Affidavit of Support needs to be generally filed for all Family based green card petitions and certain Employment based petitions.
If the Petitioner who is signing the Affidavit of Support does not have a sufficient income (as defined by the Poverty Guidelines for the Affidavit of Support), the Petitioner can use his/her assets instead.
If you are relying on your income for the Affidavit of Support, the “total income” line on your IRS form 1040 is used to determine whether or not you meet the Poverty Guidelines requirements.
What assets can be used for the purposes of Affidavit of Support?
One important thing to keep in mind is that if your annual income is sufficient, you do not need to fill out the information on Form I-864 about your assets. This would only need to be filled out if your annual total income is not sufficient to meet the Federal Guidelines.
Please note that only assets that can be converted into cash within one year and without a considerable hardship/financial loss to the owner may be included in the Affidavit of Support.
You must describe the asset and attach proof of your ownership of the asset and also submit document showing the date you acquired the particular asset.
The following are examples of assets that can be included:
- Money you have on your Checking/Savings account (USCIS can ask for your 12 months recent bank statements showing that the balance on the account averaged the required amount and also showing the most recent balance),
- Net cash value of real estate,
- Net cash value of your stocks, bonds, certificates of deposit, or
- Other assets
Can I use my spouse’s assets?
If you want to use your spouse’s assets, the spouse must reside with you and your spouse will have to sign Form I-864A and also submit evidence of his/her assets.
What’s the value of the assets I need to show?
Generally, the total value of your assets must be at least five times the difference of your household income and the current Federal Poverty Guidelines. If you are a U.S. citizen and you are sponsoring your spouse or child, the total value must be at least 3 times the difference.
Can a joint sponsor use assets?
A joint sponsor can be any U.S. citizen, green card holder, or a U.S. national who is at least 18 years or older and who has a domicile in the U.S.
The green card applicant only has to get a Joint sponsor if the Petitioner who is sponsoring the foreign national for a green card does not have sufficient income/assets to meet the Poverty Guidelines requirements.
A joint sponsor will have to sign a Separate I-864 Affidavit of Support form and can rely either on his/her income or if the income is not sufficient, on his/her assets.
Please see our blog post about the difference between a joint sponsor and substitute sponsor here.
Please see our blog post on What immediate relatives can a U.S. citizen sponsor here.
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