A complete way to nail 'Source of fund' dilemma!

[Yaman555]

Hello everyone,

I posted about this earlier in a single topic and I don't know if there's a section for these kind of questions.

I'm in the process of gathering my docs, however, regarding the proof of funds, one of my family members owes me some money and she will send them in the upcoming months to my bank account (around 17,000 CAD).

When I do my proof of funds, will this be a problem? my brother sent her the money like 6 months ago on my behalf and she's giving them back, how would they consider this? I'm now nervous since I was reading that the money should be unencumbered.

I mean it's my money after all!

Thank you.

Additional info: she's living in Canada and I can't ask her for her bank statement, If I got the money let's say by mid June and I submitted my application mid October, is it a problem? if yes, what should I do? Thank you all, but I'm in panic mode right now.

Thank you.

 

[vishalg]

Thank you a lot Vishalg.
His account didn't have the full amount during the last 6 months, and I'm afraid that CIC asks about his source funds, do they sometimes ask about this (the doner's source of funds)??

check this thread ( about 10 pages back), someone got PPR without showing the donor's statements.

 

[vishalg]

Hello everyone,

I posted about this earlier in a single topic and I don't know if there's a section for these kind of questions.

I'm in the process of gathering my docs, however, regarding the proof of funds, one of my family members owes me some money and she will send them in the upcoming months to my bank account (around 17,000 CAD).

When I do my proof of funds, will this be a problem? my brother sent her the money like 6 months ago on my behalf and she's giving them back, how would they consider this? I'm now nervous since I was reading that the money should be unencumbered.

I mean it's my money after all!

Thank you.

if you have any paperwork to prove the money is yours and she is just paying you back then no issues at all. Else, you would need a gift deed from her.

 

[Yaman555]

Hi all, I just got my PPR and I wanted to thank Anujgupta for this information. It helped me immensely for filing my application successfully.

Just for the information of others in need, below is the list of documents that I submitted as a POF.

1. Letter from my bank (Punjab and Sind Bank) stating my Name, Account No. and Current Account Balance. (This letter is called as Balance Certificate)
2. Gift Deed From my Father containing the transfer details of money(like account no., cheque no, PAN card No.,).
3. Affidavit from my father.
4. Scanned copy of the cheque which was used to transfer funds in my account.
5. Six months statement of my account showing the transfer of money in my account through cheque.

Thats it guys. I did not submit the net worth certificates or the account statement of my father. I hope it helps.

I believe you were referring to this post? if that's the case, regarding No. 2 the gentleman said: "like account no., cheque no, PAN card No." is there any detailed form if she's transferring from a bank account? also, I didn't quite understand No. 3

I'm sorry to bother all of you, but I'm new to this and I certainly have no insights in these things so kindly bare with me.

Thank you.

 

[aarchitj]

I have a few queries

1. I got a letter from the Post Office in the required format. However, the Postmaster has simply signed it (under the title "Postmaster") and stamped it. He did not put his name. Is that ok ?

2. The Bank letter which should give average monthly balance, should this include the balance from deposit accounts as well ?

 

[vishalg]

I believe you were referring to this post? if that's the case, regarding No. 2 the gentleman said: "like account no., cheque no, PAN card No." is there any detailed form if she's transferring from a bank account? also, I didn't quite understand No. 3

I'm sorry to bother all of you, but I'm new to this and I certainly have no insights in these things so kindly bare with me.

Thank you.

fo internet transfer just mention the transaction number that would mentioned in the receipt generated after the transfer ( upload that copy as well, bo need for PAN, they are not verifying donor's income tax status)
3. Just a gift deed that mentions that mentions all relevant details is enough

 

[akashbhalla89]

Hello Vishal g and other experts,
I am a student studying in Canada and for proof of funds I have asked my mother and grandmother to give me gift deed. So, will it be fine if I put that into my Indian bank account?
Documents what I am planning to attach
1. Gift deed
2. Affadavit from mother and grandmom
3. My account certificate after amount has been added
4.Copy of cheque used

Do i need to add my mother & grandmother's account statement as well to show that they have not taken any loan and this amount just come out of their FD's.
Also do i need to show networth certificate of mom and dad?
And also do i still need to show my 6 months statement.
Thanks in advance

 

[hammadtaj]

Guys can I use my wife funds as POF? If yes do I have to transfer that amount in my account or only show her statement? Do I have to also show the source of funds in my wife account?

 

[Shivanker]

Hi Seniors,

I am in the process of getting my POF sorted. ill be getting the whole amount from my mom as a gift. can i put this cash in a 6 month FD? or should the maturity date be less than 6 months?

 

[rkhan15]

Hi Members,

I got my proof of account letter from my bank in USA. It provides my name, address, available balance and date account was opened. However, my bank will only put last four digits of my account number in this letter and will not show the whole account number as their standard policy; this is normal in US. Will this cause an issue with my application at CIC?

Please note that the six month statements do have the full account number but it's only this letter that they won't provide the full number on. I would really appreciate any help on this issue from people filing from USA.

 

[vishalg]

Hello Vishal g and other experts,
I am a student studying in Canada and for proof of funds I have asked my mother and grandmother to give me gift deed. So, will it be fine if I put that into my Indian bank account?yes
Documents what I am planning to attach
1. Gift deed
2. Affadavit from mother and grandmom
3. My account certificate after amount has been added
4.Copy of cheque used
Documentation is fine
Do i need to add my mother & grandmother's account statement as well to show that they have not taken any loan and this amount just come out of their FD's.Not required, but people keep it as a safety measure
Also do i need to show networth certificate of mom and dad?Not required
And also do i still need to show my 6 months statement.if you don't get a proper letter from bank then you would need to get the statements.
Thanks in advance

 

[vishalg]

Hi Seniors,

I am in the process of getting my POF sorted. ill be getting the whole amount from my mom as a gift. can i put this cash in a 6 month FD? or should the maturity date be less than 6 months?

Your mom can transfer the funds from her account to yours and you can get a gift deed from her. If this is all cash transaction you would need to prove the source of the money which could be challenging.

 

[vishalg]

Hi Members,

I got my proof of account letter from my bank in USA. It provides my name, address, available balance and date account was opened. However, my bank will only put last four digits of my account number in this letter and will not show the whole account number as their standard policy; this is normal in US. Will this cause an issue with my application at CIC?

Please note that the six month statements do have the full account number but it's only this letter that they won't provide the full number on. I would really appreciate any help on this issue from people filing from USA.

I guess you are getting the letter from Bank of America. Upload the statements along with it. This is what other applicants are doing

 

[vishalg]

Guys can I use my wife funds as POF? If yes do I have to transfer that amount in my account or only show her statement? Do I have to also show the source of funds in my wife account?

You can use your wife's funds for POF. Get a declaration from her that she allows you to utilize the funds for immigration purpose and she will be accompanying you upon receiving the COPR. If the funds are less than 6 months old then you would need to show the money trail.

 

[Shivanker]

Your mom can transfer the funds from her account to yours and you can get a gift deed from her. If this is all cash transaction you would need to prove the source of the money which could be challenging.

Yes understood. However my question is if it's OK for me to put it in a 6month FD? Or should I put it in a 3month FD