Have 3 potential options for filing I-864 - unsure which is easiest (merged)

[throwaway129093 1]

Hi All,

 

I wanted to get some advice on which route to take regarding the I-864 document for IR-1 DCF filing.

The context is as follows:

Sponsor (USC) is going to Grad School in the US which is employer sponsored. The employer is also paying a $15000 stipend per year during this time

 

Assets are held in non-US account totally roughly 100,000 USD. This is currently in beneficiary's name due to taxation issues but can be moved into Sponsors account if needed

 

Sponsor parent is willing to act as a joint-sponsor and income more than meets minimum requirements

 

 

 

Our original plan was to just declare the stipend in the US income and then use assets for remaining requirements. This avoids bothering my in-law to be joint sponsor.

Now I'm thinking it might be better to file using only assets to avoid any confusion with the $15000 p/y stipend.

Our backup option would be to use Sponsors parent.

 

I have read a lot of stories about trying to make things easier for USC to approve, however given the above, I'm not sure which would qualify as "easier"?

Currently thinking of taking 3x forms with us to the interview (DCF so not submitting it online).

1. Using the stipend + assets

2. Using just assets

3. Using assets + joint sponsor

 

I'm not sure if we are failing to consider anything with the above? Any advice would be appreciated. Thanks

[dwheels76 5,468]

1 hour ago, throwaway129093 said:

Hi All,

 

I wanted to get some advice on which route to take regarding the I-864 document for IR-1 DCF filing.

The context is as follows:

Sponsor (USC) is going to Grad School in the US which is employer sponsored. The employer is also paying a $15000 stipend per year during this time

 

Assets are held in non-US account totally roughly 100,000 USD. This is currently in beneficiary's name due to taxation issues but can be moved into Sponsors account if needed

 

Sponsor parent is willing to act as a joint-sponsor and income more than meets minimum requirements

 

 

 

Our original plan was to just declare the stipend in the US income and then use assets for remaining requirements. This avoids bothering my in-law to be joint sponsor.

Now I'm thinking it might be better to file using only assets to avoid any confusion with the $15000 p/y stipend.

Our backup option would be to use Sponsors parent.

 

I have read a lot of stories about trying to make things easier for USC to approve, however given the above, I'm not sure which would qualify as "easier"?

Currently thinking of taking 3x forms with us to the interview (DCF so not submitting it online).

1. Using the stipend + assets

2. Using just assets

3. Using assets + joint sponsor

 

I'm not sure if we are failing to consider anything with the above? Any advice would be appreciated. Thanks

#2 is your best bet since it needs to be 3 times the income needed. So if it's just you two that's 24,650 X 3 you need in bank.
#1 I wouldn't use stipend since it's not income and is not permanent.
#3 is not an option because if using a joint sponsor it matters not whats assets you have. You use a joint sponsor because you don't meet the guidelines.

[pushbrk 12,870]

7 hours ago, dwheels76 said:

#2 is your best bet since it needs to be 3 times the income needed. So if it's just you two that's 24,650 X 3 you need in bank.
#1 I wouldn't use stipend since it's not income and is not permanent.
#3 is not an option because if using a joint sponsor it matters not whats assets you have. You use a joint sponsor because you don't meet the guidelines.

I tend to agree, but in a DCF situation,  you can also bring your employer's "letter etc." about the stipend to the interview and mention it.  Don't involve others unless really necessary.

[throwaway129093 1]

11 hours ago, pushbrk said:

I tend to agree, but in a DCF situation,  you can also bring your employer's "letter etc." about the stipend to the interview and mention it.  Don't involve others unless really necessary.

 

Thanks. Looks like using assets makes sense.

With regards to who's name the assets needs to be in, does it have to be in the sponsors name? As I mentioned in my OP, currently our assets are UK based and in my name to avoid tax complications for my SO.

Do I need to withdraw these and transfer them into the sponsors bank account? Unsure if I need to make one massive transferwise transfer into my sponsors US bank account and ideally we wouldnt rush to do this due to the transaction fees etc.

[pushbrk 12,870]

11 hours ago, throwaway129093 said:

 

Thanks. Looks like using assets makes sense.

With regards to who's name the assets needs to be in, does it have to be in the sponsors name? As I mentioned in my OP, currently our assets are UK based and in my name to avoid tax complications for my SO.

Do I need to withdraw these and transfer them into the sponsors bank account? Unsure if I need to make one massive transferwise transfer into my sponsors US bank account and ideally we wouldnt rush to do this due to the transaction fees etc.

Since you'll probably be transferring the liquid assets to the USA anyway, it could be a good idea to do that, but it is not required.  Have you studied the I-864 instructions and the form itself?  It's pretty clear how to use the beneficiary's assets.

[throwaway129093 1]

17 hours ago, pushbrk said:

Since you'll probably be transferring the liquid assets to the USA anyway, it could be a good idea to do that, but it is not required.  Have you studied the I-864 instructions and the form itself?  It's pretty clear how to use the beneficiary's assets.

Yes but I think reading other experiences here is where I was left confused.

Or can I put it into different terms:

If the assets are solely held in the beneficiary name, how is the beneficiary being sponsored?

My understanding was that the Sponsor has to show they can support the beneficiary which is why I was thinking the assets need to be in my USC spouses name as they are the sponsor.

 

Problem with transferring the liquid assets is more from an FX risk perspective as I like to transfer over X months to dollar cost average it.

But if I am simply able to show the assets are in my name as the beneficiary, and that they are liquid in my local currency which roughly adds to 5-6x the poverty line, that won't cause any issues?

 

[pushbrk 12,870]

6 hours ago, throwaway129093 said:

Yes but I think reading other experiences here is where I was left confused.

Or can I put it into different terms:

If the assets are solely held in the beneficiary name, how is the beneficiary being sponsored?

My understanding was that the Sponsor has to show they can support the beneficiary which is why I was thinking the assets need to be in my USC spouses name as they are the sponsor.

 

Problem with transferring the liquid assets is more from an FX risk perspective as I like to transfer over X months to dollar cost average it.

But if I am simply able to show the assets are in my name as the beneficiary, and that they are liquid in my local currency which roughly adds to 5-6x the poverty line, that won't cause any issues?

 

Read those instructions more carefully this time.  Like I said, the instructions are pretty clear how to use the beneficiary's assets.

Edited May 3, 2023 by pushbrk

[throwaway129093 1]

Hi folks,

I wanted to clarify best approach here regarding using assets only.

 

Our interview is in 2 weeks time and we are looking to use assets only due to no eligble income.

 

Currently our assets are split across multiple savings/checking/investment accounts.

 

I am being sponsored by a USC so require a minimum of 3x poverty line in assets.

I'll be using assets that are in my name (the immigrant) so will be filing it under the i-864a document.

Currently my assets are roughly split as follows:


Investment account : 87,000 USD (global tracker fund)

 

Savings account 1: 20,000 USD (instant access savings account - opened account last month to take advantage of higher yields)

Savings accounts 2, 3, 4: roughly 2000$ spread across these
 

Checking account 1: 5000 USD

Checking account 2: (Joint account with my sponsor): 15000 USD
 

 

Ideally, I want to make things as simple as possible from a documentation perspective.

 

Since I have my interview booked in, I was thinking of making life easier by liquidating the investment account 1 and consolidating all my finances so that it is split between a single checking and savings account. My worry however, is whether these large transactions will end up causing me more issues than if I were to just leave things as is?

My investment account has had roughly that amount in it for more than a year if that makes any difference?

Any advice would be wonderful.

Thanks

[Mike E 11,739]

55 minutes ago, throwaway129093 said:

Our interview is in 2 weeks

 

55 minutes ago, throwaway129093 said:

Since I have my interview booked in, I was thinking of making life easier by liquidating the investment account 1 and consolidating all my finances

 

55 minutes ago, throwaway129093 said:

My worry however, is whether these large transactions will end up causing me more issues than if I were to just leave things as is?

Yes I think doing this 2 weeks before your case will be damaging to your case, and I would, at best, expect an RFE and at worst, expect denial.

 

The time to do this was 6 months ago.

[Boiler 45,445]

Normally it is the Sponsors assets they will want to see.

[throwaway129093 1]

18 minutes ago, Mike E said:

 

 

Yes I think doing this 2 weeks before your case will be damaging to your case, and I would, at best, expect an RFE and at worst, expect denial.

 

The time to do this was 6 months ago.

 

So in that case would your recommendation be to leave everything in place, and provide documentation of all accounts?

Or do you think it makes sense to just provide the investment account + savings account that totals 100k USD and alone satisfies the 3x requirement?



We also have my in-law willing to act as a joint sponsor should the assets alone cause issues. We are a DCF application so are going to the interview with a second I-864A with our joint sponsor filled in. This would be acting as a back-up just in case.
 

Edited May 22, 2023 by throwaway129093

[throwaway129093 1]

3 minutes ago, Boiler said:

Normally it is the Sponsors assets they will want to see.

 

I was under the impression that the I-864a can be used to show that the sponsor has family members (including the target immigrant) who's assets can be used to sponsor?

From : https://travel.state.gov/content/travel/en/us-visas/immigrate/i-864-affidavit-faqs.html#aos16


 

Can the immigrant visa applicant count assets that he or she owns that are outside the United States, such as real estate or personal property?

Yes, under the following conditions:

• The assets must be convertible to cash within 12 months.
   
• The applicant must show that the assets can be removed from the country where they are located. Many countries have limits on cash or liquid assets that can removed from the country.
   
• The net value of assets must be at least five times the difference between the sponsor's income and 125 percent of the poverty guideline for the household size.

The visa applicant needs to file a Form I-864A to have his or her assets included in the minim

Edited May 22, 2023 by throwaway129093

[Boiler 45,445]

I know London are OK with beneficiaries assets for the I 134, been there done that. I 864 is somewhat different and will be interested to hear their response.

[Mike E 11,739]

25 minutes ago, throwaway129093 said:

So in that case would your recommendation be to leave everything in place, and provide documentation of all accounts?

Yes.

 

25 minutes ago, throwaway129093 said:

We also have my in-law willing to act as a joint sponsor should the assets alone cause issues

Yes keep that I-864 handy for the interview and use as the last resort.

Edited May 22, 2023 by Mike E

[throwaway129093 1]

2 minutes ago, Mike E said:

Yes.

 

Yes keep that I-864 handy for the interview and use as the last resort?

Got it. Just to be clear - is it better to provide just the two accounts that total the 100k USD as that meets the asset requirements?

Or am I expected to show every financial account with any funds in them? Would rather make things real simple instead of handing over like 10 sets of financial documents with some accounts having a few hundred in them.

Edited May 22, 2023 by throwaway129093