Form I-134

[Phallon 0]

Hi guys,

I'm new here and a question about the financial requirements to get my b/f a K-1 visa. I am shy by $350 for the minimum income requirements. What are my options? Can I use my IRA as an asset because if I can do that I have it in the bag, if not can I get say my brother to co-sign since he makes more money than I do? We will probably be filing in the next couple of months so am trying to get all my ducks in a row. What if I change jobs between now and then are they going to be looking at my current income or my past income? If I get a new job it will be more money. BTW he's coming from Canada.

Thanks in advance,

Phallon

[RosaMystica7 0]

Well, here's a more important question. Will you be able to support the both of you with your income alone for the first 6 - 9 months he's in the States? He only has a chance at a temp EAD if his POE is JFK. So if his POE isn't JFK that would mean he can't work before marriage. Then after marriage you can apply for his working papers in with the AOS packet, but that can take months to process. That means it'll only be you supporting the both of you.

The minimum requirement is 125% of the poverty guidelines. That means you need to be making barely above the poverty level to be his sponsor. If you're making less than that I would guess that you're making the povery level. Could you support you and your fiance alone with a salary that's basically the poverty level?

In my situation, I was making under the requirement... it was my first full-time job, my work history is shady. I quit that job and interviewed for 2 months until I found the job that I'm in now, which makes well over the requirement and enough for me to support us both on. I talked to an immigration lawyer and was told that, as long as I hold this job for the entire duration of the visa journey (from initial petition to his interview in Paris) to prove my dependability I'll be fine. So I pass that advice onto you... make enough money to support you both, which will be over the requirement anyway, and hold that job for the entire duration of your visa journey.

As far as a co-sponsor is concerned, it'd be great to have one regardless, even just as a back-up in case they ask! I wish I could do this, but everyone right down to my parents won't sign one so... oh well, it's ok. So if you can get someone to sign as a co-sponsor, even if you're in great shape financially I still recommend it anyway, it's a nice comfort to know you can hand the interviewer that piece of paper should they ask for it.

[kitkat1 5]

Can I use my IRA as an asset? What if I change jobs between now and then are they going to be looking at my current income or my past income?

I would include your IRA under the I-134 section that says: "I have stocks and bonds with the following market value, as indicated on the attached list,which I certify to be true and correct to the best of my knowledge and belief."

They will be looking at past income but you will also, most likely, submit current and previous paystubs as well as a letter from your employer. It depends on your consulate's requirements.

If you are concerned, then best to get a co-sponsor.

[Phallon 0]

Yes I can get a co-signer if necessary I have been at my current position for over 9 years now and even if I change jobs I think that at least I can show I'm dependable. As far as making ends meet he is still working in Canada and is saving every penny he can make by moving with his parents so that he will have some cash to bring over to tide us over until he is able to get clearence to work. So perhaps I still get a co-signer just in case like you said it doesn't hurt.

My IRA is well over the minimum poverty level requirements just my monthly income is not but I manage to make ends meet...don't ask me how but I do. LOL

Thanks,

Phallon

Can I use my IRA as an asset? What if I change jobs between now and then are they going to be looking at my current income or my past income?

I would include your IRA under the I-134 section that says: "I have stocks and bonds with the following market value, as indicated on the attached list,which I certify to be true and correct to the best of my knowledge and belief."

They will be looking at past income but you will also, most likely, submit current and previous paystubs as well as a letter from your employer. It depends on your consulate's requirements.

If you are concerned, then best to get a co-sponsor.

[lostinblue 1,989]

Hi guys,

I'm new here and a question about the financial requirements to get my b/f a K-1 visa. I am shy by $350 for the minimum income requirements. What are my options? Can I use my IRA as an asset because if I can do that I have it in the bag, if not can I get say my brother to co-sign since he makes more money than I do? We will probably be filing in the next couple of months so am trying to get all my ducks in a row. What if I change jobs between now and then are they going to be looking at my current income or my past income? If I get a new job it will be more money. BTW he's coming from Canada.

Thanks in advance,

Phallon

I myself work full time and also have a small business . The small business at times can be used through depreciation to lower my tax bill at the end of the year.This would cause my income to be lower than allowed to support someone at the present guidelines. I asked my CPA accountant this question about using my IRA. His reply was it ( the IRA )is considered an asset and can be used as such. You say you are short $350 multiply by 5 and that is what assets are required to meet the minimum. So even if you have a few thousand in the bank you would be covered. You will be using this years tax information as if you are just starting this process and things do move on the slow side.You will file in April 2007 and that is the information you will need to use by time interview rolls around. On the 1040 form line 22 is the magic number to use in the equation for the poverty rate. Not what your W-2 said you made , If you are in the future making more money per week than in the past a letter from your employer would help your cause a great deal. To ask someone to co-sponser a person should not be taken lightly as of the long term liability in dealing with this matter.

[RosaMystica7 0]

To ask someone to co-sponser a person should not be taken lightly as of the long term liability in dealing with this matter.

What sort of liability? I know the AOS co-sponsor can be legally binding and is more long-term. But the co-sponsor at the visa interview... from what I remember, that's not legally binding, right? And isn't it just applicable for a few months, until AOS? Does the co-sponsor at the interview HAVE to be the co-sponsor at AOS, too?

Edited December 7, 2006 by Angilla

[Phallon 0]

Well if I can use my IRA then I'll have the requirement without a problem but talked to my brother tonight and he has agreed to co-sponser us as well so I think we will have that problem taken care of. We are going to start the process in March after he comes down for a another visit because he is still waiting on his passport and we will need that to start the process so as soon as all that falls into place then we start the paperwork. YUCK...I'll keep you all posted. Thanks for the great advice.

Phallon

[Yodrak 7]

kitkat,

I agree with your thought of including the IRA information, but I disagree with your statement about past income. Yes, past income will be looked at, but it is current income that is the primary consideration. Income history a possible indicator of the sustainability of the current income, nothing more (except, possibly, in the case of a self-employed person who has no other way of showing their current income other than by extension of last year's income).

Yodrak

Can I use my IRA as an asset? What if I change jobs between now and then are they going to be looking at my current income or my past income?

I would include your IRA under the I-134 section that says: "I have stocks and bonds with the following market value, as indicated on the attached list,which I certify to be true and correct to the best of my knowledge and belief."

They will be looking at past income but you will also, most likely, submit current and previous paystubs as well as a letter from your employer. It depends on your consulate's requirements.

If you are concerned, then best to get a co-sponsor.

[bebop + rocksteady 0]

I would remind you, that the minimum income requirements are more of a "you must meet this amount and prove to us that you are going to be a stable sponsor" rather than a definitive cut off point. It's very possible to make more than that amount and not appear stable enough to be a sponsor. How long have you been at your job? Is it full-time? Is it temporary? What are the circumstances surrounding your job? Remember, the ability to be a sponsor when filing for a K1 (not the case during AOS) is more of a subjective call on the part of the consular officer.

From what you are saying, I'd say get another sponsor for your fiance.

That being said, I've been called an over-thinker on this forum more than once.

So my advice is always to the more cautious side.

Cass (bebop the great)

[CutienPurg 0]

No such thing as an over-thinker........you're a thinker and a preparer;)

[Phallon 0]

I would remind you, that the minimum income requirements are more of a "you must meet this amount and prove to us that you are going to be a stable sponsor" rather than a definitive cut off point. It's very possible to make more than that amount and not appear stable enough to be a sponsor. How long have you been at your job? Is it full-time? Is it temporary? What are the circumstances surrounding your job? Remember, the ability to be a sponsor when filing for a K1 (not the case during AOS) is more of a subjective call on the part of the consular officer.

From what you are saying, I'd say get another sponsor for your fiance.

That being said, I've been called an over-thinker on this forum more than once.

So my advice is always to the more cautious side.

Cass (bebop the great)

Hello there,

Well I have been at my present job now for over 9 years and my income is very stable. I can meet the requirements myself just think it would be a good idea to have that extra sponsor just in case they question anything. I will have a letter from my employer if I have too I'll stay where I'm at until this is over and done with to show the stablity of my job and then find a new one after we are done. I don't have to worry about not having a job or getting laid off or fired or anything as I mind my ps and qs fairly well. I will only need my brother to sponsor the extra $350 a year my yearly work income does not meet and my IRA has a very substantial amount of money in it and it is very accessible to me and more than meets the excess that is required to make the income requirements. Hope some of that made any sense. I'm just being paranoid I suppose.

Phallon