AOS- Affidavit of Support Income

[Dave12345678 7]

Hello Everyone,

I have a question for the group on how to present my financial position for AOS- Affidavit of Support.

I’m 56 and left my job last year and consider myself retired.  It’s just me and my new wife.

I really don’t want to go get a menial job to satisfy the income requirements,  

I do plan on going back to work in the future just not the immediate future.

 

Here’s my financial position:

401K - $430,000 (almost all in cash)

Pension - $180,000 (Today’s cash value)

Cash $168,000

 

1.       I could classify myself as unemployed and provide the above information with the bank statements.

Or

2.       Classify myself as retired and start drawing enough from my 401K to satisfy the minimum annual income requirement with the bank statements

 

Pros and Cons? All comments are welcome, Thanks.

[arken 4,197]

2 is not an option, drawing from your own retirement fund is not considered a regular income like wages and others.

 

Go with option 1, fill out Assets part on i864.

[JeanneAdil 6,201]

he can use 401 K as assets at discretion of the CO

401 K can easily be converted into cash in less than a year and he is 56 so no penalty

immigration would consider 60% as federal and state taxes are due on the disbersement of the entire $430,000

 

https://www.lawyers.com/ask-a-lawyer/immigration/can-i-inclucide-401k-as-asset-1050016.html#:~:text=You may be able to,of the penalty and tax.

You may be able to use your 401(k) to meet the affidavit of support requirements. It would depend upon the current value as well as how much is vested and how would be left after imposition of the penalty and tax.Jun 13, 2016