I-864 current income vs net savings/assets [merged threads]

[Sammy.NZ 45]

Hi team,

Okay so my questions is, when assessing adequate means of financial support, is current income the only factor or can you make a claim based on net savings and assets? 

My husband and I currently both live in NZ (beneficiary's home country) with full time incomes (both well over the $21,677 income requirement) - we will make moves to start looking for work in the U.S. before heading over but would like to move as soon as possible regardless of job security. We have healthy savings and we've also discussed taking our time to find new employment and maybe doing a bit of traveling around the U.S. before settling back into the ole 9 to 5. We are confident we can sustain ourselves through an unemployment gap and I'm not really looking to leave my husband to go secure work in the U.S. before he can join me.. so... thoughts?? If this is our plan (to potentially go over jobless and look for work after we've arrived) will we definitely have to get a joint sponsor or is there a way to prove self sufficiency with other financial evidence outside of current income. Seems silly to have to rely on joint sponsorship with plenty to keep ourselves afloat but I'm unsure how immigration will look at it.

 

Note: We are still waiting for I-130 approval (lodged Feb 2021) so have not begun filling out I-864, it's just been one of my worries and I wanted to get some thoughts now.

 

Cheers

Edited September 10, 2021 by TBoneTX

[HRQX 4,145]

25 minutes ago, Sammy.NZ said:

can you make a claim based on net savings and assets?

Yes, but it must be 3 times the Federal poverty line for your household size:

Quote

Significant assets. The sponsor may submit evidence of the sponsor's ownership of significant assets, such as savings accounts, stocks, bonds, certificates of deposit, real estate, or other assets. An intending immigrant may submit evidence of the intending immigrant's assets as a part of the affidavit of support, even if the intending immigrant is not required to sign an affidavit of support attachment. The assets of any person who has signed an affidavit of support attachment may also be considered in determining whether the assets are sufficient to meet this requirement. To qualify as “significant assets” the combined cash value of all the assets (the total value of the assets less any offsetting liabilities) must exceed:

(1) If the intending immigrant is the spouse or child of a United States citizen (and the child has reached his or her 18th birthday), three times the difference between the sponsor's household income and the Federal poverty line for the sponsor's household size (including all immigrants sponsored in any affidavit of support in force or submitted under this section);

(2) If the intending immigrant is an alien orphan who will be adopted in the United States after the alien orphan acquires permanent residence (or in whose case the parents will need to seek a formal recognition of a foreign adoption under the law of the State of the intending immigrant's proposed residence because at least one of the parents did not see the child before or during the adoption), and who will, as a result of the adoption or formal recognition of the foreign adoption, acquire citizenship under section 320 of the Act, the difference between the sponsor's household income and the Federal poverty line for the sponsor's household size (including all immigrants sponsored in any affidavit of support in force or submitted under this section);

(3) In all other cases, five times the difference between the sponsor's household income and the Federal poverty line for the sponsor's household size (including all immigrants sponsored in any affidavit of support in force or submitted under this section).

[Sammy.NZ 45]

@HRQX thank you ! This is really helpful

[Ryan H 3,812]

Moved from Progress Reports to Process & Procedures.

[pushbrk 12,824]

2 hours ago, Sammy.NZ said:

@HRQX thank you ! This is really helpful

Note that this is covered completely in the excellent I-864 instructions.  Best to become A-Students of those instructions and the form itself.

[carmel34 3,615]

12 hours ago, Sammy.NZ said:

We have healthy savings

If your savings are well over $65,000 US dollars, cash in the bank, you should be fine on the I-864 with assets alone.  Your incomes will not continue in the US, so you will either need sufficient liquid assets or a qualified joint sponsor.  If neither of those will work, you may have to return to the US a few months before your husband's visa interview, to establish a US-based income.  Also keep in mind that you will need to provide at least the most recent IRS tax return, and provide evidence of a US domicile or intent to re-establish a US domicile.  Good luck!

[EKT 117]

On 8/16/2021 at 11:47 AM, Sammy.NZ said:

If this is our plan (to potentially go over jobless and look for work after we've arrived) will we definitely have to get a joint sponsor or is there a way to prove self sufficiency with other financial evidence outside of current income.

 

Yes! We are planning to use our house value/savings to qualify but we also have a joint sponsor ready to bring to the interview just in case because I'm paranoid. We will eventually be interviewing in Auckland so I will let you know how it pans out. 

 

Definitely start pulling together your documents while you wait. We received our NVC case number pretty quickly after I-130 approval and then it took us a few weeks to submit everything because we weren't organised. Precious time!  Also recommend requesting your husband's police certificate now as it's not the normal police background check and the process can take a week or two: https://travel.state.gov/content/travel/en/us-visas/Visa-Reciprocity-and-Civil-Documents-by-Country/NewZealand.html Scroll to the bottom and have a look at the document requirement for NZ.

 

AND if you are providing your tax returns instead of IRS transcripts with the I-864, make sure you state in your cover/supporting letter that you do not have any US income and therefore have no W-2s/1099s. In our first review by NVC they sent us a stock standard request for my W-2/1099s for 2020 and we lost quite a bit of time for something that wasn't relevant to our case. 

[TWISTIE 30]

On 8/15/2021 at 8:33 PM, HRQX said:

Yes, but it must be 3 times the Federal poverty line for your household size:

Just wondering if they can use assets which are located outside the US to overcome this requirement? I am assuming OP has assets out the US, in NZ. By the way, I am asking petitioner’s assets (real estate) located outside the US, not beneficiary’s assets.

 

Also, how to get the value on a real estate assets located outside the US? 

 

Further, if OP would have some kind of income in the US but not enough what is required, and she wants to use her assets then she has to come up with only the difference of required income 3x, right? Difference, right? It is not like either you use income or use assets? Only one out these two? Both (income and assets) can be used to have required criteria- first the amount of income and then what is the difference left then 3x of that in the form of assets, am I right? For example- OP’s income is $20k but if required income should be $24k then she would need to come with only $12k, right? As $12k would the 3x difference of required income...3x is because asset are going to be used...

Edited August 23, 2021 by TWISTIE

[pushbrk 12,824]

Yes the 3x applies to the income shortfall.

[TWISTIE 30]

20 minutes ago, pushbrk said:

Yes the 3x applies to the income shortfall.

Tnx...but can foreign assets (property) of petitioner can be used? So far I read that beneficiary’s property at abroad could be used, but nowhere I found if petitioner’s or sponsor’s property at abroad could be used...

[pushbrk 12,824]

51 minutes ago, TWISTIE said:

Tnx...but can foreign assets (property) of petitioner can be used? So far I read that beneficiary’s property at abroad could be used, but nowhere I found if petitioner’s or sponsor’s property at abroad could be used...

Either or both can be used, but the real question is how they will be considered when making the judgment call.  Please read the I-864 instructions regarding the use of assets, with particular attention to the definition of "liquid assets".

[EKT 117]

On 8/24/2021 at 11:25 AM, TWISTIE said:

Just wondering if they can use assets which are located outside the US to overcome this requirement? I am assuming OP has assets out the US, in NZ. By the way, I am asking petitioner’s assets (real estate) located outside the US, not beneficiary’s assets.

 

Also, how to get the value on a real estate assets located outside the US? 

 

Yes. You need to get a full property valuation by a registered valuer and then I just used an online currency converter to determine the approximate value less real estate fees and our mortgage (provide any mortgage statements as evidence of this). I guess they will decide if this asset is liquid enough by evaluating the housing market for the country in question. The market is off the charts in NZ right now so I'm hoping they will accept ours.

 

I totalled our cash and property assets on the I-864.

[Sammy.NZ 45]

@EKT 

Thank you for the input ! So nice to hear from other kiwis. Are there any other documents I should be prepping / compiling other than basic identification documentation, police certificate & proof of liquid assets? I seriously need a checklist or something, I've found it so hard finding this info online and I'm trying my best to be prepared in advance.

 

Also, I just checked out your timeline and surprised by how quick y'alls has gone. We submitted 9 days after you and still waiting on the I-130 ! Good luck on the interview! So soon - fingers crossed level 4 won't delay you.

Edited August 25, 2021 by Sammy.NZ

[Chancy 6,241]

1 hour ago, Sammy.NZ said:

Are there any other documents I should be prepping / compiling other than basic identification documentation, police certificate & proof of liquid assets? I seriously need a checklist or something, I've found it so hard finding this info online and I'm trying my best to be prepared in advance.

 

Start with the I-864 form instructions -- https://www.uscis.gov/sites/default/files/document/forms/i-864instr.pdf

 

Required financial evidence and supporting documents -- https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-5-collect-financial-evidence-and-other-supporting-documents.html

 

Required civil documents -- https://travel.state.gov/content/travel/en/us-visas/immigrate/the-immigrant-visa-process/step-5-collect-financial-evidence-and-other-supporting-documents/step-7-collect-civil-documents.html

 

Details on acceptable civil documents from New Zealand -- https://travel.state.gov/content/travel/en/us-visas/Visa-Reciprocity-and-Civil-Documents-by-Country/NewZealand.html

 

[Samthemani 2]

On 8/15/2021 at 7:47 PM, Sammy.NZ said:

Hi team,

Okay so my questions is, when assessing adequate means of financial support, is current income the only factor or can you make a claim based on net savings and assets? 

My husband and I currently both live in NZ (beneficiary's home country) with full time incomes (both well over the $21,677 income requirement) - we will make moves to start looking for work in the U.S. before heading over but would like to move as soon as possible regardless of job security. We have healthy savings and we've also discussed taking our time to find new employment and maybe doing a bit of traveling around the U.S. before settling back into the ole 9 to 5. We are confident we can sustain ourselves through an unemployment gap and I'm not really looking to leave my husband to go secure work in the U.S. before he can join me.. so... thoughts?? If this is our plan (to potentially go over jobless and look for work after we've arrived) will we definitely have to get a joint sponsor or is there a way to prove self sufficiency with other financial evidence outside of current income. Seems silly to have to rely on joint sponsorship with plenty to keep ourselves afloat but I'm unsure how immigration will look at it.

 

Note: We are still waiting for I-130 approval (lodged Feb 2021) so have not begun filling out I-864, it's just been one of my worries and I wanted to get some thoughts now.

 

Cheers

I had a similar question here. There was some good advice which recommended to file the form online based on assets, but bring a joint sponsor form to the interview as a backup. This is how we intend to approach it