I-864 and income questions

[jj_154 0]

1. I have about $5,000 a year of interest and dividend income from various CD's savings accounts, and stocks. This income is also listed on my 1040 as gross income. Can I include this income on my I-864 as part of my yearly income #23 "My current individual annual income is"? Or is that blank only for income from a W-2 and not 1099 income?

2. I know I cannot put my Japanese income for entry #23, but I seem to recall somewhere that someone suggested putting the foreign income (adjusted to dollars) in parenthesis on this blank? Is that a good idea?

3. I have quite a bit of money in Japanese yen in my Japanese bank account. Can I include foreign currency (converted to dollars) as cash assets on line 26a?

Thanks,

John

[YuAndDan 153]

1. Use the TOTAL gross income listed on your returns, that includes the interest income, you include W2, AND 1099 income.

2. Only income that you reported to the IRS. The foreign income will not continue once you return to the USA, they are interested in IRS reported income.

3. You need to show how it will be transfered to the USA, but yes it can be counted as an asset.

http://www.visajourney.com/timeline/profile.php?id=43860

Edited March 8, 2008 by YuAndDan

[jj_154 0]

3. You need to show how it will be transfered to the USA, but yes it can be counted as an asset.

http://www.visajourney.com/timeline/profile.php?id=43860

We are planning on just doing a simple wire transfer to my U.S. account. I have done them about once a year since I came to Japan with no problem (of course never such a large one as my whole account). You basically have to deduct the finance charge and use the somewhat bad exchange rates that banks give you, but your money is basically converted at slightly above the going exchange rate. However, I do not know how to "show it will be transferred" except to say that we will use a bank wire transfer to my U.S. account.

Do you think this will be sufficient to satisfy the immigration officials?

Thanks,

John

[CarolynRitesh 0]

3. You need to show how it will be transfered to the USA, but yes it can be counted as an asset.

http://www.visajourney.com/timeline/profile.php?id=43860

We are planning on just doing a simple wire transfer to my U.S. account. I have done them about once a year since I came to Japan with no problem (of course never such a large one as my whole account). You basically have to deduct the finance charge and use the somewhat bad exchange rates that banks give you, but your money is basically converted at slightly above the going exchange rate. However, I do not know how to "show it will be transferred" except to say that we will use a bank wire transfer to my U.S. account.

Do you think this will be sufficient to satisfy the immigration officials?

Thanks,

John

Wish I could answer that question for you, but I am in the same boat! In fact, until I read this posting and the response, I didn't know you had to show how you will transfer the money to the US! In India, I have to provide proof that all the money was earned in India (all my pay stubs), and then I can repatriate my entire account. Otherwise, I would have a $10,000 cap on what I can remove in any given year outside of India. What are the banking/transfer regulations in Japan?

A side note, for future tax purposes for Ritesh and myself, will the CDs that are in his name in India have to be claimed on our tax returns next year? Looks like I will have to find a good accountant when I get back!

We have lined up a joint sponsor, but are only going to use them if the Consulate will not accept our assets (which are all currently in rupees, but well over the 125% x 3 threshold). I will post about what they say after our interview on April 3rd.

[Nancenet70 0]

i havent submitted yet

but i rang embassy

and asked if i needed to state how it would be transfered

and i just wrote a later

stating we will transfer husbands money using a simple wire transfer to my already established american account

and i gave name and address of account

hopefully this will be sufficient proof?

[jj_154 0]

Thanks,

I will try that too. I hope a simple letter it will suffice. If not, then I will have a joint sponsor, but I would like to have avoided it.

John

[trailmix 77]

Thanks,

I will try that too. I hope a simple letter it will suffice. If not, then I will have a joint sponsor, but I would like to have avoided it.

John

We are in Canada, our assets are Canadian. At my Husband's interview last month they simply asked if we intended to transfer our assets to the U.S.. The answer was yes and that was the end of it. Good to see you are so prepared though jj - since each consulate and CO works a bit differently, good idea to have back up.

For any cash you are using, if your country allows a U.S. bank account, that's not a bad idea (bank account in U.S. dollars that is).

Good luck