affidavit of support (investment account)

[jarta 24]

if you are using an investment account for your affidavit of support for a K1, what supporting documents do you need from your investment company to prove that you meet the requirements? i know i will still need tax transcripts.

[jarta 24]

anybody? please

[Winning23 25]

anybody? please

Investment account statements from the brokerage would be ideal.

Also any interest earned statements from the brokerage which are filed w/ taxes should be included.

Just make sure, if you are using investment account as the 'sole' affidavit of support, I really hope you have one year of income or above in account balance, because without a full-time job in the USA, you should enough savings to support your K1 fiance(e). Also where are the funds for this investment account coming from, immigration may ask later.. just a though

Edited September 26, 2011 by sucasa

[az110965 252]

Your quarterly account statements from your brokerage house will be needed to substantiate your funds. I would provide a years worth to show that you have not just recently made a substantial deposit to your account.

Don't forget the "3x rule" where by you must prove assets that are 3 times the 125% of poverty rate for the number in your household. IE: if 125% is for example $25,000 you must show assets totaling $75,000.

[jarta 24]

Investment account statements from the brokerage would be ideal.

Also any interest earned statements from the brokerage which are filed w/ taxes should be included.

Just make sure, if you are using investment account as the 'sole' affidavit of support, I really hope you have one year of income or above in account balance, because without a full-time job in the USA, you should enough savings to support your K1 fiance(e). Also where are the funds for this investment account coming from, immigration may ask later.. just a though

thanks very much for your reply. we do have investment account statements from the brokerage, 3 years of tax transcript which is over the poverty line. i guess the tax transcripts will show the interest earned from the investment? the funds are coming the investment account which are all in stocks.

the account statements seems to be confusing. i wonder if a CO would have the patience and the knowledge it requires to understand it.

Edited September 27, 2011 by jarta

[jarta 24]

Your quarterly account statements from your brokerage house will be needed to substantiate your funds. I would provide a years worth to show that you have not just recently made a substantial deposit to your account.

Don't forget the "3x rule" where by you must prove assets that are 3 times the 125% of poverty rate for the number in your household. IE: if 125% is for example $25,000 you must show assets totaling $75,000.

thanks. good point about providing a years worth. but do you think the CO would understand these statements?

[az110965 252]

The Consular will indeed be able to understand the statements - they see a lot of pertinent financial documents and you using asset based support documentation is not unusual.

What they are looking for is a money trail in your account. That is the reason I recommend sending a year's worth of statements, It wouldn't be good for example if your account had $20,000 in it 6 months ago and now it had $100,000 - the consulate could construe that as you having someone loan you some cash to boost your assets to qualify.

Definitely provide your long form 1040 which shows interest accrued and taxes paid on the interest.

[jarta 24]

The Consular will indeed be able to understand the statements - they see a lot of pertinent financial documents and you using asset based support documentation is not unusual.

What they are looking for is a money trail in your account. That is the reason I recommend sending a year's worth of statements, It wouldn't be good for example if your account had $20,000 in it 6 months ago and now it had $100,000 - the consulate could construe that as you having someone loan you some cash to boost your assets to qualify.

Definitely provide your long form 1040 which shows interest accrued and taxes paid on the interest.

thanks once again..what is the long form 1040, would the tax transcripts not be enough? would it be good if we have the brokerage house write a letter stating how long we have been investing with them and all that stuff?

Edited September 27, 2011 by jarta

[az110965 252]

Long form 1040 shows the worksheet you used to formulate your interest from the brokerage accounts (I doubt that you used the standard deduction if your income is derived from interest accrued from your investments).

Attach all pages of your 2009 and 2010 1040's along with any W-2's you might have received if your worked. Otherwise the end of yor statement you receive from your account which shows your YTD interest will suffice. (1099INT form).

Edited September 27, 2011 by az110965

[jarta 24]

Long form 1040 shows the worksheet you used to formulate your interest from the brokerage accounts (I doubt that you used the standard deduction if your income is derived from interest accrued from your investments).

Attach all pages of your 2009 and 2010 1040's along with any W-2's you might have received if your worked. Otherwise the end of yor statement you receive from your account which shows your YTD interest will suffice. (1099INT form).

mann this sounds so complicated! i was hoping having statements from brokerage house, 3 years of tax transcripts and maybe a letter from the brokerage house might be enough, but i we need more stuff. it better to have more evidence than less.

thanks

[Winning23 25]

mann this sounds so complicated! i was hoping having statements from brokerage house, 3 years of tax transcripts and maybe a letter from the brokerage house might be enough, but i we need more stuff. it better to have more evidence than less.

thanks

I agree w/ the long form 1040. It details the paper trail of your investment earnings, which legitimize the interest income, along w/ the fact, the petitioner has filed taxes correctly..

I would still argue or the CO will ask, what the primary source of income if no job is detailed in the affidavit of support.

Alot of people have investment accounts i.e.Money Market, Etrade, scottrade,etc, but it's more important for US Government

to identify a recurring source of income in USA, unless the interest you are earning from the investments is yielding a normal monthly salary.. i.e. above $4,000 / monthly in interest income..

Anyhow, double check w/ a immigrant attorney to make you detail the application correctly so no questions are raised. Best of luck

[skiptex 225]

az..

do i need to show my house mortgage and ira information if i make $42,500 and it is above the poverty level for 2 people and the required 125% over poverty level? i can all this info together if i need t list it all..

[jarta 24]

I agree w/ the long form 1040. It details the paper trail of your investment earnings, which legitimize the interest income, along w/ the fact, the petitioner has filed taxes correctly..

I would still argue or the CO will ask, what the primary source of income if no job is detailed in the affidavit of support.

Alot of people have investment accounts i.e.Money Market, Etrade, scottrade,etc, but it's more important for US Government

to identify a recurring source of income in USA, unless the interest you are earning from the investments is yielding a normal monthly salary.. i.e. above $4,000 / monthly in interest income..

Anyhow, double check w/ a immigrant attorney to make you detail the application correctly so no questions are raised. Best of luck

thanks..do you think i should get a letter from the brokerage house? if i do, what should i tell them to in write, how long the account has been with them, past incomes from interests and a prediction of future income from interest?

thanks

Edited September 27, 2011 by jarta

[Winning23 25]

thanks..do you think i should get a letter from the brokerage house? if i do, what should i tell them to in write, how long the account has been with them, past incomes from interests and a prediction of future income from interest?

thanks

Well, you don't necessarily need a letter from the brokerage,but, I think more important for the interviewer will be how did you initially fund your brokerage accounts.

Suppose someone has $200,000 in a money market account in the USA, with no regular income it would behoove an immigration agent to ask, where and how you fund your account. So have some paper trail which you funded the account with your money from your bank. Also most investment banks in the USA are linked to a primary saving or checking account from a bank.

[jarta 24]

Well, you don't necessarily need a letter from the brokerage,but, I think more important for the interviewer will be how did you initially fund your brokerage accounts.

Suppose someone has $200,000 in a money market account in the USA, with no regular income it would behoove an immigration agent to ask, where and how you fund your account. So have some paper trail which you funded the account with your money from your bank. Also most investment banks in the USA are linked to a primary saving or checking account from a bank.

thanks sooo much. i am beginning get the big picture. so i think i need to show the CO how that investment account came about and income from interest earned from the account over the years and also what type of investment account it is. there shouldn't be sudden deposit to increase the amount in the account. also should the income earned from the interest be above the poverty rate?