POF : 6 months average balance requirement
- Thread starter vsgautam
- Start date
Ok Guys ,
One more POF question ..
If the bank is giving you letter which has current balance and six month average , do we still need to submit last 6 months statements/transactions ?
If someone says "no need of statements if bank letter has all details " in this case , then we all are safe from that gift ,loan things na .. because anyway the letter is just going to tell 6 month avg and curr. balance ... it doesnot tell how u got those funds ...
One more POF question ..
If the bank is giving you letter which has current balance and six month average , do we still need to submit last 6 months statements/transactions ?
If someone says "no need of statements if bank letter has all details " in this case , then we all are safe from that gift ,loan things na .. because anyway the letter is just going to tell 6 month avg and curr. balance ... it doesnot tell how u got those funds ...
purohit
Star Member
- Feb 5, 2015
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This is the precise reason why u need to send 6 months statements, for CIC to verify the source of funds. So whether u show 6 month average balance or not, u have to send 6 months statementssraj07 said:
thanks for the response ... My next question is there is no issue with pof , but I have CCs payments running every month from that acct .Will that be an issue . I mean should I explicitly get letter from the bank on my CC also , since the statements show that I pay my CC every month hence CIC will find out my CC ?
No need of statements if the letter mentions 6 months average balance is True. Provided your average balance is very close to or higher than your present balance. If it is much lesser than your present balance, you have to conclusively explain the difference and prove the source of funds which is causing this difference.
In your case, if requirement is 18000 CAD, present balance is 18500 CAD and 6 months average balance is 17500 CAD, you don't need to provide balance statements of last 6 months because there is no significantly large difference that needs to be explained. Also note that, in this example, 6 month average balance is less than required funds and that is also fine.
Hope that clarifies. All the best!
In your case, if requirement is 18000 CAD, present balance is 18500 CAD and 6 months average balance is 17500 CAD, you don't need to provide balance statements of last 6 months because there is no significantly large difference that needs to be explained. Also note that, in this example, 6 month average balance is less than required funds and that is also fine.
Hope that clarifies. All the best!
Hello all,
I have received a PT for OINP and I am planning to apply for the nomination. However, I am planning to take funding from my father to show that I can have the 12000CAD in my account as a gift which I had been planning for sometime. I have the funds in cash but not in the account. My 6 month bank statement does not reflect anywhere close to 12K CAD.
I plan to deposit the cash in my account and take the statement for the last six months and also attach an LOE saying that the funds were a gift from my father. Will it be okay?
I would really appreciate your advice.
I have received a PT for OINP and I am planning to apply for the nomination. However, I am planning to take funding from my father to show that I can have the 12000CAD in my account as a gift which I had been planning for sometime. I have the funds in cash but not in the account. My 6 month bank statement does not reflect anywhere close to 12K CAD.
I plan to deposit the cash in my account and take the statement for the last six months and also attach an LOE saying that the funds were a gift from my father. Will it be okay?
I would really appreciate your advice.
thatguy56 said:
Yes I got an Affidavit of this letter. I think Asivad can advice you more on this
You will have to attach a signed self-declaration from your father that they are extending this gift to you and that it is not a loan which needs to be returned at any point in time. That letter must also mention all possible transaction details.thatguy56 said:
Asivad Anac said:
I have done the same thing. However, I had 2 months bank statements back then as my account was newly opened with salaries going into that account and balance being CAD 12,500 as required. Now that I have received the AOR should I send OOPNP the remaining bank statements up till this period of time? which is about 5 months bank statements now or should I just wait as they did not ask me for any additional bank statements so far?
No harm in sending them additional documentation clearly explaining why you are sending them out at this point in time.OmarSarfraz said:
So without asking them its okay to send them the additional bank statements that I have now with a letter of explanation, so that they know the funds are with me.Asivad Anac said:
Should I also mention the AOR number?
Perfectly fine in sending them additional relevant documentation, do quote your AOR number for reference. Whether you must send this now or wait for them to ask before sending anything is your call.OmarSarfraz said: