OOPNP / OINP proof of funds documentation

[AmirHNK]

There's no mention of anything being signed and stamped on either the form or the guide. Maybe OINP is different to POF for ITA.

I could get the documents certified by my solicitor. Is that worth doing?

I only included printed copies of my online eStatements (includes my complete account info + all the transactions made each month) form my (Canadian) chequing account in my application package. As you said, it does not mentioned anywhere in the application guide that you need to get them signed/stamped. I would have gotten them signed/stamped if I was sending proof from a foreign bank.

Also, I did not have the full $12000 funds at the time and wanted to send my application package asap, so I moved some money from my line of credit to my chequing account to make the closing balance on my last statement >= $12000. I called OINP about having some dept and I was told that they didn't care as long as I had proof of enough money in my chequing/saving account.

We will see how it goes 8)

 

[dansousa]

Hey guys,

I've just received the interest from Ontario.
Speaking about proof of funds, that's my current situation:
I have a family of 4 in my application so I'd have to prove around CAD 22k.
I have around 10K AUD available in Australia where I currently live.(approx CAD 9.9k)
I also have some money back in Brazil where I was born but it is in a joint account with my mum(had to do this so she could administer the $$$). There's around CAD 8K in a savings account and there's around CAD 30k in investments.

First, How should I do with the overseas money? Do I need to do any conversion of just send the balance in the country's currency. IN the case of Brazil, it would be in Portuguese and I believe I'd have to ha the statements translated to English, right? Again, Is any conversion required?

Finally, Do they accept the money that is in an account with "My Name/My Mother Name" on it? Do I have to do anything with the investments?

Thanks

 

[Stanlee]

Hey guys,

I've just received the interest from Ontario.
Speaking about proof of funds, that's my current situation:
I have a family of 4 in my application so I'd have to prove around CAD 22k.
I have around 10K AUD available in Australia where I currently live.(approx CAD 9.9k)
I also have some money back in Brazil where I was born but it is in a joint account with my mum(had to do this so she could administer the $$$). There's around CAD 8K in a savings account and there's around CAD 30k in investments.

First, How should I do with the overseas money? Do I need to do any conversion of just send the balance in the country's currency. IN the case of Brazil, it would be in Portuguese and I believe I'd have to ha the statements translated to English, right? Again, Is any conversion required?

As long as you can prove that the funds are in your name (through statements and letter issued by the bank), it does not matter whether the money is overseas. Yes, the letter and statements will have to be translated into English.

The letter should be printed on the bank's letter head and state the following.
1. Your name
2. Type of account/accounts held with the bank including account numbers
3. Date of account opening
4. Balance as on date (in local currency) and equivalent in Canadian Dollars (converted using day's spot rate)
5. Statement that funds are unencumbered and readily transferable in a convertible currency (all banks may not be ready to mention this, but you can still try, if you get it, it will be a bonus)

Additionally, you will need 6 months bank statements and other savings proofs (depending on what type of savings instrument it is). Any document which is not in English will have to be translated and notarized.

Finally, Do they accept the money that is in an account with "My Name/My Mother Name" on it? Do I have to do anything with the investments?

Yes, as long as you can prove through documents that you will have unrestricted access to the funds. For the joint account, you can get a self declaration from your mom stating the she has no objection in you using the funds and you have full access to the funds.

By investment account, if you are referring to any volatile financial asset, then I am afraid, it cannot be shown as POF. Instead you can show savings bank balance (last 6 months' statements, fixed deposits (receipts stamped by the bank) all which shows your name clearly. May be, you can even liquidate your investment account and create fixed deposits out of the proceeds.

Thanks

 

[dansousa]

Thanks mate.

I'll organise this documents the best as I can and pray....

 

[Stanlee]

Thanks mate.

I'll organise this documents the best as I can and pray....

All the best!

 

[dansousa]

Hey guys,

I've spoken to my manager at the bank and found the the statement with 6 months won't have much of the identifying information.

So I was thinking to get a letter from him stating all the required account details including the balance, including the amount is unencumbered as well.
Is it OK if he does it already in English, considering the bank is in Brazil? Or does he have to do it in Portuguese and I have it translated and notarized?
Do I have to send the originals or just copies? I ask because I live in Australia, I'll have to have it done in Brazil, sent to Australia, translated here and notarized and then sent to Canada...

Thanks

 

[Stanlee]

Hey guys,

I've spoken to my manager at the bank and found the the statement with 6 months won't have much of the identifying information.

So I was thinking to get a letter from him stating all the required account details including the balance, including the amount is unencumbered as well.
Is it OK if he does it already in English, considering the bank is in Brazil? Or does he have to do it in Portuguese and I have it translated and notarized?
Do I have to send the originals or just copies? I ask because I live in Australia, I'll have to have it done in Brazil, sent to Australia, translated here and notarized and then sent to Canada...

Thanks

If the letter is issued in English, then you can send it straightaway . If any documents/statements which you are submitting is issued in Portuguese, only those needs to be translated. You will have to send the original letter, that is what I did. After all at a later stage if they need another one, your old letter will not have the latest transactions, so there is no point keeping the original with you. That time, you will have to get a fresh letter issued which would have the latest bank transaction and balance details.

 

[Binette]

I have received interest from Ontario, l would like to know if l can use my USA 401k account for proof of funds?

 

[dansousa]

If you can prove that the money is unencumbered and you can withdraw at any time, that shouldn't be a problem.
The $$$ MUST BE IMMEDIATELY AVAILABLE for you so if when you arrive in Canada and they ask you to show them the money, you can just "show them the money".
I'm not familiar with the 401K from US but i believe it's something like a retirement account. If it is, that may be a bit hard but as I said before, I don't know how that works so...

Hope it helps

 

[Binette]

If you can prove that the money is unencumbered and you can withdraw at any time, that shouldn't be a problem.
The $$$ MUST BE IMMEDIATELY AVAILABLE for you so if when you arrive in Canada and they ask you to show them the money, you can just "show them the money".
I'm not familiar with the 401K from US but i believe it's something like a retirement account. If it is, that may be a bit hard but as I said before, I don't know how that works so...

Hope it helps

Thank you for the feedback

 

[bensharonrose]

Hi guys,

I received the letter of interest from Ontario province yesterday based on my NOC code and I am writing from Chennai, India.

Total family members: 3
proof of funds as per LOC: $18825

I am yet to arrange the proof of funds in my bank account. So as my letter of interest is eligible for only 6 months and as I need to maintain a proof of funds for a period of 6 months, currently I appear to be not meeting the eligibility requirements.

Can you please confirm if I can make a new FD now equivalent to Canadian dollar $18825 to my bank account will it make me eligible for meeting the proof of funds criteria??

 

[alket.z]

Hi everyone,
My bank account has not sufficient funds so my parents came to help. They gifted me the 12,500 CAD and I got that as a gift deed, but I am concern if the ONIP that requires 6 months statement. If I apply now will it be a problem or I have to wait for 6 months before applying?! What do I do ?

Thanks in advance man, really appreciate your help.

 

[Juno Mishel Sebastian]

Hi,
I needed a help regarding information for OINP.
I have got NOI on August 1 2019. I have less time to submit my application so needed your help in this. I am in the process of creating the application under human capital priority stream
Had a few queries,so help would be greatly appreciated:
1. For proof of funds , its mentioned i can submit last 3 months bank statements . It should have bank account number. I tried downloading the e-statement from my bank. In that the account number is mentioned but it is masked ie like xxxxxx3466. So would it be fine?
2. Do i need to get some additional bank letter stating the entire account number and sign from bank official, or the e-statement would be fine.
3. I could see there is an intention to reside section. I am not sure what to mention in that. I do not have any relatives in Canada, but some of my friends stay in Ontario. Could someone please guide on what to write in that?

I have only 15 more days to submit,sk could someone please guide me.
Thanks a lot for your help

Regards,
Juno