thanks; how about liquidating money in a brokerage account and transferring that to a bank account?
Proof of Funds (Express Entry)
- Thread starter ThisIsHoof
- Start date
If you are providing 6 months bank account statement that has a credit from your brokerage account, you can add letter of explanation for fund source and include your brokerage account statement as proof indicating the amount that was transferred to your bank account.
Quick question guys, my company's PF is exempted one and they run their own PF trust.
I know that we need to show PF balance certificate stating withdraw-able balance but they are not issuing any.
So If I present only PF Statement , would that be enough for PoF.
Thanks in advance.
I know that we need to show PF balance certificate stating withdraw-able balance but they are not issuing any.
So If I present only PF Statement , would that be enough for PoF.
Thanks in advance.
I do not think so. CIC may consider your fund to be not immediately accessible to you unless you provide a letter from PF body that confirms otherwise.
I managed to get the certificate stating withdraw-able amount. Thanks anyway.
Does it worked out for you??
Because my case is also somewhat complicated.
I am planning to take PL for the proof of fund on the basis of my salary. My salary account is S1.
1. I will get the loan amount disbursed in joint bank account A1
2. I will transfer that money in my father's bank account B2.
3. Than my father will give me that amount as gift in my saving bank account B3. Where i don't have any other transactions.
4. My ECS will be from my salary account S1.
I am planning to show only Account B3 in proof of fund.
My question is will it be ok to do so?
Do i need to show salary account S1 for proof of fund or for experience proof.?
Can you help me out with my case.You need not show the account which has loans.
In general, IRCC doesn't ask for bank statements, they ask for bank balance certificate.
http://www.cic.gc.ca/english/immigrate/skilled/funds.asp
Proof of Funds Letter Requirements:
- be printed on the financial institution’s letterhead
- include their contact information (address, telephone number and email address)
- include your name
- list outstanding debts such as credit card debts and loans
People also appending 6 month bank statement as IRCC tend to ask in later stages of processing as an ADR. If the statement highlights any large deposits, they are substantiating with additional document to legitimize, amount is not made out of loans and unencumbered.
- include, for each current bank and investment account:
- account number
- the date that account was opened
- the current balance of your account
- the average balance for the past six months
You can provide your salary account , if you very sure you can maintain said minimum balance till you receive PPR. Add deeds and other documents you already have with well composed LOE to aid your case.
All the best
Because my case is also somewhat complicated.
I am planning to take PL for the proof of fund on the basis of my salary. My salary account is S1.
1. I will get the laon amount disbursed in joint bank account A1
2. I will transfer that money in my father's bank account B2.
3. Than my father will give me that amount as gift in my saving bank account B3. Where i don't have any other transactions.
4. My ECS will be from my salary account S1.
I am planning to show only Account B3 in proof of fund.
My question is will it be ok to do so?
Do i need to show salary account S1 for proof of fund or for experience proof.?
Frnds currently I have required amount for express entry... How about I lend some one about 4000usd and he returns me in few weeks(both in n out through onlineline trasaction)... Will that money received to my account accepted as proof of funds... Or will I have to give explanation for tht amount...
Hi,
I have received ITA recently and gathering the documents. I am the principal applicant and my husband is the dependent and would be accompanying me to Canada. We both reside in USA and I am showing his bank statements as POF ( USA bank account) . What are the required documents to be shown as part of POF as I am the principal applicant and the bank account is not a joint account.
I would also like to know incase if he is not accompanying me to Canada can I still show his bank funds as POF and what are the documents needed for that?
I have received ITA recently and gathering the documents. I am the principal applicant and my husband is the dependent and would be accompanying me to Canada. We both reside in USA and I am showing his bank statements as POF ( USA bank account) . What are the required documents to be shown as part of POF as I am the principal applicant and the bank account is not a joint account.
I would also like to know incase if he is not accompanying me to Canada can I still show his bank funds as POF and what are the documents needed for that?
It would be better to avoid these complications. Such a large deposit will surely raise questions. As far as possible keep documentation simple.
Document required is Letter(s) that must
- be printed on the financial institution’s letterhead
- include their contact information (address, telephone number and email address)
- include your spouse name
- list outstanding debts such as credit card debts and loans
- include account numbers, date each account was opened, current balance of each account and average balance for the past 6 months/6 month statement
- declaration from your spouse that you will access to the funds in his account for immigration purpose.
https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/documents/proof-funds.html
"If your spouse is coming with you, you can count money you have together in a joint account. You may be able to count money in an account under their name only, but you must prove you have access to the money."
If I deposit my entire salary in my savings account for the next 3 months to reach the required proof of funds, will I be flagged on this? I have all the requirements but I’m half way through the POF required.
Or once invited, I just have to provide my payslips on these months?
Or once invited, I just have to provide my payslips on these months?
Thank you so much
Is there any format for the letter that my spouse needs to give me and also any format that the bank needs to give us on their letterhead?Hello Hadi,Hey, everyone!
I'm new to this forum! I hope you guys don't mind if I ask a question.
So my wife and I received our ITA (I'm the main applicant), but we are a bit confused about the Proof of fund.
I'm a Ph.D. student at the University of Toronto. My current bank balance is a bit over 10K, and I wonder if I can use my University funding as the proof of fund.
I have my admission letter+Scholarship letter+ a letter from the associate dean of the faculty which she wrote a few days ago 1) outlining the funding (Tuition and fees+30K stipend per year), 2) indicating that the funding is guaranteed till September 2020, 3) explaining my current standing in the program, assuring the officer that I'm doing well in my courses and stuff. In addition, since I just finished my first year, I can show bank records of how university have been paying me since last September.
Having said that, do you think I can use my Bank statement of 10K + my scholarship letters + the Associate Dean's letter as the proof of fund? Or I still need to show that 15K bank balance?
I'll be very grateful if you guys help me with this
Thanks in Advance,
Hadi
How did you handle this? I am in the same position too.
I will appreciate your reply.
Thanks,
OON
No, if you explain the source of fund by attaching your payslips, it should be okay.