Proof of Funds change/maintenance after submission of all docs online for PR

[ra85]

Hi,

Situation:-

After getting the ITA nearly 3 months back, I submitted all the required docs online for PR (single). I see that the medicals are cleared and am not aware of the status or stage where the application is in.

For Proof of Funds, I had submitted CASH AT BANK (CAD 10,000) plus LIQUID MUTUAL FUNDS (CAD 6,000), amounting to around CAD 16000 (approx CAD 12,500 was the requirement).

I have now sold LIQUID MUTUAL FUNDS worth (CAD 4,000), the amount is directly credited to my savings bank account. In total the net POF remains the same but the amount in BANK and LIQUID MUTUAL FUNDS have changed.

My questions are:-

1. What CIC or IRCC do to verify the POF and when? Do they directly call them?

Is that a problem, if they do call and find that the amount mentioned at the time of submission is different/changed/transferred etc. than what they have verified now ?

Technically, do we need to maintain the POF amount as well as bifurcation of amount in different accounts after submission of all docs online ?

Given the situation and if necessary, what action should be taken from my end.


2. When can one expect the result as it is already 3 plus months post submission of all docs online. I learned that there is a progress bar that is introduced, but I can't find that.

Thanks a lot in advance.

 

[navinball]

Financial institutions are not supposed to reveal customer data to anyone. I don't think cic can call and get much info.

 

[ra85]

Financial institutions are not supposed to reveal customer data to anyone. I don't think cic can call and get much info.

Thank you very much for your prompt reply.

So, do I need to do anything to inform CIC/IRCC of change in status of POF so that it does not impact the final result ?

Thanks again.

 

[ra85]

Can anyone pl guide, whether one should notify CIC/IRCC of change in status of POF post AOR, so that it does not impact the final result.

Thanks in advance.

 

[navinball]

you dont have to inform anything. you still have access to all the funds.

 

[ra85]

you dont have to inform anything. you still have access to all the funds.

Thanks for the confirmation. Cheers

 

[Harneetksidhu]

Financial institutions are not supposed to reveal customer data to anyone. I don't think cic can call and get much info.

Hi,

Situation:-

After getting the ITA nearly 3 months back, I submitted all the required docs online for PR (single). I see that the medicals are cleared and am not aware of the status or stage where the application is in.

For Proof of Funds, I had submitted CASH AT BANK (CAD 10,000) plus LIQUID MUTUAL FUNDS (CAD 6,000), amounting to around CAD 16000 (approx CAD 12,500 was the requirement).

I have now sold LIQUID MUTUAL FUNDS worth (CAD 4,000), the amount is directly credited to my savings bank account. In total the net POF remains the same but the amount in BANK and LIQUID MUTUAL FUNDS have changed.

My questions are:-

1. What CIC or IRCC do to verify the POF and when? Do they directly call them?

Is that a problem, if they do call and find that the amount mentioned at the time of submission is different/changed/transferred etc. than what they have verified now ?

Technically, do we need to maintain the POF amount as well as bifurcation of amount in different accounts after submission of all docs online ?

Given the situation and if necessary, what action should be taken from my end.


2. When can one expect the result as it is already 3 plus months post submission of all docs online. I learned that there is a progress bar that is introduced, but I can't find that.

Thanks a lot in advance.

I worked at a bank before- If its Government then we have to provide clients information. But as far as I know you should be good because at that point of time when you made the letter you actually had that much funds. So you are good.

 

[ra85]

I worked at a bank before- If its Government then we have to provide clients information. But as far as I know you should be good because at that point of time when you made the letter you actually had that much funds. So you are good.

Thank you very much. My only concern is whether I should inform the IRCC that I sold the mutual funds and the money is now in my savings account. Even though I have the funds available as I had them before, but if I don't inform about the development, would it fall under "change in circumstances" ? Thanks

 

[Harneetksidhu]

Thank you very much. My only concern is whether I should inform the IRCC that I sold the mutual funds and the money is now in my savings account. Even though I have the funds available as I had them before, but if I don't inform about the development, would it fall under "change in circumstances" ? Thanks

Hi. Don't worry - You are good as long as you have funds. You don't need to inform about mutual funds.

 

[ra85]

Hi. Don't worry - You are good as long as you have funds. You don't need to inform about mutual funds.

Thank you!!!