# Proof of funds for DV interview



## Dunliliwell27 (Feb 23, 2012)

Hi All,

I am wondering if one's superannuation account or a letter from the mortgage lender which states that it has a redraw facilities with the balance paid, would be permissible toward the proof of funds which may be requested at the DV interview?

Also, I am getting confused with various posts as to what amounts for the proof, from 125% above the poverty level to either 3x or 5x the poverty level. We will be a family of 8. Can anyone indicate what amount is sufficient as proof of funds?

BTW, is the proof of funds requirement and amount different dependent on country?

Cheers


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## twostep (Apr 3, 2008)

Dunliliwell27 said:


> Hi All,
> 
> I am wondering if one's superannuation account or a letter from the mortgage lender which states that it has a redraw facilities with the balance paid, would be permissible toward the proof of funds which may be requested at the DV interview?
> 
> ...


Can we clarify some verbiage please? Superannuation account, DV interview? 


Here is form and instructions for Affidavit of Support. What family member will be sponsoring you?
USCIS - I-134, Affidavit of Support

Here are official 2012 US Poverty Guidelines and Formulas.
http://www.state.gov/documents/organization/86991.pdf


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## Dunliliwell27 (Feb 23, 2012)

*Verbiage*

Superannuation company that holds my super, much like a bank.

DV interview, Diversity Visa.

I've checked the poverty link, I was hoping that someone would tell me amount so that I can confirm or recheck that I've accumulated amount for proof.

RE: support/sponsor, even if I have sufficient liquid funds, why would I need additional funds from sponsor?

Any thoughts on the mortgage redraw as part of the liquid funds?

Kind regards



twostep said:


> Can we clarify some verbiage please? Superannuation account, DV interview?
> 
> 
> Here is form and instructions for Affidavit of Support. What family member will be sponsoring you?
> ...


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## Dunliliwell27 (Feb 23, 2012)

On reading the formulas again, I think I understand the calculation.

What proof is required of income for self employment?


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## Dunliliwell27 (Feb 23, 2012)

I also meant to add to my previous posts, if sponsors income equals or exceeds the poverty guideline, and the difference is "zero" or a negative amount, what's the expected calculation?


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## twostep (Apr 3, 2008)

Dunliliwell27 said:


> I also meant to add to my previous posts, if sponsors income equals or exceeds the poverty guideline, and the difference is "zero" or a negative amount, what's the expected calculation?


There is no Affidavit of Support when applying through Diversity Lottery. You have to show proof of funds at your interview.


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## belgarath (Jul 15, 2011)

twostep said:


> There is no Affidavit of Support when applying through Diversity Lottery. You have to show proof of funds at your interview.


I beg to differ here, if you have someone in the US who is willing & able to sponsor you, you can present his affidavit of support in the DV interview. That's what the family just before me in the queue did


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## twostep (Apr 3, 2008)

belgarath said:


> I beg to differ here, if you have someone in the US who is willing & able to sponsor you, you can present his affidavit of support in the DV interview. That's what the family just before me in the queue did


I never came across that. Can you give some details for all of us here?


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## belgarath (Jul 15, 2011)

twostep said:


> I never came across that. Can you give some details for all of us here?


This is what I could find :
Affidavit of Support

You can also present proof of your own funds for DV.


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## twostep (Apr 3, 2008)

belgarath said:


> This is what I could find :
> Affidavit of Support
> 
> You can also present proof of your own funds for DV.


http://www.travel.state.gov/pdf/DV-2011instructions.pdf Section 32


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## Dunliliwell27 (Feb 23, 2012)

I am happy enough to provide my own proof of funds. I only wanted to know if the two sources I mentioned in my original post, super and redraw, are acceptable forms of liquid funds. Both can be obtained within a fortnight to a month.


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## Dunliliwell27 (Feb 23, 2012)

*Source of Funds within Australia*

Hithank you for providing various links. I'm not sure if the reason for my msg not quite answered is because I'm not making sense. I can clarify if needed. I'm in Australia and haven't migrated to USA yet.

Can anyone confirm whether the 2 sources of funds, both in Australia, is acceptable as forms of liquidness?

Kind regards






Dunliliwell27 said:


> I am happy enough to provide my own proof of funds. I only wanted to know if the two sources I mentioned in my original post, super and redraw, are acceptable forms of liquid funds. Both can be obtained within a fortnight to a month.


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## hoofer27 (Sep 12, 2011)

At my interview the only form of proof of funds they would accept, including my pension plan, was a bank statement. Although I had official government documentation regarding my income, I was (politely) told to go away and not come back till they could see the money in the bank.


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## elfas (Mar 10, 2012)

if your super can be taken out without penalty that should be good, your curent income dont mean nothing unless youre tourist, they wanna see that you capable to suport youself for as long as possible, if your super is similar to IRA why not pull it out, get statement from bank and put back before penalties, is it really bad in australia? its not great in US lately...


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## Dunliliwell27 (Feb 23, 2012)

*Superannuation*

No penalties as such. Just won't get the matured amount. Also a chunk of tax deducted. The super has balance amounts just like bank accounts.

From my understanding, super (the non-matured amount) can be fully withdrawn if account holder doesn't plan to return/work in Australia.

BTW, what's IRA?


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## elfas (Mar 10, 2012)

Dunliliwell27 said:


> No penalties as such. Just won't get the matured amount. Also a chunk of tax deducted. The super has balance amounts just like bank accounts.
> 
> From my understanding, super (the non-matured amount) can be fully withdrawn if account holder doesn't plan to return/work in Australia.
> 
> BTW, what's IRA?


IRA is a retirement acount, that you alowed to contribute around $5000 a year if your income is under $150K (I think) you get to also deduct amount you contribute from your income tax, but if you pull it out before retirement you get penalties and you get taxed, but you can pull it out without penalty if you have a hardship like behind morgage or laid of work, you still get taxed unless you put it back i believe in 30 or 60 days. there is also Roth IRA, which is easier pull out, but contributions you make cannot be deducted from taxes. IRA is not the same as 401K plan where both you and your employer makes contributions, IRA contribution is 100% your money.


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## Dunliliwell27 (Feb 23, 2012)

*Roth IRA*

In case any miscomm, we have various super accounts in Australia, which all (I think) do the same thing.

I am curious as to weather I can rollover my Australian Super to an American one?

On an aside, any disadvantages to IRA? Is Roth the only IRA?



elfas said:


> IRA is a retirement acount, that you alowed to contribute around $5000 a year if your income is under $150K (I think) you get to also deduct amount you contribute from your income tax, but if you pull it out before retirement you get penalties and you get taxed, but you can pull it out without penalty if you have a hardship like behind morgage or laid of work, you still get taxed unless you put it back i believe in 30 or 60 days. there is also Roth IRA, which is easier pull out, but contributions you make cannot be deducted from taxes. IRA is not the same as 401K plan where both you and your employer makes contributions, IRA contribution is 100% your money.


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## Dunliliwell27 (Feb 23, 2012)

*Silly misspelling*

I have automatic spelling and obviously skipped a couple letters.

Weather meant to say "whether".



Dunliliwell27 said:


> In case any miscomm, we have various super accounts in Australia, which all (I think) do the same thing.
> 
> I am curious as to weather I can rollover my Australian Super to an American one?
> 
> On an aside, any disadvantages to IRA? Is Roth the only IRA?


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## Bevdeforges (Nov 16, 2007)

Dunliliwell27 said:


> In case any miscomm, we have various super accounts in Australia, which all (I think) do the same thing.
> 
> I am curious as to weather I can rollover my Australian Super to an American one?
> 
> On an aside, any disadvantages to IRA? Is Roth the only IRA?


You can only roll over US "deferred taxation" accounts one to the other. They don't allow you to roll over from a foreign retirement or other "tax free" account into an IRA, Roth or otherwise.

There are a couple different sorts of IRA accounts. The "regular" IRA is a retirement account, where you deduct your contributions as you make them from your taxable income (up to a certain limit, natch) and then you pay income tax on the full amount you deduct after retirement.

The Roth IRA is a special exception - you don't get a deduction on your contributions to the account, but then the money is tax free when you withdraw it. Obviously, there are terms and restrictions on both the contributions and the withdrawals.

The issue with both sorts of IRAs is that you can only make contributions to the funds out of US taxable earned income. So US expats living overseas who take advantage of the Earned Income Exclusion (i.e. to exclude salary from double taxation by the US) can't contribute to any sort of IRA, regular or Roth. In your case, since you haven't had any US taxable income in Australia, you aren't allowed to establish any sort of IRA. (Once you start earning taxable income in the US, you can set up whatever you like.)
Cheers,
Bev


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