Question regarding K1 Affidavit of Support

[Angela & Brendon 160]

I have my interview in 10 days, for affidavit of support my fiancée is at Business School so we can't use her job for that, however she does have some assets (some inheritance money, 401k, IRAs) which total to be about $250k+. Does anyone have any idea if this would be enough to show she has the funds available to sponsor me? Or would we still need to get an employed relative to be a co-sponsor (which isn't a problem, we simply thought about going with the former because we already have that information on hand)? Thanks all!

Edited January 2, 2021 by Angela & Brendon

[Greenbaum 12,259]

11 minutes ago, Angela & Brendon said:

I have my interview in 10 days, for affidavit of support my fiancée is at Business School so we can't use her job for that, however she does have some assets (some inheritance money, 401k, IRAs) which total to be about $250k+. Does anyone have any idea if this would be enough to show she has the funds available to sponsor me? Or would we still need to get an employed relative to be a co-sponsor (which isn't a problem, we simply thought about going with the former because we already have that information on hand)? Thanks all!

I have this FAQ that addresses this. Other than this information I personally don't have any experience with assets to support a visa request. I hope it's a good place to start your search for an answer. Good luck and stay engaged in the process. 

 

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.

[Angela & Brendon 160]

4 minutes ago, Greenbaum said:

I have this FAQ that addresses this. Other than this information I personally don't have any experience with assets to support a visa request. I hope it's a good place to start your search for an answer. Good luck and stay engaged in the process. 

 

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.

Thank you very much!

[JFH 12,190]

London also allows self-sponsoring if you have sufficient assets of your own. 

[Wuozopo 4,293]

@Angela & Brendon

 

London is usually quite easy and flexible with K1 affidavits of support. Officers are not compelled by law to require specific things and only need to be convinced that the beneficiary will not become a public charge. London has historically not even required a tax return with the Affidavit of support if other proofs of income or assets are provided. 

 

Complete the assets portion of the I-134 and provide the most recent statements showing those assets. Keep in mind that retirement plans are not really easily convertible to cash because of penalty for early withdrawals, but they do paint an overall picture of the petitioner’s financials and would serve to convince a London officer that you would not become a public charge. It is a subjective decision. If you the beneficiary have cash assets, then make a spreadsheet of where and how much and provide the most recent statements. That too would help convince an officer and has been done in London before. Oftentimes a discussion of the I-134 does not even come up at the interview if your paperwork (presented first to a document collector) looks good. You can also have a joint sponsor’s I-134 and proof of income in your back pocket to provide (to the officer, not the first document collector) in case your fiancé’s is questioned. 
 

Keep in mind that when you adjust status in the US there is another affidavit of support (I-864) which has stricter requirements written in immigration law. You may require a joint sponsor for that unless your combined cash assets total 3x the poverty guidelines. 
 

 

Edited January 2, 2021 by Wuozopo

[Ryan H 3,812]

Moved from Progress Reports to Process & Procedures.