RFE for Financial - Foreign Currency Valuation for Cos from F2 to F1 visa

[rash89]

I have applied for a CoS from F2 to F1 visa, in Feb 2013 through ELIS.And have recently received RFE for Financial- Foreign Currency Valuation. RFE is requested for proof of immediate funds and as quoted in the document,

" .. provide documentary evidence that you have received funds from to this aboard sponsor in your account at a U.S. financial institute."

While I enquired with the bank in India regarding this (SBI), I was told that such a transfer could occur only with my university as a part of my fees. When I enquired with USCIS I was asked to contact Indian Embassy regarding this as it is mandatory to for them to continue with the processing.

Any help or suggestion regarding this will be of great help.

Thank in advance.

[kabkaba]

What had you submitted as proof of available funds? Has that money been transferred to your US account?

[rash89]

What had you submitted as proof of available funds? Has that money been transferred to your US account?

As proof I have submitted a financial affidavit from a CA, showing an assessment of funds available. The sponsors are my parents so its basically a details of their earnings and property. And no money has been transferred to my US account.

Thats actually my question, Do I need show proof that the funds are available for transfer or is it necessary for my to have the funds transferred to an US account as proof for RFE.

What are my alternatives in this scenario?

[kabkaba]

Proof that funds have been transferred, how are you proposing to pay your fees?
You should have submitted your parents' bank statements.

[rash89]

Proof that funds have been transferred, how are you proposing to pay your fees?
You should have submitted your parents' bank statements.

I have submitted my parents bank statement too alone with my application, But I'm not certain about the transfer of funds. Like I mentioned when I enquired at the Bank they said if I wanted the funds transferred it could be done only directly to the university and not to a personal account when being considered as funds for education purpose.

[kabkaba]

They can transfer directly to your account under gift or maintenance of immediate relative reason.

[rash89]

They can transfer directly to your account under gift or maintenance of immediate relative reason.

If I'm not wrong there is a limit for the amount transfered as "gift or maintenance" which is subsequently much less than the funds needed for education.
So are you suggesting multiple transactions for the whole or would proof of a single transaction as proof of transfer of funds be sufficient.

Because this is the exact content in my RFE:

" Financial: Foreign Currency Valuation
Submit updated financial documentation from your sponsor aboard to establish that he has immediate funds(liquid assets) to meet the required finance indicates on your SEVIS Form I-20.Please calculate the value in U.S. dollars. Include evidence of the source for the currency conversion exchange rates. Further, provide evidence that you have received funds from to this abroad sponsor in your account at a U.S. financial institute. "

Thank you so much for all you response,kabkaba.

[kabkaba]

The limit is like $200,000 I think and that is per financial year not per transaction.

[rash89]

The limit is like $200,000 I think and that is per financial year not per transaction.

Thank you very much. Let me check again with the bank, because I was told gift is up to $5000 per year.

[rash89]

The limit is like $200,000 I think and that is per financial year not per transaction.

Would it be necessary for me to show the complete amount as transferred or a transaction of some amount as around $5000 be enough proof for now?
as the complete fee as per I-20 is close to $ 20000.