Proof of Funds (Express Entry)

[HARMAN08]

Although I would say gift deed is enough, if you can manage to obtain No objection certificate from her partner, it would be better.
All CIC would investigate is that the source of the amount isn't loaned and unencumbered. Gift deed with notarization would suffice in my opinion.

Hi Sundar, thanks a lot

 

[sundar17feb99]

Hello everyone,

My wife is currently awaiting her ITA with a score of 440. I will need some advice as regards our POF. We are a family of 3 so the required amount is 19095 CAD. I have been able to get the total fund from my Dad. It was transferred into my wife's account since she's the principal applicant.
The money wasn't transferred once but in 6 installments consecutively with comment that it's for canada PR. My questions are as follows;

1. The money will be 3 months in her account on the 10th of march, it is advisable to use the money when we get ITA even at it that it isn't up to 6 months in her account?

2. Is it also advisable to use all your POF as a gift deed? (19000cad) If yes, I would not mind if I could get a format or prototype to follow

Thanks guys in your anticipated reply

1. You have to maintain the said amount till you receive CoPR. IRCC may anytime ask you to upload recent monthly statement during the cycle of processing.

2. Yes, you can show all your amount as gift deed. Myself, shown my POF through gift deed and haven't encountered issues so far.

 

[sundar17feb99]

Hi Sundar, thanks a lot

All the best

 

[civilunderstanding]

I would encourage you not to transfer the amounts altogether.
Since you are awaiting ITA, plan as below. (You should be composing letter of explanation for the above)

Day 1: Transfer 5000 CAD and provide email proofs for the source.
Day 3: Transfer 2000 CAD with notarised gift deed from your mother.
A reasonable gap
Day n: Transfer 7000 CAD with sale receipts of your land.

Bank balance certificate and 6 month bank statement(not mandatory but recommended) is needed for POF.
Please surf the internet to acquire the format of the certificate. You have to maintain the said minimum amount along the entire process.

Hey Sundar Thanks ! Just few more questions

Do I have to submit a LOE for POF section as well ?
I can also provide 7000 CAD as gift deed from my Dad, do I need to show bank statements of my father ?
If i need to submit a LOE for POF should I also explain everything in that letter ?

 

[FMT]

Sundar, thanks so much.
One more thing, I have the money in a savings account which was opened last June (9 months) so that it would be safe and not be mixed with our day to day living expenses.
Will I need to attach a current account that has been opened for quiet a long time as well or it doesn't matter?

 

[Bafemmy]

Hey Sundar Thanks ! Just few more questions

Do I have to submit a LOE for POF section as well ?
I can also provide 7000 CAD as gift deed from my Dad, do I need to show bank statements of my father ?
If i need to submit a LOE for POF should I also explain everything in that letter ?

Feels good to be back here to encourage and share some experiences.
Special appreciation to @rajhkamalmohanram.

Aor was march18th, 2017
Got PR - Sept 15th, 2017
I landed in Canada, Jan, 28th 2018 to God be the glory.Fellow Canadians, Canada is a beautiful place. stay focus and you will all be here.

ON POF.
My wife was the Principal applicant. We are a family of 4
we need 22k+
What did i do.

I got the entire money, gave my dad, who transferred the money into my wife account
Document submitted
1. Gift of deed
2. Affidavit
3. Dad Statement of account - this was easy because he has a good turn over already, so money came like his usual business
4. My wife account was a savings account, opened like 8month before
5. Letter of Non indebtedness from the bank

Please remember they said " There is no too much document to proof a point" so you are free to upload as much as possible

Before uploading any document, always ask yourself. IF THIS DOCUMENT WAS SENT TO ME, WILL I ACCEPT IT.

All the best

 

[sundar17feb99]

Hey Sundar Thanks ! Just few more questions

Do I have to submit a LOE for POF section as well ?
I can also provide 7000 CAD as gift deed from my Dad, do I need to show bank statements of my father ?
If i need to submit a LOE for POF should I also explain everything in that letter ?

LOE facilitates you straighten out the complexities in your profile. You can provide explanations for any anomalies to your case officer so that it will ease processing from his/her end.
Yes you can arrange gift deed from your dad too and you don't need to furnish his statements. Just have it in handy,just in-case.

 

[sundar17feb99]

Sundar, thanks so much.
One more thing, I have the money in a savings account which was opened last June (9 months) so that it would be safe and not be mixed with our day to day living expenses.
Will I need to attach a current account that has been opened for quiet a long time as well or it doesn't matter?

IRCC doesn't concern about the type of the account, along with a bank balance certificate submit bank statements where you hold your amount for PoF.

 

[sundar17feb99]

Feels good to be back here to encourage and share some experiences.
Special appreciation to @rajhkamalmohanram.

Aor was march18th, 2017
Got PR - Sept 15th, 2017
I landed in Canada, Jan, 28th 2018 to God be the glory.Fellow Canadians, Canada is a beautiful place. stay focus and you will all be here.

ON POF.
My wife was the Principal applicant. We are a family of 4
we need 22k+
What did i do.

I got the entire money, gave my dad, who transferred the money into my wife account
Document submitted
1. Gift of deed
2. Affidavit
3. Dad Statement of account - this was easy because he has a good turn over already, so money came like his usual business
4. My wife account was a savings account, opened like 8month before
5. Letter of Non indebtedness from the bank

Please remember they said " There is no too much document to proof a point" so you are free to upload as much as possible

Before uploading any document, always ask yourself. IF THIS DOCUMENT WAS SENT TO ME, WILL I ACCEPT IT.

All the best

All the best for future endeavors

 

[hs3]

Hello, I was wondering if we actually need those official letters from the bank - or can we show bank statements as proof of funds? I am unsure as to whether banks provide these letters - especially banks like Discover - which I do not think has any location branches. Does anyone have experience with using bank statements OR official letters from the banks in USA? Also, at what stage, will we be required to show proof of funds - do these documents have to be uploaded after ITA? Thanks.

 

[FMT]

Feels good to be back here to encourage and share some experiences.
Special appreciation to @rajhkamalmohanram.

Aor was march18th, 2017
Got PR - Sept 15th, 2017
I landed in Canada, Jan, 28th 2018 to God be the glory.Fellow Canadians, Canada is a beautiful place. stay focus and you will all be here.

ON POF.
My wife was the Principal applicant. We are a family of 4
we need 22k+
What did i do.

I got the entire money, gave my dad, who transferred the money into my wife account
Document submitted
1. Gift of deed
2. Affidavit
3. Dad Statement of account - this was easy because he has a good turn over already, so money came like his usual business
4. My wife account was a savings account, opened like 8month before
5. Letter of Non indebtedness from the bank

Please remember they said " There is no too much document to proof a point" so you are free to upload as much as possible

Before uploading any document, always ask yourself. IF THIS DOCUMENT WAS SENT TO ME, WILL I ACCEPT IT.

All the best

Thank you for these details @ Bafemmy. This will help

One quick question - The Affidavit you submitted, what did it entail? Was it about the gift deed to back up the Gift of deed from your Dad?

 

[FMT]

Hello, I was wondering if we actually need those official letters from the bank - or can we show bank statements as proof of funds? I am unsure as to whether banks provide these letters - especially banks like Discover - which I do not think has any location branches. Does anyone have experience with using bank statements OR official letters from the banks in USA? Also, at what stage, will we be required to show proof of funds - do these documents have to be uploaded after ITA? Thanks.

I think your POF documents will be needed to be uploaded with other documents after receiving your ITA when formally applying

 

[qwerc]

Hi all. I just want to ask if I still need to provide gift deed from my father even after 6 months of transfer in my bank account.

Our CRS score is 426. My partner is the principal applicant. So were just waiting for ITA but not anytime soon based on the current trend of invitations. Last January my father transferred 75% of required POF to my own account. I have 2 joint accounts with my partner but we still lack about 5% which we can complete by March. We are just maintaining the balance until we receive ITA. If we get ITA by July or August, do I still need to provide gift deed? Or just the bank letter should be enough?

 

[drsatya]

Hi friends
I have some funds in mutual fund schemes. will it be considered as proof of fund or I shall transfer the amount in my bank account.Please guide.

 

[sundar17feb99]

Hi all. I just want to ask if I still need to provide gift deed from my father even after 6 months of transfer in my bank account.

Our CRS score is 426. My partner is the principal applicant. So were just waiting for ITA but not anytime soon based on the current trend of invitations. Last January my father transferred 75% of required POF to my own account. I have 2 joint accounts with my partner but we still lack about 5% which we can complete by March. We are just maintaining the balance until we receive ITA. If we get ITA by July or August, do I still need to provide gift deed? Or just the bank letter should be enough?

If it's get past 6 month, there is no necessity to furnish gift deed.