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rhenzhen

Questions for Savings/Checking and Mutual Funds for I-864

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Hello VJs! Maybe someone can answer this. I'm almost ready submitting my I-864. Do I need to ask a letter to my Bank regarding my official balance of my checking/savings? Or just a print out of my bank statement will do? Same question as to my mutual funds. Do I need to ask a letter also or just a print out or statement on my Fidelity Account? Thanks in advance!


05/08/2010: Married
03/18/2011: I-130 Sent
03/21/2011: NOA1 noticed date
05/27/2011: NOA2 noticed date
06/28/2011: NVC finally received our case!
06/30/2011: Case number received!
07/01/2011: Received DS-3032 from NVC
07/04/2011: Wifey e-mailed DS-3032 form to NVC
07/06/2011: Paid AOS bill
07/09/2011: DS-3032 received/processed by NVC
07/11/2011: IV bill received :
07/22/2011: IV bill paid
07/25/2011: AOS/I-864 packet mailed
07/27/2011: AOS/I-864 packet delivered to NVC
08/02/2011: DS-230 packet mailed to NVC
08/03/2011: DS-230 packet delivered to NVC
08/08/2011: Medical Exam Taken
08/09/2011: Medical Results: PASSED! Yehey!

08/10/2011: Case Completed / Sign In Failed

08/12/2011: Interview date assigned : September 19, 8:30am @ USEM... Yay!
09/19/2011: WIFE'S VISA APPROVED!!!
Thank YOU Lord!
09/23/2011: Wife picked up her VISA..
10/24/2011: POE: J.F.K.-NY

ROC

08/26/2013: i-751 mailed

08/28/2013: i-751 received per USPS tracking...

08/29/2013: NOA receipt date

10/04/2013: Biometrics appointment

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Okay. I called NVC and talked to 2 different NVC rep. First person I talked to told me that I need a letter from my Bank and Fidelity for my official balance. So, I called back again and talked to a lady NVC rep told me that I only need a bank statement on both Bank and Fidelity... Now, I'm really confused!!! Which one is really the official? My monthly bank statement or letter? I'm thinking of sending both but they might be more confuse because If my statement didn't match on my remaining balance? I pay bill, direct deposit, recurring payments. Any idea which one should i send? Thanks! -

Edited by rhenzhen

05/08/2010: Married
03/18/2011: I-130 Sent
03/21/2011: NOA1 noticed date
05/27/2011: NOA2 noticed date
06/28/2011: NVC finally received our case!
06/30/2011: Case number received!
07/01/2011: Received DS-3032 from NVC
07/04/2011: Wifey e-mailed DS-3032 form to NVC
07/06/2011: Paid AOS bill
07/09/2011: DS-3032 received/processed by NVC
07/11/2011: IV bill received :
07/22/2011: IV bill paid
07/25/2011: AOS/I-864 packet mailed
07/27/2011: AOS/I-864 packet delivered to NVC
08/02/2011: DS-230 packet mailed to NVC
08/03/2011: DS-230 packet delivered to NVC
08/08/2011: Medical Exam Taken
08/09/2011: Medical Results: PASSED! Yehey!

08/10/2011: Case Completed / Sign In Failed

08/12/2011: Interview date assigned : September 19, 8:30am @ USEM... Yay!
09/19/2011: WIFE'S VISA APPROVED!!!
Thank YOU Lord!
09/23/2011: Wife picked up her VISA..
10/24/2011: POE: J.F.K.-NY

ROC

08/26/2013: i-751 mailed

08/28/2013: i-751 received per USPS tracking...

08/29/2013: NOA receipt date

10/04/2013: Biometrics appointment

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Filed: Citizen (apr) Country: India
Timeline

I am planning on just obtaing a bank statement (bank rep signed) from the branch one day before I plan to send my I-864 (still waiting for NVC case#). I am not using my 401K balance - Are are you referring to Fidelity regarding your 401K or.....


USA

01/08/13 - Approved and GC is order for production on 1/8/14

09/12/13 - Case transferred to CSC. NOA2 received on 09/18/13

08/30/13 - Biometrics Done - No walk ins allowed at this LSC (received on 8/16/13).

08/05/13 - NOA1 (received on 08/10/13)

08/01/13 - Mailed I-751 (received on 8/2/13 - check cashed on 8/5/13)

12/28/11 - Received SSN (applied on 12/20/11, as we didn't get based on DS-230 options)
11/28/11 - Received Green Card (Expires on 10/30/13) - Welcome Letter on 11/17/11
10/30/11 - POE - Houston, TX

Chennai Consulate (40 days)
10/28/11 - Received Visa papers and Passport at VFS
10/25/11 - Interview Cleared Successfully (Spouse was not allowed in)

NVC: (90 days from NOA2 to Consulate)
08/31/11 - Case Completed (Interview 10/25/11) - Received at Chennai on 09/19/11
07/22/11 - NVC Case Number

USCIS: (92 days)

6/21/11 - NOA2 (NOA1 on 3/25/11) - took a month to get to NVC
3/21/11 - I-130 sent to USCIS Lockbox, Chicago.

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I am planning on just obtaing a bank statement (bank rep signed) from the branch one day before I plan to send my I-864 (still waiting for NVC case#). I am not using my 401K balance - Are are you referring to Fidelity regarding your 401K or.....

Yes. I'm refering to my Fidelity 401K. That's part of your assets (under Mutual Funds). I called my bank "Bank of America" and they have 3 different immigration letters... 1 for Standard and 2 for Spouse support, I forgot the number 3. I will order this Friday, same day my June-July statement end. There's a 10 dollars fee to process it. Edited by rhenzhen

05/08/2010: Married
03/18/2011: I-130 Sent
03/21/2011: NOA1 noticed date
05/27/2011: NOA2 noticed date
06/28/2011: NVC finally received our case!
06/30/2011: Case number received!
07/01/2011: Received DS-3032 from NVC
07/04/2011: Wifey e-mailed DS-3032 form to NVC
07/06/2011: Paid AOS bill
07/09/2011: DS-3032 received/processed by NVC
07/11/2011: IV bill received :
07/22/2011: IV bill paid
07/25/2011: AOS/I-864 packet mailed
07/27/2011: AOS/I-864 packet delivered to NVC
08/02/2011: DS-230 packet mailed to NVC
08/03/2011: DS-230 packet delivered to NVC
08/08/2011: Medical Exam Taken
08/09/2011: Medical Results: PASSED! Yehey!

08/10/2011: Case Completed / Sign In Failed

08/12/2011: Interview date assigned : September 19, 8:30am @ USEM... Yay!
09/19/2011: WIFE'S VISA APPROVED!!!
Thank YOU Lord!
09/23/2011: Wife picked up her VISA..
10/24/2011: POE: J.F.K.-NY

ROC

08/26/2013: i-751 mailed

08/28/2013: i-751 received per USPS tracking...

08/29/2013: NOA receipt date

10/04/2013: Biometrics appointment

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Filed: Citizen (apr) Country: India
Timeline

The relevant portion of I-864 instructions regarding part 7: "Use of Assets to Supplement Income" states as follows:

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 requirements.

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.

Hence I am thinking the latest online bank and 401k statements should be good enough, as those are difinitely the evidence of the value of my assets.

Anybody, who did the same and had no issues, please share.


USA

01/08/13 - Approved and GC is order for production on 1/8/14

09/12/13 - Case transferred to CSC. NOA2 received on 09/18/13

08/30/13 - Biometrics Done - No walk ins allowed at this LSC (received on 8/16/13).

08/05/13 - NOA1 (received on 08/10/13)

08/01/13 - Mailed I-751 (received on 8/2/13 - check cashed on 8/5/13)

12/28/11 - Received SSN (applied on 12/20/11, as we didn't get based on DS-230 options)
11/28/11 - Received Green Card (Expires on 10/30/13) - Welcome Letter on 11/17/11
10/30/11 - POE - Houston, TX

Chennai Consulate (40 days)
10/28/11 - Received Visa papers and Passport at VFS
10/25/11 - Interview Cleared Successfully (Spouse was not allowed in)

NVC: (90 days from NOA2 to Consulate)
08/31/11 - Case Completed (Interview 10/25/11) - Received at Chennai on 09/19/11
07/22/11 - NVC Case Number

USCIS: (92 days)

6/21/11 - NOA2 (NOA1 on 3/25/11) - took a month to get to NVC
3/21/11 - I-130 sent to USCIS Lockbox, Chicago.

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Filed: IR-1/CR-1 Visa Country: China
Timeline

for many 401K holders, 'cash assessment' is a fun computation.

Check your agreement with that 401K fund, learn what the 'emergency cash conversion' rate is, if you had to 'cash out today' prior to the retirement age - usually there's the funds' fee, plus any IRS tax hit as well, before you have a pool of cash. IME, 20 to 25 percent was 'about right' for most accounts, some hitting as much as 38 percent as well.

It sucks, IMO, but is is what it is.


Sometimes my language usage seems confusing - please feel free to 'read it twice', just in case !
Ya know, you can find the answer to your question with the advanced search tool, when using a PC? Ditch the handphone, come back later on a PC, and try again.

-=-=-=-=-=R E A D ! ! !=-=-=-=-=-

Whoa Nelly ! Want NVC Info? see http://www.visajourney.com/wiki/index.php/NVC_Process

Congratulations on your approval ! We All Applaud your accomplishment with Most Wonderful Kissies !

 

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Filed: Citizen (apr) Country: India
Timeline

Then what is the rationale for counting only 20% of the Savings bank balance, which is absolutely liquid cash! I am thinking that they just have a common 20% rule for all assets that can be converted into cash within 1 year.

"Only assets that can be converted into cash within 1 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."


USA

01/08/13 - Approved and GC is order for production on 1/8/14

09/12/13 - Case transferred to CSC. NOA2 received on 09/18/13

08/30/13 - Biometrics Done - No walk ins allowed at this LSC (received on 8/16/13).

08/05/13 - NOA1 (received on 08/10/13)

08/01/13 - Mailed I-751 (received on 8/2/13 - check cashed on 8/5/13)

12/28/11 - Received SSN (applied on 12/20/11, as we didn't get based on DS-230 options)
11/28/11 - Received Green Card (Expires on 10/30/13) - Welcome Letter on 11/17/11
10/30/11 - POE - Houston, TX

Chennai Consulate (40 days)
10/28/11 - Received Visa papers and Passport at VFS
10/25/11 - Interview Cleared Successfully (Spouse was not allowed in)

NVC: (90 days from NOA2 to Consulate)
08/31/11 - Case Completed (Interview 10/25/11) - Received at Chennai on 09/19/11
07/22/11 - NVC Case Number

USCIS: (92 days)

6/21/11 - NOA2 (NOA1 on 3/25/11) - took a month to get to NVC
3/21/11 - I-130 sent to USCIS Lockbox, Chicago.

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Filed: IR-1/CR-1 Visa Country: China
Timeline

if the sponser is the uscitizen spouse, cash assets are computed at 1/3 of actual value, not 1/5.

The 1/5 rule does apply in other situations, I'm always muddled by it.

A 401K account is not considered at face value, there are computations to be done to convert it to cash.

Edited by Darnell

Sometimes my language usage seems confusing - please feel free to 'read it twice', just in case !
Ya know, you can find the answer to your question with the advanced search tool, when using a PC? Ditch the handphone, come back later on a PC, and try again.

-=-=-=-=-=R E A D ! ! !=-=-=-=-=-

Whoa Nelly ! Want NVC Info? see http://www.visajourney.com/wiki/index.php/NVC_Process

Congratulations on your approval ! We All Applaud your accomplishment with Most Wonderful Kissies !

 

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Filed: Citizen (apr) Country: India
Timeline

All sponsors have to be either US Citizens or Permnent Residents. Only the US Citizens that are sponsoring their spouses are minor children can compute 1/3 value and all other cases and Permanent Residents can only compute 1/5 value.

Coming to my question, can the Online Savings/ 401K monthly statement be used as evidence or do we need to get a sing copy from bank/ 401K guys.


USA

01/08/13 - Approved and GC is order for production on 1/8/14

09/12/13 - Case transferred to CSC. NOA2 received on 09/18/13

08/30/13 - Biometrics Done - No walk ins allowed at this LSC (received on 8/16/13).

08/05/13 - NOA1 (received on 08/10/13)

08/01/13 - Mailed I-751 (received on 8/2/13 - check cashed on 8/5/13)

12/28/11 - Received SSN (applied on 12/20/11, as we didn't get based on DS-230 options)
11/28/11 - Received Green Card (Expires on 10/30/13) - Welcome Letter on 11/17/11
10/30/11 - POE - Houston, TX

Chennai Consulate (40 days)
10/28/11 - Received Visa papers and Passport at VFS
10/25/11 - Interview Cleared Successfully (Spouse was not allowed in)

NVC: (90 days from NOA2 to Consulate)
08/31/11 - Case Completed (Interview 10/25/11) - Received at Chennai on 09/19/11
07/22/11 - NVC Case Number

USCIS: (92 days)

6/21/11 - NOA2 (NOA1 on 3/25/11) - took a month to get to NVC
3/21/11 - I-130 sent to USCIS Lockbox, Chicago.

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