Another 800 000 baht question.

[jvs]

Two people have a retirement visa showing money in the bank but they used an agent.

The money is 1600000 baht in a joint account.

they used an agent to get the paperwork done the last two times.Only 2 years in Thailand.

New visa date is in April.

The husband passed away just recently.

Is it possible for the wife to use this account to show the 800 000 or should an agent be used again?

The account is in Bangkok bank.

[Mike Lister]

This question is better answered in the visa section, I have asked that it is moved.

[metisdead]

Moved to the Thai Visas forum. 

[DrJack54]

3 hours ago, jvs said:

Two people have a retirement visa showing money in the bank but they used an agent.

The money is 1600000 baht in a joint account.

Dont follow your OP.

If it's two people with two extensions why did they use a joint account.

With the required funds in bank why did they need an agent.

 

In any event as the husband has passed then a new account should be opened (same bank ok) in the ladies name. 

Meet the financial requirements for extension using this new account

[jvs]

2 hours ago, DrJack54 said:

Dont follow your OP.

If it's two people with two extensions why did they use a joint account.

With the required funds in bank why did they need an agent.

 

In any event as the husband has passed then a new account should be opened (same bank ok) in the ladies name. 

Meet the financial requirements for extension using this new account

Like i mentioned,new to Thailand and fell for the "you need an agent"thing.

I always thought husband and wife only needed 800 000 together or am i wrong?

Ok so she should attempt to open a new account only in her name,can she legally take money out of the joint account?

Husband passed away last week .

[DrJack54]

21 minutes ago, jvs said:

I always thought husband and wife only needed 800 000 together or am i wrong?

Ok so she should attempt to open a new account only in her name,can she legally take money out of the joint account?

So both people are non Thai?

800k together is wrong.

Assume she can withdraw from joint account and should do that asap. 

 

This thread is very strange. 

May avoid advice as its confusing 

 

[DrJack54]

At the member that post laugh emoji.

Better option is to advise OP.

Go for it show your expert advice. 

[Lite Beer]

They only needed 800,000 in the bank anyway.

She needs to open a bank account in her own name and deposit at least 800,000 Baht.

Then apply for the 12 month extension before her current extension expires.

No need for agents.

Immigration will help her. They don't bite.

[jvs]

48 minutes ago, DrJack54 said:

So both people are non Thai?

800k together is wrong.

Assume she can withdraw from joint account and should do that asap. 

 

This thread is very strange. 

May avoid advice as its confusing 

 

Yes both people are non Thai.

Yes wrong advice is not helping at all of course.

[Liverpool Lou]

4 hours ago, DrJack54 said:

as the husband has passed then a new account should be opened (same bank ok) in the ladies name. 

Meet the financial requirements for extension using this new account

Or just have his name removed from the joint account.

[Liverpool Lou]

1 hour ago, jvs said:

Ok so she should attempt to open a new account only in her name,can she legally take money out of the joint account?

Husband passed away last week .

She can ask the bank to remove the husband's name from what was a joint account and yes, if the account was in joint names, she should be allowed access to her account.

[lopburi3]

800k only provides one retirement extension of stay so if using that method other person would have been on dependent extension and that would be lost in the event of the death of retirement extension holder.  So some couples do use retirement extensions at 800k for each to avoid that issue.

 

As we have no knowledge of what agent actually did or cost I would again use to make the process simple after the loss of husband.

[rwill]

On 1/20/2024 at 2:34 PM, jvs said:

Is it possible for the wife to use this account to show the 800 000 or should an agent be used again?

The best option is to get the bank to remove his name from the account.  I have no idea how hard that would be. 

 

Otherwise she has time to open a new account in her name only.  You need the 800K at least 2 months before applying for an extension.  But then she still might have to show having the 800K for the 3 months after the last extension and 400K after that.  Which would involve showing the joint account.  That could be messy.

 

So I would say for this next extension either get his name taken off of the account or use an agent one more time.

 

As a joint account holder she can access the money in the account.

[thailand49]

Some office allows the use of joint account like Jomtien.

Ive been using and will use this account tommorrow to do my extension for the 15 plus time well over the 1,600,000.

There are reason people want to use agents and have single accounts.  In this case, husband pass she can keep the same account and have assurance not to dip below the limit. Can close as suggested open new account.

Good luck.

[Srikcir]

Aside, if you're an American you must report certain foreign financial accounts, such as bank accounts to the Treasury Department. For example:

• The aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported

Failure to file a Foreign Bank and Financial Accounts Report may be subject to civil monetary and/or criminal penalties.

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

[lopburi3]

11 minutes ago, Srikcir said:

Aside, if you're an American you must report certain foreign financial accounts, such as bank accounts to the Treasury Department. For example:

• The aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported

Failure to file a Foreign Bank and Financial Accounts Report may be subject to civil monetary and/or criminal penalties.

https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-accounts-fbar

 

Which takes about 20 minutes a year and done online in real time for those with only a few accounts.  All you need is your information/bank information and highest deposit amount during the year in each account divided by the FBAR year exchange rate (which takes about 20 seconds to Google).

2023-12-31

Thailand-Baht

34.33

2023-12-31

[NoshowJones]

On 1/20/2024 at 9:42 PM, Lite Beer said:

They only needed 800,000 in the bank anyway.

She needs to open a bank account in her own name and deposit at least 800,000 Baht.

Then apply for the 12 month extension before her current extension expires.

No need for agents.

Immigration will help her. They don't bite.

Depends on the mood of the officer.