Act on Special Measures Concerning Taxation

Where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account at a business office (meaning a business office prescribed in Article 37-11-3, paragraph (3), item (i); the same applies hereinafter in this Article and the following Article) of a financial instruments business operator, etc. (meaning a financial instruments business operator, etc. prescribed in that item; the same applies hereinafter in this Article and the following Article) has made the transfer specified in each of the following items (including a transfer specified by Cabinet Order as being similar thereto, and excluding a transfer made by the method of transaction listed in Article 28, paragraph (10), item (iii), (a) of the Financial Instruments and Exchange Act; the same applies hereinafter in this Article and the following Article) of the listed shares, etc. prescribed in item (i) that are listed in that item and are entered or recorded in the transfer account book (meaning the transfer account book prescribed in the Act on Book-Entry Transfer of Corporate Bonds and Shares; the same applies hereinafter in this Article and the following Article) pertaining to the tax-exempt account, or the custody of which has been entrusted to the tax-exempt account, under a contract for managing tax-exempt listed shares, etc., the listed shares, etc. prescribed in item (i) that are listed in item (ii) and are entered or recorded in the transfer account book pertaining to the tax-exempt account, or the custody of which has been entrusted to the tax-exempt account, under a tax-exempt cumulative investment contract, or the listed shares, etc. prescribed in item (i) that are listed in item (iii) or the listed shares, etc. prescribed in item (i) that are listed in item (iv) and are entered or recorded in the transfer account book pertaining to the tax-exempt account, or the custody of which has been entrusted to the tax-exempt account, under a specified tax-exempt cumulative investment contract (collectively referred to as "listed shares, etc. in a tax-exempt account" hereinafter in this Article), income tax is not imposed on business income, capital gains and miscellaneous income from that transfer (excluding business income and miscellaneous income that fall under the provisions of Article 41-2 of the Income Tax Act and capital gains that fall under the provisions of Article 32, paragraph (2)):

listed shares, etc. pertaining to a tax-exempt management account established in that tax-exempt account (meaning the following shares, etc., beneficial rights and investment units; the same applies hereinafter in this Article (excluding paragraph (3)) and the following Article (excluding paragraph (3) and paragraph (5), item (vi))): a transfer under that contract for managing tax-exempt listed shares, etc. made during the period from the day on which that tax-exempt management account was established until the day on which five years have elapsed from January 1 of the year that includes that day;

shares, etc. prescribed in Article 37-10, paragraph (2) (referred to as "shares, etc." in paragraphs (4) and (6) and the following Article) that are listed in items (i) through (v) of Article 37-10, paragraph (2) (in the case of beneficial rights listed in item (iv) of that paragraph, limited to beneficial interests in securities investment trusts other than bond investment trusts and beneficial interests in investment trusts other than securities investment trusts that do not fall under bond-based investment trusts), or bonds with share options (including convertible specified corporate bonds prescribed in Article 131, paragraph (1) of the Act on the Securitization of Assets and specified corporate bonds with subscription rights for new preferred equity prescribed in Article 139, paragraph (1) of that Act), which fall under the shares, etc. listed in Article 37-11, paragraph (2), item (i);

beneficial interests in securities investment trusts other than bond investment trusts for which the public offering of beneficial rights pertaining to their creation was conducted by way of public offering prescribed in Article 8-4, paragraph (1), item (ii) (excluding specified stock investment trusts prescribed in Article 3-2);

investment units prescribed in Article 2, paragraph (14) of the Act on Investment Trusts and Investment Corporations of a specified investment corporation prescribed in Article 8-4, paragraph (1), item (iii).

the following listed shares, etc. pertaining to a cumulative investment account established in that tax-exempt account: a transfer under that tax-exempt cumulative investment contract made during the period from the day on which that cumulative investment account was established until the day on which 20 years have elapsed from January 1 of the year that includes that day;

beneficial interests in securities investment trusts other than bond investment trusts that fall under the shares, etc. listed in Article 37-11, paragraph (2), item (i);

listed shares, etc. listed in (b) of the preceding item.

listed shares, etc. listed in (a) or (b) of the preceding item pertaining to a specified cumulative investment account established in that tax-exempt account: a transfer under that specified tax-exempt cumulative investment contract made on or after the day on which that specified cumulative investment account was established;

listed shares, etc. listed in item (i), (a) through (c) pertaining to a specified tax-exempt management account established in that tax-exempt account: a transfer under that specified tax-exempt cumulative investment contract made on or after the day on which that specified tax-exempt management account was established.

If the revenue from the transfer of listed shares, etc. in a tax-exempt account under a contract for managing tax-exempt listed shares, etc., a tax-exempt cumulative investment contract or a specified tax-exempt cumulative investment contract is less than the total of the acquisition cost prescribed in Article 33, paragraph (3) of the Income Tax Act of those listed shares, etc. in a tax-exempt account and the amount of expenses required for the transfer, or the necessary expenses pertaining to the transfer, the shortfall is deemed not to exist for the purpose of applying the provisions of laws and regulations concerning income tax.

In the cases referred to in the preceding two paragraphs, where a resident or nonresident who has a permanent establishment has transferred listed shares, etc. in a tax-exempt account (where the person has two or more tax-exempt accounts, the listed shares, etc. in a tax-exempt account pertaining to each of those tax-exempt accounts; the same applies hereinafter in this paragraph) under a contract for managing tax-exempt listed shares, etc., a tax-exempt cumulative investment contract or a specified tax-exempt cumulative investment contract, the amount of business income, the amount of capital gains or the amount of miscellaneous income from the transfer of those listed shares, etc. in a tax-exempt account and the amount of business income, the amount of capital gains or the amount of miscellaneous income from the transfer of listed shares, etc. (meaning listed shares, etc. prescribed in Article 37-11, paragraph (2)) other than those listed shares, etc. in a tax-exempt account are to be calculated separately, pursuant to the provisions of Cabinet Order.

Where all or part of the listed shares, etc. in a tax-exempt account have been withdrawn (including withdrawal by book-entry transfer; the same applies hereinafter in this paragraph and in paragraph (6), item (iv)) from a tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account due to any of the following reasons, it is deemed that, with regard to the listed shares, etc. in a tax-exempt account so withdrawn, a transfer under the contract for managing tax-exempt listed shares, etc., tax-exempt cumulative investment contract or specified tax-exempt cumulative investment contract was made, at the time when the reason arose, for the amount specified by Cabinet Order as the value at that time (hereinafter referred to in this Article as the "amount at the time of withdrawal"); that, with regard to the resident or nonresident who has a permanent establishment who has opened or had opened the tax-exempt account in which the tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account from which listed shares, etc. in a tax-exempt account were withdrawn due to the relocation, return or closure listed in item (i) is established, the person acquired, at the time of the withdrawal due to that relocation, return or closure, for the amount at the time of withdrawal, shares, etc. of the same class as those listed shares, etc. in a tax-exempt account in a number equivalent to the number of the listed shares, etc. in a tax-exempt account withdrawn due to that relocation, return or closure; and that, with regard to a person who acquired listed shares, etc. in a tax-exempt account withdrawn due to the gift, inheritance or bequest listed in item (ii), the person acquired, at the time of that gift, inheritance or bequest, for the amount at the time of withdrawal, shares, etc. of the same class as those listed shares, etc. in a tax-exempt account, respectively; and the provisions of the preceding three paragraphs and paragraph (41) and the provisions of other laws and regulations concerning income tax apply:

relocation from a tax-exempt account to another account for entries or records in the transfer account book or custody of shares, etc. (referred to as an "other custody account" hereinafter up to paragraph (6) and in paragraph (8), item (i), (b)), relocation from a tax-exempt management account to a tax-exempt management account for another year established in the tax-exempt account in which that tax-exempt management account is established, return of securities pertaining to listed shares, etc. in a tax-exempt account to the resident or nonresident who has a permanent establishment, or closure of a tax-exempt account (where the listed shares, etc. in a tax-exempt account withdrawn due to any of these reasons pertain to a minor's specified cumulative investment account (meaning a specified cumulative investment account that is established in each year in which the resident or nonresident who has a permanent establishment who has opened the tax-exempt account is under 18 years of age on January 1 of that year and in the year that includes the person's date of birth; the same applies hereinafter in this Article), in the case of relocation to that other custody account or that return, limited to one made in accordance with the specified tax-exempt cumulative investment contract, and in the case of that closure, limited to a closure that occurred on or after January 1 of the year in which the resident or nonresident who has a permanent establishment who had opened the tax-exempt account pertaining to that closure is 18 years of age on March 31 of that year (hereinafter referred to in this Article as the "reference year"), and to a closure of a tax-exempt account referred to in paragraph (23) in the case where the provisions of that paragraph are applied by deeming, pursuant to the provisions of paragraph (33) (limited to the part pertaining to items (ii) and (iii)), that the submission prescribed in paragraph (22) of the written notification of closure of a tax-exempt account prescribed in that paragraph has been made, which occurred by December 31 of the year preceding the reference year of that resident or nonresident who has a permanent establishment (referred to as a "closure of a tax-exempt account upon departure from Japan" in paragraph (6)));

gift, inheritance or bequest (where the listed shares, etc. in a tax-exempt account withdrawn due to any of these reasons pertain to a minor's specified cumulative investment account, in the case of that gift, limited to a gift made on or after January 1 of the reference year of the resident or nonresident who has a permanent establishment who has opened the tax-exempt account to which those listed shares, etc. in a tax-exempt account pertain);

a transfer other than a transfer made in accordance with the method specified in the contract for managing tax-exempt listed shares, etc., tax-exempt cumulative investment contract or specified tax-exempt cumulative investment contract (where the listed shares, etc. in a tax-exempt account withdrawn due to that transfer pertain to a minor's specified cumulative investment account, limited to a transfer made on or after January 1 of the reference year of the resident or nonresident who has a permanent establishment who has opened the tax-exempt account to which those listed shares, etc. in a tax-exempt account pertain).

In this Article, the meanings of the terms listed in the following items are as prescribed respectively in those items:

tax-exempt account: an account for entries or records in the transfer account book or custody of listed shares, etc. (limited to an account in which no matters concerning transactions other than transactions under a contract for managing tax-exempt listed shares, etc., a tax-exempt cumulative investment contract and a specified tax-exempt cumulative investment contract are handled) that has been opened within the period specified respectively below under the following contracts concluded with a financial instruments business operator, etc. by a resident or nonresident who has a permanent establishment, after the person has submitted (including providing, by electronic or magnetic means (meaning a method using an electronic data processing system or any other method using information and communications technology; the same applies hereinafter in this Article, excluding paragraph (43)), the matters to be stated in the written notification of opening of a tax-exempt account in lieu of submitting that written notification of opening of a tax-exempt account; the same applies in paragraphs (12) through (18) and paragraphs (38) through (40)), in order to receive the application of the provisions of Article 9-8 and the preceding paragraphs, to the head of the business office of the financial instruments business operator, etc. at which the person seeks to open the account, pursuant to the provisions of Cabinet Order, a written notification stating the type of account to be established in that account, the name and location of the business office of that financial instruments business operator, etc., a statement that the provisions of Article 9-8 and the preceding paragraphs are to be applied to dividend income pertaining to dividends and similar income prescribed in Article 24, paragraph (1) of the Income Tax Act (referred to as "dividends and similar income" in item (vi), (e), 3.) on listed shares, etc. entered or recorded in the transfer account book pertaining to that account or the custody of which has been entrusted to that account, and to business income, capital gains or miscellaneous income from the transfer of those listed shares, etc., and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this Article as a "written notification of opening of a tax-exempt account"):

contract for managing tax-exempt listed shares, etc.: the period from January 1, 2014 to December 31, 2023;

tax-exempt cumulative investment contract: the period from January 1, 2018 to December 31, 2023;

specified tax-exempt cumulative investment contract: the period on or after January 1, 2024 (where the account to be established in that account is a minor's specified cumulative investment account, January 1, 2027).

contract for managing tax-exempt listed shares, etc.: a contract for entries or records in the transfer account book or custody of listed shares, etc. that the resident or nonresident who has a permanent establishment referred to in paragraph (1) has concluded with a financial instruments business operator, etc. in order to receive the application of the provisions of Article 9-8 (limited to the part pertaining to paragraph (1), item (i)) and the provisions of paragraph (1) (limited to the part pertaining to item (i)) and the preceding three paragraphs, in the contract document of which it is provided that entries or records in the transfer account book or custody of listed shares, etc. are to be made in the tax-exempt management account established in the account pertaining to those entries or records or that custody; that only the following listed shares, etc. of that resident or nonresident who has a permanent establishment are to be accepted into that tax-exempt management account (excluding those acquired during the period from the day of the absence from Japan (meaning absence from Japan prescribed in paragraph (29); the same applies in item (iv) and item (vi), (b) and (c)) of a person who, under the provisions of paragraph (29), has filed the notification of continued application prescribed in item (i) of that paragraph (referred to as a "person who has filed a notification of continued application" in item (iv) and item (vi), (b) and (c)) until the day on which the submission of a notification of return to Japan pertaining to that person (meaning the submission prescribed in paragraph (31) of the notification of return to Japan prescribed in that paragraph; the same applies in item (iv) and item (vi), (b) and (c)) is made, those acquired by receiving the application of the provisions of the main clause of Article 29-2, paragraph (1), and others specified by Cabinet Order); that the transfer of listed shares, etc. entered or recorded in the transfer account book or held in custody in that tax-exempt management account is to be made by the method of entrusting the sale to that financial instruments business operator, etc., the method of making the transfer to that financial instruments business operator, etc., or any other method specified by Cabinet Order; that, on the day on which five years have elapsed from January 1 of the year that includes the day on which that tax-exempt management account was established, the listed shares, etc. pertaining to that tax-exempt management account, excluding those subject to the relocation referred to in (b), are to be relocated, pursuant to the provisions of Cabinet Order, from the account in which that tax-exempt management account was established to any other custody account; and other matters specified by Cabinet Order:

the following listed shares, etc., for which the total amount of the consideration for acquisition (meaning, for purchased listed shares, etc., the amount of the purchase price (for listed shares, etc. acquired by payment, the amount paid in; the same applies in item (vi), (b), 1. and (c), 1. and paragraph (34)), and, for listed shares, etc. accepted through the relocation referred to in 2., the amount at the time of withdrawal pertaining to that relocation; the same applies in item (iv), (a), item (vi), (b), 1. and (c), 1., and paragraph (8), item (ii)) of the listed shares, etc. accepted during the period from the day on which a tax-exempt management account was established in that account to December 31 of the year that includes that day does not exceed 1,200,000 yen (where there are listed shares, etc. listed in (b), the amount obtained by deducting the amount at the time of withdrawal pertaining to the relocation of those listed shares, etc.):

listed shares, etc. acquired within that period by entrusting the purchase (including intermediation, brokerage or agency for entrusting that purchase; the same applies in item (iv) and item (vi), (b) and (c), 1.) to that financial instruments business operator, etc., listed shares, etc. acquired from that financial instruments business operator, etc., or listed shares, etc. acquired through a public offering of listed shares, etc. (limited to one that falls under a public offering of securities prescribed in Article 2, paragraph (3) of the Financial Instruments and Exchange Act; the same applies in item (iv) and item (vi), (b) and (c), 1.) conducted by that financial instruments business operator, etc., which are accepted into that account immediately after their acquisition;

listed shares, etc. (excluding those listed in (b)) relocated, pursuant to the provisions of Cabinet Order, from a tax-exempt management account for another year (meaning a tax-exempt management account for another year pertaining to the account in which that tax-exempt management account was established, or a minor's tax-exempt management account (meaning a tax-exempt management account prescribed in paragraph (5), item (iii) of the following Article) established in a minor's account (meaning a minor's account prescribed in paragraph (5), item (i) of the following Article; the same applies in paragraphs (38) and (39)) opened at the business office of that financial instruments business operator, etc.; the same applies in (b)).

listed shares, etc. relocated, pursuant to the provisions of Cabinet Order, from a tax-exempt management account for another year on the day on which five years have elapsed from January 1 of the year that includes the day on which that tax-exempt management account for another year was established;

beyond what is listed in (a) and (b), listed shares, etc. specified by Cabinet Order.

tax-exempt management account: an account for keeping records of entries or records in the transfer account book or custody of listed shares, etc. entered or recorded in the transfer account book or placed in custody under a contract for managing tax-exempt listed shares, etc., separately from records of other transactions, which satisfies the following requirements:

the account is established only in each year within the period from January 1, 2014 to December 31, 2023 (excluding a year in which a cumulative investment account is established; referred to as "each year of the account-setting period" in (b));

the account is established on January 1 of each year of the account-setting period (in the year that includes the day on which the submission prescribed in item (i) of a written notification of opening of a tax-exempt account (excluding one to which a written notice of account closure or a written notice of closure of a tax-exempt account is attached; the same applies in item (v), (b)) or the submission of a document specified by Cabinet Order was made, where that submission was made during the year, the day of that submission, and where a written notice of account closure or a written notice of closure of a tax-exempt account has been submitted, the day on which the matters specified in paragraph (27), item (i) were provided by the competent district director referred to in that paragraph pursuant to the provisions of that paragraph (where those matters were provided before January 1 of the year in which the account is to be established, that January 1)).

tax-exempt cumulative investment contract: a contract for entries or records in the transfer account book or custody of listed shares, etc. acquired under a cumulative investment contract (meaning a contract under which the resident or nonresident who has a permanent establishment agrees to entrust the purchase of, acquire from, or acquire through a public offering conducted by, that financial instruments business operator, etc., a fixed amount of the listed shares, etc. listed in paragraph (1), item (ii), (a) or (b), periodically and continuously, and in which the brands of listed shares, etc. to be purchased through such entrustment or acquired are specified in advance) that the resident or nonresident who has a permanent establishment referred to in paragraph (1) has concluded with a financial instruments business operator, etc. in order to receive the application of the provisions of Article 9-8 (limited to the part pertaining to paragraph (1), item (ii)) and the provisions of paragraph (1) (limited to the part pertaining to item (ii)) and the preceding three paragraphs, in the contract document of which it is provided that entries or records in the transfer account book or custody of listed shares, etc. are to be made in the cumulative investment account established in the account pertaining to those entries or records or that custody; that only the following, out of the listed shares, etc. listed in paragraph (1), item (ii), (a) and (b) of that resident or nonresident who has a permanent establishment (limited to those that satisfy the requirements specified by Cabinet Order as those whose periodic and continuous acquisition promotes asset building by individuals (hereinafter referred to up to item (vi) as "listed shares, etc. for cumulative investment"), and excluding those acquired during the period from the day of the absence from Japan of a person who has filed a notification of continued application until the day on which the submission of a notification of return to Japan pertaining to that person is made, and others specified by Cabinet Order), are to be accepted into that cumulative investment account; that the transfer of listed shares, etc. for cumulative investment entered or recorded in the transfer account book or held in custody in that cumulative investment account is to be made by the method of entrusting the sale to that financial instruments business operator, etc., the method of making the transfer to that financial instruments business operator, etc., or any other method specified by Cabinet Order; that, on the day on which 20 years have elapsed from January 1 of the year that includes the day on which that cumulative investment account was established, the listed shares, etc. for cumulative investment pertaining to that cumulative investment account are to be relocated, pursuant to the provisions of Cabinet Order, from the account in which that cumulative investment account was established to an other custody account; and other matters specified by Cabinet Order:

listed shares, etc. for cumulative investment acquired by entrusting the purchase to that financial instruments business operator, etc., listed shares, etc. for cumulative investment acquired from that financial instruments business operator, etc., or listed shares, etc. for cumulative investment acquired through a public offering of listed shares, etc. for cumulative investment conducted by that financial instruments business operator, etc., within the period from the day on which a cumulative investment account was established in that account to December 31 of the year that includes that day (referred to as the "acceptance period" in (a)), which are accepted into that account immediately after their acquisition and for which the total amount of the consideration for acquisition of the listed shares, etc. for cumulative investment accepted within that acceptance period does not exceed 400,000 yen;

beyond what is listed in (a), listed shares, etc. for cumulative investment specified by Cabinet Order.

cumulative investment account: an account for keeping records of entries or records in the transfer account book or custody of listed shares, etc. for cumulative investment entered or recorded in the transfer account book or placed in custody under a tax-exempt cumulative investment contract, separately from records of other transactions, which satisfies the following requirements:

the account is established only in each year within the period from January 1, 2018 to December 31, 2023 (excluding a year in which a tax-exempt management account is established; referred to as "each year of the account-setting period" in (b));

the account is established on January 1 of each year of the account-setting period (in the year that includes the day on which the submission prescribed in item (i) of a written notification of opening of a tax-exempt account or the submission of a document specified by Cabinet Order was made, where that submission was made during the year, the day of that submission, and where a written notice of account closure or a written notice of closure of a tax-exempt account has been submitted, the day on which the matters specified in paragraph (27), item (i) were provided by the competent district director referred to in that paragraph pursuant to the provisions of that paragraph (where those matters were provided before January 1 of the year in which the account is to be established, that January 1)).

specified tax-exempt cumulative investment contract: a contract for entries or records in the transfer account book or custody of listed shares, etc. that the resident or nonresident who has a permanent establishment referred to in paragraph (1) has concluded with a financial instruments business operator, etc. in order to receive the application of the provisions of Article 9-8 (limited to the part pertaining to paragraph (1), items (iii) and (iv)) and the provisions of paragraph (1) (limited to the part pertaining to items (iii) and (iv)) and the preceding three paragraphs, in the contract document of which the following matters are provided:

entries or records in the transfer account book or custody of listed shares, etc. are to be made in the specified cumulative investment account or specified tax-exempt management account established in the account pertaining to those entries or records or that custody;

in that specified cumulative investment account, only those listed in (1) that were acquired under a cumulative investment contract (meaning a contract under which the resident or nonresident who has a permanent establishment agrees to entrust the purchase of, acquire from, or acquire through a public offering conducted by, that financial instruments business operator, etc., a fixed amount of the listed shares, etc. listed in paragraph (1), item (ii), (a) or (b) (where those listed shares, etc. are listed shares, etc. listed in (a) of that item, a fixed amount of, or the largest number of units that can be acquired within the range of that fixed amount of, the listed shares, etc. listed in (a) of that item), periodically and continuously, and in which the brands of listed shares, etc. to be purchased through such entrustment or acquired are specified in advance) and those listed in (2), out of the listed shares, etc. listed in paragraph (1), item (iii) of that resident or nonresident who has a permanent establishment (limited to listed shares, etc. for cumulative investment, and excluding listed shares, etc. listed in (1) that were acquired during the period from the day of the absence from Japan of a person who has filed a notification of continued application until the day on which the notification of return to Japan pertaining to that person is submitted; hereinafter referred to in this paragraph and paragraph (8) as "specified cumulative investment listed shares, etc."), are to be accepted:

specified cumulative investment listed shares, etc. acquired by entrusting the purchase to that financial instruments business operator, etc., specified cumulative investment listed shares, etc. acquired from that financial instruments business operator, etc., or specified cumulative investment listed shares, etc. acquired through a public offering of specified cumulative investment listed shares, etc. conducted by that financial instruments business operator, etc., within the period from the day on which a specified cumulative investment account was established in that account to December 31 of the year that includes that day (referred to as the "acceptance period" in (1)), which are accepted into that account immediately after their acquisition and for which the total amount of the consideration for acquisition of the specified cumulative investment listed shares, etc. accepted within that acceptance period does not exceed 1,200,000 yen (or, where that specified cumulative investment account is a minor's specified cumulative investment account, 600,000 yen) (excluding the specified cumulative investment listed shares, etc. specified below according to the category of specified cumulative investment account listed below):

a specified cumulative investment account other than a minor's specified cumulative investment account: those specified cumulative investment listed shares, etc. that, if accepted into that account, would cause the sum of that total amount, the total amount of the consideration for acquisition of the listed shares, etc. referred to in (c), (1) accepted into that account in that year, and the base amount for the specified cumulative investment account (meaning the amount specified by Cabinet Order as the amount equivalent to the purchase price of the listed shares, etc. that the resident or nonresident who has a permanent establishment has accepted into the specified cumulative investment account and the specified tax-exempt management account as of December 31 of the year preceding that year; the same applies in (c), (1), (ii) and paragraph (36)) to exceed 18,000,000 yen;

a minor's specified cumulative investment account: those specified cumulative investment listed shares, etc. that, if accepted into that account, would cause the sum of the total amount of the consideration for acquisition of the specified cumulative investment listed shares, etc. accepted within that acceptance period and the amount specified by Cabinet Order as the amount equivalent to the purchase price of the specified cumulative investment listed shares, etc. that the resident or nonresident who has a permanent establishment has accepted into minor's specified cumulative investment accounts as of December 31 of the year preceding the year that includes the day on which that minor's specified cumulative investment account was established to exceed 6,000,000 yen.

beyond what is listed in (1), specified cumulative investment listed shares, etc. specified by Cabinet Order.

in that specified tax-exempt management account, only the following, out of the listed shares, etc. listed in paragraph (1), item (iv) of that resident or nonresident who has a permanent establishment (excluding those acquired during the period from the day of the absence from Japan of a person who has filed a notification of continued application until the day on which the notification of return to Japan pertaining to that person is submitted, those acquired by receiving the application of the provisions of the main clause of Article 29-2, paragraph (1), those designated, under the rules prescribed by the financial instruments exchange prescribed in Article 2, paragraph (16) of the Financial Instruments and Exchange Act on which those listed shares, etc. are listed, as brands for which delisting from that financial instruments exchange has been decided or as brands at risk of delisting, and others specified by Cabinet Order), are to be accepted:

listed shares, etc. acquired by entrusting the purchase to that financial instruments business operator, etc., listed shares, etc. acquired from that financial instruments business operator, etc., listed shares, etc. acquired through a public offering of listed shares, etc. conducted by that financial instruments business operator, etc., or listed shares, etc. acquired through the exercise of share options granted with respect to listed shares, etc. entered or recorded in the transfer account book pertaining to that account or the custody of which has been entrusted to that account, and others specified by Cabinet Order, within the period from the day on which a specified tax-exempt management account was established in that account to December 31 of the year that includes that day (referred to as the "acceptance period" in (1)), which are accepted into that account immediately after their acquisition and for which the total amount of the consideration for acquisition of the listed shares, etc. accepted within that acceptance period does not exceed 2,400,000 yen (excluding those listed shares, etc. where, if accepted into that account, the case would fall under either of the following cases):

where the sum of that total amount and the base amount for the specified tax-exempt management account (meaning the amount specified by Cabinet Order as the amount equivalent to the purchase price of the listed shares, etc. that the resident or nonresident who has a permanent establishment has accepted into the specified tax-exempt management account as of December 31 of the year preceding that year; the same applies in paragraph (36)) exceeds 12,000,000 yen;

where the sum of the total amount of the consideration for acquisition of the listed shares, etc. accepted within that acceptance period, the total amount of the consideration for acquisition of the specified cumulative investment listed shares, etc. referred to in (b), (1) accepted into that account in the year that includes the day on which the specified tax-exempt management account pertaining to that acceptance period was established, and the base amount for the specified cumulative investment account exceeds 18,000,000 yen.

beyond what is listed in (1), listed shares, etc. specified by Cabinet Order.

the transfer of listed shares, etc. entered or recorded in the transfer account book or held in custody in that specified cumulative investment account or specified tax-exempt management account is to be made by the method of entrusting the sale to that financial instruments business operator, etc., the method of making the transfer to that financial instruments business operator, etc., or any other method specified by Cabinet Order;

specified cumulative investment listed shares, etc. entered or recorded in, or held in custody in, a minor's specified cumulative investment account are to be handled as specified below until December 31 of the year preceding the reference year of that resident or nonresident who has a permanent establishment:

no transfer of custody of those specified cumulative investment listed shares, etc. from that account to an other custody account, and no return of securities pertaining to those specified cumulative investment listed shares, etc. to that resident or nonresident who has a permanent establishment, is to be made (excluding the transfer of custody or return specified below according to the category of year listed below):

each year up to and including the year preceding the year in which that resident or nonresident who has a permanent establishment is 12 years of age on March 31 of that year (referred to as the "specified reference year" in (ii) and item (x), (b)): a transfer of custody or return due to a disaster, illness or other unavoidable reason specified by Cabinet Order that is made with regard to all of the specified cumulative investment listed shares, etc. and money or other assets entered or recorded in, held in custody in, or deposited or entrusted in, that account and the specified taxable minor's account established at the same time as that account (referred to as a "return, etc. due to a disaster, etc." in (f), item (x), (b), (1) and the following paragraph), and a transfer of custody or return due to any other reason specified by Cabinet Order;

each year from the specified reference year of that resident or nonresident who has a permanent establishment onward: the transfer of custody or return specified in (i), and the transfer of custody or return in the case where that resident or nonresident who has a permanent establishment has submitted to the head of the business office of the financial instruments business operator, etc. at which that account is opened a document stating a request for the transfer of custody of those specified cumulative investment listed shares, etc. from that account to an other custody account or for the return of securities pertaining to those specified cumulative investment listed shares, etc. to that resident or nonresident who has a permanent establishment, the reason giving rise to that transfer of custody or return (limited to one for appropriating it to the payment of educational expenses or living expenses of that resident or nonresident who has a permanent establishment), and other matters specified by Order of the Ministry of Finance (such submission includes the provision, by electronic or magnetic means in lieu of the submission of that document, of the matters to be stated in that document).

no transfer of those specified cumulative investment listed shares, etc. by a method other than the methods prescribed in (d) that is specified by Cabinet Order, and no gift of them, is to be made;

the consideration for the transfer of those specified cumulative investment listed shares, etc. (including money or other assets whose amount is deemed, pursuant to the provisions of Article 37-11, paragraph (4), to be revenue pertaining to capital gains, etc. on listed shares, etc. prescribed in that paragraph; the same applies in paragraph (8)) or money or other assets delivered as dividends, etc. pertaining to those specified cumulative investment listed shares, etc. (excluding those specified by Cabinet Order) is to be deposited or entrusted in that specified taxable minor's account immediately after its receipt.

where, with respect to that account, an event by which the account ceases to meet the requirements listed in (e) or a return, etc. due to a disaster, etc. occurs, that account and the specified taxable minor's account established at the same time as that account are to be closed at the time those events (referred to as an "event for closing a tax-exempt account, etc." in paragraph (33), item (i)) occur;

beyond what is listed in (a) through (f), matters specified by Cabinet Order.

specified cumulative investment account: an account for keeping records of entries or records in the transfer account book or custody of specified cumulative investment listed shares, etc. entered or recorded in the transfer account book or placed in custody under a specified tax-exempt cumulative investment contract, separately from records of other transactions, which satisfies the following requirements:

the account is established only in each year from 2024 (where the account is one to be established in each year in which the resident or nonresident who has a permanent establishment who has concluded that specified tax-exempt cumulative investment contract is under 18 years of age on January 1 of that year and in the year that includes the person's date of birth, 2027) onward (referred to as "each year of the account-setting period" in (b));

the account is established on January 1 of each year of the account-setting period (in the year that includes the day on which that submission prescribed in item (i) of a written notification of opening of a tax-exempt account (excluding one to which a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance is attached, one in which the matters stated in the written notice of account closure prescribed in item (xi) or the particulars of the written notice of closure of a tax-exempt account prescribed in item (xii) are stated, and one for which those matters stated in the written notice of account closure or those particulars of the written notice of closure of a tax-exempt account are provided by electronic or magnetic means together with the submission of that written notification of opening of a tax-exempt account prescribed in item (i); the same applies in paragraphs (12) and (13)) was made, where that submission was made during the year, the day of that submission, and where a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance has been submitted, where a written notification of opening of a tax-exempt account in which those matters stated in the written notice of account closure or those particulars of the written notice of closure of a tax-exempt account are stated has been submitted, or where those matters stated in the written notice of account closure or those particulars of the written notice of closure of a tax-exempt account have been provided by electronic or magnetic means, the day on which the submission of those documents, the submission of that written notification of opening of a tax-exempt account or the provision of those matters stated in the written notice of account closure or those particulars of the written notice of closure of a tax-exempt account (referred to as the "submission or provision of a closure notice" in (b) and (c)) was made (where that submission or provision of a closure notice was made before January 1 of the year in which the account is to be established, that January 1));

where the submission or provision of a closure notice was made before January 1 of the year in which the account is to be established and the account is established on that day, the matters specified in paragraph (27), item (ii) have not been provided before that day by the competent district director referred to in that paragraph pursuant to the provisions of that paragraph with regard to the matters submitted prescribed in paragraph (26) pertaining to that submission or provision of a closure notice.

the account (limited to one established in each year in which the resident or nonresident who has a permanent establishment who has concluded that specified tax-exempt cumulative investment contract is under 18 years of age on January 1 of that year and in the year that includes the person's date of birth) is not established in any other tax-exempt account prescribed in paragraph (19).

specified tax-exempt management account: an account for keeping records of entries or records in the transfer account book or custody of listed shares, etc. entered or recorded in the transfer account book or placed in custody under a specified tax-exempt cumulative investment contract, separately from records of other transactions, which is established at the same time as a specified cumulative investment account (excluding a minor's specified cumulative investment account; the same applies in item (xi));

specified taxable minor's account: an account opened by a resident or nonresident who has a permanent establishment who has opened a tax-exempt account (limited to a person who is under 18 years of age on January 1 of that year or a person born during that year), at the business office of the financial instruments business operator, etc. at which that tax-exempt account is opened or at a business office of a corporation that has a relationship specified by Cabinet Order with that financial instruments business operator, etc., which consists of a deposit account, savings account, or account for the management of money or other assets entrusted by customers (limited to such accounts in which no matters concerning transactions other than transactions under a contract for managing a specified taxable minor's account are handled), and which is established at the same time as that tax-exempt account;

contract for managing a specified taxable minor's account: a contract concluded by the resident or nonresident who has a permanent establishment referred to in paragraph (1) who receives the application of the provisions of Article 9-8 (limited to the part pertaining to paragraph (1), item (iii)) and the provisions of paragraph (1) (limited to the part pertaining to item (iii)) and the preceding three paragraphs, with the financial instruments business operator, etc. at which the person opens a tax-exempt account, when opening an account consisting of the deposit account, savings account, or account for the management of money or other assets entrusted by customers referred to in the preceding item (limited to a contract concluded at the same time as a specified tax-exempt cumulative investment contract), in the contract document of which the following matters are provided:

deposits or entrustments of money or other assets are to be made in the taxable management account (meaning an account for keeping records of deposits or entrustments of money or other assets deposited or entrusted under a contract for managing a specified taxable minor's account, separately from records of other transactions) established in the account pertaining to those deposits or entrustments;

no withdrawal of the money or other assets deposited or entrusted in that account from that account (excluding the withdrawal specified below according to the category of year listed below) is to be made until December 31 of the year preceding the reference year of that resident or nonresident who has a permanent establishment:

each year up to and including the year preceding the specified reference year of that resident or nonresident who has a permanent establishment: a withdrawal made for the acquisition of specified cumulative investment listed shares, etc. to be entered or recorded in, or held in custody in, the tax-exempt account, and a withdrawal due to a disaster, etc. (meaning a withdrawal of that money or other assets in the case where a return, etc. due to a disaster, etc. is made with respect to specified cumulative investment listed shares, etc. entered or recorded in, or held in custody in, the tax-exempt account; the same applies in (c));

each year from the specified reference year of that resident or nonresident who has a permanent establishment onward: the withdrawal specified in (1), and the withdrawal in the case where that resident or nonresident who has a permanent establishment has submitted to the head of the business office of the financial instruments business operator, etc. at which that account is opened a document stating a request for the withdrawal of that money or other assets, the reason giving rise to that withdrawal (limited to one for appropriating it to the payment of educational expenses or living expenses of that resident or nonresident who has a permanent establishment), and other matters specified by Order of the Ministry of Finance (such submission includes the provision, by electronic or magnetic means in lieu of the submission of that document, of the matters to be stated in that document).

where, with respect to that account, an event by which the account ceases to meet the requirements listed in (b) or a withdrawal due to a disaster, etc. occurs, that account and the tax-exempt account established at the same time as that account are to be closed at the time those events (referred to as an "event for closing a specified taxable minor's account, etc." in paragraph (33), item (i)) occur;

beyond what is listed in (a) through (c), matters specified by Cabinet Order.

written notice of account closure: a document that a resident or nonresident who has a permanent establishment has received, pursuant to the provisions of paragraphs (19) through (21), from the head of the business office of the financial instruments business operator, etc. prescribed in paragraph (19), in which the person's name and date of birth, the date on which the tax-exempt management account, cumulative investment account or specified cumulative investment account was closed, and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this Article as "matters stated in the written notice of account closure") are stated;

written notice of closure of a tax-exempt account: a document that a resident or nonresident who has a permanent establishment has received, pursuant to the provisions of paragraphs (22) through (24), from the head of the business office of the financial instruments business operator, etc. prescribed in paragraph (22), in which the person's name and date of birth, the date on which the tax-exempt account was closed, whether or not listed shares, etc. have been accepted into the tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account for the year that includes the day of that closure, and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this Article as the "particulars of the written notice of closure of a tax-exempt account") are stated.

Where, by December 31 of the year preceding the reference year of a resident or nonresident who has a permanent establishment who opens a tax-exempt account and a specified taxable minor's account, an event of non-performance of contract, etc. (meaning the occurrence, with respect to a specified tax-exempt cumulative investment contract or a contract for managing a specified taxable minor's account or the performance thereof, of an event by which the requirements listed in item (vi), (e) or item (x), (b) of the preceding paragraph are not met, or the closure of a tax-exempt account or specified taxable minor's account (excluding a closure due to the occurrence of a return, etc. due to a disaster, etc. and a closure of a tax-exempt account upon departure from Japan); the same applies hereinafter in this paragraph and in paragraphs (8) and (42)) occurs with respect to that tax-exempt account or specified taxable minor's account, the provisions of this Act and the Income Tax Act apply as specified below. In this case, the amount of business income, the amount of capital gains, and the amount of miscellaneous income from the transfer of listed shares, etc. in a tax-exempt account under the provisions of items (i) through (iii) and the amount of business income, the amount of capital gains, and the amount of miscellaneous income from the transfer of shares, etc. other than those listed shares, etc. in a tax-exempt account are to be calculated separately, pursuant to the provisions of Cabinet Order:

with regard to business income, capital gains, or miscellaneous income from the transfer of listed shares, etc. in a tax-exempt account made during the period from the time the tax-exempt account was opened until the time the event of non-performance of contract, etc. occurred, the provisions of paragraphs (1) and (2) are deemed not to have applied, and those listed shares, etc. in a tax-exempt account are deemed to have been transferred, at the time the event of non-performance of contract, etc. occurred, by a transfer other than a transfer made in accordance with the method specified in the specified tax-exempt cumulative investment contract;

with regard to listed shares, etc. in a tax-exempt account that were subject to a transfer of custody to an other custody account or a return of securities pertaining to listed shares, etc. in a tax-exempt account to the resident or nonresident who has a permanent establishment (excluding a transfer of custody or return due to a reason specified by Cabinet Order prescribed in item (vi), (e), (1), (i) of the preceding paragraph; the same applies hereinafter in this item and in item (iv)) during the period from the time the tax-exempt account was opened until the time the event of non-performance of contract, etc. occurred, the provisions of paragraph (4) are deemed not to have applied, and those listed shares, etc. in a tax-exempt account are deemed to have been transferred, at the time the event of non-performance of contract, etc. occurred, by a transfer other than a transfer made in accordance with the method specified in the specified tax-exempt cumulative investment contract, for the amount at the time of withdrawal as of the time of that transfer of custody or return;

the listed shares, etc. in a tax-exempt account that gave rise to the event of non-performance of contract, etc. and the listed shares, etc. in a tax-exempt account pertaining to that tax-exempt account at the time the event of non-performance of contract, etc. occurred are deemed to have been transferred, at the time the event of non-performance of contract, etc. occurred, by a transfer other than a transfer made in accordance with the method specified in the specified tax-exempt cumulative investment contract, for the amount at the time of withdrawal as of that time;

a resident or nonresident who has a permanent establishment who had opened that tax-exempt account and to whom the provisions of item (ii) apply is deemed to have acquired, at the time of the transfer of custody or return referred to in that item, for the amount at the time of withdrawal as of that time, shares, etc. of the same class as those listed shares, etc. in a tax-exempt account in a number equivalent to the number of the listed shares, etc. in a tax-exempt account withdrawn due to that transfer of custody or return;

a resident or nonresident who has a permanent establishment who had opened that tax-exempt account and to whom the provisions of item (iii) apply is deemed to have acquired, at the time the event of non-performance of contract, etc. occurred, for the amount at the time of withdrawal as of that time, shares, etc. of the same class as the listed shares, etc. in a tax-exempt account referred to in that item (excluding those that were transferred or given as a gift as prescribed in item (vi), (e), (2) of the preceding paragraph) in a number equivalent to the number of those listed shares, etc. in a tax-exempt account, and a person who acquired the listed shares, etc. in a tax-exempt account referred to in item (iii) by gift is deemed to have acquired, at the time the event of non-performance of contract, etc. occurred, for the amount at the time of withdrawal as of that time, shares, etc. of the same class as those listed shares, etc. in a tax-exempt account.

In the case referred to in the preceding paragraph, where the revenue pertaining to listed shares, etc. in a tax-exempt account deemed to have been transferred under the provisions of items (i) through (iii) of that paragraph is less than the sum of the acquisition cost of those listed shares, etc. in a tax-exempt account prescribed in Article 33, paragraph (3) of the Income Tax Act and the amount of expenses required for the transfer thereof, or is less than the necessary expenses for the transfer thereof, the amount of the shortfall is deemed not to exist for the purpose of applying the provisions of laws and regulations concerning income tax.

Where, by December 31 of the year preceding the reference year of a resident or nonresident who has a permanent establishment who opens a tax-exempt account and a specified taxable minor's account, an event of non-performance of contract, etc. occurs with respect to that tax-exempt account or specified taxable minor's account, the financial instruments business operator, etc. with which that tax-exempt account is opened must, upon the closure of the tax-exempt account due to the occurrence of that event of non-performance of contract, etc., collect income tax in the amount calculated by multiplying the amount obtained by deducting the amount listed in item (ii) from the amount listed in item (i) by a tax rate of 15 percent, and must pay it to the State no later than the 10th day of the month following the month that includes the day of the collection:

the total of the following amounts:

the total amount of consideration for the transfer of listed shares, etc. in a tax-exempt account pertaining to that tax-exempt account paid during the period from the day on which that tax-exempt account was opened until the day of that closure (excluding the amount of that part of the consideration for the transfer whose money or other assets were not deposited or entrusted in the specified taxable minor's account established at the same time as that tax-exempt account);

the total of the amounts at the time of withdrawal, as of the time of the transfer of custody or return, of specified cumulative investment listed shares, etc. that were subject to a transfer of custody prescribed in paragraph (6), item (ii) from that tax-exempt account to an other custody account, or a return prescribed in that item of securities pertaining to specified cumulative investment listed shares, etc. to the resident or nonresident who has a permanent establishment, during the period from the day on which that tax-exempt account was opened until the day of that closure;

the total of the amounts at the time of withdrawal, as of the day on which that tax-exempt account was closed, of the specified cumulative investment listed shares, etc. entered or recorded in the transfer account book pertaining to that tax-exempt account or held in custody in that tax-exempt account on that day.

the total of the amount of consideration for acquisition and the amount of expenses required for the acquisition, and the amount of expenses required for the transfer, of the specified cumulative investment listed shares, etc. listed in paragraph (5), item (vi), (b), (1) that were entered or recorded in, or held in custody in, that tax-exempt account during the period from the day on which that tax-exempt account was opened until the day on which that tax-exempt account was closed (excluding the amount of consideration for acquisition and the amount of expenses required for the acquisition, and the amount of expenses required for the transfer, of listed shares, etc. in a tax-exempt account whose money or other assets pertaining to the consideration for the transfer were not deposited or entrusted in the specified taxable minor's account established at the same time as that tax-exempt account, and other amounts specified by Cabinet Order).

Income tax to be collected and paid pursuant to the provisions of the preceding paragraph is deemed to be income tax pertaining to withholding at the source as prescribed in Article 2, paragraph (1), item (xlv) of the Income Tax Act, and the provisions of that Act, the Act on General Rules for National Taxes, and the National Tax Collection Act apply.

A resident or nonresident who has a permanent establishment who held a tax-exempt account with respect to income tax for a year and who has the amount of business income, the amount of capital gains, and the amount of miscellaneous income from the transfer of listed shares, etc. in a tax-exempt account pertaining to that tax-exempt account, as calculated under the provisions of paragraph (6) (limited to the part pertaining to items (i) through (iii)) for the transfer of those listed shares, etc. in a tax-exempt account, may, with respect to income tax for that year, apply the provisions of Articles 120 through 127 of the Income Tax Act (including as applied mutatis mutandis pursuant to Article 166 of that Act) and the provisions of Article 123, paragraph (1) of that Act (including as applied mutatis mutandis pursuant to Article 166 of that Act) as applied mutatis mutandis pursuant to Article 37-12-2, paragraph (9) (including as applied mutatis mutandis pursuant to Article 37-13-3, paragraph (10)), by excluding the amount of business income, the amount of capital gains, or the amount of miscellaneous income from the transfer of those listed shares, etc. in a tax-exempt account in calculating the amount of capital gains, etc. on listed shares, etc. prescribed in Article 37-11, paragraph (1), the amount of capital losses on listed shares, etc. prescribed in Article 37-12-2, paragraph (2) or (6), the amount of income other than employment income and retirement income prescribed in Article 121, paragraph (1) of the Income Tax Act (including as applied mutatis mutandis pursuant to Article 166 of that Act), or the amount of income other than miscellaneous income from public pensions, etc. prescribed in Article 121, paragraph (3) of that Act (including as applied mutatis mutandis pursuant to Article 166 of that Act).

For the purpose of applying those provisions in the case where a determination under Article 25 of the Act on General Rules for National Taxes (including a reassessment under Article 24 or 26 of that Act pertaining to that determination) is made with respect to income tax for a year of a resident or nonresident who has a permanent establishment prescribed in the preceding paragraph, the amount of business income, the amount of capital gains, or the amount of miscellaneous income from the transfer of listed shares, etc. in a tax-exempt account that falls under the provisions of that paragraph is not to be included in the tax base, etc. prescribed in those Articles.

The head of the business office of the financial instruments business operator, etc. referred to in paragraph (5), item (i) who has received the submission of a written notification of opening of a tax-exempt account must, promptly after receiving that submission, provide the matters stated in that written notification of opening of a tax-exempt account and other matters specified by Order of the Ministry of Finance (in the case of a written notification of opening of a tax-exempt account submitted by a person specified by Cabinet Order as a person who has already given notice of the individual number (referred to as a "person who has already notified the individual number" in paragraph (14)), those matters and the individual number of that person; hereinafter referred to in this paragraph and the following paragraph as "notification particulars") to the competent district director for the location of the business office of that financial instruments business operator, etc. (referred to as the "competent district director" in the following paragraph) by the method using a specified electronic data processing system (meaning the method specified by Order of the Ministry of Finance as a method using an electronic data processing system prescribed in Article 6, paragraph (1) of the Act on the Advancement of Government Administration Processes That Utilize Information and Communications Technology, which is used upon notifying the district director in advance pursuant to the provisions of Order of the Ministry of Finance; the same applies hereinafter in this Article and the following Article). In this case, the head of the business office of that financial instruments business operator, etc. must keep books for those written notifications of opening of a tax-exempt account and state or record the notification particulars therein for each person who has submitted a written notification of opening of a tax-exempt account.

The competent district director who has received the provision of the notification particulars referred to in the preceding paragraph is to confirm whether or not notification particulars had been provided under the provisions of the preceding paragraph to that competent district director or another district director before the time of receiving the provision of those notification particulars with regard to the resident or nonresident who has a permanent establishment who submitted the written notification of opening of a tax-exempt account pertaining to those notification particulars (hereinafter referred to in this paragraph as the "submitter"), and the competent district director who has made that confirmation must provide the matters specified in the following items according to the categories of cases listed in those items to the head of the business office of the financial instruments business operator, etc. that received the submission of the written notification of opening of a tax-exempt account pertaining to those notification particulars, by the method using an electronic data processing system (meaning an electronic data processing system connecting a computer used by the National Tax Agency and a computer used by the head of the business office of that financial instruments business operator, etc. via a telecommunications line). In this case, the head of the business office of that financial instruments business operator, etc. who has received the provision of the matters specified in item (ii) must notify the submitter that the written notification falls under what is specified in that item, and of the reason therefor:

where notification particulars have not been provided to that competent district director or another district director before the time of receiving the provision of those notification particulars: a statement that the written notification of opening of a tax-exempt account pertaining to those notification particulars falls under neither a notification that may not be accepted pursuant to the provisions of paragraph (15) nor a notification that may not be submitted pursuant to the provisions of paragraph (17), and other matters specified by Order of the Ministry of Finance;

where notification particulars have already been provided to that competent district director or another district director before the time of receiving the provision of those notification particulars: a statement that the written notification of opening of a tax-exempt account pertaining to those notification particulars falls under a notification that may not be accepted pursuant to the provisions of paragraph (15) or a notification that may not be submitted pursuant to the provisions of paragraph (17), the reason therefor, and other matters specified by Order of the Ministry of Finance.

A resident or nonresident who has a permanent establishment who seeks to submit a written notification of opening of a tax-exempt account must, pursuant to the provisions of Cabinet Order, upon that submission, notify the head of the business office of the financial instruments business operator, etc. referred to in paragraph (5), item (i) of the person's name, date of birth, address (for a person who does not have an address in Japan, the place specified by Order of the Ministry of Finance; the same applies hereinafter in this paragraph, the following paragraph and paragraph (41)) and individual number (for a person who has already notified the individual number, the name, date of birth and address; the same applies in the following paragraph), by presenting a copy of the person's certificate of residence or any other document specified by Cabinet Order or by transmitting a digital certificate for signature, etc. prescribed in Article 37-11-3, paragraph (4), and must have the notified matters confirmed.

The head of the business office of a financial instruments business operator, etc. may not accept a written notification of opening of a tax-exempt account in which a name, date of birth, address and individual number different from those notified as referred to in the preceding paragraph are stated, or a written notification of opening of a tax-exempt account submitted again by a resident or nonresident who has a permanent establishment who has already opened a tax-exempt account with that financial instruments business operator, etc.

Where a resident or nonresident who has a permanent establishment who has opened or had opened a tax-exempt account submits a written notification of opening of a tax-exempt account to the head of the business office of a financial instruments business operator, etc. other than the financial instruments business operator, etc. at which that tax-exempt account has been opened, the person must attach a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance to the written notification of opening of a tax-exempt account, state the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account in it, or provide the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account by electronic or magnetic means together with the submission of the written notification of opening of a tax-exempt account.

A resident or nonresident who has a permanent establishment who has opened or had opened a tax-exempt account may not submit to the head of the business office of a financial instruments business operator, etc. other than the financial instruments business operator, etc. at which that tax-exempt account has been opened a written notification of opening of a tax-exempt account (excluding one to which a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance is attached, one in which the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account are stated, and one for which the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account are provided by electronic or magnetic means together with the submission of that written notification of opening of a tax-exempt account (referred to as a "specified written notification for opening a tax-exempt account" in item (ii) of the following paragraph)).

Where a written notification of opening of a tax-exempt account falls under any of the following written notifications, the account for entries or records in the transfer account book or custody of listed shares, etc. opened through the submission of that written notification of opening of a tax-exempt account is deemed not to fall under a tax-exempt account from the time of the opening of that account, and the provisions of paragraph (5), item (i) and the provisions of other laws and regulations concerning income tax apply:

a written notification of opening of a tax-exempt account that may not be accepted pursuant to the provisions of paragraph (15), or a written notification of opening of a tax-exempt account that may not be submitted pursuant to the provisions of the preceding paragraph;

a specified written notification for opening a tax-exempt account in the case where the matters specified in paragraph (27), item (ii) have been provided by the competent district director referred to in that paragraph pursuant to the provisions of that paragraph with regard to the matters submitted prescribed in paragraph (26) pertaining to that specified written notification for opening a tax-exempt account.

Where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account at the business office of a financial instruments business operator, etc. seeks to establish a tax-exempt management account, cumulative investment account, specified cumulative investment account (excluding a minor's specified cumulative investment account; the same applies hereinafter up to paragraph (21) and in paragraphs (25) through (28)) or specified tax-exempt management account that is to be established in that tax-exempt account (hereinafter referred to in this paragraph and the following paragraph as the "tax-exempt account before the change") in a tax-exempt account other than that tax-exempt account before the change (hereinafter referred to in this paragraph as an "other tax-exempt account"), the person must submit (including providing, by electronic or magnetic means, the matters to be stated in the written notification of change of financial instruments business operator, etc. in lieu of submitting that written notification of change of financial instruments business operator, etc.; the same applies hereinafter up to that paragraph) to the head of the business office of that financial instruments business operator, etc., during the period from October 1 of the year preceding the year that includes the day on which that tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account is to be established in that tax-exempt account before the change until the day on which one year has elapsed from that day, a written notification stating that the person seeks to establish a tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account in an other tax-exempt account and other matters specified by Order of the Ministry of Finance (hereinafter referred to up to paragraph (21) as a "written notification of change of financial instruments business operator, etc."). In this case, if listed shares, etc. have already been accepted into that tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account on or before the day on which that written notification of change of financial instruments business operator, etc. is submitted, the head of the business office of that financial instruments business operator, etc. may not accept that written notification of change of financial instruments business operator, etc.

Where a written notification of change of financial instruments business operator, etc. has been submitted pursuant to the provisions of the preceding paragraph, the following provisions apply:

where the tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account pertaining to that written notification of change of financial instruments business operator, etc. has already been established, that tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account is to be closed at the time of that submission;

in each year following the year that includes the day on which that written notification of change of financial instruments business operator, etc. was submitted, the head of the business office of the financial instruments business operator, etc. that received the submission of that written notification of change of financial instruments business operator, etc. may not newly establish a tax-exempt management account, cumulative investment account or specified cumulative investment account in that tax-exempt account before the change; provided, however, that this does not apply where the head of the business office of that financial instruments business operator, etc. has, after that day, received the submission of a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance, or the provision by electronic or magnetic means of the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account, pursuant to the provisions of paragraph (25), and has received the provision of the matters specified in paragraph (27), item (i) from the competent district director for the location of the business office of that financial instruments business operator, etc.

The head of the business office of a financial instruments business operator, etc. that has received the submission of a written notification of change of financial instruments business operator, etc. must, promptly after receiving that submission, provide the name of the person who submitted that written notification of change of financial instruments business operator, etc., a statement that the written notification of change of financial instruments business operator, etc. has been received, the date on which the tax-exempt management account, cumulative investment account or specified cumulative investment account was closed, and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this paragraph and paragraph (27) as "change notification information") to the competent district director for the location of the business office of that financial instruments business operator, etc. by the method using a specified electronic data processing system, and the head of the business office of the financial instruments business operator, etc. that has provided that change notification information must deliver a written notice of account closure, or provide the matters stated in the written notice of account closure by electronic or magnetic means, to the resident or nonresident who has a permanent establishment who submitted that written notification of change of financial instruments business operator, etc.

Where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account seeks to cease receiving the application of the provisions of Article 9-8 and paragraphs (1) through (4) with regard to that tax-exempt account, the person must submit (including providing, by electronic or magnetic means, the matters to be stated in the written notification of closure of a tax-exempt account in lieu of submitting that written notification of closure of a tax-exempt account; the same applies in the following paragraph and paragraph (24)) to the head of the business office of the financial instruments business operator, etc. at which that tax-exempt account has been opened a written notification stating that the person will close that tax-exempt account and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this Article as a "written notification of closure of a tax-exempt account").

Where a written notification of closure of a tax-exempt account has been submitted, the tax-exempt account pertaining to that written notification of closure of a tax-exempt account is to be closed at the time of that submission, and the provisions of Article 9-8, paragraph (1) and paragraphs (1) through (3) do not apply to dividends and similar income prescribed in that paragraph to be received after the time of that submission with regard to listed shares, etc. that had been accepted into that tax-exempt account, or to income from the transfer of those listed shares, etc. made after the time of that submission.

The head of the business office of a financial instruments business operator, etc. that has received the submission of a written notification of closure of a tax-exempt account must, promptly after receiving that submission, provide the name of the person who submitted that written notification of closure of a tax-exempt account, a statement that the written notification of closure of a tax-exempt account has been received, the date on which the tax-exempt account was closed, and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this paragraph and paragraph (27) as "closure notification particulars") to the competent district director for the location of the business office of that financial instruments business operator, etc. by the method using a specified electronic data processing system, and the head of the business office of the financial instruments business operator, etc. that has provided those closure notification particulars must, only in the cases specified in the following items according to the categories of cases listed in those items, deliver a written notice of closure of a tax-exempt account, or provide the particulars of the written notice of closure of a tax-exempt account by electronic or magnetic means, to the resident or nonresident who has a permanent establishment who submitted that written notification of closure of a tax-exempt account:

where the submission of that written notification of closure of a tax-exempt account is received during the period from January 1 to September 30: when a tax-exempt management account, cumulative investment account or specified cumulative investment account for the year that includes the day on which that submission is received had been established in that tax-exempt account on that day;

where the submission of that written notification of closure of a tax-exempt account is received during the period from October 1 to December 31: when a tax-exempt management account, cumulative investment account or specified cumulative investment account for the year following the year that includes the day on which that submission is received was to be established in that tax-exempt account as of that day.

Where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account at the business office of a financial instruments business operator, etc. seeks to establish a tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account in that tax-exempt account by submitting a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance, or by providing the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account by electronic or magnetic means, the person must submit those documents, or provide the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account by electronic or magnetic means, to the head of the business office of that financial instruments business operator, etc. during the period from October 1 of the year preceding the year pertaining to the tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account to be established until the day on which one year has elapsed from that day. In this case, where listed shares, etc. have already been accepted into the tax-exempt management account, cumulative investment account, specified cumulative investment account or specified tax-exempt management account for the year that includes the day on which the tax-exempt account was closed, in the tax-exempt account that gave rise to the delivery of that written notice of closure of a tax-exempt account or the provision of the particulars of the written notice of closure of a tax-exempt account by electronic or magnetic means, the head of the business office of that financial instruments business operator, etc. may not, during the period from the day of that closure to September 30 of the year that includes that day, accept that written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance, or an electronic or magnetic record (meaning a record made in an electronic form, a magnetic form or any other form not recognizable to human perception, which is used in information processing by computers) recording the particulars of the written notice of closure of a tax-exempt account provided by electronic or magnetic means.

The head of the business office of a financial instruments business operator, etc. that has received the submission or provision of a written notice of account closure, a written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance referred to in paragraph (16) or the preceding paragraph (including those documents submitted attached to a written notification of opening of a tax-exempt account, the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account in the case where a written notification of opening of a tax-exempt account in which those matters or particulars are stated has been submitted, and the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account provided by electronic or magnetic means; hereinafter referred to in this paragraph and the following paragraph as a "closure notice") must, promptly after receiving that submission or provision, provide the name of the resident or nonresident who has a permanent establishment who made that submission or provision, a statement that the closure notice has been submitted or provided, the date on which the tax-exempt management account, cumulative investment account or specified cumulative investment account pertaining to that closure notice was closed or the date on which the tax-exempt account was closed (collectively referred to as the "date of closure" in the following paragraph), and other matters specified by Order of the Ministry of Finance (hereinafter referred to in this paragraph and the following paragraph as the "matters submitted") to the competent district director for the location of the business office of that financial instruments business operator, etc. (referred to as the "competent district director" in the following paragraph) by the method using a specified electronic data processing system. In this case, the head of the business office of that financial instruments business operator, etc. must keep books for those closure notices and state or record the matters submitted therein for each person who made the submission or provision of a closure notice.

The competent district director who has received the provision of those matters submitted is to confirm whether or not change notification information or closure notification particulars (limited to those whose date of closure is the same as that of those matters submitted) under the provisions of paragraph (21) or paragraph (24) pertaining to the resident or nonresident who has a permanent establishment who made the submission or provision of that closure notice (hereinafter referred to in this paragraph as the "submitter") have been provided, and the competent district director who has made that confirmation must provide the matters specified in the following items according to the categories of cases listed in those items to the head of the business office of the financial instruments business operator, etc. that provided those matters submitted, by the method using an electronic data processing system (meaning an electronic data processing system connecting a computer used by the National Tax Agency and a computer used by the head of the business office of that financial instruments business operator, etc. via a telecommunications line):

where change notification information or closure notification particulars pertaining to that submitter have been provided (excluding where the case falls under the case listed in the following item): a statement that the submitter may open a tax-exempt account at the business office of that financial instruments business operator, etc. or that a tax-exempt management account, cumulative investment account or specified cumulative investment account may be established in the submitter's tax-exempt account opened at that business office, and other matters specified by Order of the Ministry of Finance;

where change notification information or closure notification particulars pertaining to that submitter have not been provided, or where matters submitted pertaining to the same submitter (limited to those with the same date of closure) have already been provided to that competent district director or another district director before the time of receiving the provision of those matters submitted: a statement that the submitter may not open a tax-exempt account at the business office of that financial instruments business operator, etc. and that a tax-exempt management account, cumulative investment account and specified cumulative investment account may not be established in the submitter's tax-exempt account opened at that business office, the reason therefor, and other matters specified by Order of the Ministry of Finance.

Where, with regard to the matters submitted prescribed in paragraph (26) pertaining to the written notice of account closure, written notice of closure of a tax-exempt account or any other document specified by Order of the Ministry of Finance referred to in paragraph (25) (including the matters stated in the written notice of account closure or the particulars of the written notice of closure of a tax-exempt account provided by electronic or magnetic means; hereinafter referred to in this paragraph as a "written notice of account closure, etc."), the matters specified in item (ii) of the preceding paragraph have been provided by the competent district director referred to in that paragraph pursuant to the provisions of that paragraph, the account established in the tax-exempt account through the submission or provision of that written notice of account closure, etc. for keeping records of entries or records in the transfer account book or custody of listed shares, etc. entered or recorded in the transfer account book pertaining to that account or placed in custody, separately from records of other transactions, is deemed not to fall under a specified cumulative investment account and a specified tax-exempt management account from the time of the establishment of that account, and to have been established in an account for entries or records in the transfer account book or custody of listed shares, etc. that does not fall under a tax-exempt account, and the provisions of paragraph (5), item (i) and items (vi) through (viii) and the provisions of other laws and regulations concerning income tax apply.

Where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account ceases to fall under a resident or nonresident who has a permanent establishment due to absence from Japan (meaning, for a resident, ceasing to have an address or residence in Japan, and, for a nonresident who has a permanent establishment, ceasing to have a permanent establishment; the same applies hereinafter in this paragraph, paragraph (33), item (ii) and paragraph (26) of the following Article), the person must, by the day before the day of that absence from Japan, submit (including providing, by electronic or magnetic means, the matters to be stated in the written notification in lieu of submitting that written notification) to the head of the business office of the financial instruments business operator, etc. at which that tax-exempt account has been opened the written notification specified in the following items according to the categories of cases listed in those items:

where a resident (excluding a person who receives the application of the provisions of Article 60-2, paragraph (1) of the Income Tax Act with regard to income tax for the year that includes the day of that absence from Japan) or a nonresident who has a permanent establishment who seeks to have listed shares, etc. accepted again into that tax-exempt account under a contract for managing tax-exempt listed shares, etc., a tax-exempt cumulative investment contract or a specified tax-exempt cumulative investment contract after a return to Japan (meaning coming to fall under a resident or nonresident who has a permanent establishment; the same applies in paragraph (31)), and whose absence from Japan is due to an order of transfer from the person paying the person's salary, etc. prescribed in Article 28, paragraph (1) of that Act (for a person who is under 18 years of age on January 1 of the year that includes the day of that absence from Japan or a person born during that year, including that order of transfer pertaining to a relative who supports that resident or nonresident who has a permanent establishment) or any other unavoidable reason equivalent thereto, seeks to continue to receive the application of the provisions of paragraphs (1) through (4) and Article 9-8: a written notification stating to that effect and other matters specified by Order of the Ministry of Finance (referred to as a "notification of continued application" in the following paragraph, paragraph (31) and paragraph (33), item (iii));

a case other than the case listed in the preceding item: a written notification stating that the person will be absent from Japan and other matters specified by Order of the Ministry of Finance.

Where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account has submitted a notification of continued application pursuant to the provisions of the preceding paragraph, the person is deemed to continue to fall under a resident or nonresident who has a permanent establishment, and the provisions of this Article (excluding paragraphs (12) through (21), paragraph (25) through the preceding paragraph, paragraph (38) and paragraph (39)) and Article 9-8 apply.

Where a person who has submitted a notification of continued application under paragraph (29) seeks, after the person's return to Japan, to again have listed shares, etc. accepted into the tax-exempt account referred to in item (i) of that paragraph under a contract for managing tax-exempt listed shares, etc., a tax-exempt cumulative investment contract, or a specified tax-exempt cumulative investment contract, the person must, no later than December 31 of the year that includes the day on which five years have elapsed, counting from the day on which the person submitted the notification of continued application, submit a notification of return to Japan (meaning a written notification stating that the person has returned to Japan, the date of the return to Japan, that the person seeks to have listed shares, etc. accepted into the tax-exempt account under a contract for managing tax-exempt listed shares, etc., a tax-exempt cumulative investment contract, or a specified tax-exempt cumulative investment contract, and other matters specified by Order of the Ministry of Finance; the same applies hereinafter through paragraph (33)) to the head of the business office of the financial instruments business operator, etc. to which the person submitted the notification of continued application (such submission includes the provision, by electronic or magnetic means in lieu of the submission of the notification of return to Japan, of the matters to be stated in the notification of return to Japan; the same applies in the following paragraph).

The provisions of paragraphs (14) and (15) apply mutatis mutandis to a resident or a nonresident who has a permanent establishment who submits a notification of return to Japan and to the head of the business office of the financial instruments business operator, etc. that has received the notification of return to Japan. In this case, the phrase "a written notification of opening of a tax-exempt account and a written notification of opening of a tax-exempt account submitted again by a resident or a nonresident who has a permanent establishment who has already opened a tax-exempt account with the financial instruments business operator, etc." in paragraph (15) is deemed to be replaced with "a notification of return to Japan".

The provisions of paragraphs (23) and (24) apply in the cases listed in the following items as specified respectively in those items:

where a tax-exempt account has been closed due to the occurrence of an event for closing a tax-exempt account, etc. or an event for closing a specified taxable minor's account, etc. with respect to a specified tax-exempt cumulative investment contract or a contract for managing a specified taxable minor's account or the performance thereof: the resident or nonresident who has a permanent establishment who has opened that tax-exempt account is deemed to have made, at the time those events occurred, the submission prescribed in paragraph (22) of a written notification of closure of a tax-exempt account to the head of the business office of the financial instruments business operator, etc. at which that tax-exempt account is opened;

where a resident or nonresident who has a permanent establishment who has opened a tax-exempt account ceases to fall under the category of a resident or nonresident who has a permanent establishment due to absence from Japan: the person is deemed to have made, at the time of that absence from Japan, the submission prescribed in paragraph (22) of a written notification of closure of a tax-exempt account to the head of the business office of the financial instruments business operator, etc. at which that tax-exempt account is opened;

where a person who has submitted a notification of continued application under paragraph (29) has not submitted a notification of return to Japan under paragraph (31) by December 31 of the year that includes the day on which five years have elapsed, counting from the day on which the person submitted that notification of continued application: the person is deemed to have made, on that December 31, the submission prescribed in paragraph (22) of a written notification of closure of a tax-exempt account to the head of the business office of the financial instruments business operator, etc. to which the person submitted that notification of continued application.

Where, on December 31 of each year on or after 2025 (hereinafter referred to as the "base date" in this paragraph), there are listed shares, etc. accepted into a specified cumulative investment account or specified tax-exempt management account established in a tax-exempt account that had been opened at a business office of a financial instruments business operator, etc. (where those listed shares, etc. are listed shares, etc. accepted into a minor's specified cumulative investment account, limited to the case where the resident or the nonresident who has a permanent establishment who has opened the tax-exempt account is 18 years of age or older on January 1 of the year that includes the base date (hereinafter referred to as the "reference year for providing information" through paragraph (36))), the head of that business office of the financial instruments business operator, etc. must provide the name and date of birth of the resident or the nonresident who has a permanent establishment who has opened the tax-exempt account, the amount specified by Cabinet Order as the amount equivalent to the purchase price of the listed shares, etc., and other matters specified by Order of the Ministry of Finance (hereinafter referred to as "base amount information to be provided" in this paragraph and the following paragraph) to the competent district director with jurisdiction over the location of the business office of the financial instruments business operator, etc., no later than January 31 of the year following the reference year for providing information, by the method specified by Order of the Ministry of Finance as a method using the electronic data processing system prescribed in Article 6, paragraph (1) of the Act on the Advancement of Government Administration Processes That Utilize Information and Communications Technology, which is carried out after notifying the district director in advance pursuant to the provisions of Order of the Ministry of Finance. In this case, the head of the business office of the financial instruments business operator, etc. must keep books regarding the base amount information to be provided, and must enter or record the base amount information to be provided for each such resident or nonresident who has a permanent establishment.

Where the competent district director with jurisdiction over the location of the business office of the financial instruments business operator, etc. at which has been opened the tax-exempt account of the resident or the nonresident who has a permanent establishment to whom the base amount information to be provided referred to in the preceding paragraph pertains, being an account in which a specified cumulative investment account for the year following the reference year for providing information to which the base amount information to be provided pertains (excluding a minor's specified cumulative investment account; the same applies in the following paragraph) is established, differs from the competent district director referred to in the preceding paragraph, the competent district director referred to in that paragraph who has received the base amount information to be provided is to notify the competent district director for that location of the base amount information to be provided.

The competent district director with jurisdiction over the location of the business office of the financial instruments business operator, etc. at which has been opened a tax-exempt account of a resident or a nonresident who has a permanent establishment in which a specified cumulative investment account for the year following the reference year for providing information is established must provide the base amount for the specified cumulative investment account and the base amount for the specified tax-exempt management account pertaining to the specified cumulative investment account and the specified tax-exempt management account established at the same time as the specified cumulative investment account, and other matters specified by Order of the Ministry of Finance, to the head of the business office of the financial instruments business operator, etc., by a method using an electronic data processing system (meaning an electronic data processing system connecting, through a telecommunications line, a computer used by the National Tax Agency and a computer used by the head of the business office of the financial instruments business operator, etc.). In this case, the head of the business office of the financial instruments business operator, etc. that has received those matters must notify the resident or the nonresident who has a permanent establishment of the base amount for the specified cumulative investment account and the base amount for the specified tax-exempt management account.

Where the head of the business office of a financial instruments business operator, etc. has obtained, pursuant to the provisions of Cabinet Order, the approval of the competent district director prescribed in paragraph (12), (21), (24), (26), or (34) or any other provision specified by Cabinet Order (hereinafter referred to as the "competent district director" in this paragraph), the head of the business office of the financial instruments business operator, etc. may, notwithstanding those provisions, provide the matters required to be provided under those provisions (hereinafter referred to as the "matters to be provided" in this paragraph) to the district director specified by Order of the Ministry of Finance, by a method using a specified electronic data processing system or by the method referred to in paragraph (34). In this case, the provisions of Article 9-8 and this Article apply by deeming that the head of the business office of the financial instruments business operator, etc. has provided the matters to be provided to the competent district director.

Where a resident or a nonresident who has a permanent establishment has a minor's account opened at a business office of a financial instruments business operator, etc. on January 1 of any year from 2017 through 2023 (limited to a year in which the resident or the nonresident who has a permanent establishment is 18 years of age on January 1 of that year), the provisions of Article 9-8 and this Article apply by deeming that the resident or the nonresident who has a permanent establishment submitted a written notification of opening of a tax-exempt account to the head of the business office of the financial instruments business operator, etc. on that date, that the resident or the nonresident who has a permanent establishment concluded a contract for managing tax-exempt listed shares, etc. with the financial instruments business operator, etc. on that date, and that the head of the business office of the financial instruments business operator, etc. provided the notification particulars prescribed in paragraph (12) to the competent district director prescribed in that paragraph on that date.

Where a resident or a nonresident who has a permanent establishment has a minor's account opened at a business office of a financial instruments business operator, etc. on January 1 of any year from 2024 through 2027 (limited to a year in which the resident or the nonresident who has a permanent establishment is 18 years of age on January 1 of that year), the provisions of Article 9-8 and this Article apply by deeming that the resident or the nonresident who has a permanent establishment submitted a written notification of opening of a tax-exempt account to the head of the business office of the financial instruments business operator, etc. on that date, that the resident or the nonresident who has a permanent establishment concluded a specified tax-exempt cumulative investment contract with the financial instruments business operator, etc. on that date, and that the head of the business office of the financial instruments business operator, etc. provided the notification particulars prescribed in paragraph (12) to the competent district director prescribed in that paragraph on that date.

In addition to what is provided for in paragraph (14) through the preceding paragraph, matters concerning books to be kept by a financial instruments business operator, etc. with regard to tax-exempt accounts, matters concerning the notification in the case where an individual who has submitted a written notification of opening of a tax-exempt account has changed or is to change any matter stated in the written notification of opening of a tax-exempt account after its submission, and other necessary matters concerning the application of the provisions of paragraphs (1) through (13) are specified by Cabinet Order.

Where, in a year, there was a tax-exempt account opened at a business office of a financial instruments business operator, etc. in which a tax-exempt management account, cumulative investment account, or specified cumulative investment account had been established, the financial instruments business operator, etc. must, pursuant to the provisions of Order of the Ministry of Finance, prepare a report stating the name and address of the resident or the nonresident who has a permanent establishment who opened the tax-exempt account, the amount of consideration for the transfer of listed shares, etc. processed in the tax-exempt account during that year, the amount of dividends and similar income on listed shares, etc. in a tax-exempt account pertaining to the tax-exempt account, and other matters specified by Order of the Ministry of Finance, and must submit it, no later than January 31 of the year following that year, to the competent district director with jurisdiction over the location of the business office of the financial instruments business operator, etc. at which the tax-exempt account is opened.

In the case referred to in paragraph (8), the financial instruments business operator, etc. referred to in that paragraph must, by the last day of the month following the month that includes the day on which the event of non-performance of contract, etc. referred to in that paragraph occurred, deliver to the resident or nonresident who has a permanent establishment referred to in that paragraph the report prescribed in the preceding paragraph.

A financial instruments business operator, etc. may, in lieu of delivering the report under the provisions of the preceding paragraph, with the consent of the resident or nonresident who has a permanent establishment prescribed in that paragraph, provide the matters to be stated in that report by the electronic or magnetic means prescribed in Article 37-11-3, paragraph (9); provided, however, that it must deliver that report to that resident or nonresident who has a permanent establishment if requested by that person.

In the case referred to in the main clause of the preceding paragraph, the financial instruments business operator, etc. referred to in that paragraph is deemed to have delivered the report referred to in paragraph (42).

Special provisions of Articles 224, 224-3, and 225 of the Income Tax Act concerning the transfer of listed shares, etc. processed in a tax-exempt account or dividends and similar income on listed shares, etc. in a tax-exempt account, and other necessary matters concerning the application of the provisions of paragraphs (41) through (43) are specified by Cabinet Order.

When it is necessary for an investigation concerning the submission of the report referred to in paragraph (41), the relevant officials of the National Tax Agency, a Regional Taxation Bureau, or a tax office may ask questions of a person obligated to submit the report, inspect the person's tax-exempt account and the books and documents or other articles concerning the handling of listed shares, etc. in the tax-exempt account, or request the presentation or submission of those articles (including copies thereof).

When it is necessary for an investigation concerning the submission of the report referred to in paragraph (41), the relevant officials of the National Tax Agency, a Regional Taxation Bureau, or a tax office may retain articles submitted in the investigation.

When asking questions, conducting an inspection, or requesting presentation or submission under paragraph (46), the relevant officials of the National Tax Agency, a Regional Taxation Bureau, or a tax office must carry a certificate showing their identification and must present it if requested by a person concerned.

The authority of the relevant officials under paragraphs (46) and (47) must not be construed as being granted for the purpose of criminal investigation.

In addition to what is provided for in the preceding paragraph, necessary matters concerning the application of the provisions of paragraph (47) are specified by Cabinet Order.