i-134 Affidavit of Support with low income but enough assets

[Toffs 3]

I've recently received my NOA2 and I am currently preparing the I-134 Affidavit of Support and trying to figure out if I need a co-sponsor. I make well over the minimum income requirements however my income comes from 2 sources:

 

1. Salaried from foreign employer. This is excluded under FEIE so it's essentially 0 for tax purposes. Additionally it will not continue next year when I move back to the states. 

2. Self employment income of around 8k USD a year

 

Since my foreign income is 0 under FEIE and I cannot prove it will continue when I move back to the states, my reportable income is around 8k USD which is below the 21k required minimum. My total savings (cash/stock) is around 160k (not including retirement funds). If I include retirement holdings, its around 250k. Assuming I don't include my retirement savings, I am still well over the 5x asset requirement ((21 - 8) * 5 = minimum 65k in assets)

 

Given that I meet the asset requirement with my small self employment income, is it still recommended I get a co-sponsor in this case?

 

Also the i-134 form seems to expect me to be either an employee OR self employed. Would it be an issue if I check off both of options or do I need to choose one?

 

 

[LaBeach 29]

On 7/9/2019 at 2:38 AM, Toffs said:

I've recently received my NOA2 and I am currently preparing the I-134 Affidavit of Support and trying to figure out if I need a co-sponsor. I make well over the minimum income requirements however my income comes from 2 sources:

 

1. Salaried from foreign employer. This is excluded under FEIE so it's essentially 0 for tax purposes. Additionally it will not continue next year when I move back to the states. 

2. Self employment income of around 8k USD a year

 

Since my foreign income is 0 under FEIE and I cannot prove it will continue when I move back to the states, my reportable income is around 8k USD which is below the 21k required minimum. My total savings (cash/stock) is around 160k (not including retirement funds). If I include retirement holdings, its around 250k. Assuming I don't include my retirement savings, I am still well over the 5x asset requirement ((21 - 😎 * 5 = minimum 65k in assets)

 

Given that I meet the asset requirement with my small self employment income, is it still recommended I get a co-sponsor in this case?

 

Also the i-134 form seems to expect me to be either an employee OR self employed. Would it be an issue if I check off both of options or do I need to choose one?

 

 

you can be both. The lack of current income will be an issue, find a co-sponsor if possible.

[Regi 11]

Hello all,

 

Please advise with my case too.

 

Income of which year should meet the required amount?

If 2018- 14k

Projected 2019- 55k

Savings about 90k

Is it enough for required  $16910 with household of 2?

Please advise 

 

Thank you!

[geowrian 22,335]

Define "projected".

Projected income is not part of the I-134 or I-864. Current income is considered. Current income is how much you earn annually, not necessarily how much you plan to earn nor how much you will earn by the end of the tax year (unless self employed...since current income is what you report on your federal taxes).

[Regi 11]

For 2019 we will show the bank statements from January and July. It will be about 20k.

 

Is it not enough?

They will look only at IRS of 2018 which us 14k?

 

Savings cant help?

[geowrian 22,335]

6 minutes ago, Regi said:

For 2019 we will show the bank statements from January and July. It will be about 20k.

 

Is it not enough?

They will look only at IRS of 2018 which us 14k?

 

Savings cant help?

Are you self employed or do you get a W-2?

If self employed, they will consider your current income, which is what you reported on your 2018 taxes.

If W2, your current income would be paycheck * #paychecks_per_year. So if you earned $1000/week and get paid 52 weeks a year, that would be $52,000/year in current income.

 

[Regi 11]

Yes, my fiance is self employed, as a massage therapist , and IRS for 2018 is 14k(

But why his savings at 88k wont help?(

[geowrian 22,335]

5 minutes ago, Regi said:

Yes, my fiance is self employed, as a massage therapist , and IRS for 2018 is 14k(

But why his savings at 88k wont help?(

Then they will consider only $14k for the current income.

The savings absolutely can be listed and considered as assets. That adds a little under $30k in equivalent income, which is a big plus.

The CO makes a decision based upon the totality of the circumstances.

Edited July 11, 2019 by geowrian

[Regi 11]

Thank you!

 

Relieved....🙏🙏🙏

 If we show in the affidavit of support the savings at 88k and the car's cost at 7k, do we need to attach any documents  for the assets when I go for the interview?

🙏🙏🙏

[geowrian 22,335]

10 minutes ago, Regi said:

Thank you!

 

Relieved....🙏🙏🙏

 If we show in the affidavit of support the savings at 88k and the car's cost at 7k, do we need to attach any documents  for the assets when I go for the interview?

🙏🙏🙏

Yes, you must show evidence of any assets being claimed. For a bank account, 12 months of statements is usually fine, or a letter stating the amount of deposits and average balance over the past 12 months.

A secondary (not primary) vehicle can be included as an asset. Evidence necessary would need to show ownership (e.g. title), any liens against it, and current value. For a $7k car, I would guess KBB or NADA values would be sufficient. For a "high" valued vehicle or antique vehicle, an appraisal might make more sense.

[Regi 11]

Thank you a lot!!!!

[Regi 11]

And the last question please, because you answered so detailed 🙏🙏

 

Is it ok to bring a signed scanned version of affidavit of support to the interview?

The another fiancee from here passed her interview in June, she brought copies too..

[geowrian 22,335]

28 minutes ago, Regi said:

Is it ok to bring a signed scanned version of affidavit of support to the interview?

The another fiancee from here passed her interview in June, she brought copies too..

I am unaware of a CO recently not accepted a scanned/printed copy of the I-134 or supporting documents. There's not anything official that I know of for this with the I-134, but I haven't seen it be an issue. If others with the same consulate have done it successfully, or (more importantly) the interview instructions don't state otherwise, copies should be fine.

[Regi 11]

Thank you!!🙏