i-864 assets - do they need to be in US $
Nov 16th 2010, 3:55 am
#1
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i-864 assets - do they need to be in US $
Hi everyone
Just to start off, I would like to say how much this forum is a huge lifesaver! The advice and guidance has been invaluable to me and my husband in our journey to move back to the States. We have just had our I-130 approved via DCF in London.
Next major task is completing our i-864 and I have a couple of key questions we could use your advice on. Firstly, it is just the two of us - me (USC) and him (UKC). Neither of us have jobs lined up the US but are employed in the UK. We just sold our flat and have about £50k worth of savings, so we are planning on applying based on assets.
Question 1- assets: Can we just show the ConOff our UK savings account statements that show our cash assets? Or do these need to be sitting in a US bank account? I am unsure because I know assets need to be reasonably easily accessed, but no specification of what country or currency these need to be sitting in.
Household size: to risk sounding completely daft, is this just 1? So just my husband, who is the only person I am sponsoring? The table of horrors in section 21 is far from clear to me.
Thanks so much in advance
Just to start off, I would like to say how much this forum is a huge lifesaver! The advice and guidance has been invaluable to me and my husband in our journey to move back to the States. We have just had our I-130 approved via DCF in London.
Next major task is completing our i-864 and I have a couple of key questions we could use your advice on. Firstly, it is just the two of us - me (USC) and him (UKC). Neither of us have jobs lined up the US but are employed in the UK. We just sold our flat and have about £50k worth of savings, so we are planning on applying based on assets.
Question 1- assets: Can we just show the ConOff our UK savings account statements that show our cash assets? Or do these need to be sitting in a US bank account? I am unsure because I know assets need to be reasonably easily accessed, but no specification of what country or currency these need to be sitting in.
Household size: to risk sounding completely daft, is this just 1? So just my husband, who is the only person I am sponsoring? The table of horrors in section 21 is far from clear to me.
Thanks so much in advance
Nov 16th 2010, 4:04 am
#2
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Re: i-864 assets - do they need to be in US $
Question 1- assets: Can we just show the ConOff our UK savings account statements that show our cash assets? Or do these need to be sitting in a US bank account? I am unsure because I know assets need to be reasonably easily accessed, but no specification of what country or currency these need to be sitting in.
Household size: to risk sounding completely daft, is this just 1? So just my husband, who is the only person I am sponsoring? The table of horrors in section 21 is far from clear to me.
According to the I-864P, a family of 2 needs to show income of $18,212 per year. Since you want to use assets, multiply that by 3. You will need to show at least $54,636 in savings.
Rene
Nov 16th 2010, 6:41 am
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Re: i-864 assets - do they need to be in US $
When we had our DCF interview and gave over our financial stuff, some was in dollars and some in pounds. I included a cover letter explaining the total in dollars and what rate I used to determine it, but they still converted it themselves anyway. I asked what rate they were using and it was about the midmarket rate at the time.
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
Nov 16th 2010, 6:15 pm
#4
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Re: i-864 assets - do they need to be in US $
When we had our DCF interview and gave over our financial stuff, some was in dollars and some in pounds. I included a cover letter explaining the total in dollars and what rate I used to determine it, but they still converted it themselves anyway. I asked what rate they were using and it was about the midmarket rate at the time.
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
Nov 17th 2010, 2:59 am
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Re: i-864 assets - do they need to be in US $
When we had our DCF interview and gave over our financial stuff, some was in dollars and some in pounds. I included a cover letter explaining the total in dollars and what rate I used to determine it, but they still converted it themselves anyway. I asked what rate they were using and it was about the midmarket rate at the time.
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
Thanks for the household confirmation too. Now just onto the fun task of finishing the form!
Nov 17th 2010, 3:29 am
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Re: i-864 assets - do they need to be in US $
Nov 17th 2010, 4:44 am
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Re: i-864 assets - do they need to be in US $
When we had our DCF interview and gave over our financial stuff, some was in dollars and some in pounds. I included a cover letter explaining the total in dollars and what rate I used to determine it, but they still converted it themselves anyway. I asked what rate they were using and it was about the midmarket rate at the time.
Nov 17th 2010, 5:32 am
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Re: i-864 assets - do they need to be in US $
Nov 17th 2010, 9:06 am
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Re: i-864 assets - do they need to be in US $
Thanks, that's really helpful!
And a really good point to have the I-864 guidelines with us
And a really good point to have the I-864 guidelines with us
Nov 17th 2010, 11:47 am
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Re: i-864 assets - do they need to be in US $
Nov 17th 2010, 9:25 pm
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Re: i-864 assets - do they need to be in US $
Bring a printout of the part of the instructions that says it's 3x income you need to show for assets. People applying by marriage show 3x but people applying through other means have to show 5x. Our interviewer was a little confused on this point for a minute and at first thought we had to show 5x the income level.
The reason I thought we needed 5x is because on the London US Embassy website it simply says "the cash value of your assets must be at least five times the difference between your income and the 125% of the poverty line for your household size". There is no mention of 3x for a spouse as far as I can see.
I now see that the US Department of State website says "Sponsors of spouses and children of U.S. citizens must only prove assets valued at three times the difference between the poverty guideline and actual household income."
Considering that our application will be processed by the London US Embassy, and knowing that they apply their own rules (qv supporting document requirements for I-130), what proof do you recommend printing for the benefit of the interviewer and how sure can we be that 3x will definitely be acceptable instead of 5x?
Nov 17th 2010, 9:44 pm
#12
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Re: i-864 assets - do they need to be in US $
Firstly thank you to all above for this thread as we have been furiously saving to try to achieve the 5x level. I am very pleased that we shouldn't need to sell things if we really only need 3x.
The reason I thought we needed 5x is because on the London US Embassy website it simply says "the cash value of your assets must be at least five times the difference between your income and the 125% of the poverty line for your household size". There is no mention of 3x for a spouse as far as I can see.
I now see that the US Department of State website says "Sponsors of spouses and children of U.S. citizens must only prove assets valued at three times the difference between the poverty guideline and actual household income."
Considering that our application will be processed by the London US Embassy, and knowing that they apply their own rules (qv supporting document requirements for I-130), what proof do you recommend printing for the benefit of the interviewer and how sure can we be that 3x will definitely be acceptable instead of 5x?
The reason I thought we needed 5x is because on the London US Embassy website it simply says "the cash value of your assets must be at least five times the difference between your income and the 125% of the poverty line for your household size". There is no mention of 3x for a spouse as far as I can see.
I now see that the US Department of State website says "Sponsors of spouses and children of U.S. citizens must only prove assets valued at three times the difference between the poverty guideline and actual household income."
Considering that our application will be processed by the London US Embassy, and knowing that they apply their own rules (qv supporting document requirements for I-130), what proof do you recommend printing for the benefit of the interviewer and how sure can we be that 3x will definitely be acceptable instead of 5x?
Although we will have a joint sponsor lined up and all the paperwork from them to present if needed, we were actually hoping we could qualify with our own assets (bank savings) which are comfortably above the 3x rule, but not nearly as much as 5x. No way we can reach that at this point!!
Is London even allowed to impose its own rules on things that are clearly specified by the Department of State???
Has anyone else been approved in London with the 3xt hreshold?
Nov 17th 2010, 11:02 pm
#13
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Re: i-864 assets - do they need to be in US $
Considering that our application will be processed by the London US Embassy, and knowing that they apply their own rules (qv supporting document requirements for I-130), what proof do you recommend printing for the benefit of the interviewer and how sure can we be that 3x will definitely be acceptable instead of 5x?
Ian
Nov 17th 2010, 11:14 pm
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Re: i-864 assets - do they need to be in US $
Aha! There in black and white, just what I was after. I think we're looking at different revisions of the form as mine says:
Thank you! (what are assests? )
The total value of all assests, line 29, must equal 5 times (3 times for spouses and children of USCs, or 1 time for orphans to be formally adopted in the U.S.) the difference between the poverty guidelines and the sponsor's household income, line 24c.
)
Nov 18th 2010, 6:54 am
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Joined: Apr 2002
Posts: 35,082
Re: i-864 assets - do they need to be in US $
Oh, I hadn't noticed THAT!!
Although we will have a joint sponsor lined up and all the paperwork from them to present if needed, we were actually hoping we could qualify with our own assets (bank savings) which are comfortably above the 3x rule, but not nearly as much as 5x. No way we can reach that at this point!!
Is London even allowed to impose its own rules on things that are clearly specified by the Department of State???
Has anyone else been approved in London with the 3xt hreshold?
Although we will have a joint sponsor lined up and all the paperwork from them to present if needed, we were actually hoping we could qualify with our own assets (bank savings) which are comfortably above the 3x rule, but not nearly as much as 5x. No way we can reach that at this point!!
Is London even allowed to impose its own rules on things that are clearly specified by the Department of State???
Has anyone else been approved in London with the 3xt hreshold?
I have to admit, this thread has me totally baffled. I recommend that everyone go back and read the form instructions with a clear mind and lose your preconceptions. I also added where you can find the policy of the details (the Final Rule) and I have added all of these links to the wiki entry specifically on I-864 from abroad.
I'm sorry if that seems cross, I'm not, but I am very surprised at what I'm reading.
