Psychosleftpeg

Hi guys

I need some urgent advise. My wife (USC) sent the I-130 to London 2 months ago (DCF) but we’ve hit a snag. My in-laws have said right from the beginning that they had the savings to be a joint sponsor and that there would be no issues with them being able to pulls the funds right away without penalty – the savings they would need is around $118’000 due to the fact that they’re retied and the household size. After a conversation my wife had with her parents today it has transpired that actually they have $90’000 in an IRA that can be pulled right away and they also have $30’000 of CD’s (which I think are government bond types things) which can only be pulled immediately with a fee. This means, if I understand right, that they don’t qualify as they don’t have the total money readily available to sponsor me.

This has come as a huge blow but I have 3 ideas, 2 that may not work but 1 that might.

1) My brother-in-law, who lives with my FIL, could also sponsor us as a household member. This however probably wont work because I doubt he has $30’000 saved and he doesn’t work.

2Get another joint sponsor. This is going to be tough because I just cant think of anyone else who would have this kind of money.

3) Although my FIL doesn’t have the money to be the joint sponsor he would have the money that my wife would need to be my sole sponsor and this money could be put into het checking account. Is this acceptable? I can see issues with it, the main one being that it is a one off payment.

I see no other way around it – can anyone possibly help with this? Does anyone have any advice?

IR1 alumni

Do the parents not have an income? It is often easier to qualify with income rather than assets.

Psychosleftpeg

Unfortunately not. My FIL is retired and my MIL has MS. They have no income whatsoever.

ian-mstm

To qualify, the assets have to be liquidable within one year. That there's a fee attached to the asset upon withdrawal is irrelevant. I don't see that you have an issue.

Ian

Psychosleftpeg

Ok, so as long as they can liquidate the CD's over the course of 12 months there is no reason why the funds cant qualify?

The only reason that I mention the fee is because my understanding was that not only do the assets needs to be liquidable within a year but that also the joint sponsor has to be able to do this without burdening themselves. If they have to pay a fee then thats an additional burden.

I have a further question. Now that I know that my FIL has $120'000 and the amount needed is $118'000 I now feel a sense of urgency because they are only $2000 over the amount, which isnt a lot. If I get them to send the necassary proof now that they have these savings will the evidence still be valid if I dont have my interview until, say, August?

Noorah101

It should be "without undue hardship to the sponsor". Depends I guess on how much the fee would be, and how much of a hardship it would be on them to pay the fee, etc. If they are still willing to be joint sponsor, I also don't see a huge issue with this scenario. I think they will still qualify as joint sponsor.

As long as they are over the amount, they are fine. $2,000 over the required amount is a good thing.

Personally, I would have proof that is dated closer to when your interview will be. The closer the better. Otherwise you risk the ConOff asking for more current proof. If you expect your interview in August, have them send you their I-864 package in July.

Rene

jeffreyhy

Maybe, maybe not. It will depend a lot on which way the markets move between now and then. $2,000 isn't a very big margin, it could easily disappear.

I'm also concerned that the amount needed to sponsor you is apparently equivalent to your in-law's entire nest egg, and they're retired? I don't know what a consular officer would think of this, but it seems to me that sponsoring you has the potential to turn them into street people. I know that's not your intention, but reality can sometimes do a serious number on intentions.

Also, being that they are retired, is this IRA providing any of their income?

Regards, JEff

ian-mstm

I have several CD and while mine may not be like there's, the fee associated with taking out money is usually in the form of an interest penalty... not actual money they need to pay out of pocket. Regardless, the principal amount will always be recoverable.

Ian

Psychosleftpeg

Yes, I know what you both mean. That was one of my concerns but it is my understanding now that they do have other accounts (checking accounts etc) that they use and this nest egg is more or less untouched, so I believe that the amount will still be there is a couple of months. We have spelt out what we need from them so that they understand what they are committing to and they say they can do it.

As for that, I suppose that will be down to the officer. You are right; if the worst case scenario happens and they have to give up these funds then they would end up with nothing to live on. I can only hope that because the USCIS themselves made these guidelines and my FIL can meet the requirements that the USCIS set out that they can’t turn around and say to us that their savings are not enough. They would be contradicting themselves. That’s what I’m hoping anyway.

I honestly dont know. I had never heard of an IRA until recently but I will find out.

jeffreyhy

USCIS guidelines implement requirements that are written in the law. They are not entirely the invention of USCIS.

Whether it's guideline or law, one of the issues is that the assets must be able to be turned "converted to cash within one year without undue harm to the sponsor or his or her family members." (the emphasis is mine)

Given the admittedly superficial information that you've presented about your inlaws financial situation, it seems quite possible to me that their retirement savings may not 'pass the test' and could possibly be disallowed. There is no contradiction in this possibility.

Regards, JEff

Psychosleftpeg

Ok, that makes sense. So would it be fair to say that it comes down to the Officers opinion on the day of the interview?

Just out of curiosity, is there anyone else out there who has only just been able to prove that they have the minimum financial requirements? If so, what was your experience?