Jump to content
Sign in to follow this  
tony'sgirl

How much in assets?

8 posts in this topic

Recommended Posts

How much in assets do I need to have if I don't have anyone who will co-sponsor for us and if my income is below the guidelines? I don't see any specific dollar amount anywhere, just that I have to be able to support my fiance when he gets here....

Share this post


Link to post
Share on other sites

Here are the pertinent sections of the I-864 affidavit of support instructions:

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included.

In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current poverty guidelines for your household size.
However, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference.

In other words, any assets used to make up the difference between your income and the poverty guidelines will only be counted at 1/3 of their value.

At the visa interview, the State Department does not establish any hard-and-fast rule. The applicant (your fiance) must demonstrate to the consular officer's satisfaction that he will not become a public charge once in the United States. Thus, your mileage may vary based on the consulate. That said, they will often apply a similar or identical standard to that used to adjudicate the I-864.

Your best bet at the K-1 stage is to do some research on the particular embassy/consulate where your fiance will interview: find out how they handle the support/sponsorship requirements. But you'll also want to keep in mind the I-864 rules, because they come up again when it's time to adjust status (apply for the green card) after you get married.

Edited by Stephen + Elisha

Improved USCIS Form G-325A (Biographic Information)

Form field input font changed to allow entry of dates in the specified format and to provide more space for addresses and employment history. This is the 6/12/09 version of the form; the current version is 8/8/11, but previous versions are accepted per the USCIS forms page.

Share this post


Link to post
Share on other sites

Ok, great! So another question is this... My "income" consists of child support and alimony. I do not have tax records for the past 3 yrs for this reason. Will this be a problem? Also, is the child support considered income? And are my 2 minor boys considered my dependents or my ex husbands dependents. I have full custody but he sees them every other weekend and pays child support? And do I count my fiance as my dependent while figuring out if my income is sufficient? So sorry for so many questions!! Thanks so much!

Share this post


Link to post
Share on other sites

Ok, great! So another question is this... My "income" consists of child support and alimony. I do not have tax records for the past 3 yrs for this reason. Will this be a problem? Also, is the child support considered income? And are my 2 minor boys considered my dependents or my ex husbands dependents. I have full custody but he sees them every other weekend and pays child support? And do I count my fiance as my dependent while figuring out if my income is sufficient? So sorry for so many questions!! Thanks so much!

Child Support is considered Income is you have records of continous Support by Bank Records, Payments, etc. If the Children reside with you over 50% of the time and you have Custody they are Considered YOUR DEPENDANTS. If petitioning then you will need to add another dependant. So the Household is 4..... (Finance) Alimony is also considered Income if steady and proof. No Tax returns will hurt. Meaning: Not working.

Are you on Goverment Assistance. (Food Stamps/Medical ?)

You have to determine what you Annual Income is. Someone can answer the requirements for a Family of 4 but I'm going to ASSUME about $28.000.00 per year. Thats hard to CUT.


TIM/MAV K1-JOURNEY
3/27/2007....We first met on myspace
1/30/10 ......My Honey proposed
8/15/10 ......He visit Philippines(2wks) & met my family
12/17/10 ....USCIS received the Filed I-129F for K1-visa
12/21/10 ....Received hard copy,NOA1
5/25/11.......Received RFE
6/09/11.......NOA2 approved
12/07/11.....Visa fee paid at BPI

6/11/13.......2nd visa fee payment
7/10-11/13.. Medical Exam completed@St.Lukes Clinic
1/15-16/14.. 2nd Medical exam updated
1/21/14...... k1 interview-Visa Approved
.....................................................................
8/29/14...... Submitted AOS application
10/03/14.....Biometrics
01/07/15.....Received my EAD card

01/31/15..... I got my SSN from the mail

04/20/15......AOS Interview - Approved :star:

4/24/15 .......Got the Driving Permit Card

4/30/15 .......Green Card Received :) (Exp.4/20/17)

http://youtu.be/BVf45EcdFwQ

Share this post


Link to post
Share on other sites

Ok, great! So another question is this... My "income" consists of child support and alimony. I do not have tax records for the past 3 yrs for this reason. Will this be a problem? Also, is the child support considered income? And are my 2 minor boys considered my dependents or my ex husbands dependents. I have full custody but he sees them every other weekend and pays child support? And do I count my fiance as my dependent while figuring out if my income is sufficient? So sorry for so many questions!! Thanks so much!

Your household size would be you, your 2 children and your fiance. That is a total of 4, and you would need to have $27,937 to reach 125% of the poverty level. http://www.uscis.gov/files/form/i-864p.pdf

The alimony and child support count as income. You will just need to prove you receive them with a court order and show bank statements that prove the money is deposited to your account each month. For assets, you need 3x the amount you fall short. For example, if you make $20k but you need $28k, then you need 3x the $8k you are short, or $24k in assets.

Read through the I-864 instructions that tell about determining household size and what you need for assets: http://www.uscis.gov/files/form/i-864instr.pdf


Link to K-1 instructions for Ciudad Juarez, Mexico > http://travel.state.gov/content/dam/visas/K1/CDJ%20-%20Ciudad%20Juarez.pdf

Share this post


Link to post
Share on other sites

Here are the pertinent sections of the I-864 affidavit of support instructions:

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included.

In order to qualify based on the value of your assets, the total value of your assets must equal at least five times the difference between your total household income and the current poverty guidelines for your household size.
However, if you are a U.S. citizen and you are sponsoring your spouse or minor child, the total value of your assets must only be equal to at least three times the difference.

In other words, any assets used to make up the difference between your income and the poverty guidelines will only be counted at 1/3 of their value.

At the visa interview, the State Department does not establish any hard-and-fast rule. The applicant (your fiance) must demonstrate to the consular officer's satisfaction that he will not become a public charge once in the United States. Thus, your mileage may vary based on the consulate. That said, they will often apply a similar or identical standard to that used to adjudicate the I-864.

Your best bet at the K-1 stage is to do some research on the particular embassy/consulate where your fiance will interview: find out how they handle the support/sponsorship requirements. But you'll also want to keep in mind the I-864 rules, because they come up again when it's time to adjust status (apply for the green card) after you get married.

That is not quite right "five times" or "three times" is multiply, 1/3 is dividing, and the wording is very clear... TIMES... mulitply.

Example: If there is a shortage of $5,000/year between income and requirement they would need $25,000 by the 5 times rule or $15,000 by the 3 times rule.


Hank

"Chance Favors The Prepared Mind"

 

      HandArrow.gif.adeb854ba620933849ae921ca0b44a0c.gif  Link to the Visa Process for Manila Embassy once you have your NOA2 : Click Here

 

Contact Hank: HERE

K-1 visa approved 21 March 2012

...Citizenship... complete!

 

 

 

 

Share this post


Link to post
Share on other sites

Hank_Amy, we're saying the same thing. If you need five or three times the difference between the poverty guideline and income, that means that assets are only counted at 1/5 or 1/3 their total value toward the poverty guideline. In your example, $15,000 in assets is required to make up a shortage of $5,000 in current income. 15,000 / 3 = 5,000.

Edited by Stephen + Elisha

Improved USCIS Form G-325A (Biographic Information)

Form field input font changed to allow entry of dates in the specified format and to provide more space for addresses and employment history. This is the 6/12/09 version of the form; the current version is 8/8/11, but previous versions are accepted per the USCIS forms page.

Share this post


Link to post
Share on other sites
 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  
- Back to Top -


Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×