Code:
Hi All
I received the following Additional Doc Request for POF today from OINP:
The Ontario Immigrant Nominee Program is currently assessing your Nominee Application for Ontario Express Entry
Please submit the below information/documents as soon as possible.
Program criteria requires that you possess sufficient funds to cover settlement costs in Ontario.
Funds must be unencumbered, readily transferable in a convertible currency, and supported by bank statements.
[b]From the review of your application it appears that some of your funds are in fixed deposit certificates.[/b]
Funds must be unencumbered and readily available, and cannot be locked for an unspecified period of time.
-[b]6 months of most recent bank statements (June 2016-November 2016). The bank statements should show your name and account balance.[/b]
You will be allowed 15 calendar days from the date of this correspondence to provide the above documentation and/or information in support of your application.
Should the program not receive a response to this request within 15 calendar days, your application will be assessed against the information and documentation received to date.
You may mail the documents to the address listed below or scan the original documents in pdf format and attach them to this email thread and click reply without changing the subject line.
I am faced with the following queries:
1. With OINP mentioning the statement: "From the review of your application it appears that some of your funds are in fixed deposit certificates.Funds must be unencumbered and readily available, and cannot be locked for an unspecified period of time." Do they not acknowledge FD as readily transferable liquid money which can be easily broken?
2. LETTER OF EXPLANATION: When submitting my original application, i had submitted my Proof of funds in the following away and supported them with a letter of explanation:
Portion A: Last 6 months Bank Statement showing approx 50% of the fund requirement (approx 12K-13K CAD)
Portion B: A list of 8 or 9 Fixed Deposit Certificate photocopies along with a table of their total values provided in the letter of explanation, making up the remaining 40-50% requirement (approx 12K - 13K CAD)
I deliberately showed higher funds than the minimal LICO (approx 25K) to adjust for currency fluctuation considering the wait period ahead. Lastly i specifically mentioned in BOLD that of these 25K, I would be bringing 21K to Canada for settlement purposes.
Considering the above and Ontario's response on POF, what should i do? Do i necessarily need to have all the 21K in my Savings account? Which means do i necessarily have to break all those FDs now at this stage?? and then resubmit the higher balance account statement? Breaking these FDs would also need a week's time which means these funds will suddenly jump in my Savings account in December whereas they require a 6 months statement from June - November as per their email.
Or do i resubmit the same configuration of Proof of Funds - i.e. 50% in Savings Bank + 50% in FD Certificates?
Requesting an urgent clarification on this scenario from all seniors ... please do help!