't filed.

Tax resident, remit assessable income after Jan 01 2024, it is assessable income, is included on tax returns, figures into PIT calculation, and is potentially taxable. Tax resident, remit non-assessable income after Jan 01, 2024, it is non-assessable, is not included on tax returns, does not figure into PIT calculations, and is completely exempt from taxation.

The way the game is currently played is the reverse. How would TRD know you have assessable income unless you declare it?

That seems to be about it. Few reports, if any, of anyone being questioned on that and having to produce documentation. For most instances, when the TRD lady asks if your remittances were "salary or pension", you say "savings" and that's the end of it. This is a new world order now, and Kenya has signed up for CRS, so who knows what will happen. Someone remitting a million baht every two months might somehow get on the TRD radar, and be questioned about their null tax return. At that point, they may need to provide more than their assurance that it was prior savings. Hasn't seem to have happened yet.

QA sessions are necessarily generalized. Wouldn't the assessability of retirement accounts depend on specifics? Blanket statements from Interviews on stage, off-the-cuff, can't cover all the possible factors. Regular IRA's are pre-tax contributions, so never taxed at source, but the withdrawals are taxable. Wouldn't you at least have a potential tax credit, even though you can't apply it on a Thai tax form? Roth IRA's are post-tax contributions, with tax-free withdrawals, so you do have a cost basis you can separate from gains, potentially making only the gain assessable. But then, I've converted my standard IRA to a Roth, so where does that stand? I'm not a tax advisor, nor have I stayed at a Holiday Inn Express recently.