Bank Statements for K1?

[Nicky. 0]

At what point do I need to show bank statements? I am a contractor and I am concerned that if I don't have much money in my bank, they would decline the application. Are they looking for something on the statements?

From reading online, I saw that sometimes a letter from your bank explaining previous year's deposit and current income would be good enough. Can anyone confirm what they did regarding bank statements?

[Bjorn&lyne 20]

From what I understand, you might never have to show bank statements, but any financial support evidence appears to be needed at the time of interview at the embassy, if ever. Many people interviewing never ever show bank statements, but paystubs and tax returns seems to be what they ask for if they ask. I suppose they could ask for bank statements to verify that what you put on the affidavit of support form is correct.

[sma1488 155]

It varies from one consulate to the next, but generally speaking, self-employed petitioners (such as yourself, as a contractor) are asked for bank statements more often than employees. Look at the website for the consulate your fiancee will be interviewing at to make sure.

[Nicky. 0]

What are they looking for on my bank statements? When I cash my check, I get the money in cash and I normally pay around $300 dollars into my bank account and keep the rest in cash for food, gas, just general shopping. Now I am worried that if I show them my bank statements, they will only see the $300 dollars I deposit into my bank each week and become suspicious. Is that likely?

[Bjorn&lyne 20]

That's why you need to save the paystubs, then submit copies of those as evidence of your salary.

[Nicky. 0]

That's why you need to save the paystubs, then submit copies of those as evidence of your salary.

Thank you. As I am a contractor, I don't get pay stubs. I just get checks from the lady who gives me the work. Would that be okay as proof?

[Bjorn&lyne 20]

I really do not know, but if that is all you get then that is all you have. Just make sure you keep then and make copies. Another suggestion is that you begin depositing the ENTIRE pay each time, then withdraw from your bank account. That way you can prove that you make regular deposits into a bank account, the very same amount reflecting the amount of the checks you receive. The more you can track stuff like that the better since it will be evidence in case you need it. That way you also create an electronic record, which is MUCH better than what a cash economy is for the sake of evidence.

[Sirliner 26]

What are they looking for on my bank statements? When I cash my check, I get the money in cash and I normally pay around $300 dollars into my bank account and keep the rest in cash for food, gas, just general shopping. Now I am worried that if I show them my bank statements, they will only see the $300 dollars I deposit into my bank each week and become suspicious. Is that likely?

They would be looking at the total amount of deposits per monthly statement, as an indication of income. If you cash your check at your bank, then shouldn't be a problem. Because the bank would process it as a deposit first, then cash withdrawal second. If you cash your check somewhere else, then it could be a reason to worry. Not because they would be "suspicious", but simply because your bank statement wouldn't necessarily be proof of enough income.

[KayDeeCee 4,891]

Self-employed can use their tax transcripts as proof of income and meeting the requirement. As long as line 22 of your 1040 meets the requirement for your household size, then you should be good to go. You can provide the last 3 years of transcripts to show stable, ongoing income, if that would help your case.

Do you have check stubs, or can you provide copies of your cashed pay checks? Those could work too, but are not absolutely necessary. Bank statements are not required either.

[Nicky. 0]

Self-employed can use their tax transcripts as proof of income and meeting the requirement. As long as line 22 of your 1040 meets the requirement for your household size, then you should be good to go. You can provide the last 3 years of transcripts to show stable, ongoing income, if that would help your case.

Do you have check stubs, or can you provide copies of your cashed pay checks? Those could work too, but are not absolutely necessary. Bank statements are not required either.

I have copy of the checks I have received and cashed. I will use those as proof. Should I get bank statements to my fiance in London for her interview or is this not needed?

[KayDeeCee 4,891]

For London, it is most likely not needed. They are pretty lenient. Just use your most recent tax transcript and check copies to prove your income. You could also include a copy of your contract, if it helps to show your income amount.

[Nicky. 0]

For London, it is most likely not needed. They are pretty lenient. Just use your most recent tax transcript and check copies to prove your income. You could also include a copy of your contract, if it helps to show your income amount.

I am self employed so do not have a contract. I only have one tax return to provide as I was previously unemployed but will be writing a statement explaining that.

I am pretty new to taxes etc. Can you explain to me what a tax transcript is? I'm gathering it is different from my tax return?

[AmerFila 10]

I had to do some arm twisting to get my bank to write a letter for me stating my total deposits for the previous 12 month,s current amount in the bank and date account was opened but i got it. i also made copies of W2's and last two months of paystubs as well. I will make copies of my current W2's when i get them. I hope this will be sufficient.

[Jim Smith 0]

Hello,

Bank statement is important in order to know whether you are having a sufficient amount to stay there and can come back without having any finacial problem.

[VOL 425]

They would be looking at the total amount of deposits per monthly statement, as an indication of income. If you cash your check at your bank, then shouldn't be a problem. Because the bank would process it as a deposit first, then cash withdrawal second. If you cash your check somewhere else, then it could be a reason to worry. Not because they would be "suspicious", but simply because your bank statement wouldn't necessarily be proof of enough income.

Incorrect.

Banks don't always deposit first check first if it is submitted for cash payment

I had to do some arm twisting to get my bank to write a letter for me stating my total deposits for the previous 12 month,s current amount in the bank and date account was opened but i got it. i also made copies of W2's and last two months of paystubs as well. I will make copies of my current W2's when i get them. I hope this will be sufficient.

You don't need letter from bank, Waste of time.

I would bring a couple of the last month bank statements, but I doubt they would ask for that also..

Self-employed can use their tax transcripts as proof of income and meeting the requirement. As long as line 22 of your 1040 meets the requirement for your household size, then you should be good to go. You can provide the last 3 years of transcripts to show stable, ongoing income, if that would help your case.

Do you have check stubs, or can you provide copies of your cashed pay checks? Those could work too, but are not absolutely necessary. Bank statements are not required either.

Agreed......