# Bank requirements



## solograndpa (Feb 2, 2018)

One of the requirements for an "O" Visa is to have 800000baht in a Thai bank.
My question is... Does it have to be a cash deposit? Any way of transfering my 401k or IRA into the bank and still let that build.
Or at least, somehow avoid the 10 or 12% tax on cashing it out. I will not rely on my 401k for living on and would "let it ride".


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## dancebert (Jun 4, 2015)

800k cash. Been here 8 years, never heard of anyone transferring any sort of market investments into Thailand. Besides, you can't let the 800k just sit there. Immigration wants to see that you're living off it, that is, drawing it down over the year. Otherwise they suspect you of working without a visa.

You probably know about the 65k a month income option. To "prove" you have that requires signing a letter at the US Embassy in Bangkok. They don't ask for any proof of the income. Nor does Thai immigration. People have claimed on thaivisa dot com that Thai Immigration asked for proof. However, the site is known for fake posts about how life for expats just changed because of a government action. Such posts attract scores of concerned responses before people realize that no one has corroborated the first post.


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## Thai Bigfoot (Aug 29, 2009)

dancebert is correct about the Embassy verification.
The Embassy has OutReach program where the go to major areas of Thailand to do paperwork, including passport work and the Income Verification. The chare for the verification runs around B1,900. It makes life much easier since I never have to travel from Phuket to Bangkok.


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## eastwind (Jun 18, 2016)

If you use the 65K Baht in income letter, make sure you understand the legal ramifications of what you are signing. I'm not sure what they are - are you signing an affidavit? Are you effectively in the US when you sign it because you're inside the embassy? Could you be charged with perjury under US law if you are lying? 

Even if so, it's not clear any US law enforcement agency would find out or care enough to charge you, but still...


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## dancebert (Jun 4, 2015)

The consequences of signing a false statement are explained on the form. Signing verifies you're aware of them.


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## BTempleman (Mar 28, 2016)

*Annual Income Affidavit*



dancebert said:


> 800k cash. Been here 8 years, never heard of anyone transferring any sort of market investments into Thailand. Besides, you can't let the 800k just sit there. Immigration wants to see that you're living off it, that is, drawing it down over the year. Otherwise they suspect you of working without a visa.
> 
> You probably know about the 65k a month income option. To "prove" you have that requires signing a letter at the US Embassy in Bangkok. They don't ask for any proof of the income. Nor does Thai immigration. People have claimed on thaivisa dot com that Thai Immigration asked for proof. However, the site is known for fake posts about how life for expats just changed because of a government action. Such posts attract scores of concerned responses before people realize that no one has corroborated the first post.


The income affidavit is no longer available from the US Embassy after 31 December 2018. Local immigration offices are still awaiting guidance from the central agency as to the monthly deposit option. At this time, having 800k THB in a Thai bank for 3 months prior to requesting a retirement visa extension is the best way to avoid issues at your local immigration office.


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## Omegaman477 (Jan 9, 2019)

This aspect of Thai Immigration Law is changing radically. Generally conditions are tightening, in an attempt to curb the sea of penniless homeless farang in Thailand. Guys, Cambodia is much cheaper ;-)


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