Confusion about settlement funds for OOPNP

[NisargShivali]

Hello everyone,

I have one simple doubt.
As per my situation, I have to show $14,853 as settlement fund for OOPNP.
Is it necessary to have this amount to be there in my bank account for the last six months? Or I can deposit fund and show my last six months statement showing this fund?

Thank You in advance.

 

[faridshariff]

Hello everyone,

I have one simple doubt.
As per my situation, I have to show $14,853 as settlement fund for OOPNP.
Is it necessary to have this amount to be there in my bank account for the last six months? Or I can deposit fund and show my last six months statement showing this fund?

Thank You in advance.

It is not necessary to have the money in your account from 6 months as long as you can justify the source of the money. If you are planning to deposit large amount at once then proof of source is essential.

 

[sushsmart15]

It is not necessary to have the money in your account from 6 months as long as you can justify the source of the money. If you are planning to deposit large amount at once then proof of source is essential.

Absolutely correct. If you have obtained the money from your father/mother/brother/sister, then get a gift deed signed from that person in which they mention that this money is a gift to you and need not be returned.

 

[NisargShivali]

Thanks a lot sushsmart15 and faridshariff.
You helped me clear my confusions.

Thanks again.

 

[NisargShivali]

hello everyone..

I have one more doubt.
I am from India and have some LIC policies, which I can include in bank statement.
So Can I use it as settlement fund for OOPNP?

 

[Stanlee]

hello everyone..

I have one more doubt.
I am from India and have some LIC policies, which I can include in bank statement.
So Can I use it as settlement fund for OOPNP?

No, you cannot use LIC policies as proof of funds.

 

[NisargShivali]

Thank you stanlee..

What about fixed deposit?? Can I show that?

 

[Stanlee]

Thank you stanlee..

What about fixed deposit?? Can I show that?

Yes, you can show FDs, RDs, Savings Account balance (single and joint).

 

[jj0502]

Thank you stanlee..

What about fixed deposit?? Can I show that?

Yes fd will do

I have also shown fd's

 

[NisargShivali]

Thank you all..

 

[jj0502]

Thank you all..

What is ur timeline nisarg ?

Did u recieved pt ?

 

[NisargShivali]

No.. I just recreated my EE profile 10 days ago..
And waiting for PT notification and preparing fund in advance..

What about you??

 

[Smile24x7]

Hello Stanlee,

Sorry to send you a message out of a sudden but I am in a hard situation and really want to seek for your knowledge and guidance..

So I am currently applying for the OINP and I am in a situation where my Mom gave me an amount of cash equivalent to CAD 15,000 (I guess we always do that in our country where people prefer keeping cash to other means), which is meant for me to place it in my bank account to process the OINP application.

So after receiving the cash, I opened a saving account at the bank last month in February 2016 and had the bank issued the Bank Letter stating the current balance of all my accounts (including my personal checking accounts and my saving accounts) of roughly CAD 17,000.

My question is for this case, would I be required to provide the Gift Deed Letter? I suppose yes 'cause CAD 15,000 has not been sitting in my bank for over 6 months yet?

If so, which would be the other required documents that could help me to support my case?

Please much appreciated for your response. Thank you very much Stanlee.

Best regards,
Gina

 

[Stanlee]

Hello Stanlee,

Sorry to send you a message out of a sudden but I am in a hard situation and really want to seek for your knowledge and guidance..

So I am currently applying for the OINP and I am in a situation where my Mom gave me an amount of cash equivalent to CAD 15,000 (I guess we always do that in our country where people prefer keeping cash to other means), which is meant for me to place it in my bank account to process the OINP application.

So after receiving the cash, I opened a saving account at the bank last month in February 2016 and had the bank issued the Bank Letter stating the current balance of all my accounts (including my personal checking accounts and my saving accounts) of roughly CAD 17,000.

My question is for this case, would I be required to provide the Gift Deed Letter? I suppose yes 'cause CAD 15,000 has not been sitting in my bank for over 6 months yet?

If so, which would be the other required documents that could help me to support my case?

Please much appreciated for your response. Thank you very much Stanlee.

Best regards,
Gina

You will need the following
1) Gift Deed
2) Bank Account Statement
3) Letter from your bank as mentioned in the OINP Application Guide
4) Letter of Explanation explaining your situation.

One question out of curiosity, before opening the fore mentioned bank account, you never had a bank account in your name?

 

[Smile24x7]

Hi Stanlee,

For your question, I have the bank accounts in my name including saving and checking accounts where I have roughly CAD 2,000. On the other note, the mentioned bank account which is recently opened is also under my name.

Could you kindly explain further on what you mean by Gift Deed? And also since the money was given in cash, showing my bank statement would not prove any large transactions during this time. Hence would it be necessary for my bank statement to be submitted?

Thanks Stanlee.
Gina