K1 - Income Requirement for Manila Interview

[HoustonTexan 0]

Hi All,

 

I have this unfortunate situation where I was laid off from my job after I submitted the I-129 and my interview is next month.  Will Manila accept liquid assets in lieu of income?

 

- My previous 3 years ITR and W2 (all AGI above $120K+)

- I have made well over the minimum income requirement for this year before losing my job and I have paystubs to prove this

- I have substantial assets (at least for me it is), $1.5m+ in bank accounts and retirement accounts. I will prove statements to prove all this at the interview.  This doesn't include my house which is paid for.  

 

My profession is an IT Manager and my fiance is an Accountant.  She worked in Dubai the previous 5 years.  My household will be 4 including my fiance.  I hope to have a new job before the interview but in case I don't, will my assets work?

 

Thanks in advance

 

[yankeedave 1]

Your income level qualification is based on your federal tax filings for the past three years (as of 2017, that means 2014, 2015, and 2016). Just include copies of your federal tax "returns" for these years with your I-864 Affidavit of Support and you should have no problem. 

FYI, for petitioners whose current incomes fall short of the requirement, but who have assets that qualify them financially as sponsors, there is a section in the I-864 that provides for the disclosure of those assets. But from what you said, you don't even need to disclose those assets.

Good luck with your Visa-Journey. I'm sure you will do just fine.

[HoustonTexan 0]

Thanks YankeeDave for your kind response.  I'm concerned because I've heard the Manila USEM won't allow the use of assets in lieu of income for K1 (non-immigrant Visas).  I know they allow it for CR1s.    I've read both ways but there doesn't seem to be a definite answer one way or the other.  If they allow me to use my assets then I should not have any problems whatsoever, but if they don't, then they could deny us.  That would be ashamed because there is no way my fiance would be a public charge with my assets, but again, they make the rules.  I was hoping someone that has experienced my dilemma could comment on their experience.  Thanks. 

 

[Habibati & Habibi 21]

On 7/13/2017 at 9:43 AM, yankeedave said:

Your income level qualification is based on your federal tax filings for the past three years (as of 2017, that means 2014, 2015, and 2016). Just include copies of your federal tax "returns" for these years with your I-864 Affidavit of Support and you should have no problem. 

FYI, for petitioners whose current incomes fall short of the requirement, but who have assets that qualify them financially as sponsors, there is a section in the I-864 that provides for the disclosure of those assets. But from what you said, you don't even need to disclose those assets.

Good luck with your Visa-Journey. I'm sure you will do just fine.

Hi yankeedave

if I am filling for I-134 and I did my taxes previously  and I had good income but this year I am unemployed and just found a new job, so how could a CO evaluate my income, is it based on my new job? or how much I made last year? and what I need to enclose with the I-134 form if both self employed (part time) and employed.

it is really confusing but I need help

[yankeedave 1]

An I-134 filed during 2017 must show income records (federal income tax files) for the years 2014, 2015, and 2016. Your 2017 income is irrelevant. Whether you earned the money by salary or by self-employment is also irrelevant. What counts is the net profit line on your federal tax returns. You need to show that you earned at least 125% of the US poverty level income guideline levels for the above mentioned years.

If you are currently a household of one person, calculate your number using a household size of two (you and your sponsee). If you currently have a household size of two, then calculate for three, etc.

[Greenbaum 12,260]

Three years of Taxes is not a requirement for USEM. Only need the current tax return. So 2016 is only needed but read further for a complete list of requirements. This is the requirement for USEM only. I am not aware of other Embassy's:

 

EVIDENCE OF SUPPORT. You should be able to demonstrate that you will not become a public charge or burden on the U.S. taxpayers for financial support. A completed I-134 Affidavit of Support Form may be useful to the consular officer to evaluate your petitioner’s ability to be financially responsible for you. You may also be asked to submit your petitioner’s most recent U.S. Federal income tax return (Form 1040) and wage statements (Form W-2). Employment letters stating salaries and bank statements may be included to substantiate the I-134. Download Form I-134 at http://www.uscis.gov/portal/site/uscis.

 

https://ph.usembassy.gov/wp-content/uploads/sites/82/2016/08/K1-and-K2-Applicant-Interview-Preparation-Instructions-08112016-English-336KB.pdf

 

The interviewing CO's know that sometimes these things happen, where you are midway between employment and they evaluate your application accordingly. Most times USEM hasn't asked for Evidence of Support for over 2 years. So, you may not be asked for documentation but be prepared with the items from Embassy letter (link is above and I quoted exactly the requirement - see above). They are using the income that you submitted at your initial filing of the K-1 visa. 

 

They can evaluate assets but their is a criteria that they use. Most applicants don't meet these standards so that is why you are hearing that USEM doesn't use assets which is totally false.  I have this tidbit of information.

 

Here is a quick FAQ on using assets to qualify under the K-1 income value.

 

Q: How Can I Use Assets to Qualify?

A: Assets may supplement income if the immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the fiancé visa applicant and converted to cash within one year without undue harm to the sponsor or his or her family members.  You may not include an automobile unless you show that you own at least one working automobile that you have not included.

 

Q: What assets can be used?

A: Any type of asset can be used if it is readily convertible to cash within a year. Liquid assets, such as savings deposits, stocks, bonds, and certificates of deposit will be viewed most favorably because they would be most accessible for the support of sponsored immigrants. Other assets, such as property, may also be acceptable if they can be sold within a year.

 

Q: What evidence of assets is required?

A: Evidence establishing ownership and the value and location of assets is required. Information on any liens and/or liabilities relating to these assets must be provided. For bank accounts, bank statements for the most recent 12 months, or a letter from the bank stating the date the account was opened, a history of deposits and withdrawals for the past 12 months.

[j N j 50]

I have similar questions for a Manila Interview also..  

 

[Greenbaum 12,260]

On 7/11/2017 at 11:47 AM, HoustonTexan said:

Hi All,

 

I have this unfortunate situation where I was laid off from my job after I submitted the I-129 and my interview is next month.  Will Manila accept liquid assets in lieu of income?

 

- My previous 3 years ITR and W2 (all AGI above $120K+)

- I have made well over the minimum income requirement for this year before losing my job and I have paystubs to prove this

- I have substantial assets (at least for me it is), $1.5m+ in bank accounts and retirement accounts. I will prove statements to prove all this at the interview.  This doesn't include my house which is paid for.  

 

My profession is an IT Manager and my fiance is an Accountant.  She worked in Dubai the previous 5 years.  My household will be 4 including my fiance.  I hope to have a new job before the interview but in case I don't, will my assets work?

 

Thanks in advance

 

 

2 hours ago, j N j said:

I have similar questions for a Manila Interview also..  

 

Keep in mind that a forum like this one is for initial bonding with others who are along the same timeline as you for initial processing. The initial application is the same no matter where in the world you are. But, having said that, once you get your approval (NOA2 text message or email), you should include your country's sub-forum to get a better understanding of the process for the Embassy that you will be interviewing with, and to get direct answers from those who have completed the steps you are about to at the US Embassy. The forum for the Philippines is here http://www.visajourney.com/forums/forum/129-philippines/  I hope to see all of you who are processing through the Philippines over in the forum.   

[j N j 50]

3 hours ago, Greenbaum said:

 

Keep in mind that a forum like this one is for initial bonding with others who are along the same timeline as you for initial processing. The initial application is the same no matter where in the world you are. But, having said that, once you get your approval (NOA2 text message or email), you should include your country's sub-forum to get a better understanding of the process for the Embassy that you will be interviewing with, and to get direct answers from those who have completed the steps you are about to at the US Embassy. The forum for the Philippines is here http://www.visajourney.com/forums/forum/129-philippines/  I hope to see all of you who are processing through the Philippines over in the forum.   

Indeed!, Im already aware of that forum, and browse it regularly.. Thanks Greenbaum..

[HoustonTexan 0]

Thank you Greenbaum for your detailed response.  I know you are a respected member here and very knowledgeable with the Philippines USEM. Your feedback makes me feel much better about my situation. My fiance will bring all the statements to substantiate the assets on my I-134.  Hope to get a reasonable CO that will review my assets and see my fiance will not be a public charge to the US.  I will update this thread with our results.

 

Also, if you think this thread is more appropriate in the Philippines forum, please feel free to move it there.

 

Thanks again,

Eric  

[LabOz 915]

Affidavit of support and income tax review is rarely done at the Manila embassy for K-1.

Having said that based upon the financial info you provided you should have ZERO problems.

If you have 1.5 million in savings this would generate you an income of approximately $60,000 per year if drawn at 4%.

In any case they would not ask for 2017 income info at this time.

I would keep my mouth shut and only give what they ask if you are attending with her.

[Greenbaum 12,260]

2 minutes ago, LabOz said:

Affidavit of support and income tax review is rarely done at the Manila embassy for K-1.

Having said that based upon the financial info you provided you should have ZERO problems.

If you have 1.5 million in savings this would generate you an income of approximately $60,000 per year if drawn at 4%.

In any case they would not ask for 2017 income info at this time.

I would keep my mouth shut and only give what they ask if you are attending with her.

[HoustonTexan 0]

Thanks LabOz for the encouraging response.  We won't volunteer any information and only provide what is asked of us.  I'm not worried about them asking for my 2017 income but one common question the CO asks beneficiaries is, what is your fiance's job and where does he work? Then the current sustainable income may come into question.  That's where I hope they will allow us to use my assets but Greenbaum confirmed they will so I think we should be ok.