Submitting Assets with I-864 when the Qualifying Income is slightly above the Required Amount

[SNAVegas 7]

If your Current Income is just slightly above the minimum  required  Poverty Guidelines can providing the Assets proactively on the I-864 Form alongwith the supporting proof of ownership of those assets be helpful  in theTotality of Circumstances when adjudicated by the Counselor Office & especially if the option for an additional Sponsor is not available ?

I am aware that the Assets should be liquid or Convertible to cash without causing the Sponsor undue hardship.

A Primary Residence does NOT count & neither does an Automobile ownership if it is the only one.

 

I am a Retiree & have Liquid Cash in Checking/Savings plus an IRA with Stocks/ CD & a substantial liquid cash position in this account. 

My Primary residence may not count but I own it Free & Clear & have proof of such ownership via the Deed & a Report from a Title company. ( Helpful in that i have no mortgage or Rent expense each month)

So in other words will it do any harm to submit these upfront alongwith the original submission as opposed to being asked by the Counselor Offficer at the Interview  to provide proof of Assets in addition to the  Current Income if they deem it borderline? 

 

Does anyone on Visa Journey have experience with this or of providing Assets succesfully ? 

 

Edited September 25, 2020 by SNAVegas
Entered same sentence twice

[pushbrk 13,172]

You absolutely can add assets and document them.  That's why that section is on the form.  There is no point in submitting and documenting the equity in your home though.  Stating your balance in checking and savings, and documenting it with statements is good.  On a separate line you would state and document your IRA and any other stocks Etc.  Doing so will help demonstrate you have sufficient resources to support you and your spouse.

[Nitas_man 3,100]

Exactly what I did and the items you exclude (home and vehicle) are appropriately excluded.

 

I filed on (zero) income and nothing but assets as we lived overseas and overseas income was not counted.

 

You should be fine.

[SNAVegas 7]

19 hours ago, Nitas_man said:

Exactly what I did and the items you exclude (home and vehicle) are appropriately excluded.

 

I filed on (zero) income and nothing but assets as we lived overseas and overseas income was not counted.

 

You should be fine.

Thank you kindly for your response. In  my case i do qualify based on  my Current Income ( Social Security & a Pension from a private company)  but wish to add Assets is a precautionary / preemptive step in case they question my Income as being just a few thousand above the minimum. Thank you again

[SNAVegas 7]

20 hours ago, pushbrk said:

You absolutely can add assets and document them.  That's why that section is on the form.  There is no point in submitting and documenting the equity in your home though.  Stating your balance in checking and savings, and documenting it with statements is good.  On a separate line you would state and document your IRA and any other stocks Etc.  Doing so will help demonstrate you have sufficient resources to support you and your spouse.

Thank you kindly for your reply. Yes, I agree with you BUT  The reason I had asked the question was because in reading the Instructions line by line & item by item it states exactly:

Part 7 . Use of Assets to supplement Income ( Optional)

Only Complete Part 7 If you need to use the value of assets to meet the Income Requirements.If your current annual Household Income is equal to or more than needed to meet the Income Requirement as shown by the Current Poverty Guidelines for your household size then you DO NOT NEED  to complete Part 7.

AND THAT WAS WHY I ASKED THE QUESTION ON VISA JOURNEY...

In my case the required minimum is $ 21,550 for a 2 person household. My Current income for 2020 will be $25,404. So i just wanted to show assets as well. No I don't have millions (LOL) but have a couple of hundred thousand in liquid available cash/stocks/CD's 

[pushbrk 13,172]

2 hours ago, SNAVegas said:

Thank you kindly for your reply. Yes, I agree with you BUT  The reason I had asked the question was because in reading the Instructions line by line & item by item it states exactly:

Part 7 . Use of Assets to supplement Income ( Optional)

Only Complete Part 7 If you need to use the value of assets to meet the Income Requirements.If your current annual Household Income is equal to or more than needed to meet the Income Requirement as shown by the Current Poverty Guidelines for your household size then you DO NOT NEED  to complete Part 7.

AND THAT WAS WHY I ASKED THE QUESTION ON VISA JOURNEY...

In my case the required minimum is $ 21,550 for a 2 person household. My Current income for 2020 will be $25,404. So i just wanted to show assets as well. No I don't have millions (LOL) but have a couple of hundred thousand in liquid available cash/stocks/CD's 

Your question and reason for asking were understood.  Hopefully, the answer was clear as well.

[Nitas_man 3,100]

7 hours ago, SNAVegas said:

Thank you kindly for your response. In  my case i do qualify based on  my Current Income ( Social Security & a Pension from a private company)  but wish to add Assets is a precautionary / preemptive step in case they question my Income as being just a few thousand above the minimum. Thank you again

So much the better.  Best of luck to you folks!

They likely will ask about plans for health insurance, might want to have your beneficiary prepped by showing up with a plan for that.  We raised eyebrows a little with COBRA for immediate relo but had a backup plan to show our options to switch to longer term coverage for our family (exchange and exchange plans) once we returned to the US and got settled in.  Didnt ever use the exchange, but still.

[SNAVegas 7]

4 hours ago, Nitas_man said:

So much the better.  Best of luck to you folks!

They likely will ask about plans for health insurance, might want to have your beneficiary prepped by showing up with a plan for that.  We raised eyebrows a little with COBRA for immediate relo but had a backup plan to show our options to switch to longer term coverage for our family (exchange and exchange plans) once we returned to the US and got settled in.  Didnt ever use the exchange, but still.

Thank  you for your words of encouragement. Yes, I will keep the Insurance situation in mind.

When you mention your back up plan for health Insurance "Exchange & Exchange Plans" do you mean the Affordable Care Act Market Place Exchange Plans ? And how long ago was your Interview ?