Using Foreign Spouse’s Assets for I-864?

[Ellxtdan 95]

Hello! So my husband and I haven’t been approved for the I130 yet, but we wanted to get a head start on paperwork for the NVC stage.
 

I am currently a full-time student and am only working part time. I do not make enough to meet the minimum amount needed to sponsor my husband for form I864. However, he has assets that equal approximately 6x the deficit. His assets are liquid (money in his savings account). I also have roughly $10k in my own account. Will this combination of my income and our assets be sufficient? I have read on past posts that people still recommend getting a joint sponsor despite having enough assets, so any thoughts would be appreciated!

 

[Just Paul 4,595]

7 minutes ago, Ellxtdan said:

Hello! So my husband and I haven’t been approved for the I130 yet, but we wanted to get a head start on paperwork for the NVC stage.
 

I am currently a full-time student and am only working part time. I do not make enough to meet the minimum amount needed to sponsor my husband for form I864. However, he has assets that equal approximately 6x the deficit. His assets are liquid (money in his savings account). I also have roughly $10k in my own account. Will this combination of my income and our assets be sufficient? I have read on past posts that people still recommend getting a joint sponsor despite having enough assets, so any thoughts would be appreciated!

 

If his assets exceed 3x the annual amount in I-864P (for 2 people) you should be fine. 

[Ryan H 3,812]

Moved from Progress Reports to Process & Procedures.

[pushbrk 12,878]

On 1/21/2020 at 10:27 PM, Paul & Mary said:

If his assets exceed 3x the annual amount in I-864P (for 2 people) you should be fine. 

Agreed, though it helps to be comfortably over the minimum.

[Hank_ 9,174]

Foreign assets are OK ???   Hmm

[pushbrk 12,878]

12 hours ago, Hank_ said:

Foreign assets are OK ???   Hmm

Foreign assets that are "liquid" are certainly ok.  The OP says they are liquid.  Non-liquid assets are useless.

[T&S_MTL 113]

14 hours ago, pushbrk said:

Foreign assets that are "liquid" are certainly ok.  The OP says they are liquid.  Non-liquid assets are useless.

Are investment accounts with stocks/bonds, and Canadian RRSP (retirement plan account, equivalent to 401k) considered liquid ?

[pushbrk 12,878]

8 hours ago, Tom & Steph said:

Are investment accounts with stocks/bonds, and Canadian RRSP (retirement plan account, equivalent to 401k) considered liquid ?

How liquid they would be considered would depend on a few things, like the age of the person.  For example, for a 40 year old to dip into such an account to 20+ thousand a year for three years, would definitely do harm to their future retirement and there would be tax penalties for early withdrawals. At the very least, the value must be discounted due to the taxes and penalties for early withdrawal.

[T&S_MTL 113]

On 1/26/2020 at 5:33 PM, pushbrk said:

How liquid they would be considered would depend on a few things, like the age of the person.  For example, for a 40 year old to dip into such an account to 20+ thousand a year for three years, would definitely do harm to their future retirement and there would be tax penalties for early withdrawals. At the very least, the value must be discounted due to the taxes and penalties for early withdrawal.

What I actually don't understand is that the goal here is to make sure the beneficiary (me) won't have to rely on the government. So using immigrant's foreign assets for I-864 is basically listing liquid enough assets in order to be compliant ?

 

My question is more like is using those assets for immigration implies more than that ? Because I'll be able to work as soon as I get my SSN, and we'll be leaving at my parents in law's place for a few months. I also don't intend to move any of that money to the US in the first place.

 

Thanks

Edited January 29, 2020 by Tom & Steph

[pushbrk 12,878]

Just now, Tom & Steph said:

What I actually don't understand is that the goal here is to make sure the beneficiary (me) won't have to rely on the government. So using immigrant's foreign assets for I-864 is basically listing liquid enough assets in order to be compliant ?

 

My question is more like is using those assets for immigration implies more than that ? Because I'll be able to work as soon as I get my SSN, and we'll be leaving at my parents in law's place for a few months.

 

Thanks

Consular Officers consider the totality of circumstances including the immigrant spouse's employability but you still have to have either qualifying income or liquid assets enough to qualify.

[T&S_MTL 113]

1 hour ago, pushbrk said:

Consular Officers consider the totality of circumstances including the immigrant spouse's employability but you still have to have either qualifying income or liquid assets enough to qualify.

Ok that's good to know! Thank you.

 

Actually my wife and I are living / earning money outside the US. She won't be able to sponsor me (since not eligible) and we don't want to co sponsor; could we rely entirely on my assets then (5 times the amount for a household of 2 people since her income will be 0$ on the I-864) ?

Edited January 30, 2020 by Tom & Steph

[T&S_MTL 113]

EDIT: I read the I-864 instructions in depth  and it looks like it's fine, there is no limitation. It's 3 times the difference when a USC is sponsoring a spouse though.