JP 2028 NISA
JP 2028 NISA: ¥3.6M/year (¥3M growth funds + ¥0.6M tsumitate accumulation), lifetime cap ¥18M. Tax-free dividends + capital gains. Permanent since 2024 reform.
| Growth account | — |
| Tsumitate account | — |
| This year total | — |
| Allowed (capped) | — |
Japan 2028 NISA (Nippon Individual Savings Account) reformed January 2024 to be permanent, larger, and more flexible. Annual: ¥3M growth account + ¥0.6M tsumitate accumulation = ¥3.6M max. Lifetime cap: ¥18M. Withdrawals free up lifetime allowance for next year's reuse. Dividends + capital gains tax-free vs 20.315% outside NISA.
2024 Permanent Reform
Old NISA: 5-year limit, complicated rollover. New 2024 NISA: permanent, lifetime cap, withdrawal restores allowance. Major upgrade. All Japanese adults should max NISA before non-tax-advantaged investing.
Growth + Tsumitate Mix
Growth account: individual stocks, ETFs, REITs — up to ¥3M/year. Tsumitate: monthly accumulation in approved low-cost mutual funds only — up to ¥0.6M/year. Different fund universes, can use both simultaneously.
vs iDeCo
iDeCo (Japanese 401k): tax-deductible contribution + tax-deferred growth + taxable withdrawal at retirement, locked until age 60. NISA: post-tax in, tax-free out, withdraw anytime. iDeCo better for high earners (deduction), NISA better for flexibility.
Last updated May 2026. Sources: FSA Japan.