Can you receive your pension refund by a favorable currency?

By | 01/04/2022

Each country has a designated currency for international transfer, that cannot be changed

Japanese pension refunds (Lump-sum Withdrawal Payments) are transferred internationally via Mitsubishi UFJ bank on behalf of the government. Each country has a designated currency for transfers from Japan, that cannot be changed.

The relationship between country and transferring currency is shown on page 13 of this PDF file:

You designate a bank account on the claimform of Lump-sum Withdrawal Payments. You can designate an account in almost every country including Japan, if its holder is yourself. You can designate an account in other countries than your home country.
Your pension refund is transferred to your designated bank account by an international currency such as US dollar. But it will be exchanged to the domestic currency before getting received in your account.

Conditions to receive pension refund by Japanese Yen

To receive your pension refund by Japanese Yen, you need to designated a Japanese bank account in the name of yourself.
Please note the followings to do so:

  • You need an account with Katakana (カタカナ) name of yourself.
  • Your Katakana name needs to be the one that is transcribed according to the name on your passport. Please note that there are some different ways to transcribe your name from Romanized to Katakana.

    (Example) 「ダ シルバ」「ダ シウバ」etc. for “Da Silva”. 「ジョーンズ」「ジョウンズ」etc. for “Jones”.

  • You cannot designate an account of your name registered by only Roman letters or Kanji, even if it is Japanese bank’s account. It needs to have your Katakana name too.
  • You cannot designate an account of Yucho Bank (ゆうちょ銀行).

YouAT LLC gives you services for Japanese pension and tax refunds

We YouAT LLC has more than 10 year’s history to support non-Japanese employees’ “Lump-sum Withdrawal Payments”, “Old Age Pension”, and income tax refunds.
We have staff of Labor and Social Security Attorney, Administrative Scrivener, and Tax Accountant.

Please feel free to contact us for Japanese Pension and Tax Refunds!

YouAT LLC website — >

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