Hey everyone, I am stuck at a point where I am not able to decide which way to go? For POF I am planning to declare 3 bank accounts, 2 belongs to me and 1 belongs to my wife. Now the problem is I have multiple bank accounts and funds were scattered around various bank accounts and Mutual Fund, I started consolidating funds more than 4-5 months back but still last 6 month bank statement will show huge amounts being credited apart from salary. In this case, do I need to declare all other bank accounts as well? Or a simple explanation in LOE about why such huge amounts were credited and from where is okay? Any guidance in this regard is appreciated.
Proof of fund - Do we need declare all bank accounts?
- Thread starter maradona007
- Start date
It is best to declare the source from where the huge funds were credited. So definitely include those accounts. You may skip some lower value ones. That way you would have the evidence to support the explanation you give in your LoE. Don't forget the LoE, however.
Thanks rower for valuable inputs, additionally how about credit Card disclosure? I have more than a dozen, do I have to attach the latest statement from all the credit card or any 1-2 statements shall be okay? Because if I don't disclose credit cards won't it account for misrepresentation? P.S: I don't have any outstanding across any credit card, I don't have anything to hide, I just want the process to be smooth rather than confusing for the immigration officer.
The requirement here is a letter from the bank, where your funds are parked, certifying the total clear funds available to you after offsetting any debts or liens you may have. Credit card statements don't represent proof of funds, if you exclude them it is not misrepresentation. Bank statements are evidence to supplement the bank letter of your proof of funds or to the LoE you may provide so it is good to include them. But for CC statements statements I personally don't see any value in adding them.
Great! Thanks mate And I guess even after meticulous documentation in place of immigration officer have any query, they may request for ADR, at that time I can justify whatever doubt they might have.
I forgot, one last thing here! If my bank statement reflects a cheque deposited by my father, having considerable amount do I need to get a gift deed? It's not a recent one either, the transaction is 5 month old, but it's better to get a gift deed isn't it?