Questions regarding Assets

[vandiep 0]

125% poverty requires 32,000..i am 12,000 short for year 2010 but i have $60,000 in assets which covers the shortage. question is, would this covers for both parents or does it counts as only 1? do i need $120,000.. im petitioning for my mother and father.

i will make 40,000 for 2011.. so should i wait to submit the I-864 or go ahead and submit it now with the assets i have. im not worry about the local embassy because i will submit the 2011 tax return to them... but for now about the NVC being picky and not accepting for 2010

guideline doesnt say 1 or 2 person but i read someone said 2 person..

thanks

van

[JimVaPhuong 4,863]

Are you sponsoring both of your parents? How many other people are there in your household? Your income has to be enough to cover everyone currently in your household, any dependents or other immigrants you've sponsored who don't live with you, and ALL of the immigrants you are currently sponsoring. For example, if your current household consists of you and your spouse, and you don't have any dependents or other immigrants you've sponsored living somewhere else, and you're sponsoring both of your parents, then your household size for the affidavit of support is 4. You'd need $27,937 income/assets minimum (unless you live in Alaska or Hawaii).

What is the nature of your assets? Some types of assets are not acceptable. Since the immigrants are not your spouse or minor children then the assets must be 5X the shortage in income.

Normally, you have one year to respond to the affidavit of support request from NVC, but it sounds like you've already responded and they've rejected your affidavit of support. I'm not sure how much time they give you to respond with a sufficient affidavit or a joint sponsor in that case. Maybe it's one year from the date of the original fee bill. Dunno. Look at the notice you got and see if there's a date by which you must respond. There might not be enough time to wait until you're ready to send a 2011 tax return.

[vandiep 0]

5 people in household: wife, husband, child, mother & father = 32,000 yearly income

made 20,000 in 2010, $12,000 short. $60,000 in assets (checking acct)

only have paid the $88 but havent submit i864 yet

so is it 60k or 120k?

Edited September 30, 2011 by vandiep

[JimVaPhuong 4,863]

5 people in household: wife, husband, child, mother & father = 32,000 yearly income

made 20,000 in 2010, $12,000 short. $60,000 in assets (checking acct)

only have paid the $88 but havent submit i864 yet

so is it 60k or 120k?

It's a little closer to $33K - $32,712. You're nearly $13K short for 2010. You'd need 5X this amount in assets, or roughly $65K. If you're going to show this much money in cash assets after showing an income of only $20K then you can expect it to be scrutinized pretty thoroughly. Your income is well under the poverty guidelines for your household size, so they're naturally going to wonder where you got more than 3X your annual income in cash savings. I'd guess a year's worth of bank statements and a letter from a bank officer indicating your current balance and average balance each month over the past year. What they're going to want to know is whether anyone gave you that money temporarily to park in your checking account so that you'd qualify as a sponsor.

[vandiep 0]

thanks, looks like ill wait for 2011 tax return in late january..