Funding letter. Received large sum about 2.5 months before expected ITA.

[imtiazali]

Hey guys. I am in an unusual situation. I intend to submit my EE profile by Feb 2018. I cant right now because of personal issues. I am confident about my chances of getting selected in Feb 2018 because my CRS is 501 and I want to submit my application in March 2018.

I received a large sum of money last week from my relatives due to some long overdue debt (2 years). I read that you need to submit 6 months of bank statements.

That means that if I get an ITA by Feb 2018 and submit an app by March 2018, then I will be providing a statement with this large sum of money in it. I read somewhere that you need to attach an affidavit if you receive a gift but this is not a gift. It is repayment, but I do not have any official doc since this was informal. Do I still need to be worried that authorities will see this large sum and be suspicious? Mind you it was received before I expect to get an ITA. Any help us appreciated. God Bless!

 

[santosh3086]

Hey guys. I am in an unusual situation. I intend to submit my EE profile by Feb 2018. I cant right now because of personal issues. I am confident about my chances of getting selected in Feb 2018 because my CRS is 501 and I want to submit my application in March 2018.

I received a large sum of money last week from my relatives due to some long overdue debt (2 years). I read that you need to submit 6 months of bank statements.

That means that if I get an ITA by Feb 2018 and submit an app by March 2018, then I will be providing a statement with this large sum of money in it. I read somewhere that you need to attach an affidavit if you receive a gift but this is not a gift. It is repayment, but I do not have any official doc since this was informal. Do I still need to be worried that authorities will see this large sum and be suspicious? Mind you it was received before I expect to get an ITA. Any help us appreciated. God Bless!

Nothing to worry as long as you have minimum funds required in your account. The best thing to do here would be to put the required amount or little higher amount than that in FD. Use FD as POF. Along with that you can submit last six months bank statement too. All the best!!

 

[imtiazali]

Nothing to worry as long as you have minimum funds required in your account. The best thing to do here would be to put the required amount or little higher amount than that in FD. Use FD as POF. Along with that you can submit last six months bank statement too. All the best!!

Thanks for the response! I was worried because I read that if you deposit large sums after ITA, it looks suspicious. But I received this before ITA. Also, are you aware if the CIC people reach out for clarifications in case of confusion or do they straight up reject id they find this suspicious? I can explain that this was for an overdue loan from a close relative.

 

[DelPiero07]

Whether you receive it before or after receiving an ITA is irrelevant, if you have received any lump sum amounts within the past 6 months to meet the required funds then you should provide evidence of where that money came from.