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Showing results for tags 'Assets'.
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So we've got the interview coming up in just over a week and I probably shouldn't have put this off as long, but wanted the bank statement to seem as representational as possible. I'm the sole sponsor for my wife, using a combination of continuing income and assets. Together, it's a couple of thousand over so should be ok, but nearly all of those assets are in a Chinese bank account, for which I have about 40 pages of bank statements in Chinese going back 12 months (i just went and grabbed them today). Needless to say, it's a lot to translate and there's a lot of ridiculously long numbers for transaction numbers and references. Now I've seen a lot of conflicting information floating around about proving assets in a bank account and I'm just wondering if we need the 12 months of statements, or if we can get a letter from the Bank here in China saying how much we have, etc, and just translate that. I believe that the bank will freeze the assets until an agreed upon date and they write that in the letter, so it's not all going to be fluttered away before we head to the US (at least that's how it worked when we applied for a UK Visa). Anyone else have any experience with this? Searched the forums and nothing came up. Thanks in advance!
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Hi, I am semi-retired, did not file any 1040 for the last 3 years, but I have more than 200K in my US bank account, can I simply use the bank statements to meet the I-134 requirement? Or do I have to find a co-sponsor? Thanks! -
Hi all, Because I have a period of unemployment and lack a solid income history, I'm going to list my bank account and stock assets on the I-134, but I'm confused on two things and would appreciate the help. 1) Question 7 says "I have on deposit in savings banks in the United States:___" Is my checking account a "deposit in a savings bank?" Or does it really have to be in a savings account as opposed to checking? 2) Assuming that yes, a checking account is the same as a deposit in a savings bank, does that mean I need to make sure that the number I put here should match the signed statement from my bank? Thank you in advance. I did my best to find these answers elsewhere but it seems whenever someone asks questions along these lines, they are informed about exceeding the poverty level and then no one answers. :-) -
We are DCF, and therefore my Chinese income for past 3 years (even though it does just barely qualify in USD at the 125% poverty threshold) won't matter. I understand what's important is showing how I can support my spouse in the USA. My question is what is the golden number to hit for the value of my assets? EXCERPT from I-864 instructions: Part 7. Use of Assets to Supplement Income (Optional) Only complete Part 7. if you need to use the value of assets to meet the income requirements. If your Current Annual Household Income (indicated on Part 6., Item Number 15.) is equal to or more than needed to meet the income requirement as shown by the current Federal Poverty Guidelines (Form I-864P) for your household size (indicated on Part 5., Item Number 8.), you do not need to complete this Part. If your total household income does not meet the requirement, you may submit evidence of the value of your assets, the sponsored immigrant’s assets, and/or assets of a household member that can be used, if necessary, for the support of the intending immigrant(s). The value of assets of all of these persons may be combined in order to meet the necessary requirement. Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis for the owner’s claim of its net cash value. You may include the net value of your home as an asset. The net value of the home is the appraised value of the home, minus the sum of any and all loans secured by a mortgage, trust deed, or other lien on the home. If you wish to include the net value of your home, then you must include documentation demonstrating that you own it, a recent appraisal by a licensed appraiser, and evidence of the amount of any and all loans secured by a mortgage, trust deed, or other lien on the home. You may not include the net value of an automobile unless you show that you have more than one automobile, and at least one automobile is not included as an asset. Item Numbers 1. - 4. Assets. To use your own assets, you must complete Part 7., Item Numbers 1. - 4. and submit corresponding evidence with this affidavit. Supporting evidence must be attached to establish location, ownership, date of acquisition, and value of any real estate holding. ### My spouse and I jointly purchased two rental properties in 2014 and 2015. Both generate some rental income. They are townhouses, and 90% paid off in cash already. Still, I'm not sure if the appraised value of our real estate will be high enough? That's why I was wondering what the golden number is to hit for asset value... (Additionally, I don't have employment lined up yet, so I'm unable to show proof of that point. The only proof of future income is from our rental properties, but the net income falls short of the 125% threshold.) (And, we really don't want to obligate a joint sponsor to sign a 10-year contract for us.) -
Dear Mams and Sirs, My specific situation is this.... I earn a foreign earned Chinese income and can't count it (not enough to meet the 125% requirement anyway), and can't get a joint sponsor. However, my wife has deposited money into a U.S. bank account, in her name, the last time we traveled to the U.S. on a travel visa. Part of this money was provided by her father. The money is in her name only and surpasses the 125% X3 requirement for using assets. She is the beneficiary. I am aware that we are required to include deposits, bank statements, a letter signed by a senior bank official and proof that money can be moved and anything else that shows the movement of money for the previous 12 months if we report money still in China. 1. But I wonder if this proof is required of the beneficiary if the money is already in the U.S.? 2. And the other concern is the fact that a large portion of the money was provided by her father. Again this money is in a U.S. bank account. Will this be an issue? 3. One more dimension to this question.... Since we are totally using assets, more specifically money, to meet financial requirements and no personal or sponsor's income, are we going to run into problems? I know these are crazy questions. Thanks to anyone for help!!!
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Hi, I'm about to apply for my wife's green card later this month and the one sticking point in our application is my ability to support her financially. While my income is low (I was a student up until this point), I do have some liquid assets that barely push me over the $55K USD barrier. A few questions: 1) I've sold all of my stock and am combining all of my funds into one bank account. From here, I will get an official bank statement showing my assets. Does this sound like a sound idea? 2) Would retirement plans also be considered liquid assets for the asset test? If so, this would give me some additional leverage. 3) Can I point out my pre-China salary as a benchmark for what I anticipate I will receive once I return to the USA to add an extra layer of safety? This was well over the $18K wage limit and, I assume should help with my argument of being able to support my wife. Thanks
