Express Entry - Proof of Funds - US Resident

[Srukar]

Hello Folks,

I am currently in US and received the ITA in February. Both me and my wife are working and we saved amount required for proof of funds in last 3 months from our salary income (starting January).

My wife has been transfering funds from her salary account into my account (which we are using to show POF). Also, we now saved more than the required amount only from our salary income.

1. So, Is it required that we need to show Avg balance for 6 months?

2. I applied for a letter from BOFA and it shows avg balance for 6 months as $9k. Would that cause any issues?

3. I am planning to include bank statements as well, as the Bofa reference letter is not as per standards. The issue i have is if i put bank statement for december last year then my ending balance on account would be around $1500, since i was transfering funds around to different account and paying off loans at that time. What do you suggest for me? Shall i include these bank statements or only send last 3 months bank statements?

4. I got an affidavit signed by my spouse saying i can use the funds transfered from her account for our settlement in canada. Would this be enough?

 

[ee_candidate]

Hello Folks,

I am currently in US and received the ITA in February. Both me and my wife are working and we saved amount required for proof of funds in last 3 months from our salary income (starting January).

My wife has been transfering funds from her salary account into my account (which we are using to show POF). Also, we now saved more than the required amount only from our salary income.

1. So, Is it required that we need to show Avg balance for 6 months?

2. I applied for a letter from BOFA and it shows avg balance for 6 months as $9k. Would that cause any issues?

3. I am planning to include bank statements as well, as the Bofa reference letter is not as per standards. The issue i have is if i put bank statement for december last year then my ending balance on account would be around $1500, since i was transfering funds around to different account and paying off loans at that time. What do you suggest for me? Shall i include these bank statements or only send last 3 months bank statements?

4. I got an affidavit signed by my spouse saying i can use the funds transfered from her account for our settlement in canada. Would this be enough?

Statements for 6 months are required. You can show your salary deposit account statements and state in an LOE that you just recently started using a dedicated account for PR funds.
A more conservative approach is to decline the ITA and reapply in 3 months since you have sufficient points. I think that is unnecessary but it's your call.

 

[AlexandraO]

I have more question than answer.

@Srukar what is your stream in EE?

and for all other knowing people.

if the stream is Canadian experience class - are we obliged to show the funds - it is said that not:

"All applicants must meet the settlement funds requirement unless they are currently authorized to work in Canada and have a valid job offer (LMIA approved) from an employer in Canada, or they have been issued ITA under Canadian Experience Class."

why the document list for uploading after ITA still mentioning Proof of funds?

Second question - I am not principal applicant ( wife) - but I am the one on which account is all funds? should I also transfer it to my husband????

 

[ContactFront]

why the document list for uploading after ITA still mentioning Proof of funds?

If you are CEC, no need to provide proof of funds. Just upload a letter in that section and say you are CEC.

 

[Srukar]

Statements for 6 months are required. You can show your salary deposit account statements and state in an LOE that you just recently started using a dedicated account for PR funds.
A more conservative approach is to decline the ITA and reapply in 3 months since you have sufficient points. I think that is unnecessary but it's your call.

Well do i need to still keep saving for 6 months even though i saved enough in 3 months? All funds are through salary of both me and my wife.

I can explain each transaction in the statement coz source has always been salary. Cant i just add 3 months statements and payslips of me and my wifes and show them as proofs?

Btw, I am applying as FSW Outland. Not CEC ..

 

[ee_candidate]

Well do i need to still keep saving for 6 months even though i saved enough in 3 months? All funds are through salary of both me and my wife.

I can explain each transaction in the statement coz source has always been salary. Cant i just add 3 months statements and payslips of me and my wifes and show them as proofs?

Btw, I am applying as FSW Outland. Not CEC ..

That's how I would proceed. Show payslips and account deposits.