The I-864 Form (Affidavit of Support) allows the US Government to assess someone’s financial capability to support a sponsored person, whether they are a spouse, parent, child, sibling, and even friend.
The I-864 primarily assesses two areas of someone’s financials:
- Annual Income, derived from Paystubs / Pay Checks
- Adjusted Gross Income taken from the most recent IRS Transcript or IRS Form 1040
The necessary amount needed to overcome the I-864 on both of the above items can be found here: https://www.uscis.gov/i-864p
The I-864P addresses one’s household size and geographical location in calculating the Poverty Level for someone’s I-864.
What If My Current Income is higher than my taxes AGI?
Although this is an Asset discussion if the income of the current year is above the I-864P, then the following may be able to establish a qualifying I-864:
- all Paystubs from the past 12 months with the same employer; and/or,
- The employer writes a letter stating:
- Business Name
- Business Address
- Employer’s Full Name
- Employer’s Position in Business
- Employee’s Full Name
- Employee’s Start Date
- Employee’s Position
- Employee’s Salary
- Evidence of up to the past 12 months of paychecks to establish salary
- Statement on whether the Employee will be working at will or if there is a termed contract for the employment length
When are Assets Required?
Assets are generally optional. However, if the annual income and/or Adjusted Gross Income is below the I-864P Poverty Level, assets are possibly mandatory.
Assets are items that can be withdrawn or sold within 1 year to create a “cash holding.” Examples of assets can be:
- Cash in the Bank
- CDs in the Bank
- House and land ownership
- Stock Portfolios
- Retirement Accounts (401K, IRA, HSA)
Formula of Valuation
- If the I-864 is for a spouse, then assets value will by 1/3 Value. Meaning, if the assets value $300,000, then the US Government will value it at $100,000 for I-864 purposes.
- If the I-864 is for someone other than a spouse, then assets value will by 1/5 Value. Meaning, if the assets value $250,000, then the US Government will value it at $50,000 for I-864 purposes.
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