Poseidon

Sorry if you've seen this already - I posted it on the general visa board without realising this board existed!

I am working here in the US on a contract that will soon expire. My USC wife is sponsoring me for a green card, but her salary is a little short of the 125% of the poverty guideline requirement and neither of us have much in the bank. However, my 401k from work is more than enough to cover 3x the difference. Can I use this as an asset to support my application?

Noorah101

Can your 401K be liquidated to cash within one year? If so, it can be used. If not (like mine is not, it's a retirement fund only), then no.

But since you are working, your own income can also be used on the I-864, so perhaps the combination of your wife's salary plus your salary would equal the 125% that you need?

Rene

Poseidon

Unfortunately, my contract expires in a few months, and you can only add your own income if it still comes from the same source once you get the green card. I have applied for a grant which will fund me for several more years, but I won't hear the decision until Xmas, and even then I have no way of predicting if I get it or not.

Once my current contract ends and I leave my employer, I would have full access to the 401K (less 10%).

Noorah101

I don't think this is true.

I would say, have you wife do an I-864 using your combined income as it is today. To my knowledge that only has to be true on the day she signs the I-864 saying all the information is true.

Then, when it comes time for your AOS interview, if you have cashed out your 401K and it's enough money (assets have to equal 3x the amount you would have needed in income), then bring an updated I-864 to your interview, showing the change in income/assets. Or, if you have another job by then, an updated I-864 to reflect that.

Rene

Michael

Less 10% plus federal and state income taxes.

ian-mstm

Not true. Rene is correct. You are allowed to file with the employment you have now and, at your AOS interview, present an updated I-864 to reflect the new employment.

Ian

Rete

Not true. It must be valid at the time of the signing and submission of the I-864. If circumstances change at the time of the interview then a new I-864 can be submitted to substitute the old one.

Poseidon

Thanks to everyone for their helpful replies. I really had my hopes up for a while, but was brought back down to earth with a bump when I read my wife's I864 in more detail and found the following statement;

"If you are using income of persons in your household to qualify, you must include proof that the intending immigrant's current employment will continue from the same source if his or her income is being used"

My job will end in 6 weeks, and while I am reasonably optimistic of finding work in the same department in some capacity, I can't 'prove' that I will have money coming in.

However, I feel OK about using the 401K - I have checked and I am allowed to make withdrawals, or even cash the whole thing in if I can't find any work or my EAD takes a long time to come through.

Noorah101

No one, not even a USC, can prove that money will continue to come in. Even a USC could lose their job tomorrow.

I believe that part you quoted is if the intending immigrant is outside the USA. In that case, the income much continue from the same source once the immigrant is inside the USA. My belieif is that you are already inside the USA and working, your income can still be used.

Rene

jeffreyhy

P,

Just recognize, as some other posters have already pointed out, that a significant amount of the 401k money will go to the US government, not to you.

Regards, JEff

ian-mstm

Nor can anyone. The I-864 must be correct on the *DAY* it is filed. What happens a few months down the road afterwards is irrelevant... and when your interview is scheduled, you bring an updated I-864.

We're not just making up this stuff as we go along... we've all been through the process.

Ian

jmood

Hi all,
You'll remember I fussed and obsessed about covering all bases for our I864 with my UK assets as my husband's job had changed since original filing and also because it was commisiion only and it was new so we had nothing to show for it.

Well, in our interview the I864 didin't come up (I wrote the detailed description of the interview to the forum) This, despite the fact that I actually said to the officer my husband had a new job. And, it wasn't that the officer was super nice super easy going guy either. Go figure..

My husband says he thinks they don't care much about the affidavit of support, just that the marriage is real - but that's just him saying it...