Joint sponsor clarifications

[mr-t-bone 0]

Hi folks,

 

Could you please help me understand the following? 

 

The required income calculation for our sponsor required annual income is $59K (household of 4 (state: FL) + 3 immigrants).

 

Our 1st joint sponsor has u.s domicile and they reported 50K on AVG on their last 3 tax returns. But this year they can report 80K on their current income.

 

Our 2nd joint sponsor (the petitioner and spouse) has to prove plans to re-establish domicile. And has 3X the required income in a U.S Bank account for more than 12 months.  Earns more than enough in Annual income but it is foreign self-employed earning.

 

Would this be sufficient and satisfy the financial requirement for the IR1 visa applicants? 

 

Much much thanks in advance!

 

 

[OldUser 7,003]

Each joint sponsor should be eligible on their own. You cannot combine / stack joint sponsor's incomes.

[mr-t-bone 0]

 

Each joint sponsor should be eligible on their own. You cannot combine / stack joint sponsor's incomes.

 

thanks for the prompt reply,

 

Do you think our 1st joint sponsor, claiming this year income as 80K will qualify ?  Any specific proof he will need to show that his income has increased (self-employeed so no W2s unfortunately) 

 

 

 

 

[pushbrk 13,000]

4 hours ago, mr-t-bone said:

 

thanks for the prompt reply,

 

Do you think our 1st joint sponsor, claiming this year income as 80K will qualify ?  Any specific proof he will need to show that his income has increased (self-employeed so no W2s unfortunately) 

 

 

 

 

Quite possible if he can document what he is claiming as employment income with a current pay stub.

[mr-t-bone 0]

On 8/19/2024 at 2:39 AM, pushbrk said:

Quite possible if he can document what he is claiming as employment income with a current pay stub.

 

Any idea how self-employed will show proof that his income increased?

 

if he has saving accounts with the additional funds, will he need to show proof as well?  

 

thanks in advance!

[pushbrk 13,000]

20 minutes ago, mr-t-bone said:

 

Any idea how self-employed will show proof that his income increased?

 

if he has saving accounts with the additional funds, will he need to show proof as well?  

 

thanks in advance!

The self employed use the "total income" line of their most recent tax return, as evidence of current income.  This is because it is only "revenue" not "income" until it shows on the tax return after subtracting applicable business expenses.  For business, "income" is revenue minus business expenses.  If your prospective joint sponsor is self employed, their income hasn't increased yet.

[mr-t-bone 0]

7 minutes ago, pushbrk said:

The self employed use the "total income" line of their most recent tax return, as evidence of current income.  This is because it is only "revenue" not "income" until it shows on the tax return after subtracting applicable business expenses.  For business, "income" is revenue minus business expenses.  If your prospective joint sponsor is self employed, their income hasn't increased yet.

 

You have been so helpful pushbrk, i really am thankful for your help and explanations. 

 

Our sponsor is 9K short in last year reported income to qualify as the sponsor for the 3 intended immigrants.

 

Perhaps you have an idea how we can help add the missing 9K revenue...

 

What about this option?  A foreign saving account with the funds, but it has to be 3 different accounts with 3x9K$ on each immigrant name? 

 

 

 

any other ideas? 

 

regards

 

 

 

[pushbrk 13,000]

Just now, mr-t-bone said:

 

You have been so helpful pushbrk, i really am thankful for your help and explanations. 

 

Our sponsor is 9K short in last year reported income to qualify as the sponsor for the 3 intended immigrants.

 

Perhaps you have an idea how we can help add the missing 9K revenue...

 

What about this option?  A foreign saving account with the funds, but it has to be 3 different accounts with 3x9K$ on each immigrant name? 

 

 

 

any other ideas? 

 

regards

 

 

 

No, you cannot contrive evidence.  Also, it takes five dollars in liquid assets to cover one dollar of income shortfall.  Secondly, just meeting the minimum doesn't cut it.  The combination of income and liquid assets should be comfortably over the minimum.  You'll need a joint sponsor who is actually qualified.  Liquid assets are in the sponsor's name.  The number of accounts is not an issue.  This is all about a Consular Officer being confident the immigrants will not become public charges.

[pushbrk 13,000]

On 8/19/2024 at 2:48 AM, mr-t-bone said:

Hi folks,

 

Could you please help me understand the following? 

 

The required income calculation for our sponsor required annual income is $59K (household of 4 (state: FL) + 3 immigrants).

 

Our 1st joint sponsor has u.s domicile and they reported 50K on AVG on their last 3 tax returns. But this year they can report 80K on their current income.

 

Our 2nd joint sponsor (the petitioner and spouse) has to prove plans to re-establish domicile. And has 3X the required income in a U.S Bank account for more than 12 months.  Earns more than enough in Annual income but it is foreign self-employed earning.

 

Would this be sufficient and satisfy the financial requirement for the IR1 visa applicants? 

 

Much much thanks in advance!

 

 

See bold above.  The petitioner is the primary sponsor, not a joint sponsor.  The petitioner is going to have to provide evidence they intend to re-establish US domicile regardless.  Sounds like a spouse and two children.  If the petitioner has comfortably more then 3 times the liquid assets, they don't need a joint sponsor.  "Assets" sit in bank accounts, not "income".  Is this a spouse and two step children of the petitioner?

[mr-t-bone 0]

18 hours ago, pushbrk said:

See bold above.  The petitioner is the primary sponsor, not a joint sponsor.  The petitioner is going to have to provide evidence they intend to re-establish US domicile regardless.  Sounds like a spouse and two children.  If the petitioner has comfortably more then 3 times the liquid assets, they don't need a joint sponsor.  "Assets" sit in bank accounts, not "income".  Is this a spouse and two step children of the petitioner?

 

Exactly, the applicants are the spouse and 2 step-children of the petitioner. Petitioner will be the sponsor as you wrote.   I wonder, is it 3 times the required income for how many years? The first year? 3 Years for the spouse and 5 for the children?

 

Should he get a notarized letter from the US bank showing the funds are there, and has been there for the last 12 months?

 

Thank again for your assistance and feedback, you are awesome!

 

 MR T-Bone

[pushbrk 13,000]

4 hours ago, mr-t-bone said:

 

Exactly, the applicants are the spouse and 2 step-children of the petitioner. Petitioner will be the sponsor as you wrote.   I wonder, is it 3 times the required income for how many years? The first year? 3 Years for the spouse and 5 for the children?

 

Should he get a notarized letter from the US bank showing the funds are there, and has been there for the last 12 months?

 

Thank again for your assistance and feedback, you are awesome!

 

 MR T-Bone

Since there are two children, best to have 5 times the income requirement in liquid assets.  Four regular statements spread over a year will be evidence enough.  Notary is useless for this.