Assets calculation

[thaiv 15]

Currently I am borderline for making the requirements for the I-134 Affidavit of Support and I may use assets to help meet it. How are the assets calculated? Is it (required monthly salary - actual monthly salary) * 3 or is it (required yearly salary - actual yearly salary) * 3? Also is 3 the right number to multiply? I read somewhere that it was 5 but I think most places say 3. Is there a provision for this actually written out from the USCIS?

[Darnell 8,478]

the formulas for the computations actually are from the I-864.

Grab one of those, review the instructions, and go forth.

Where you are multiplying, IMO, you should be dividing. Also, it's a yearly amount, not a monthly amount.

IIRC - it's

(Threshold - income ) + (assets value / 3) = > Threshold

Edited August 3, 2010 by Darnell

[Lansbury 19]

We used only assets when we came over.

To calculate the value of assets required it is the poverty level figure for your size family multiplied by 3. So if you have income which falls short of the poverty level it is the short fall multiplied by 3.

One proviso. The 3 multiplier I know is for those already married. I have a niggling doubt that for those coming over on a finance's visa it is 5 times. You need to check that to be sure.

[thaiv 15]

We used only assets when we came over.

To calculate the value of assets required it is the poverty level figure for your size family multiplied by 3. So if you have income which falls short of the poverty level it is the short fall multiplied by 3.

One proviso. The 3 multiplier I know is for those already married. I have a niggling doubt that for those coming over on a finance's visa it is 5 times. You need to check that to be sure.

I just looked it up on the i-864 instructions and the formula would be: needed assets = (required yearly income - actual yearly income) * 3. It says its multiplied by 3 if its your spouse.

[Anh map 2,098]

You would need to provide proof of the asset value as well. See the I-864 instructions for specifics.

[Lansbury 19]

I just looked it up on the i-864 instructions and the formula would be: needed assets = (required yearly income - actual yearly income) * 3. It says its multiplied by 3 if its your spouse.

Yep it is 3 if it is your spouse, that is what I said, but he said for the I-134 and that I thought was for a finance so not a spouse so would be 5 would it not?.

It is the use of the I-134 I'm not sure of having done DCF via London.

Edited August 3, 2010 by Lansbury

[thaiv 15]

Yep it is 3 if it is your spouse, that is what I said, but he said for the I-134 and that I thought was for a finance so not a spouse so would be 5 would it not?.

It is the use of the I-134 I'm not sure of having done DCF via London.

That is a good point that you bring up. I have read elsewhere though that one should do the I-134 as if they were doing the I-864 since that is what would be counted eventually when readjusting status. If I am not mistaken the I-864 is a general affidavit of support meaning that it could be used for any family member or maybe even a foreign exchange student. I would think that it would still be multiplied by 3 because really your fiancee would eventually be your spouse.

Now this is my conjecture based on what I have read on the internet and on this forum. Does anybody have something official on this matter?

[JimVaPhuong 4,863]

There are no hard rules for the I-134 - the consular officer has discretion, so they could conceivably set any threshold they want.

However...

What they're generally looking for is proof that the beneficiary will have a qualified sponsor when it comes time to submit an adjustment of status application. That means they usually apply the same standards that will be applied when you eventually submit an I-864. Since the beneficiary would be your spouse at that time, they usually apply the 3X asset rule for the primary sponsor, and the 5X rule for a joint sponsor.

Bearing in mind the first statement above, since the consular officer has discretion they aren't required to consider assets at all, and some consulates won't. They also aren't required to allow joint sponsors, and again, some consulates won't. How easy or strict they will be depends a lot on which consulate your fiancee will interview at.

[kelleyandivan 0]

There are no hard rules for the I-134 - the consular officer has discretion, so they could conceivably set any threshold they want.

However...

What they're generally looking for is proof that the beneficiary will have a qualified sponsor when it comes time to submit an adjustment of status application. That means they usually apply the same standards that will be applied when you eventually submit an I-864. Since the beneficiary would be your spouse at that time, they usually apply the 3X asset rule for the primary sponsor, and the 5X rule for a joint sponsor.

Bearing in mind the first statement above, since the consular officer has discretion they aren't required to consider assets at all, and some consulates won't. They also aren't required to allow joint sponsors, and again, some consulates won't. How easy or strict they will be depends a lot on which consulate your fiancee will interview at.

Thank you for this information (and thanks to everyone else who has contributed, as well). My fiance and I are preparing for an interview in Johannesburg, South Africa, but I can't find a whole lot of information about what to expect.

Does anyone know how strict Johannesburg is???

Right now, I'm making above the 125% of the poverty line talked about (but not by too much), and I have some savings and assets. Could I still be refused potentially?

[JimVaPhuong 4,863]

Thank you for this information (and thanks to everyone else who has contributed, as well). My fiance and I are preparing for an interview in Johannesburg, South Africa, but I can't find a whole lot of information about what to expect.

Does anyone know how strict Johannesburg is???

Right now, I'm making above the 125% of the poverty line talked about (but not by too much), and I have some savings and assets. Could I still be refused potentially?

According to the consulate reviews, they can be strict about having all of the necessary documentation, but nobody mentioned them being overly strict with the income thresholds. If you qualify, even if only a by a little, then you should probably be ok.

Unless the savings are in the thousands of dollars then I wouldn't bother listing them. If you choose to list assets then you need to provide evidence that you own the asset and it's value. A bank statement should suffice for savings. Real estate equity can also be used, but it's complicated - you have to provide a copy of the deed proving you own the home, a copy of your current mortgage statement showing how much is owed, and a copy of a recent certified appraisal showing the current market value of the home. You can list cars, but only if you own more than one. The rule is that it must be possible to convert the asset to cash within 12 months without undue hardship or financial loss. Selling your only car would be an undue hardship as it would make you a pedestrian. Cashing out a 401(k) would incur a considerable penalty, which would be a financial loss.

[kelleyandivan 0]

According to the consulate reviews, they can be strict about having all of the necessary documentation, but nobody mentioned them being overly strict with the income thresholds. If you qualify, even if only a by a little, then you should probably be ok.

Unless the savings are in the thousands of dollars then I wouldn't bother listing them. If you choose to list assets then you need to provide evidence that you own the asset and it's value. A bank statement should suffice for savings. Real estate equity can also be used, but it's complicated - you have to provide a copy of the deed proving you own the home, a copy of your current mortgage statement showing how much is owed, and a copy of a recent certified appraisal showing the current market value of the home. You can list cars, but only if you own more than one. The rule is that it must be possible to convert the asset to cash within 12 months without undue hardship or financial loss. Selling your only car would be an undue hardship as it would make you a pedestrian. Cashing out a 401(k) would incur a considerable penalty, which would be a financial loss.

Thanks so much for this additional information! I appreciate your help!!

[Lansbury 19]

but nobody mentioned them being overly strict with the income thresholds.

That is because they have no discretion with the income threshold. If you met it if only by the exact amount they must accept it. If you are under they cannot accept it so strictness doesn't come into it. You either met the income required or you don't.

[thaiv 15]

Based on the above responses, how strict is the Mexican consulate in regards to the income poverty level, assets, and joint sponsors?