using assets to meet support requirements

[Keith&Larpi 0]

Regarding K1 in the Philippines (USEM)

I'd like to hear other people's experiences in not having tax returns or w-2s, but instead using assets to satisfy the K1 support requirements.

How did it go with others using this route?

Thanks

Edited July 11, 2014 by Keith&Larpi

[waka1 28]

Not sure if this helps, but I receive two tax free pensions related to my years working in government service. As a result my 2013 1040 tax reflects zero income, zero taxes, and no W-2. In order to satisfy the requirement, I submitted documents from two different agency's indicating my tax status, make sure that are current, along with retirement pay stubs from one, in the case of the VA, monthly bank statements going back years directly deposited into my account. I'm fine with assets

I sure a hell hope the CO understands this, as my fiancé's consular interview is monday...

Good Luck,

Rob187

[Hank_ 9,174]

Regarding K1 in the Philippines (USEM)

I'd like to hear other people's experiences in not having tax returns or w-2s, but instead using assets to satisfy the K1 support requirements.

How did it go with others using this route?

Thanks

I answered this one for you once already, but I want to ask.

What is your source of yearly income? Do you collect dividends, interest, pensions or what?

Embassy will not accept "cash in the bank" assets or property assets to meet the income requirements. I know of others that tried that route and had to get a co-sponsor (they were IR-1 so could use a co-sponsor), with the K-1 the embassy usually doesn't ask for a co-sponsor just issues a denial.

[Keith&Larpi 0]

I answered this one for you once already, but I want to ask.

What is your source of yearly income? Do you collect dividends, interest, pensions or what?

Embassy will not accept "cash in the bank" assets or property assets to meet the income requirements. I know of others that tried that route and had to get a co-sponsor (they were IR-1 so could use a co-sponsor), with the K-1 the embassy usually doesn't ask for a co-sponsor just issues a denial.

Hank, you believe strongly that the Embassy will not accept assets to meet the support requirements. Can you share with me why that might be? I ask because this from the USEM website:

"For the consular officer to be able to evaluate the ability of the petitioner to financially support the applicant in the U.S., an I-134 Affidavit of Support should be submitted together with a copy of the petitioner’s most recent federal income tax return (Form 1040) and wage statements (W2). If the petitioner is unable to provide a Form 1040, he/she must submit other credible evidence of assets to meet the federal poverty guidelines. Such assets could include bank accounts, stock, personal property, real estate, and non-taxable sources of income such as Social Security payments, which should be available in the U.S. for the applicant’s support and must be readily convertible to cash within one year."

This implies pretty strongly to me that they say that they will accept assets.

I do have some non-taxable income which I have included in my documents, but I have substantial assets which are "... readily convertible to cash within one year." It seems to me that I meet this standard.

Your thoughts?

Edited July 11, 2014 by Keith&Larpi

[Keith&Larpi 0]

Not sure if this helps, but I receive two tax free pensions related to my years working in government service. As a result my 2013 1040 tax reflects zero income, zero taxes, and no W-2. In order to satisfy the requirement, I submitted documents from two different agency's indicating my tax status, make sure that are current, along with retirement pay stubs from one, in the case of the VA, monthly bank statements going back years directly deposited into my account. I'm fine with assets

I sure a hell hope the CO understands this, as my fiancé's consular interview is monday...

Good Luck,

Rob187

I hope so too Rob, I am in a similar situation and my fiancé's consular interview is the 23rd.

Would you report back and let me know what happens/happened?

I am submitting a very low income 1040 and a personal financial statement demonstrating substantial assets, as well as bank statements demonstrating sufficient tax-exempt income and a lot of net worth supporting documentation.

What I hope is the the CO knows what he is looking at, that's all I need. To that end I am including a cover letter explaining all of the documentation I am submitting. He just needs to read the cover letter, but no clue if, as busy as they are, anyone will bother to read!

Let us know what happens, ok?

[Hank_ 9,174]

Hank, you believe strongly that the Embassy will not accept assets to meet the support requirements. Can you share with me why that might be? I ask because this from the USEM website:

"For the consular officer to be able to evaluate the ability of the petitioner to financially support the applicant in the U.S., an I-134 Affidavit of Support should be submitted together with a copy of the petitioner’s most recent federal income tax return (Form 1040) and wage statements (W2). If the petitioner is unable to provide a Form 1040, he/she must submit other credible evidence of assets to meet the federal poverty guidelines. Such assets could include bank accounts, stock, personal property, real estate, and non-taxable sources of income such as Social Security payments, which should be available in the U.S. for the applicant’s support and must be readily convertible to cash within one year."

This implies pretty strongly to me that they say that they will accept assets.

I do have some non-taxable income which I have included in my documents, but I have substantial assets which would "... be readily convertible to cash within one year." It seems to me that I meet this standard.

Your thoughts?

I know what it states on the website, I have read similar on the USCIS website as well, and I have told people the 5X rule for making up the difference...until one day someone was actually doing just that and the CO would not look at the assets.

My reason for stating that I doubt that USEM will accept assets only to meet the support requirements is from experiences of others that have went this route. Friends of ours had this happen, so it is not a case of "someone said that so-in-so"... blah, blah .. , the husband was collecting S.S. and has considerable assets in the bank that he listed also, his S.S. (of course) was not adequate to meet the requirements and the embassy refused to accept his assets to make up the difference, requiring him to get a co-sponsor ... because they were IR-1.

Now you can take a run at USEM and maybe it was CO specific (but I doubt it), I would for sure suggest to be prepared with a backup plan.

You only need a gross income of $19,662 for two people.

I get S.S. and VA, neither or which are taxable, plus some other income, I did not have a tax return at the interview, heck I didn't have a tax return for AOS either. But I was able to show adequate income to meet the requirements, and even with me they didn't really care about my assets.

[Keith&Larpi 0]

Well Hank, that is the kind of information that I was looking for.

Have to say, I am strongly displeased that the USEM would specifically state in an official website that assets can be offered, and then refuse to even consider them. Sounds like one or the other are dumbshits, to the detriment of us petitioners. A refused to accept significant assets to make up an income difference is petty bullshit, especially if the assets are readily convertible to cash, as the website requires.

Good that I over-prepared then, but it's still bullshit.

Thank you for the additional context.

Anybody else have some real experience they might share?

[waka1 28]

Post my real experience Sunday EST....

[rosejosh 2]

Regarding K1 in the Philippines (USEM)

I'd like to hear other people's experiences in not having tax returns or w-2s, but instead using assets to satisfy the K1 support requirements.

How did it go with others using this route?

Thanks

I think I need to know what will happen to you too. My fiancé is a student and and he has money in the bank .. So that's the way on how to support the k1 application.. So please let me know if that will work. I need a real experience though.. Though my boyfriend told me that he have researched about it for one month and he's sure that his money could make it

[Keith&Larpi 0]

I think I need to know what will happen to you too. My fiancé is a student and and he has money in the bank .. So that's the way on how to support the k1 application.. So please let me know if that will work. I need a real experience though.. Though my boyfriend told me that he have researched about it for one month and he's sure that his money could make it

Based on Hank's post above, you might want to line up a co-sponsor (maybe his parents, brother or sister?) now and begin the paperwork for co-sponsorship. If your boyfriend has only done research online, Hank suggests that nothing online will prepare you for the USEM CO ignoring what they say online and just doing what he wants. If you have no co-sponsor, you might get denied and have to appeal which could be a very long process. (I don't know anything about the appeal process, better to avoid it if you can.)

Let's see what we hear back on Sunday or Monday.

[rosejosh 2]

Based on Hank's post above, you might want to line up a co-sponsor (maybe his parents, brother or sister?) now and begin the paperwork for co-sponsorship. If your boyfriend has only done research online, Hank suggests that nothing online will prepare you for the USEM CO ignoring what they say online and just doing what he wants. If you have no co-sponsor, you might get denied and have to appeal which could be a very long process. (I don't know anything about the appeal process, better to avoid it if you can.)

Let's see what we hear back on Sunday or Monday.

He told me that a lot of times.. So I don't know if he's letting me down or something. Hahaha so I want to hear a real story of someone having a case like mine. I want to say USEM accepts it as long as we have all the documents and requirements filed correctly..

[rosejosh 2]

Not sure if this helps, but I receive two tax free pensions related to my years working in government service. As a result my 2013 1040 tax reflects zero income, zero taxes, and no W-2. In order to satisfy the requirement, I submitted documents from two different agency's indicating my tax status, make sure that are current, along with retirement pay stubs from one, in the case of the VA, monthly bank statements going back years directly deposited into my account. I'm fine with assets

I sure a hell hope the CO understands this, as my fiancé's consular interview is monday...

Good Luck,

Rob187

Hello... Any news about your fiancées interview?? Did they accept the affidavit of support?

[waka1 28]

Hello... Any news about your fiancées interview?? Did they accept the affidavit of support?

Yes they did, it wasn't even questioned. Result: Visa approved 7/14

[rosejosh 2]

Yes they did, it wasn't even questioned. Result: Visa approved 7/14

Wowwwww!!!!! Congrats!!! You gave me hope..

[Hank_ 9,174]

Yes they did, it wasn't even questioned. Result: Visa approved 7/14

I didn't think you would have issues as you have documentation for your two pensions. I had no issues either and no tax return