Using 401K as evidence of assets
Aug 15th 2017, 6:45 pm
#1
Forum Regular
Thread Starter
Joined: Oct 2012
Posts: 35
Using 401K as evidence of assets
Hi,
There's a lot of info on the internet that suggests a 401K can be used towards a sponsor's assets on a CR1 visa, but also a lot that says it's largely down to the discretion of the consular officer on the day. However I can't find anything definitive, or to suggest anyone has actually tried it and been successful at interview. So my question is, HAS anyone?
My situation is that my US spouse wife, dual-cit son and I live in the UK & I have an approved I-130. We have $52,000 in cash savings in our joint US account (an inheritance from her dad passing away). My wife works here & has a legitimate job offer in the US with salary of $85,000, transferring permanently to the the Orlando office of her UK employer.
I'm about to schedule my medical and interview but wanted to know how realistic my chances are of approval. We're $24,575 short of the £76,575 needed to meet poverty guidelines using just our cash savings. But together with my wife's 401K which has a cash-in value of $49,000 (after allowing for early surrender fee & federal taxes) we easily exceed the amount required.
A joint sponsor isn't an option for us, so we're really pinning everything on our assets and the job offer.
Any thoughts?
There's a lot of info on the internet that suggests a 401K can be used towards a sponsor's assets on a CR1 visa, but also a lot that says it's largely down to the discretion of the consular officer on the day. However I can't find anything definitive, or to suggest anyone has actually tried it and been successful at interview. So my question is, HAS anyone?
My situation is that my US spouse wife, dual-cit son and I live in the UK & I have an approved I-130. We have $52,000 in cash savings in our joint US account (an inheritance from her dad passing away). My wife works here & has a legitimate job offer in the US with salary of $85,000, transferring permanently to the the Orlando office of her UK employer.
I'm about to schedule my medical and interview but wanted to know how realistic my chances are of approval. We're $24,575 short of the £76,575 needed to meet poverty guidelines using just our cash savings. But together with my wife's 401K which has a cash-in value of $49,000 (after allowing for early surrender fee & federal taxes) we easily exceed the amount required.
A joint sponsor isn't an option for us, so we're really pinning everything on our assets and the job offer.
Any thoughts?
Last edited by jezza1000; Aug 15th 2017 at 6:52 pm.
Aug 15th 2017, 6:55 pm
#2
Concierge
Joined: Apr 2001
Posts: 46,407
Re: Using 401K as evidence of assets
I don't know why you deleted your original post as it would have been easily transferred by a moderator. I have asked that the thread you started in the immigration section be permanently deleted.
Here is my reply to your original post. And yes, you can use the 401K. It is NOT at the discretion of the examiner but has been used by many without fail or question.
"The officer cannot take a pragmatic view. You either can fulfill the criteria or you can't. Assets are usable, i.e. private retirement funds. The money must be obtainable within one year in order to qualify. If she is able to get a letter from her employer, on company letterhead, outlining her position of employment in the US, the annual salary and the start date, that will be most helpful.
I don't know why you are using British pounds since all your assets are in US Dollars and the guidelines are in US Dollars. So you have $52,000 plus $49,000 = $101,000. You are over the guidelines for a family of three."
__________________
Here is my reply to your original post. And yes, you can use the 401K. It is NOT at the discretion of the examiner but has been used by many without fail or question.
"The officer cannot take a pragmatic view. You either can fulfill the criteria or you can't. Assets are usable, i.e. private retirement funds. The money must be obtainable within one year in order to qualify. If she is able to get a letter from her employer, on company letterhead, outlining her position of employment in the US, the annual salary and the start date, that will be most helpful.
I don't know why you are using British pounds since all your assets are in US Dollars and the guidelines are in US Dollars. So you have $52,000 plus $49,000 = $101,000. You are over the guidelines for a family of three."
__________________
Aug 15th 2017, 6:58 pm
#3
Concierge
Joined: Apr 2001
Posts: 46,407
Re: Using 401K as evidence of assets
Just so that others know, the OP has asked the same question back in June.
http://britishexpats.com/forum/marri...assets-898432/
http://britishexpats.com/forum/marri...assets-898432/
Aug 15th 2017, 6:59 pm
#4
MODERATOR
Joined: Apr 2003
Location: Phoenix, Arizona
Posts: 58,679
Re: Using 401K as evidence of assets
Your wife's transfer of income from the same source can be used. Assets can also be used, including 401K.
Rene
Rene
Aug 15th 2017, 7:03 pm
#5
Forum Regular
Thread Starter
Joined: Oct 2012
Posts: 35
Re: Using 401K as evidence of assets
Rete - thanks for your reply but no it's NOT the same post. If you read my new one you'll see that my circumstances have changed. My wife has now secured a job in the US and quite importantly it's on a transfer basis. So if there are any rules on reposting in this situation, then this isn't a particularly useful forum.
Rene - thanks for your reply, I appreciate it.
Rene - thanks for your reply, I appreciate it.
