Resigned from Job

[Raja007 67]

Hello All,

 

I hope you all are doing well. I have a situation. I recently had to resign from my job in the USA and had to come back to Pakistan and I have to stay here for some time. Now my wife CR1 case is documantarily qualified and our consulate is Islamabad. Considering all the backlog I don't think her interview would come any time soon. Although I had submitted my 2020 tax return and My 2021 tax returns are ready to be presented at the time of interview. Now my concern is since I am out of job atm and by the time her interview will come it probably be in mid of 2023 so I probably would have to fill another AOS and have to show my tax return of 2022. My question is will my assets will be enough to prove financial stability like my 401k which has almost 40k in it. Then I have investment in stocks. I also have a property here in Pakistan worth 26000 dollars. Will all of it be enough Or do I still have to come up with a joint sponsor. I am also looking jobs to work remotely but so far no luck.

 

Thank you in advance.

 

 

[JeanneAdil 6,511]

1. did u naturalize? or is this F2a visa 

2. 401 k if taken out before age 59 1/2 acquires a 10% penality and taxes to be taken out (federal and state)  20% for federal (state unknown)

so now they are taking 8000 for federal and 4000 for the penatity leaving u with 30,000 minus state taxes

 

3.  only u know your investments so refer to the I 864 guidelines INSTRUCTIONS page 12  to figure this out 

 

4. don't forget the income exclusion and form 2555 when filing your US taxes for every year in Pakistan as we have a tax treaty with your country

 

[Mike E 11,739]

I think the CO will decide you need a joint sponsor 

[Raja007 67]

2 hours ago, JeanneAdil said:

1. did u naturalize? or is this F2a visa 

2. 401 k if taken out before age 59 1/2 acquires a 10% penality and taxes to be taken out (federal and state)  20% for federal (state unknown)

so now they are taking 8000 for federal and 4000 for the penatity leaving u with 30,000 minus state taxes

 

3.  only u know your investments so refer to the I 864 guidelines INSTRUCTIONS page 12  to figure this out 

 

4. don't forget the income exclusion and form 2555 when filing your US taxes for every year in Pakistan as we have a tax treaty with your country

 

Yes I did naturalize and now I am a citizen. And you are right about the penalty and deductions and my total investment in stocks in around 10k but considering the stock market situation it's also going downhill atm. And thank you for the information regarding form.2555.

2 hours ago, Mike E said:

I think the CO will decide you need a joint sponsor 

I see.  Thanks.

[Chancy 6,241]

*** Moved from NVC forum to IR1/CR1 Process & Procedures -- topic is not an NVC issue as OP's case is already DQ ***

 

[pushbrk 12,898]

6 hours ago, Raja007 said:

Yes I did naturalize and now I am a citizen. And you are right about the penalty and deductions and my total investment in stocks in around 10k but considering the stock market situation it's also going downhill atm. And thank you for the information regarding form.2555.

I see.  Thanks.

To qualify on assets, you would need 3X the income requirement in liquid assets.  The 401k is not fully liquid.  Sounds like you have just over 1X, not 3X.  You'll need a qualified joint sponsor or to get back to the USA and go to work.

[Raja007 67]

5 hours ago, pushbrk said:

To qualify on assets, you would need 3X the income requirement in liquid assets.  The 401k is not fully liquid.  Sounds like you have just over 1X, not 3X.  You'll need a qualified joint sponsor or to get back to the USA and go to work.

Thank you for your answer. Looks like I have to find a joint sponsor after all.

[Muhammad Ali1987 14]

may be things will improve in isb embassy and your wife interview letter will come in couple of months just like what india did almost finished the backlog in just two months.

[Raja007 67]

31 minutes ago, Muhammad Ali1987 said:

may be things will improve in isb embassy and your wife interview letter will come in couple of months just like what india did almost finished the backlog in just two months.

I really hope so bit considering the current speed of Islamabad embassy issuing interview letters it seems a far fetch dream.