Some residents in Japan are required to file reports of assets and liabilities by the due date at the tax office where they are registered.
There are 2 types of reports, worldwide assets and liabilities report and foreign assets and liabilities report.
If you don’t fulfill your obligations or non-compliance of this obligation, please note that there might be penalty taxes.
Filling out the forms can be quite overwhelming as there are a number of conditions for calculating each asset and liability. It is highly recommended to hire professionals to handle the filing.