Article 55Reporting the Making and Receipt of Payments

①Except in a case prescribed by Cabinet Order, when a resident or non-resident has made a payment from Japan to a foreign country, or has received a payment that was made from a foreign country to Japan, that resident or non-resident must report the substance of the payment being made and received, its timing, and any other information that Cabinet Order prescribes to the competent minister, pursuant to the provisions of Cabinet Order; and when a resident has made a payment to or received a payment from a non-resident in Japan or a foreign country, the resident must report the substance of the payment being made and received, its timing, and any other information that Cabinet Order prescribes to the competent minister, pursuant to the provisions of Cabinet Order.

②If a payment as referred to in the preceding paragraph that is the subject of a report under that paragraph is made or received through a funds transfer transaction conducted by a bank or other prescribed financial institution or a funds transfer service provider, the report is to be made, pursuant to Cabinet Order, through the bank or other prescribed financial institution or the funds transfer service provider; provided, however, that if an electronic data processing system as prescribed in Article 6, paragraph (1) of the Act on the Promotion of Utilizing Information and Communications Technology in Administrative Procedures (Act No. 151 of 2002) is used to make a report pursuant to the provisions of that paragraph, it may be made without going through the bank or other prescribed financial institution or the funds transfer service provider.