Complying with the new retirement extension rules

[Khaeng Mak]

Ubon Joe

 

I have just done my extension and then transferred all of my money back out of my account and sent it back home. 

 

1. Do I have to transfer the equivalent of 400K back in to the account before 1 March.

 

2. If I don't is my current extension then invalid (same as a non B who loses his job or a marriage extension who gets divorced)?

 

3. If my extension is invalid can I be arrested for overstay and banned from Thailand for 5 years?

[ubonjoe]

The answer is no to all your questions which I think answered in a post you did in another topic.

[Fairynuff]

What would happen when he wants to get his next extension if he hasn’t had 400k in his account from 1st March this year? No extension? Or is he ok if he’s done the normal 3 months seasoning and it begins with his next extension 

[rott]

That point does need formally clarifying although Joe has 90%done this.

 

ubonjoe can you please also clarify whether an extension issued before 1st March for a date after 1st March needs to maintain the balances now or only after the next extension.

 

Thanks

[ubonjoe]

45 minutes ago, Fairynuff said:

What would happen when he wants to get his next extension if he hasn’t had 400k in his account from 1st March this year? No extension? Or is he ok if he’s done the normal 3 months seasoning and it begins with his next extension 

The new rules are not retroactive. If somebody is already on a extension before March 1st the new rules will not apply until their next extension.

When they apply for their next extension they would have to have the 800k baht in the bank for 2 months before they apply and then 3 months after they do it. Then the 400k baht after the 3 months.

5 minutes ago, rott said:

ubonjoe can you please also clarify whether an extension issued before 1st March for a date after 1st March needs to maintain the balances now or only after the next extension.

See above.

[phuketrichard]

if i have a incoming wire transfer of 65,000 baht/month, do i need leave 400,000 in the bank year round or

can I use partial or ALL of the 65,000 each month?

[Lacessit]

1 hour ago, ubonjoe said:

The new rules are not retroactive. If somebody is already on a extension before March 1st the new rules will not apply until their next extension.

When they apply for their next extension they would have to have the 800k baht in the bank for 2 months before they apply and then 3 months after they do it. Then the 400k baht after the 3 months.

 

So the seasoning period for 800K baht prior to extension has been changed from 3 months to 2 months in the new police order?

[chang50]

2 hours ago, ubonjoe said:

The new rules are not retroactive. If somebody is already on a extension before March 1st the new rules will not apply until their next extension.

When they apply for their next extension they would have to have the 800k baht in the bank for 2 months before they apply and then 3 months after they do it. Then the 400k baht after the 3 months.

See above.

That's excellent news for me my extension based on retirement date is march 5th but I always go 3-4 weeks early meaning if accepted I will have my extension before the new rules begin on march 1st..thanks Joe.

[Hotrats]

2 hours ago, ubonjoe said:

The new rules are not retroactive. If somebody is already on a extension before March 1st the new rules will not apply until their next extension.

When they apply for their next extension they would have to have the 800k baht in the bank for 2 months before they apply and then 3 months after they do it. Then the 400k baht after the 3 months.

See above.

Thank you Ubonjoe for your clarification. However, I am still not clear on exactly how immigration will be checking on the balance in our Thai bank accounts through the year following the receipt of our next extension. Will showing an updated bankbook be sufficient? Or will we be required to get a bank letter every 3 months? And will this become an added task along with each 90 day reporting?

[Lemonltr]

3 hours ago, phuketrichard said:

if i have a incoming wire transfer of 65,000 baht/month, do i need leave 400,000 in the bank year round or

can I use partial or ALL of the 65,000 each month?

I am doing the same as you and started bringing in 65k monthly as my embassy will not provide a letter. Under the previous system if you had 65k income you had no need to have any funds in the bank at all. I'm hoping that now I have transfers as proof instead of a letter that the same applies. No funds in the bank needed. ( although I have some). 

[spiroinusa1]

Is Chiang Mai going to except a letter (verification of income) from Social Security and my Pension Bureau? Seeing that they have to find ways of verifying 65K a month. 

[dick turpin]

55 minutes ago, chang50 said:

That's excellent news for me my extension based on retirement date is march 5th but I always go 3-4 weeks early meaning if accepted I will have my extension before the new rules begin on march 1st..thanks Joe.

Would'nt be so sure, your new extension will still be dated March 5th, after the new rules start.   

[chang50]

3 minutes ago, dick turpin said:

Would'nt be so sure, your new extension will still be dated March 5th, after the new rules start.   

Of course it would be prudent to have the money here anyway just to be sure..

 

[ubonjoe]

6 minutes ago, spiroinusa1 said:

Is Chiang Mai going to except a letter (verification of income) from Social Security and my Pension Bureau? Seeing that they have to find ways of verifying 65K a month. 

If you don't have proof of income from your embassy you have to show transfers of 65k baht into a Thai bank from abroad. That was covered in a multi page topic recently.

[Gashead]

I have been on a retirement extension for the last 8 years and bring the required 800k over from abroad every year.  Because of the way my funds are held it takes almost 6 weeks to free them up so I need to start planning around 5 months before my extension date, allowing for the 3 months seasoning.  My extension is due at the end of March and was planning to go to immigration end of Feb.  This new rule has screwed me completely.  There is no way I can get more funds here in time to enable me to maintain the 800k balance for 2 months after the extension date.  I will still go to try the retirement route as planned and hope the fact that I am applying before 1st March works for me.  If not I will have to revert to an extension based on marriage.

 

When making changes like this surely it would be more reasonable to give more than a months notice!!

[lagavulin1]

Is it clear yet how Immi will manage the three months after? 

Maybe they have as much idea as us ????. 

[gamini]

I can't see much of a problem. Most of the people I know simply keep 800 K on deposit and leave it there permanently. If you can't do this then you really have not planned your retirement properly.  

[DrJack54]

Just now, lagavulin1 said:

Is it clear yet how Immi will manage the three months after? 

Maybe they have as much idea as us ????. 

Virtually only way would be by looking at your bank statements when your next annual extension is due. Otherwise it means everyone on extensions using this method means to be available. For those referring to 90 reports, fine, but some like myself never do them. Travel outside los too often. 

For those that don't travel what about a planned holiday of some weeks to Vietnam 2 months after your extension. Whoops...I can travel? Need to prove I still have 400k in bank.

Secret to making rules is make sure they are workable before they are thrown out there

[NE1]

But , will you need a letter from your bank when you do your yearly ext. then another on your first 90 day report to show the 800.000 is still there , then another every 90 day report after that to show that you haven't dropped below the required 400,000 then back to the yearly ext.?????

 

Edited February 2, 2019 by NE1

[DrJack54]

1 minute ago, NE1 said:

But , will you need a letter from your bank when you do your yearly ext. then another on your first 90 day report to show the 800.000 is still there , then another every 90 day report after that to show that you haven't dropped below the required 400,000 then back to the yearly ext.?

 

90 day reports in past had zero to do with annual extensions. Whichever way they try to enforce these new rules, it cannot be tied to 90 day reports. Some people on extensions hardly ever, if at all, do 90 day reports.

[NE1]

So what you are saying is , when you do your next yearly extension ( after the new rules come in) You will need to show proof of your previous years bank balance , so they can check you are keeping the required funds in all year.

[NE1]

4 minutes ago, DrJack54 said:

9 minutes ago, NE1 said:

 

90 day reports in past had zero to do with annual extensions. Whichever way they try to enforce these new rules, it cannot be tied to 90 day reports. Some people on extensions hardly ever, if at all, do 90 day reports.

You have to do 90 day reports.

[BritManToo]

1 minute ago, NE1 said:

You have to do 90 day reports.

Only if you stay in the country 90 days.

Sigh, I know you can't fix stupid.

[jacko45k]

1 minute ago, NE1 said:

You have to do 90 day reports.

Not if you are not in the Kingdom or make frequent trips in and out.

[JackThompson]

47 minutes ago, NE1 said:

So what you are saying is , when you do your next yearly extension ( after the new rules come in) You will need to show proof of your previous years bank balance , so they can check you are keeping the required funds in all year.

There is no indication in what is written on how the "after" seasoning rules will be enforced.  How they could publish this without that, and on such short-notice, is beyond belief.

[NE1]

49 minutes ago, BritManToo said:

51 minutes ago, NE1 said:

You have to do 90 day reports.

Only if you stay in the country 90 days.

Sigh, I know you can't fix stupid.

Maybe not , but you could be more polite in your response . 

[madmen]

So what you are saying is , when you do your next yearly extension ( after the new rules come in) You will need to show proof of your previous years bank balance , so they can check you are keeping the required funds in all year.

There are reports coming out from a company with connections that the new rules won't effect previous extension holders but only new applications or in other words grandfatherd

I would give it a few days before worrying about the shambles that have been announced

[wgdanson]

5 hours ago, phuketrichard said:

if i have a incoming wire transfer of 65,000 baht/month, do i need leave 400,000 in the bank year round or

can I use partial or ALL of the 65,000 each month?

No, and YES.

[wgdanson]

1 hour ago, NE1 said:

So what you are saying is , when you do your next yearly extension ( after the new rules come in) You will need to show proof of your previous years bank balance , so they can check you are keeping the required funds in all year.

YES.

[BritManToo]

16 minutes ago, NE1 said:

Maybe not , but you could be more polite in your response . 

Sorry, I get worn down some days.