itonewbie
Level 15

@imantax wrote:

the W-2 has been translated. 


You can't rely on the Gensen to determine the amount to report for US tax purposes because the two jurisdictions have different tax rules.  Instead, you need to review each item of compensation and benefit, whether or not it is subject to Japan tax in part or in full, to assess the proper US tax treatment.  And that includes any NQDC that needs to be tracked and managed to mitigate §409A exposure.

You may also have to grapple with foreign pension that are nonqualified under US tax law, which could then also give rise to foreign trust issues, PFIC's, etc.

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Still an AllStar