The one-institution rule, deadlines and documents, existing holdings, why NISA assets are not transferred, and a transition checklist.
You can generally change your NISA institution by year, but only one institution receives new purchases per year, existing holdings stay at the old broker in that NISA relationship, and change/abolition documents must be filed on deadline — start well before year-end.
For any given year, only one institution can receive your new NISA purchases, but you may generally change the institution by year. A crucial detail: whether you have already made a NISA purchase in the current year affects when a change can take effect — often a change applies from the following year if you have already bought. Deadlines and forms are institution-specific.
So changing NISA brokers is possible but governed by calendar-year timing and prior-purchase rules. Plan around them rather than assuming you can switch instantly mid-year.
The most important misunderstanding to avoid: your existing NISA holdings normally remain at the old institution in that NISA relationship — they are not transferred into the new institution’s NISA. Changing brokers changes where you make new purchases, not where your old assets live. So after a change you may hold NISA assets at two firms, keeping records for both.
If you want to consolidate, selling old holdings restores their acquisition cost to your lifetime capacity from the following year, but that restored capacity is usable only through the institution authorised for new purchases that year — and selling has market and timing consequences. Do not sell merely to "transfer."
Plan a change carefully. Start well before year-end, because deadlines and documents (change and, where relevant, abolition notices) take time. Stop and record any recurring orders at the old broker. Ask both institutions for the current sequence and required forms. Keep confirmations, and verify the new NISA account is active before placing new orders there.
Do not sell holdings solely to move them without checking tax and market consequences, and remember new purchases cannot be duplicated across institutions in the same year. A little planning prevents a gap in your investing or an accidental duplicate.
Brokerage (NISA/iDeCo) · Rakuten Securities
A leading low-cost brokerage for NISA and index-fund investing, integrated with Rakuten points and Rakuten Bank.
Fees: Many domestic funds and trades are low- or no-commission — verify current fee schedule.
Brokerage (NISA/iDeCo) · SBI Securities
Japan’s largest online brokerage by accounts, with a very broad low-cost fund lineup and full NISA/iDeCo support.
Fees: Many trades and funds are low- or no-commission — verify current fee schedule.
Brokerage (NISA/iDeCo) · Monex
An established online brokerage often chosen for US-stock access and research tools, with NISA and iDeCo support.
Fees: Commissions vary by product; some funds/trades are low-cost — verify current schedule.
Generally yes, if you are a tax resident of Japan (with a My Number) and at least 18. NISA is tied to residency, not citizenship, so most foreign residents qualify — with two big cautions: US citizens and green-card holders face US tax complications with Japanese funds, and NISA generally cannot continue after you leave Japan. Confirm eligibility and the current rules on the FSA site and with your chosen brokerage.