Rakuten Securities
楽天証券Brokerage (NISA/iDeCo) · Rakuten Securities
- Fees
- Varies
- English
- Partial
A leading low-cost brokerage for NISA and index-fund investing, integrated with Rakuten points and Rakuten Bank.
Old NISA vs current NISA
How pre-2024 General, Tsumitate, and Junior NISA legacy assets are treated, and why they cannot roll into the current system.
Direct answers
Legacy NISA holdings keep their own tax-free periods and sit outside the ¥18m limit; they cannot be rolled into the current system, so when a legacy period ends you generally sell or let the holding move to a taxable account.
Key points
- General NISA, Tsumitate NISA, and Junior NISA are pre-2024 systems with their own tax-free periods.
- Legacy assets sit outside the ¥18m current-NISA lifetime limit.
- Legacy holdings cannot be rolled directly into the 2024 system.
- When a legacy tax-free period ends, you generally sell or the holding moves to a taxable account.
- Selling and repurchasing in current NISA is a new acquisition using current allowance.
The legacy systems
Before the 2024 renewal, three separate systems existed: General NISA, Tsumitate NISA, and Junior NISA. Holdings acquired under them remain governed by their original legacy tax-free periods and sit entirely outside the current ¥18m lifetime limit. In other words, a legacy holding does not reduce your current-NISA lifetime room, and your current-NISA contributions do not affect the legacy holding.
This separation means many people hold both: legacy assets running out their original tax-free windows, and current NISA being funded fresh under the 2024 rules.
No rollover into current NISA
Legacy assets cannot be rolled directly into the 2024 system — there is no bridge that moves a General or Tsumitate NISA holding into current-NISA lifetime capacity while preserving its status. When a legacy tax-free period ends, the investor generally must sell the holding or let it move to a taxable account under the applicable rules, after which future gains are taxable.
If you want the same exposure inside current NISA, you would sell (or let the legacy period lapse) and make a new qualifying purchase in current NISA. That repurchase is a brand-new acquisition that uses current annual and lifetime allowance.
Planning and recordkeeping
Because selling and repurchasing resets your entry price and uses current allowance, it also introduces market-timing and transaction-cost risk — you might sell and rebuy at a worse price, and you consume current-NISA room you could have used for new money. There is no universally right answer; it depends on the legacy period’s end date, your current allowance headroom, and your view of the holding.
Keep clear records of each legacy holding’s system, acquisition details, and tax-free end date, separate from your current NISA. Do not assume a broker statement will forever distinguish them for you, especially if you change institutions.
Who this is for
- People holding pre-2024 NISA assets
- Investors deciding whether to sell legacy holdings
What this is not
- New investors with only current NISA
- Readers wanting timing advice
Important cautions
- Do not sell legacy holdings on autopilot; weigh the tax-free end date, market price, and current-allowance cost first.
Related products & services
SBI Securities
SBI証券Brokerage (NISA/iDeCo) · SBI Securities
- Fees
- Varies
- English
- Partial
Japan’s largest online brokerage by accounts, with a very broad low-cost fund lineup and full NISA/iDeCo support.
Monex Securities
マネックス証券Brokerage (NISA/iDeCo) · Monex
- Fees
- Varies
- English
- Partial
An established online brokerage often chosen for US-stock access and research tools, with NISA and iDeCo support.
Frequently asked questions
Can foreign residents open a NISA account in Japan?
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.