IR1 form I-864 ... can only assets be used if no job?

[Nnickol 0]

Hi, a quick question,

I have read that when completing form I-864 that assets can be used if income does not meet the minimum requirements. With that in mind, can I assume that if there is zero income but the sponsor (my wife) has assets equal to or greater than 3 times 125% of HHS Poverty Guidelines or if the beneficiary (myself) have 5 times 125% of HHS Poverty Guidelines that we'll qualify? Thanks for your responses.

Nick

[Harpa Timsah 13,258]

Yes.

[Dave&Roza 748]

Hi, a quick question,

I have read that when completing form I-864 that assets can be used if income does not meet the minimum requirements. With that in mind, can I assume that if there is zero income but the sponsor (my wife) has assets equal to or greater than 3 times 125% of HHS Poverty Guidelines or if the beneficiary (myself) have 5 times 125% of HHS Poverty Guidelines that we'll qualify? Thanks for your responses.

Nick

It can be done, but the assets must be readily convertible into cash--i.e. within one year--and not cause an undue hardship if sold. They must have an official appraisal done. The primary residence is not allowed as it would cause an undue hardship if sold. The magic number for a household size of 2 is approximately $60k in assets with no income. Since you are married, why wouldn't you just include your wife on your assets? This would help in the next phase of removing of conditions (ROC) as well.

Good luck,

Dave

[Nnickol 0]

Since you are married, why wouldn't you just include your wife on your assets? This would help in the next phase of removing of conditions (ROC) as well.

Good luck,

Dave

Thanks for the reply Dave. I don't follow the question above. By include my wife are you saying combine all our assets? We do have separate bank accounts and investments and even excluding our primary residence we both exceed the $60,000 number individually.

Nick

[JnRMo 16]

Sharing assets with joint ownership of accounts helps show the relationship is valid.