I-864 with assets question

[red74]

Hi. I am going to do a concurrent I-130/I-485 filing for my dad to get a green card. I have a question about the Affidavit of Support when it comes time to file that. I own rental properties. Because of a large loss several years ago and that loss being carried forward on my taxes, I have not shown any income on my taxes for several years. So I am going to use my assets for the AoS. Nearly all my assets are jointly owned with my wife – several accounts and properties. Also, the properties are owned by LLCs of which we are the only owners. Between all the properties and accounts, we have a net worth of over $6 million.

Part of this net worth is in a mutual fund account which is in my name only and it has had $1.7 million or more in it for over a year. My question is, should I just use that account and nothing else as my assets in the AoS? I’m thinking that since I own it in my name only I could avoid filing an I-864a, not to mention avoiding getting appraisals on all the properties, proving the ownership of the LLCs and sending 12 months of statements for each of 8 different bank accounts. Is $1.7 million so far over what is required that all the other stuff is unnecessary, or do I improve my chances of avoiding problems by showing the highest amount of net worth possible? Obviously I would prefer just being able to use that one account, but I will do whatever increases the chances of getting my dad to be able to stay here without any issues.

One other question. Do I have to include my tax returns when I send the I-864 even though they show no income and my assets are being used instead?

Thanks.

[azblk]

Is $1.7 million so far over what is required that all the other stuff is unnecessary, or do I improve my chances of avoiding problems by showing the highest amount of net worth possible? Obviously I would prefer just being able to use that one account, but I will do whatever increases the chances of getting my dad to be able to stay here without any issues.

Yes it is more than enough. i-864 really doesn't care about your net worth but rather the likelihood that the person you sponsor ends up as a public charge.

[newacct]

Are you self-employed? If not, what is your current (right now) salary? If that is enough then that is sufficient.

[red74]

I am self-employed but I have no salary, that is the issue. And I have no income on my tax return as I have a loss carried forward each year from a previous year. That is why I need to do it with only assets and why I'm wondering if I can just use the one account with plenty of money in and not include anything about the properties and other accounts I own.

[LPD84]

Every case is unique but here's what happened for me. My husband sponsored me for immigration. He has no income and no assets, and we didn't know anyone who earned enough to sponsor me. Looking at the guidelines it said we could count my assets. I own a house which is worth at least five times the poverty line, so we used that as proof of financial independence. There was no problem and no questions.

[newacct]

I am self-employed but I have no salary, that is the issue. And I have no income on my tax return as I have a loss carried forward each year from a previous year. That is why I need to do it with only assets and why I'm wondering if I can just use the one account with plenty of money in and not include anything about the properties and other accounts I own.

You are required to attach a copy of your most recent year's tax return (3 years is optional), as well as provide the "total income" number from the tax returns from the 3 most recent years.

[azblk]

You are required to attach a copy of your most recent year's tax return (3 years is optional), as well as provide the "total income" number from the tax returns from the 3 most recent years.

Or to show assets that are atleast 5 times the difference between your income and the poverty line. in this case income is 0 so you have to show assets that are atleast 5 times greater than the poverty line in your state. A mutual fund worth $1.7 million is definitely greater than 5X the poverty line in any state.

[red74]

Thanks everyone.

[newacct]

Or to show assets that are atleast 5 times the difference between your income and the poverty line. in this case income is 0 so you have to show assets that are atleast 5 times greater than the poverty line in your state. A mutual fund worth $1.7 million is definitely greater than 5X the poverty line in any state.

It's not "or". The requirement to attach the last year of tax returns plus provide the "total income" numbers from tax returns for the last 3 years is completely separate from showing income and/or assets to meet the requirement. You have to separately prove current income and/or assets. But that has nothing to do with the tax returns (tax returns do not prove current income anyway; they prove past income). The tax returns are required by the form no matter if you are using income or assets or whether the income/assets are insufficient and there is a joint sponsor.