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JIM AND WENA

no assets but high income

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I am trying to bring my wife and her son here from Philippines. I am applying for CR1 Visa and just starting the process. I am a US citizen. I am confused about asset requirements. My salary is 20k more than 125% of the poverty level for a three person household. I have around 10k in assets and my assets consist of equity in home and mutual fund. I have searched this site for an hour an can't find info. for someone in my situation.

Are assets required if income is over 125% poverty level. If assets are required, do I need more assets to bring my wife here?

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Filed: Citizen (apr) Country: Canada
Timeline

No you don't need assets if you make above the 125% requirement.

You can sponsor solely on income.

Assets are only if you do not make enough income to sponsor them.


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Your I-129f was approved in 5 days from your NOA1 date.

Your interview took 67 days from your I-129F NOA1 date.

AOS was approved in 2 months and 8 days without interview.

ROC was approved in 3 months and 2 days without interview.

I am a Citizen of the United States of America. 04/16/13

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Filed: Country: Philippines
Timeline

My husband didnt include his assets on the the I-864 because his salary was above the 125%. You can read the instructions page of the I-864. He sponsored me and a my daughter on CR2.

Good Luck!

Edited by pixie77

AOS from B1B2

06/14/10 – Mailed I-130, 485,765,824

06/16/10 – Delivered to Chicago Lockbox

06/22/10 – Received texts & email routed to NBC

06/24/10 – Checks cashed for I-130, 485, 765, 824

06/26/10 – NOA1 for I-130, 485,765, 824

07/17/10 – Received hard copy of RFE 485

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08/19/10 – RFE delivered to NBC

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09/24/10 – Called USCIS Biometrics Service Request

10/04/10 – Received Service request letter

10/27/10 – Infopass Appt. for Biometrics

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11/22/10 – Called USCIS Biometrics Service Request

11/23/10 – Wrote & Mail Letter to Congresswoman

12/06/10 – Received Biometrics Letter after 5 months…FINALLY!!!

12/14/10 – Biometrics Done!!

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Filed: K-1 Visa Country: Philippines
Timeline

My situation has something to do with this I dont have Income tax return (ITR) to show on my interview, but we are already at above 100% of puberty level, bcoz of my hubby's high salary, we only have W2 and pay stubs with bank account statements.

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hi..i also need help regarding I-864 :)

So, My husband is preparing the AOS form and documents right now. He's not so confident on giving out his 2008 & 2009 tax transcript because he's a self employed and he just started his business in 2008 that's why he didn't make good money during the first 2 years. Do you think that wouldn't cause an issue if he only send his 2010 tax transcript? he makes around 45k last year in 2010, and he got some cash in his bank account, do you think it's gonna be best if we find a co sponsor? he would like to put his assets on it, but that would be complicated i guess since he's gonna have to include his mortgage info etc..? i don't really understand about this kind of stuff and my husband doesn't either and that would be a great help if you would help us out on this :)

thanks a lot


USCIS

14-02-2011 sent I-130 petition for my case and my son's case

07-07-2011 approved! (139 days)

NVC

03-08-2011 NVC received

03-08-2011 received NVC case # and IIN for my case

25-08-2011 received NVC case # for my son's case

01-09-2011 sent aos packages

07-09-2011 sent IV packages

13-09-2011 1st checklist

17-09-2011 2nd checklist with different request

20-09-2011 sent out the checklist requested

28-09-2011 CC for my case

01-10-2011 Received P4 for interview date on November 22

05-10-2011 CC for my son's case

08-10-2011 received P4 for son's case

Consulate

07-11-2011 Medical

09-11-2011 picked up the result, everything is good, thanks god!

22-11-2011 Visa APPROVED!

28-11-2011 Pick up the visa

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Filed: IR-1/CR-1 Visa Country: China
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assets are optional, usually put in to make up a lack in income.

so, let's say the poverty guidelines (at 125 percent) for 2 people is 20,000 usd (just a nice round number, not the exact # from I-864P)

then the petitioner/sponser has 18,000 in income to show. He's missing 2,000 to hit the mark, so far, yes?

assets are valued at 1/3 of cash value (some 3 year rule, eek) so to make up the 2,000 difference, USCitizen would have to show another 6,000 usd in assets.

for the OP - if yer way past the poverty guidelines, remember - assets are optional.

Timmycell No, not at all. Income and assets are 2 different things. Income usually is reported on an income tax return. High salary without prior year income tax returns usually means he wasn't working prior year(s ), so had no income to show. I-864 evaluation is done at the Embassy IV Unit - they DO look at everything - prior year income, tax returns, and current income. It smells like prior year income is missing, be prepared to explain (in writing) why this is.

icha - Ya, the sad part for being self-employed, is that the IRS allows for many deductions so that the taxable income amount is much less than the actual income/receipts. Good for relieving the tax burden on the petitioner, but bad for showing high numbers above the poverty line for the petitioner. If he has assets to throw in, suggest he throw them in. Taxable income amount is what's being used on the evaluation, not income before schedule C deductions.


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Filed: K-1 Visa Country: Ireland
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Very informative

Thanks

assets are optional, usually put in to make up a lack in income.

so, let's say the poverty guidelines (at 125 percent) for 2 people is 20,000 usd (just a nice round number, not the exact # from I-864P)

then the petitioner/sponser has 18,000 in income to show. He's missing 2,000 to hit the mark, so far, yes?

assets are valued at 1/3 of cash value (some 3 year rule, eek) so to make up the 2,000 difference, USCitizen would have to show another 6,000 usd in assets.

for the OP - if yer way past the poverty guidelines, remember - assets are optional.

Timmycell No, not at all. Income and assets are 2 different things. Income usually is reported on an income tax return. High salary without prior year income tax returns usually means he wasn't working prior year(s ), so had no income to show. I-864 evaluation is done at the Embassy IV Unit - they DO look at everything - prior year income, tax returns, and current income. It smells like prior year income is missing, be prepared to explain (in writing) why this is.

icha - Ya, the sad part for being self-employed, is that the IRS allows for many deductions so that the taxable income amount is much less than the actual income/receipts. Good for relieving the tax burden on the petitioner, but bad for showing high numbers above the poverty line for the petitioner. If he has assets to throw in, suggest he throw them in. Taxable income amount is what's being used on the evaluation, not income before schedule C deductions.


“Nobody can go back and start a new beginning, but anyone can start today and make a new ending.”

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Filed: Country:
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My situation has something to do with this I dont have Income tax return (ITR) to show on my interview, but we are already at above 100% of puberty level, bcoz of my hubby's high salary, we only have W2 and pay stubs with bank account statements.

He's not yet your hubby right as you've indicated that you're applying for a K-1 Visa...

If you are a K-1er then you will need to have copies of either his Tax Returns or his Tax Return Transcripts for the last 3 years and he will need to have a net taxable income that is 125% of the Federal Poverty guideline. If you don't have these then expect to have to get and provide them to the USEM before Visa issuance.

If you are already married and therefore a CR/IR-1er then he will have already provided the Tax documentation to the NVC as part of his Affidavit of Support package.

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assets are optional, usually put in to make up a lack in income.

so, let's say the poverty guidelines (at 125 percent) for 2 people is 20,000 usd (just a nice round number, not the exact # from I-864P)

then the petitioner/sponser has 18,000 in income to show. He's missing 2,000 to hit the mark, so far, yes?

assets are valued at 1/3 of cash value (some 3 year rule, eek) so to make up the 2,000 difference, USCitizen would have to show another 6,000 usd in assets.

for the OP - if yer way past the poverty guidelines, remember - assets are optional.

Timmycell No, not at all. Income and assets are 2 different things. Income usually is reported on an income tax return. High salary without prior year income tax returns usually means he wasn't working prior year(s ), so had no income to show. I-864 evaluation is done at the Embassy IV Unit - they DO look at everything - prior year income, tax returns, and current income. It smells like prior year income is missing, be prepared to explain (in writing) why this is.

icha - Ya, the sad part for being self-employed, is that the IRS allows for many deductions so that the taxable income amount is much less than the actual income/receipts. Good for relieving the tax burden on the petitioner, but bad for showing high numbers above the poverty line for the petitioner. If he has assets to throw in, suggest he throw them in. Taxable income amount is what's being used on the evaluation, not income before schedule C deductions.

Thank you very much Darnell for the reply, yes, indeed, it's very clear and informative :)

So, if i may understand this, it means that he still need to include his 2008 & 2009 tax transcripts eventhough he didn't make good money during those 2 years + assets correct? he got not bad assets actually, so no need his dad co sponsor..?

Thank you


USCIS

14-02-2011 sent I-130 petition for my case and my son's case

07-07-2011 approved! (139 days)

NVC

03-08-2011 NVC received

03-08-2011 received NVC case # and IIN for my case

25-08-2011 received NVC case # for my son's case

01-09-2011 sent aos packages

07-09-2011 sent IV packages

13-09-2011 1st checklist

17-09-2011 2nd checklist with different request

20-09-2011 sent out the checklist requested

28-09-2011 CC for my case

01-10-2011 Received P4 for interview date on November 22

05-10-2011 CC for my son's case

08-10-2011 received P4 for son's case

Consulate

07-11-2011 Medical

09-11-2011 picked up the result, everything is good, thanks god!

22-11-2011 Visa APPROVED!

28-11-2011 Pick up the visa

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and 1 more thing, does he also need to include his recent/3 years federal tax return in the packages?

Thank you :)

Edited by Icha

USCIS

14-02-2011 sent I-130 petition for my case and my son's case

07-07-2011 approved! (139 days)

NVC

03-08-2011 NVC received

03-08-2011 received NVC case # and IIN for my case

25-08-2011 received NVC case # for my son's case

01-09-2011 sent aos packages

07-09-2011 sent IV packages

13-09-2011 1st checklist

17-09-2011 2nd checklist with different request

20-09-2011 sent out the checklist requested

28-09-2011 CC for my case

01-10-2011 Received P4 for interview date on November 22

05-10-2011 CC for my son's case

08-10-2011 received P4 for son's case

Consulate

07-11-2011 Medical

09-11-2011 picked up the result, everything is good, thanks god!

22-11-2011 Visa APPROVED!

28-11-2011 Pick up the visa

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Filed: Other Country: China
Timeline

Hello does assets means Income tax return?

please response any one knows it?

No it does not. Please take no offense but if your English skills are that poor, you really should get help filling out government forms.


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