I-864 income/asset requirements

I looked at the I-864 form and in the Income Requirements it says you must have 125% of the federal poverty line for your household size to be a sponsor.  It goes on to say that if you don't meet the income level, ie if you moved over with no job so your income is $0 then you either need a co-sponsor or you can use Assets.  By assets they mention real estate but I assume this could be cash as well.

However, section 29: Total Value of Assets, it suggests that for sponsoring spouses and minor children you only need 3 times the poverty line (not 3 times 125% poverty line):

In order to qualify based on the value of your assets, the totalvalue of your assets must equal at least five times thedifference between your total household income and thecurrent poverty guidelines for your household size. However,if you are a U.S. citizen and you are sponsoring your spouseor minor child, the total value of your assets must only beequal to at least three times the difference.

It goes on to give an example where the $4,000 difference only brings the income up to the poverty line, not 125% above it.  Again, for spouses in this example, you'd have to have $12,000.  Do you think this is a mistake on the form, should the threshold in this example been $27,577.50 (125% poverty line amount) and therefore 3 x $9,515.50 ($28,546.50) required?  That is a huge difference!  You could, for example, have $12,000 in equity in your house or perhaps $12,000 in savings which wouldn't be enough to meet the 125% amount.

Example of How to Use Assets: If you are petitioning for aparent and the poverty line for your household size is $22,062and your current income is $18,062, the difference betweenyour current income and the poverty line is $4,000. In orderfor assets to help you qualify, the combination of your assets,plus the assets of any household member who is signing FormI-864A, plus any available assets of the sponsored immigant,would have to equal five times this difference (5 x $4,000). Inthis case, you would meet the income requirements if the netvalue of the assets equaled at least $20,000.

Anyone have insight into this?

I'm just starting to look into this process myself as my husband and I are thinking about moving back to the US around the time my spousal visa is up and it's SO confusing!  I'm interested to hear about what the sufficient funds are.... how do you find out what the poverty line amount is in the first place?

Matt,

If I'm reading correctly I think you are misinterpreting that paragraph. The difference between zero income and the poverty level is whatever the poverty level is, and you need 3 times that amount if you are a US citizen sponsoring a spouse and minor children.

If the current poverty level for a family your size (including minor children even if they DO NOT live with you) is 22,062 and you have $0 income in the US because you are currently seeking work then you need 3 x 22,062 = $66,186. We used cash as we didn't own property and we sold our car in the UK before we moved.

Oh, thank God.  I'm just starting to explore this option too.  Honestly, it all depends on the outcome of an interview I have next week plus some other outstanding job applications.  Very nervous as, since I'm the USC, I have very little income to my name here in the UK.  I do have my retirement money in the US (which I'd rather not have to cash out if I can help it) but that's pretty much it right now.  Our primary income is through my spouse, the UKC.  Still, our assets are nowhere near the amount missy just listed (they were *prior* to our move over here, but I'll not go off on that tangent).

I assume we could use my parents as additional sponsors too, just like I did 10 years ago for our finance visa (though at that point at least I had a job too)?

If the current poverty level for a family your size (including minor children even if they DO NOT live with you) is 22,062 and you have $0 income in the US because you are currently seeking work then you need 3 x 22,062 = $66,186. We used cash as we didn't own property and we sold our car in the UK before we moved.

Well, if that's true, it's slightly better.  Earlier in the document where it's talking about income it suggests you need 125% of the poverty line.  $22,062 is the poverty line, so 125% of that would be $27,577.50.  It's not terribly clear!

Matt, you're moving back? Where and when??

Matt, you're moving back? Where and when??

Well, not really, not yet, I'm just interested in these things 
DW and I have talked about it before but if we did it probably wouldn't be for another 6 months to a year if we did.  I'd have to find a job anyway if we did, maybe not so easy in the recession.  If we did, it'd most likely be to Baltimore, though.  Are you in Baltimore, Balmerhon?  Or does your name belie your location? 

Technically not Baltimore - but close enough! I'm in Glen Burnie at the moment but I lived in B'more (Mt Vernon) years ago. If the schools weren't so bad, I'd move there now, but instead I have to stick to living as close as I can. Let me know if you do head back... there are a few UKY folk around here...

Just wanted to say that I'm checking this thread too, as we're (me (USC/UKC), husband (UKC) and baby boy (USC/UKC)) thinking about a move to the USA, but like some others, waiting on the outcomes of some interviews. I'm also mostly concerned about the financial support aspect, as we'd all want to move over together and not really keen for me to move over and get a job first.

I had a look at the first form-I-130 (?) and it asks where you were going to live when you first move over to the USA. Ideally, we'd temporarily live with my parents while job searching.  However, they are both retired with no income but a fair bit of savings, etc. Do people have to be employed to help you? Would my parents have to show they have enough to support 5 people (4 adults, 1 kid)? If my sister sponsors us, could we live elsewhere? Or would she have to show she can support 7 people (4 adults, 3 kids?)

So many questions! I've had a look at Dive Into America but some of the threads that look really informative don't seem to have the responses that I need. I think I'm just spoiled by how quick and informative UK yankee is!

katherine

No, your parents do not have to have any financial help or offer assistance for you to live there -- all the I-130 is looking for is an address. The I-864 is for finances and is completely separate.

We just got back from the consulate today and are still unsure about this. They told us we need something like $58,000 in LIQUID assets but when we got back home and looked it up, it says it can be in assets that can be liquidated within 12 months.

Our house is on the market and not yet sold but in the process and they refused to use that as an asset.  We have an email back to the consulate now asking for clarification but have been told we need a second sponsor (and health insurance) before they will approve.

It's a tough road that just got a little tougher.

~Francis

Not sure if anyone still needs clarification on this issue, but I thought I'd post this here in case someone else goes searching (like I did!)

newcomer link: http://travel.state.gov/visa/immigrants/info/info_3183.html#22 [nonactive]

What Cash Value of Assets is Needed?

The total net value of assets, less liens and liabilities against them, must equal five times the difference between the sponsor's income and 125% of the poverty level for the household size.

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.

So it looks like the term "poverty guideline" as used in the i-864 instructions does not mean the poverty level, but rather is intended to mean 125% of the poverty level (unless the sponsor is active duty US military), as Matt hypothesized.

Could they have made it any more ambiguous??? *sigh* This was not the answer I was hoping for....

Hope this helps!

Best wishes,
orangelift