K1 - I134a Question

[ddss2k 0]

Hi everyone,

Currently I am unemployed. On question 7 of the I134, should I put last year income or leave it blank on the first line? am I allow to use the unemployment benefit as an income for the first line?

Is my 401k consider an asset?

Thank you,

and if need a co-sponser for K-1, what form do i need to use?

thank you

[YuAndDan 153]

401K can be counted as an asset, however the consulate can take into account early withdrawl penilties (Typically 30%), and after that an asset is worth 1/3 income.

Co-sponsor uses the same form I-134.

Some consulates do not accept co-sponsors, not sure Vietnam is one of them.

[JimVaPhuong 4,863]

Hi everyone,

Currently I am unemployed. On question 7 of the I134, should I put last year income or leave it blank on the first line? am I allow to use the unemployment benefit as an income for the first line?

Is my 401k consider an asset?

Thank you,

and if need a co-sponser for K-1, what form do i need to use?

thank you

In a word, you're screwed.

First, there is no "I-134a". There is only the I-134.

On the first line you enter your CURRENT annualized income, meaning what you get per pay period multiplied by the number of pay periods per year.

Unemployment compensation is qualifying income, and the consulate is likely to completely ignore it because it will end long before the binding affidavit of support ends.

A 401K may be considered an asset, and again - the consulate is free to ignore it. The general rule for assets is taken from the I-864, which says that the asset must be something you can convert to cash within a year without undue hardship or financial loss. Cashing out a 401K involves substantial taxes and penalties.

Forget a joint sponsor. The consulate in HCMC rarely accepts them for K visas.

You basically have two options if you want to have any hope of your fiancee getting a visa. Option 1: Find a good job before the interview so that you can qualify as a sponsor on your own. Option 2: Get married and file a CR1, which uses the I-864 affidavit of support and permits joint sponsors.

[Kevin and 10]

VN does not allow co-sponsors for K-1.

[ddss2k 0]

Thanks everyone

I am applying for jobs everywhere and hopefully will get the job soon. I have about 60,000 in asset and 30% on 165,000 house, I think it will be enough to sponsor my fiancee but I want to find everything that i could put on the form to assure the case.

[ddss2k 0]

would we get a deny if I could find a job before the interview or would they put the process on hold until i found a job?

Thanks

[JimVaPhuong 4,863]

would we get a deny if I could find a job before the interview or would they put the process on hold until i found a job?

Thanks

Qualifying on assets alone is possible, but they prefer to see income. If they decide not to accept your affidavit of support as sufficient then they'll simply deny the visa. They don't put things on "hold".

When you declare assets then you must prove you own them, and prove their current value. To declare the equity in your home you'll need the deed, a recent appraisal from a licensed appraiser, and statements from any lien holders (e.g., mortgage lenders). I honestly don't know how a CO will view home equity when you don't have income. Normally, they'd assume you could cash out the equity with a HELOC loan, but I doubt you could get a HELOC without any current income.

What kind of assets are included in that $60K?

[ddss2k 0]

Qualifying on assets alone is possible, but they prefer to see income. If they decide not to accept your affidavit of support as sufficient then they'll simply deny the visa. They don't put things on "hold".

When you declare assets then you must prove you own them, and prove their current value. To declare the equity in your home you'll need the deed, a recent appraisal from a licensed appraiser, and statements from any lien holders (e.g., mortgage lenders). I honestly don't know how a CO will view home equity when you don't have income. Normally, they'd assume you could cash out the equity with a HELOC loan, but I doubt you could get a HELOC without any current income.

What kind of assets are included in that $60K?

$60K in stocks and mutual fund. Yes, I can provide proofs for the assets and home equity.

I plan to have my former company to state the time I worked at the company, how much I made annually, and why I got laid off. I also have 3 years tax transcripts, and check stubs(last check stub in Feb 28). Would these help if i still don't have a job by the interview time?

In the meanwhile still search for job before package 4 arrive.

thanks

[JimVaPhuong 4,863]

$60K in stocks and mutual fund. Yes, I can provide proofs for the assets and home equity.

I plan to have my former company to state the time I worked at the company, how much I made annually, and why I got laid off. I also have 3 years tax transcripts, and check stubs(last check stub in Feb 28). Would these help if i still don't have a job by the interview time?

In the meanwhile still search for job before package 4 arrive.

thanks

Don't bother with the letter from your former employer. They don't care how much you made before, or why you were laid off. They care how much you make now, and how much you're likely to make in the future. Past income only becomes relevant if it helps prove future earning potential.

About all you can do at this point is try to find a job. If that doesn't pan out then try to make it on assets alone.

[ddss2k 0]

$60K in stocks and mutual fund. Yes, I can provide proofs for the assets and home equity.

I plan to have my former company to state the time I worked at the company, how much I made annually, and why I got laid off. I also have 3 years tax transcripts, and check stubs(last check stub in Feb 28). Would these help if i still don't have a job by the interview time?

In the meanwhile still search for job before package 4 arrive.

thanks

Thank you for your advices.

[Dau Que 6]

OP, you're not like another user in this forum, in which he claims he's a student and his "cash" job could support him just fine yet can't be documented for his petition.

In this economy, things happen. When it comes to push and shove, work temporarily at Mcdonald's, Target, Wal-Mart, whatever, til her interview date. Just do it. Once she's got the Visa, your job search will resume with your preference.