Extension OA Retirement based on income

[lykes2fly]

Hi all. Previous years I've extended OA Retirement based on 800K bank balance method. Today I extended based on Income and I do have required 800K as well. Should have asked the IO but didn't so I'm a little unclear if I need to maintain any balances in my bank account, ie 3 months after or 2 months before next extension. I hope to extend based on Income from now on. Done at Immigration Div 1 Chaeng Wattana. Made an appointment on line and was walking out after only 1 hour. Not a terrible experience. Thank you everyone. 

[DrJack54]

43 minutes ago, lykes2fly said:

Should have asked the IO but didn't so I'm a little unclear if I need to maintain any balances in my bank account, ie 3 months after or 2 months before next extension.

Changing from money in bank method to income you will need to maintain the 800k in bank for 3 months after current extension and simultaneously commence the monthly transfers of 65k.

This is to show 12 monthly transfers at time of next extension.

 

BTW: did you not consider option to kill off the non O-A and change to non O..

[lykes2fly]

So I still need to maintain 800K even though my extension is based on Income ?  Same as before, 3 months after 2 months before ?

I've considered switching to non O but will maintain current insurance coverage so I see no advantage.  

[DrJack54]

44 minutes ago, lykes2fly said:

So I still need to maintain 800K even though my extension is based on Income ?

Financial requirements are retrospective. When you apply for next extension immigration will look back on previous 12 months.

I assume you do not have "income letter" from your embassy.

Edit: just checked your posts.

USA. So yes you need to do what I outlined in my first post. 

 

44 minutes ago, lykes2fly said:

I've considered switching to non O but will maintain current insurance coverage so I see no advantage.  

That seems to fly opposite to almost every other person living ongoing in Thailand extensions from a non O-A. 

Some guys continue with the non O-A and obtain the extension based on marriage as insurance is not required. 

Not married to Thai then extensions require insurance. 

[bigt3116]

15 hours ago, DrJack54 said:

Changing from money in bank method to income you will need to maintain the 800k in bank for 3 months after current extension and simultaneously commence the monthly transfers of 65k.

This is to show 12 monthly transfers at time of next extension.

 

Are you sure? The OP has just got his extension based on income, so he has showed 12 months of transfers and kept the 800k in the bank for the requisite time. As his extension is now based on income, the 800k is now his to withdraw at any time, no need to keep any of it in the bank.

 

As for the OP's question about maintaining any balance, no, as you are income based now, you can withdraw all the transfer every month, there is no minimum balance requirement for income based extensions.

[mfd101]

13 hours ago, DrJack54 said:

That seems to fly opposite to almost every other person living ongoing in Thailand extensions from a non O-A. 

Some guys continue with the non O-A and obtain the extension based on marriage as insurance is not required. 

Not married to Thai then extensions require insurance. 

You always take this line, but fail to consider the rationale - as the OP states - for staying with OA, namely the insurance requirement is fine & accepted. In my case, at age 75 I need decent health insurance anyway so there's no advantage in changing to another visa type.

[lykes2fly]

Yes. I can't imagine not having good medical insurance. If I can't get insurance here having an O type vs O-A is irrelevant. 

[lykes2fly]

I kept the 800K in the bank just in case IO didn't approve my documentation regarding income but he just nodded and said OK, no problem. To have to meet any of the conditions of the lump sum method to me doesn't make sense. Thanks

[lou norman]

15 hours ago, DrJack54 said:

Financial requirements are retrospective. When you apply for next extension immigration will look back on previous 12 months.

I assume you do not have "income letter" from your embassy.

Edit: just checked your posts.

USA. So yes you need to do what I outlined in my first post. 

 

That seems to fly opposite to almost every other person living ongoing in Thailand extensions from a non O-A. 

Some guys continue with the non O-A and obtain the extension based on marriage as insurance is not required. 

Not married to Thai then extensions require insurance. 

Apologies. I am still confused. My real world situation:
I received my current extension this month based 800K in the bank. I also started an overseas deposit last month greater than 65K. I intend to apply for my next extension (Dec 2025) using the monthly income option. When can I remove the 800K account?

thanks.

[DrJack54]

3 hours ago, bigt3116 said:

Are you sure? The OP has just got his extension based on income, so he has showed 12 months of transfers and kept the 800k in the bank for the requisite time. As his extension is now based on income

Think it was the way the OP expressed it. 

I take it he is coming off extension based on retirement.

I'm doing same thing and my most recent extension (CW) was done on Nov 5.

I had discussion with head io rear of L32.

I told her I have been making monthly transfers and will continue till time for  next extension and show 12+ monthly transfers.

Her reply...."no problem. Make sure 800k stay in bank for 3 months" 

That was already my understanding.

 

 

[DrJack54]

1 hour ago, lykes2fly said:

Yes. I can't imagine not having good medical insurance. If I can't get insurance here having an O type vs O-A is irrelevant. 

To each their own.

Extensions from a non O-A have some specific requirements.

Guys on extensions from Non O can choose to have what cover they want along with no insurance if that's their choice. 

[DrJack54]

36 minutes ago, lou norman said:

I intend to apply for my next extension (Dec 2025) using the monthly income option. When can I remove the 800K account?

Since you will be able to show 12 monthly transfers of 65k+ all good.

You also need to maintain the 800k for 3 months after approval of current extension. 

You could run your plan past you immigration office for peace of mind 

Check my post about chat with immigration officer at CW Nov 5

[lou norman]

55 minutes ago, DrJack54 said:

Since you will be able to show 12 monthly transfers of 65k+ all good.

You also need to maintain the 800k for 3 months after approval of current extension. 

You could run your plan past you immigration office for peace of mind 

Check my post about chat with immigration officer at CW Nov 5

So assuming my monthly transfer will continue until next December I should be able to delete the 800k account in April 2025?

[WDSmart]

20 hours ago, lykes2fly said:

Hi all. Previous years I've extended OA Retirement based on 800K bank balance method. Today I extended based on Income and I do have required 800K as well. Should have asked the IO but didn't so I'm a little unclear if I need to maintain any balances in my bank account, ie 3 months after or 2 months before next extension. I hope to extend based on Income from now on. Done at Immigration Div 1 Chaeng Wattana. Made an appointment on line and was walking out after only 1 hour. Not a terrible experience. Thank you everyone. 

I did exactly the same thing last month. I changed from a Type-O (not O-A) Long-term Visa one-year extension based on Retirement with THB 800K to one based on monthly deposits in my Thai bank account. I was told I needed a deposit of at least THB 65K per month to qualify. It is my understanding that your bank balance three months after or two months before you apply for a one-year extension doesn't matter at all. It's only those monthly deposits. I did this in the Immigration Office in Phetchabun.

And they didn't ask for a letter from my embassy (USA). They only needed the bank statements.

[DrJack54]

21 minutes ago, lou norman said:

So assuming my monthly transfer will continue until next December I should be able to delete the 800k account in April 2025?

Yes.

However for peace of mind run it past your immigration office.

Which is? 

 

Edit: read first post in attached thread from ubonjoe.

He has different take on it  and when that's happens equates to I'm wrong 

Mind you the io (senior) at CW was clear.

https://aseannow.com/topic/1232496-change-from-800k-bank-balance-to-65k-per-month/ 

 

Check with your immigration office. 

[flexomike]

20 hours ago, DrJack54 said:

Changing from money in bank method to income you will need to maintain the 800k in bank for 3 months after current extension and simultaneously commence the monthly transfers of 65k.

This is to show 12 monthly transfers at time of next extension.

 

BTW: did you not consider option to kill off the non O-A and change to non O..

Sounds like he already did his extension using monthly income method, if he was given an extension should be no reason to have to maintain the 800,000 in the bank.

[flexomike]

18 hours ago, lykes2fly said:

So I still need to maintain 800K even though my extension is based on Income ?  Same as before, 3 months after 2 months before ?

I've considered switching to non O but will maintain current insurance coverage so I see no advantage.  

I did the same as you and as long as you got your new extension based on monthly deposits there is no reason why you should have to maintain the 800,000 in the bank. You did have twelve deposits when you switched right?

[flexomike]

2 hours ago, lou norman said:

Apologies. I am still confused. My real world situation:
I received my current extension this month based 800K in the bank. I also started an overseas deposit last month greater than 65K. I intend to apply for my next extension (Dec 2025) using the monthly income option. When can I remove the 800K account?

thanks.

After you get an extension based on 12 monthly deposits.

[flexomike]

2 hours ago, DrJack54 said:

Since you will be able to show 12 monthly transfers of 65k+ all good.

You also need to maintain the 800k for 3 months after approval of current extension. 

You could run your plan past you immigration office for peace of mind 

Check my post about chat with immigration officer at CW Nov 5

his current extension was based on monthly income. No reason to have to leave the money in the bank.

[BusyB]

10 minutes ago, flexomike said:

Sounds like he already did his extension using monthly income method, if he was given an extension should be no reason to have to maintain the 800,000 in the bank.

 

By the time he has made 3x 65k transfers he will have 195k in the bank anyway.

 

Can't see the need to maintain 800k once the extension is granted if he doesn't aim to use it next time. Never heard of Immigration getting people in to show it 3 months after extension - no need as any reduction below 800k would be apparent with the next extension application anyway.

[flexomike]

1 hour ago, WDSmart said:

I did exactly the same thing last month. I changed from a Type-O (not O-A) Long-term Visa one-year extension based on Retirement with THB 800K to one based on monthly deposits in my Thai bank account. I was told I needed a deposit of at least THB 65K per month to qualify. It is my understanding that your bank balance three months after or two months before you apply for a one-year extension doesn't matter at all. It's only those monthly deposits. I did this in the Immigration Office in Phetchabun.

And they didn't ask for a letter from my embassy (USA). They only needed the bank statements.

US Embassy hasn't issued letters for years. As long as your 800,000 was in the bank on the day you switched and you had twelve monthly deposits already in the bank than the day your extension was approved you could do whatever you wanted with the 800,000 in the bank.

[flexomike]

2 minutes ago, BusyB said:

 

By the time he has made 3x 65k transfers he will have 195k in the bank anyway.

 

Can't see the need to maintain 800k once the extension is granted if he doesn't aim to use it next time. Never heard of Immigration getting people in to show it 3 months after extension - no need as any reduction below 800k would be apparent with the next extension application anyway.

He would have needed to make 12 monthly transfers if coming off a previous extension using the 800,000 method.

[BusyB]

Just now, flexomike said:

He would have needed to make 12 monthly transfers if coming off a previous extension using the 800,000 method.

 

Agreed. All I'm saying is I can't see the point in maintaining 800k for even 1 day after the current extension has been granted. But he'll have to ensure those 65k payments go in like clockwork.

[DrJack54]

21 hours ago, lykes2fly said:

Today I extended based on Income and I do have required 800K as well.

The extension you obtained today...

What did you show immigration for the previous 12 months for this extension today. 

[flexomike]

4 hours ago, lykes2fly said:

I kept the 800K in the bank just in case IO didn't approve my documentation regarding income but he just nodded and said OK, no problem. To have to meet any of the conditions of the lump sum method to me doesn't make sense. Thanks

On your intial change over from 800,000 in the bank to montly you would have to show that you kept the 800,000 in the bank for your year before your changeover. Once you get approved for the montly method you can do whatever you want with the 800,000 in the bank.

 

4 hours ago, lykes2fly said:

I kept the 800K in the bank just in case IO didn't approve my documentation regarding income but he just nodded and said OK, no problem. To have to meet any of the conditions of the lump sum method to me doesn't make sense. Thanks

 

[flexomike]

15 minutes ago, BusyB said:

 

Agreed. All I'm saying is I can't see the point in maintaining 800k for even 1 day after the current extension has been granted. But he'll have to ensure those 65k payments go in like clockwork.

You don't have too. Take it all out and do whatever you want. 

[bigt3116]

4 hours ago, DrJack54 said:

Think it was the way the OP expressed it. 

I take it he is coming off extension based on retirement.

I'm doing same thing and my most recent extension (CW) was done on Nov 5.

I had discussion with head io rear of L32.

I told her I have been making monthly transfers and will continue till time for  next extension and show 12+ monthly transfers.

Her reply...."no problem. Make sure 800k stay in bank for 3 months" 

That was already my understanding.

 

 

 

Maybe try reading the OP again.

 

He already has an extension based on income

 

Therefore your advice about the 800k is wrong. Once your extension based on monthly income is approved, the 800k is yours to do with as you please. As you correctly stated, the requirements are retrospective, the OP has fulfilled those, that is how he got an extension based on income this time. So I say again to you and the OP, the 800k is yours.

 

He has already done what you are planning to do. Therefore again, your advice was wrong.

 

PS The OP expressed it just fine, I certainly understood it.

[DrJack54]

13 minutes ago, bigt3116 said:

He has already done what you are planning to do. Therefore again, your advice was wrong.

Get off the point scoring.

I asked the OP to clearly state what he provided today for his extension.

The details would assist the forum.

 

[bigt3116]

8 minutes ago, DrJack54 said:

Get off the point scoring.

I asked the OP to clearly state what he provided today for his extension.

The details would assist the forum.

 

 

Seriously it is not 'point scoring', it is all about giving the correct advice, I am sure you agree with that.

 

"Changing from money in bank method to income you will need to maintain the 800k in bank for 3 months after current extension and simultaneously commence the monthly transfers of 65k.

This is to show 12 monthly transfers at time of next extension."

 

You wrote that, which was wrong for the OP (he had already changed), maybe because you did not understand the OP, who knows.

 

All I know is that the advice I gave was correct.

 

 

2 hours ago, DrJack54 said:

The extension you obtained today...

What did you show immigration for the previous 12 months for this extension today. 

 

Cool, yes, will help other members, but certainly does not excuse your incorrect advice.

[lykes2fly]

OK. When I extended 23 December 2024 I still had the 800K in the bank, properly seasoned in case my proof of income wasn't adequate for them. But I also showed the IO my bank statement with 12 consecutive deposits of > 65K baht. Kasikorn will provide (though not stamped and signed) a credit advice for each month showing when the overseas deposit was made, how much it was for and where it came from (in my case USA SSI). He looked at them checked the dates and compared it to the credit amounts on my bank statement for those days and confirmed it was good. So this extension was based on income. I was done in less than 1 hour. Easiest extension I've done to date.