# Asset Requirements When Moving Back to the USA



## want2movehome (Jan 31, 2015)

Hi everyone, I am hoping you guys can help us. I am a US citizen but have been living in Australia for many years. I have an Australian citizen wife and our child has dual citizenship. We want to move to the USA but we do not have US income. Everything with the visa was approved, interviews went well, background checks, etc.. except we need approximately $74,000 US in our savings account. We do not have other assets so we will need cash. My family becoming a joint sponsor is not an option at this time. We have been told that we have approximately 9 months to provide evidence of this money, to avoid having our case closed, and that we can provide bank statements showing our balance. 

We should have this amount if we start saving like crazy, starting now, but a friend of mine said when he applied for a mortgage, the bank wanted proof that the money was 'seasoned,' or in his account for at least 6 months and that the money didnt just appear out of no where recently. Do you guys have any idea if this is the same requirement for our visa? We will have to start saving approximately $6,000 per month to reach the $74K before the deadline so there will be quite a lot of money that is not 'seasoned' for 6 months. 

Thanks for your help!


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## BBCWatcher (Dec 28, 2012)

Saving in the manner you described is "seasoning" for these purposes. A big pile of money arriving all at once in the account 6 minutes before the deadline is not.

Gifts are permissible, by the way. Now would be a good time.

"Dumb" question, by the way: you're all moving to the U.S. with no job(s) lined up and trying to accumulate some savings now? Couldn't you at least try to get a job lined up?


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## want2movehome (Jan 31, 2015)

BBCWatcher said:


> Saving in the manner you described is "seasoning" for these purposes. A big pile of money arriving all at once in the account 6 minutes before the deadline is not.
> 
> Gifts are permissible, by the way. Now would be a good time.
> 
> "Dumb" question, by the way: you're all moving to the U.S. with no job(s) lined up and trying to accumulate some savings now? Couldn't you at least try to get a job lined up?


Thanks for the information BBCWatcher, I would have thought our savings plan would be fine but I am really surprised at the lack of information I was able to find on official websites regarding this. If you have found official information, I would love to have a look but we were put back a bit when they told us how much we had to have in savings and that our Australian income ($120K combined) does not count for anything. 

Gifts might be possible but what kind of documentation will we need to show that we received monetary gifts?

We are moving, without jobs, as you suggest but I will definitely start applying for jobs once we are about 4 months away from arriving. I would love to have one lined up but the savings should get us through at least a year without working so we should be fine. If I did have a job lined up, with an offer letter in hand, do you know if that would that change our circumstances at all?


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## Bevdeforges (Nov 16, 2007)

Things have apparently changed in recent years, but 10 or 15 years ago, they required "proof" that the US spouse sponsor was in process of relocating back to the US before they'd even accept the visa application. This usually meant that they had a job lined up and had a place to stay. In many cases, this meant that the American spouse had to go ahead to get the situation settled before putting in the paperwork to sponsor the non-American family member(s). 

That might be an option - for you to go ahead of the family and start the job hunt now. That might even give you the chance to have a month or two of paystubs to produce for the income proof you need. It's a tight timetable, but not entirely impossible.
Cheers,
Bev


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## want2movehome (Jan 31, 2015)

Bevdeforges said:


> Things have apparently changed in recent years, but 10 or 15 years ago, they required "proof" that the US spouse sponsor was in process of relocating back to the US before they'd even accept the visa application. This usually meant that they had a job lined up and had a place to stay. In many cases, this meant that the American spouse had to go ahead to get the situation settled before putting in the paperwork to sponsor the non-American family member(s).
> 
> That might be an option - for you to go ahead of the family and start the job hunt now. That might even give you the chance to have a month or two of paystubs to produce for the income proof you need. It's a tight timetable, but not entirely impossible.
> Cheers,
> Bev


They still require 'proof' and luckily there are other ways to prove this without having a job lined up.

Its not really an option at this point to leave my wife and newborn behind. If we cant all go together, I will have to stay here with them until we can work something else out. We thought about your suggestion but I just cant leave them behind, risk not finding a job, blowing through our savings and being stuck on the other side of the world.


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## BBCWatcher (Dec 28, 2012)

want2movehome said:


> ....I just cant leave them behind, risk not finding a job, blowing through our savings and being stuck on the other side of the world.


The risk of not finding a job and blowing through your savings already exists, hence this feedback to you. Your savings tends to last longer if you don't have to buy extra airline tickets for your wife and child (including return to Australia), and assuming you live in an inexpensive motel in the U.S. while you find a job.

Anyway, just consider all the options, including that one.


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## twostep (Apr 3, 2008)

Depending on your profession and target location in the US four months from beginning your job search to hire is not realistic.
Of course you will be burning through your savings - tickets, deposits for apartment/utilities, medical insurance, car and insurance, licenses from drivers to professional if applicable, job search, .... Spending several weeks in an extended stay are relatively inexpensive but with a newborn it can be a different matter.


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## want2movehome (Jan 31, 2015)

I appreciate the advice everyone but I have considered the options very carefully and we are prepared to move without a job lined up. I made a budget for us with much less, before we knew we would need $74K in the bank and we will be staying with my family until we are ready to move out so we should be fine. I do appreciate the concern though as I'm sure not everyone creates an excel budget spreadsheet, to cover a years worth of the many expenses that will come up, as I have. 

Does anyone know what documentation, if any, is required for monetary gifts? My fairly well off grandmother has been asking what she can do to help so this could be an option for another $5-$10K.


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## BBCWatcher (Dec 28, 2012)

I can't think of any documentation the U.S. requires. As long as the gift is free and clear, and irrevocable, I don't see a problem. (Thank you, grandmother.)

During the time you're "income poor" in the United States I would recommend enrolling all U.S. citizens in your household in Medicaid. That's easiest to do if you move to a state that accepted the PPACA ("Obamacare") Medicaid expansion. Once you're employed and get employer-provided medical insurance, you'd shift the entire family over to that.

There might be a problem enrolling your Australian spouse in Medicaid (even if you can) because the government might want to recover that expense from her sponsor (you). To get her covered you'll have to make different arrangements. If you don't get her covered within 90 days on a proper, PPACA-compliant insurance policy then you might be subject to an income tax penalty. I don't know if you factored that eventuality into your spreadsheet, but there it is. If she doesn't have adequate coverage and gets sick in the United States -- well, forget the spreadsheet, let's just say.

Another approach is to go to Healthcare.gov, use your estimate of your income (inclusive of the job you _expect_ to get), and buy PPACA-compliant medical insurance for the entire family -- and to do that as quickly as you can after you land.

Anyway, medical coverage is one additional reason why you might want to send the expedition party to the United States (you) first, land the job, then pull the rest of the troops into the battle. But it's your call whether you want to go all-in without a job.


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## want2movehome (Jan 31, 2015)

Thanks for all of the information again! We are planning on purchasing Obamacare and we have spoken with the agency in the state we are moving to. We will have travel insurance for a few weeks and we can get Obamacare as soon as we get there as we have special circumstances and can apply outside of their standard enrolment period. I will look into the Medicare thing but I was planning on purchasing our own coverage with or without a job.


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## BBCWatcher (Dec 28, 2012)

Medic_aid_, not Medicare. At least among states that expanded Medicaid under the Patient Protection and Affordable Care Act ("Obamacare") there are no longer wealth limits to qualifying for Medicaid. There's only an income limit, up to 133% of the federal poverty line for expansion states.

So, discuss that possible option for the U.S. citizens in the household with that (government, I hope) agency in your destination state. That approach, if possible, could save you a bit of money while you're between jobs. I don't know if you can "mix" Medicaid (U.S. citizens) and a PPACA exchange policy (your Australian spouse) within the same household, but if you can that might be a more affordable approach. (I don't see why you cannot. The rules say you can, but you might have to ask a "healthcare navigator" or somebody else in a government agency to walk you through the paperwork since it's not the most common combination.)


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## want2movehome (Jan 31, 2015)

That is great to know and I will definitely look into that. It would save us a bundle if we all qualify and I am still looking for work. Thanks again!


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## BBCWatcher (Dec 28, 2012)

OK, I'll try again. 

Your Australian spouse cannot enroll in Medicaid. She'll need medical insurance some other way -- via the Healthcare.gov PPACA health insurance exchange, in all likelihood.

You and your U.S. citizen child likely do qualify for Medicaid while you're between jobs, at least if you're moving to a state that expanded Medicaid. (Or your child might qualify for something called CHIP.)

Check out _that_ combination to see if it works for you.


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