Japanese retirees with interesting checks in the US have come down to the banks of Tokyo

topglobe May 20, 2021

0 15 2 minutes read

Banks in Tokyo are flooded with retirees seeking to withdraw money from Joe Biden after the US Internal Revenue Service misappropriated thousands of Japanese citizens.

The head of a major Japanese bank said the issue was “full of distractions” in some Tokyo offices where employees are trying to tackle foreign checks.

The payment appears to have been sent to Japanese retirees who have worked in the US, reflecting Biden’s significant increase. Fun for $ 1.9 and the dangers of garbage by chasing money home.

Remuneration for non-recipients, including in most countries beyond Japan, was a problem for early regimes. You have passed Donald Trump.

However, the most recent recipients in Japan did not receive a check in 2020, suggesting that the problem of incorrect payment may be even greater this time around.

“I felt grateful and thought America was amazing,” said the 75-year-old Japanese businessman, who worked in the US in the 1970’s. $ 1,400 review this month.

The following week they exchanged text messages and phone calls with friends who also received checks. Two of his friends were able to return their check to Sumitomo Mitsui Financial Group, while another managed to do so at the Tokyo central branch in Mizuho.

But when he applied to his Mizuho branch, he was told that he had to prove his worthiness before receiving the money, which led him to consider opening a bank account at SMFG.

A few days later, he noticed in the media that he may not have received the checks he and his wife received. “It ended like a short dream,” he said. “Now my biggest interest is what will happen to those who have already received the money.”

Two of Japan’s three megabanks continue to issue cash checks to customers who have an account they claim to have. Banks have requested anonymity for fear of repercussions at their offices.

Koh Fujimoto, a ChicH accountant at Chicago who specializes in Japanese tax advice, says only American citizens – who are taxed on their global income – and US visitors who should receive checks. “There is worth the money, “He added.

Several Japanese people receive less money from the US after paying their retirement taxes, before signing a security agreement in 2005. Fujimoto said the IRS could not differentiate between U.S. retirees who earn less than they can afford to pay taxes.

If a lot of money is lost, the U.S. could take action, Fujimoto said, but added that it would be difficult to force foreign nationals to donate money if it wastes their money. However, “unqualified people should return the money”, he said.

The IRS confirmed that “non-resident visitors” were unfit and must send checks to address in Austin, Texas.

According to Wealth A senior official of the department, Trump’s initial $ 1,200 payroll by 2020 also included 27,808 checks worth $ 34m at foreign addresses, including all that is right and wrong.

The U.S. economy has not yet made a record payments this year and has not responded.