JimGant

Actually, this is estate planning-- taking in the wife's abilities of filing taxes and obtaining 1099's online -- and the cost of hiring a tax preparer (as previously discussed). With her income -- an Air Force survivior benefit, a social security payment, and required minimum distributions (RMD) of fixed income IRA's -- it's easy enough to tell her what number for withholding to provide for her W4s on the Air Force payment and Social Security -- and what percentage to withhold on the RMDs, to include a buffer to cover bank account and savings interest, including that in Thai banks. I've already discussed the savings of this method over hiring a tax preparer -- and the less hassle for the wife. Anyway, admit it sounds bizarre. However, not originally my idea -- I learned of it from a retired CPA online association I belong to. Not for everyone, of course. But for wives with limited support fallback, and limited IT and tax skills -- this plan might be worth considering.

Ok, if you get an O-A but never put 800k in a Thai bank and never apply for an extension, then you're an O-A tourist -- having some perks you wouldn't have on an ordinary tourist visa. But, if you apply for a one year extension off of your O-A visa, either using 'marriage' or 'retirement' as your reason -- and whether or not you use the 800k in bank method, or monthly income method, of income letter from your embassy -- you're an O-A 'long stay' person. Please re-read the title of this thread....

Not for my wife. If I croaked, she wouldn't have the foggiest of how to do taxes, even with software. And being computer challenged, she'd have problems downloading 1099's, as it seems we're not far off from all paper copies being history. And, if you check out the fees of tax preparers, like the one advertised on this forum, the cost is somewhere around $400, for a bare bones return. No, even tho' you're supposed to file if your AGI is greater than your standard deduction -- meaning you have a 'taxable income' (TI) -- if you've overwithheld/paid estimated taxes in excess of tax liability, you have no tax libility -- and no reason (or requirement) to file -- unless you want the tax refund due, in which case you have three years to do such, with no fee for late filing. But, I can set things up for the wife that has withholding cover all her tax liability, with a margin of $100 or so of over withholding. So, she can forget filing taxes -- and forget collecting all 1099 info and packaging it up to send to a $400 tax preparer in Bangkok (there are no longer tax preparers in Chiang Mai that I can discern, but if so, why would I want the wife to package up 1099's to drive to his office, to pay $400........) Just trade $100 of over withholding for the hassle of collecting tax data to present to a $400 preparer. Nice $300 profit, with less worry and hassle. And if an errant US nephew, with tax filing smarts, arrives on a later visit -- get him to file for the over withholding "loan" to Uncle Sam. The IRS does mash the 1099 numbers to see if the withholding covers the taxable income (and they add any estimated taxes you may have paid). So, if all your tax data is covered by 1099's -- and you've taken enough withholding/estimated taxes, you won't get a tax return prepared by the IRS (yes, if their data shows under witholding not made up by estimated taxes, they'll send what they see as the tax return you should have filed. But, they give you time to modify their tax return, say, because you have a foreign tqx credit they, of course, would know nothing about). But, for the situation for my wife, all income on her 1099's will have more than sufficient withholding; thus, no correspondence from the IRS.

What a goat rope. If you're a Yank just declare the Thai withholding tax as a tax credit. Don't even need the Form 1116 (but, no big problem if you do) if filing jointly -- $600 in withholding, filing singly, $300. Yes, the rules say, if you can get the withholding refunded, you're prompted to do so. However, if you ever got a letter audit (unlikely), you'd just say: "Was advised by a stalwart group of expats on TVF that, without a work permit, I would be denied a tax ID, thus no refund of withholding." Anyway, this is all fanciful, as you'll never be audited for such a situation, particularly with such a paltry amount. Plus, the right people are keeping your tax receipts (tax treaty gives Thailand first dibs in this situation). And you're not evading taxes -- just pointing them in the right direction. Why, then, as a Yank would you subject yourself to the time and procedural hassles highlighted above?

I'm in a similar situation. Got my LMG insurance the last age allowed, i.e., age 75. Renewed at age 76. And, since I've never filed any claims, assume renewing at age 77 and onward is pretty much assured. But I really don't want to renew with the premiums quadrupling with the 3M Covid coverage. And, if I can show a denied application, I guess I could then switch to self insuring, or in my case, using my home country insurance. So-- just cancel my current LMG policy; then reapply, and be denied, 'cause I'm age 77. Weird way to do business, but this TGIA business has always been weird.

That, of course, would depend on your financial situation. Are all your investments pure gravy, meaning, you live very comfortably on your pensions, private and governmental? If so, you'll be equally happy by being totally in a mattress, or totally in securities, or other risky areas, like crypto. Nice position to be in, i.e., not needing to be somewhat risky because you don't need a cash flow from your investments to live comfortably. So, for some lucky retirees, being totally risky, or totally conservative -- or in between -- are nice options to have.

Interesting. The health care in Thailand certainly beats -- or is at least as good as -- what I got in Alexandria VA -- at least at Bumrungrad and Bangkok Hospital (why is Thailand at the head of the medical vacation destination....). And while expensive, by Thai standards -- their charges have come in well below Medicare allowed charges, and I've never had anything denied or reduced; thus my military (Tricare) health policy works as well, if not better, than in the States. But a large factor in our (Thai wife of 42 years) decision to move full time to our vacation home in the Chiang Mai countryside -- was Long Term Care. If you didn't buy a US LTC policy at a younger age, the out of pocket cost to live in a LTC facility is pretty darn steep in the US. And if we had kids, which we don't, putting the life style crunching burden on them to change our diapers would be unthinkable. Now, in Thailand, hiring a couple of bed pan nurses, to live in one of our many extra bedrooms, would be easy to afford. Or, for a more serious situation, there are more and more LTC facilities popping up in Thailand -- and we have one just down the road. Anyway, Thailand certainly is a better fit for us when it comes to health care and Long Term Care. And, even if the wife goes first, I've no parents, siblings, kids, or close nieces and nephews to go back to. The wife's family here has now become the relatives of choice. Obviously, different situation than for some others. But what is sad is my observation of expats here in Thailand (and probably everywhere) -- many are terribly cynical, about the home country they left, and now about living in Thailand. These are folks with the 'grass is greener' syndrome, who will apparently never be happy with their latest decision. The glass is perpetually half empty. Fortunately, with my many military moves, I've always appreciated the positives of wherever I ended up. And Thailand has been the easiest to appreciate, with a glass 90% full.

As you say you're renewing a retirement extension off of your O-A visa, did you try to renew your TGIA 40/400k insurance policy? If so, presumably this was denied and you had to renew at the 3 million coverage.....? Which insurance company and how big a jump in the premium? Thanx.

Doubtful. The successful international investment firms enhance their bottom lines with an eye more on realpolitik than on human rights. Such firms don't blatantly stiff arm human rights; but they do recognize that strong anti-sedition laws, like in Malaysia and Singapore, prevent unrest not condusive to stable manufacturing. And then there's Vietnam. International investment there certainly isn't thwarted by their human rights position, at least by businesses that would get my nod for stock purchase. And Vietnam certainly pushes back against organizations like AI. Realpolitik indeed -- by successful businesses.

Someone on this forum said LMG is now only offering 3million baht policies, new or renewal. Do you have LMG?

Exactly what I've paid here in Chiang Mai for the last four years. All copies, photo with blue background, etc. And includes a ride to the airport to avoid parking hassles. Even instigated the renewal of my OA medical insurance with LMG. My only job was to get the bank statements and passbook update. Granted, things have gotten so much easier here in the last few years, whereby do I really did need a hand holding agent.... Will reevaluate such service next cycle.

For $800, I presume Siam Legal is fronting your financial requirement with Immigration? Otherwise, paying that much makes no sense. I have no problem with the financials, but just wish agents could do the 'wink wink, nod nod, brown envelope' trick with Immigration when it comes to the OA insurance requirement for retirement extensions. Of course, this would cost the TGIA mafia, so it looks like their corrupt muscle is larger than that of visa agents.....

Ah, so LMG is still renewing the 40/400k policies. Good news.

Ok. I was looking at it from strictly the US tax filing angle.

Well, you probably had everything you needed at the beginning of 2021, when the SSA sent you (or you could obtain online) what your payments would be for 2021 (and what tax withholding, if any, would occur). If you file electronically, and you already have the required numbers, no 1099 required. And even if you file a paper return, no copy of 1099 required UNLESS there's withholding involved. Anyway, most of us could do our taxes without receipt of 1099's -- just that it doesn't make too much sense, since the IRS is so slow in accepting tax returns.

No You will only need the one year 400/40k baht insurance valid for a year. Need some clarification. Someone a month or so ago reported that LMG Insurance no longer offers the 40/400k OA extension policy, but now only offers the one year 3Million covid policy. If true, this suggests LMG will not offer split policies, so now it will only offer the the one year 3M Covid policy if such policy extends past Sept 1, 2022 -- when the 3M Covid coverage is slated to take effect. Anyone out there encountered this when recently trying to renew their OA retirement extension LMG policy? Or any of the other 13 TGIA OA insurance companies? Seems unfair to charge for the 3M Covid coverage for those many months prior to Sept 1st, when it's not yet required (premiums increase fourfold). But, of course, the whole TGIA mafia requirement is corrupt er, unfair, so not much new here.

Interesting. I used the new system back in Dec, and 90 day clock began on date of submission, not on previous due date's expiration date.

Huh? The white Western crowd I run with have no problems with the Thais. But, they are all well mannered, well groomed, and cleanly dressed. I'm trying to imagine what you look like -- tattoo on forehead? Nose piercing? Dirty clothes? Rude? Why are you treated by the Thais any differently than my crowd? Dunno. Have a feeling that you, and all the other cynics on this thread, live with a half glass empty mentality wherever you live. Life's a lot more rewarding when you emphasize the positive. And there are certainly a lot of positives for retirees in Thailand -- as I'm sure the silent majority on this forum realize.

When every Republican has been vaccinated?

Not notifying Manilla when I moved to Thailand on extended vacation, or forever, was just a simple case of not adding some additional bureacratic phone calls and correspondence -- and then have the MySSA account subject to restrictions (e.g., can't change direct deposit info). If it ain't broke, don't fiddle with it. I was already getting SS retirement, having it direct deposited in my US bank, and I already had a MySSA account. All's I needed to do was update my mailing address on MySSA, as they request you to do, so I just changed my US physical address, now sold, to my mail forwarding address. So, I remain contactable. Same address with the IRS, as they too allow mail forwarding addresses. Of course I did this using my understanding of the law (which, of course, is not everybody's), namely, I was not required to notify the SSA of my move to Thailand, since such a move in no way affected my right to full retirement checks. I kind of looked at it as someone who retired, sold his house, moved into his RV, then spent his remaining years driving around Canada. What address, other than his mail forwarding address, is he going to provide the SSA? The SSA makes their wording a bit cloudy about requiring notification of a foreign move. I'm sure this is intentional, as they do want to keep tabs on SS recipients living abroad (after the big scandal awhile back of all those Filipina wives living off their dead husbands' SS checks). So, I agree with the Form 7162 concept, but it's just not needed in my case, since the wife has to tell the Air Force when I die (to get her survivor benefit allowance), and they have to tell the SSA. Thus, I adhered to the spirit of Form 7162 without opening up myself to unnecessary further bureaucratic goat ropes and paperwork. As a poster has aleady said: Keep it simple.

Talk about a circle jerk..... You've moaned that it's "fraud" if you don't report your move to Thailand to the SSA. My post, above, iterates that your legal responsibility to report address changes to the SSA is only if such changes affect your eligibility to receive retirement benefits; which a move to Thailand clearly does not. What's so hard to understand? Are you still erroneously focused on reporting address changes while receiving SSI? Suggest you pick a new cause celebre.

Moving to Thailand does NOT affect your retirement benefits -- only SSI and disability benefits. Thus, no legal obligation to report your move to Thailand if retirement benefits are what you're receiving from the SSA. But, yeah, move to North Korea or Cuba, you're now obligated to report such a move, as you're no longer eligible for benefits as long as you remain in those countries.

Oh, get off this silly agenda. There already was a thread with a vigorous discussion on this subject: but, apparently, because too many people asked for a link to your unsubstantiated accusations, you asked the mods to shut the thread down, which they did. Too bad, as some good info was being devolved, including -- importantly in my estimation -- that folks were confusing reporting requirements for SSI recipients as the same for those getting SS retirement benefits. Anyway, I won't repeat from that thread; instead, read here: https://aseannow.com/topic/1219672-usa-topic-expats-telling-social-security-they-live-at-a-us-address-is-that-fraud/page/2/#comments I've never presented myself as a US resident. When I sold my US residence, I got a mail forwarding address in Texas, which I plugged into my profile on MySSA, which asks for "Mailing Address." It then asks if this is my residential address, to which I indicated 'no.' Thus, no misrepresentation. And certainly no FRAUD, which implies faulty information leading to unauthorized payments. Only if I was on SSI, or had moved to Cuba-- and not reported this to the SSA --would there be unauthorized payments dictating fraud. The taxpayer's not out of a dime by my indicating on MySSA that my mailing address is in the US. [And no place to indicate physical address, which is probably a nod to full time RVers.] Thus, no fraud. The simple answer to all this dialogue is: I had an MySSA account established before moving to Thailand; was drawing SS before the move; changed my address on MySSA to mail forwarding address when physical residence sold; and then no need to notify Manilla, to muddy an already simple situation. I guess some would argue that I needed to do this, but my reading of SSA instructions is: "Only if profile changes that would affect your payments" And moving to Thailand doesn't fit that dictum. Same as if I lived full time in an RV in Canada. Anyway, too much info, I'm sure, for OP. But here's another thread that might help your decision: https://aseannow.com/topic/1207540-want-to-start-collecting-usa-social-security/

If it's a US passport, my renewal here in Thailand took two weeks. Others on this forum have reported similar results.

Based on my experience with LMG, my policy began when I was aged 75 years, 8 months old. My premium was for age 75, no pro rating into my age76. Renewed at age 76, 8 months -- paid only the advertised premium for age 76. LMG, in their policy boilerplate, indicated advertised premium rates are subject to increase based on the policy's previous year's claims status, up to twice the advertised rate, to outright denial of renewal. In some cases, yes. My Tricare (US military) policy is payer of last resort, meaning, if I have any other policies, I must file first with them, then provide the results to Tricare before they'll assess their responsibility.