Using 401K towards assets on IR1

[Jezza USA 0]

Hi,

 

There's a lot of info on the internet that suggests a 401K can be used towards a sponsor's assets on a CR1 visa, but also a lot that says it's largely down to the discretion of the consular officer on the day. However I can't find anything definitive, or to suggest anyone has actually tried it and been successful at interview. So my question is, HAS anyone?

 

My situation is that my US spouse wife, dual-cit son and I live in the UK & I have an approved I-130. We have $52,000 in cash savings in our joint US account (an inheritance from her dad passing away). My wife works here & since my last posts on this subject she has secured a legitimate job offer in the US with salary of $85,000 (transferring permanently to the the Orlando office of her UK employer).

 

I'm about to schedule my medical and interview but wanted to know how realistic my chances are of approval. I'm hoping the consular officer takes a pragmatic view. We're only $24,575 short of the £76,575 needed to meet poverty guidelines using just assets & my wife's 401K has a cash-in value of $49,000 after allowing for early surrender fee & federal taxes. 

 

A joint sponsor isn't an option for us, so we're really pinning everything on our assets and the job offer.

 

Any thoughts?

[Wuozopo 4,293]

From the form instructions:

Only assets that can be converted into cash within one year and without considerable hardship or financial loss to the owner may be included. The owner of the asset must include a description of the asset, proof of ownership, and the basis for the owner’s claim of its net cash value. (Page 8)

And

How Can I Use Assets to Qualify?

You may use assets to supplement income if the consular or immigration officer is convinced that the monetary value of the asset could reasonably be made available to support the sponsored immigrant 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. (Page 12) 

 

The penalty for early withdrawal might be considered a financial loss by a CO.

 

Because you are DCF, the form doesn't apply to you in the same way as most sponsors. But they do make exceptions for example the requirement that a sponsor must be domiciled in the US. The exception is that you can show intent to domicile in the US.  Soooo...I am thinking it might be possible to use your job offer by following the guidelines they write up when you want to use the intending immigrant's income.    It seems logical to me that if they would accept it from your UK spouse, it should apply to you as well if your job is from the same company, different office.

 

Can the Intending Immigrant Help Me Meet the Income Requirements?

If certain conditions are met, an intending immigrant’s income can help you meet the income requirement. If the intending immigrant is your spouse, his or her income can be included if it will continue from the same source after he or she obtains lawful permanent resident status.

If the intending immigrant is another relative, there are two requirements:

1. The income must be continuing from the same source after he or she obtains lawful permanent resident status; and

2. The intending immigrant must currently live with you in your residence.

Evidence must be provided to support both requirements, however, an intending immigrant whose income is being used to meet the income requirement does not need to complete Form I-864A, Contract Between Sponsor and Household Member, unless the intending immigrant has a spouse and/or children immigrating with him or her. In this instance, the contract relates to support for the spouse and/or children. (Page 11)