Proof of Funds (Express Entry)

[dull1234]

Anyone know how recemt the POF has to be ? the most recent I can do will be 1 month old as I will be out of country for 1 month. Is it still usable ? Thanks

 

[hitesh0414]

Anyone know how recemt the POF has to be ? the most recent I can do will be 1 month old as I will be out of country for 1 month. Is it still usable ? Thanks

It will be risk. To be on safer side it should not be more than a week old.

 

[Darshan019]

Hell All,

Can some one please confirm if amount in Provident fund is accepted for proof of funds once you receive at ITA. I'm getting different responses from people outside this forum. So can someone who has recently been in a similar situation confirm if PF balance is considered or not. Are there any chances of CIC not accepting this at later stage?

Also, if PF amount is accepted then what is the procedure for showing PF balance. Online statement, bass book and what else is required.

Thanks in advance.

Regards,
Darshan

 

[Stanlee]

Hell All,

Can some one please confirm if amount in Provident fund is accepted for proof of funds once you receive at ITA. I'm getting different responses from people outside this forum. So can someone who has recently been in a similar situation confirm if PF balance is considered or not. Are there any chances of CIC not accepting this at later stage?

Also, if PF amount is accepted then what is the procedure for showing PF balance. Online statement, bass book and what else is required.

Thanks in advance.

Regards,
Darshan

Check this thread http://www.canadavisa.com/canada-immigration-discussion-board/procedure-to-get-pf-balance-certificate-and-ac-statement-from-pf-office-india-t412640.0.html

 

[Darshan019]

Thanks Stanlee for the prompt response.

Do we also know if they accept the 100% balance in PF account or it is partially accepted?

Regards,
Darshan

 

[arunkumarsachin]

Hi,

Actually the Provident fund is maintained by my current employer and I able to download this PF letter from company portal. In this letter, the company, address, Contact details and contribution of PF amount from employer & employee as on current month are mentioned. In this case, do I need to get any reference letter from my employer or PF government office regarding this.

Is this letter sufficient to show proof of funds for applying CIC and SINP streams. please suggest on this.

 

[Rehan123]

Get a letter from the employer and include the amount of the Provident fund belong to you and ask the employer to mention that the PF can be fully payable at the time of separation.

Hi,

Actually the Provident fund is maintained by my current employer and I able to download this PF letter from company portal. In this letter, the company, address, Contact details and contribution of PF amount from employer & employee as on current month are mentioned. In this case, do I need to get any reference letter from my employer or PF government office regarding this.

Is this letter sufficient to show proof of funds for applying CIC and SINP streams. please suggest on this.

 

[Escobar Gaviria]

So for POF, even if you haven't prepared your bank statement for 6 months (required), or your current balance in your bank is not sufficient enough as per IRCC rules or If you can get a statement, but that'd be less then 6 months old.

Purpose of POF is to prove that you've sufficient liquid money to support your stay in Canada, the money must not be borrowed, must not be a loan, or you must not be liable to return it to someone.

How to prove the required amount depending on family size?
Gift deed: Ask your parents, sibblings, in-laws who ever can transfer money in your account, and then show the transfer proof, gift deed, affidavit of support and your statement, with an LOE explaining where the money came from and everything in detail (PLEASE CORRECT ME HERE IF I AM WRONG)

 

[DelPiero07]

So for POF, even if you haven't prepared your bank statement for 6 months (required), or your current balance in your bank is not sufficient enough as per IRCC rules or If you can get a statement, but that'd be less then 6 months old.

Purpose of POF is to prove that you've sufficient liquid money to support your stay in Canada, the money must not be borrowed, must not be a loan, or you must not be liable to return it to someone.

How to prove the required amount depending on family size?
Gift deed: Ask your parents, sibblings, in-laws who ever can transfer money in your account, and then show the transfer proof, gift deed, affidavit of support and your statement, with an LOE explaining where the money came from and everything in detail (PLEASE CORRECT ME HERE IF I AM WRONG)

1 - Bank statements are not required if your bank letter follows IRCC's guidelines.

2 - Yes, you can get a gift deed but no affidavit/notarization is required. A self-declaration from a family member stating that the money transferred is a gift and not a loan is sufficient + proof of transfer.

 

[Escobar Gaviria]

Thank you so much!

Can we get gift deeds from let's say, father and brother both?
I need to show atleast CAN $ 12164, but in my EE profile I've mentioned CAN $ 18617.

Can I get two gift deeds of CAN $ 10000 each, from father and brother?

 

[DelPiero07]

Thank you so much!

Can we get gift deeds from let's say, father and brother both?
I need to show atleast CAN $ 12164, but in my EE profile I've mentioned CAN $ 18617.

Can I get two gift deeds of CAN $ 10000 each, from father and brother?

Yes you can but obviously get two gift deed letters and their respective proof of transfer.

 

[Escobar Gaviria]

Thanks.

I was of the impression that POF is really a big deal and you have to have atleast 6 months bank statement of such and such amount. If not, you're screwed up big time, and there is no other way around, and 90 days would pass and stuff like that! seeing so many people worried about it.

Get a gift deed made and bang! POF problem is solved, isn't' it? Or I am the only one who is not taking it seriously?

 

[jamesls1]

Hi everyone! Got my ITA through yesterday and congrats to everyone else who got one! So happy, and I'm sure everyone else waiting will get it really soon!

I have read through all 94 pages of this thread to try and find an answer and I have gathered a lot of info so thanks to everyone who has contributed so far. I just have some doubts still so thought I'd ask for clarity.

I have the required funds of just over $12,164 sat in my Canadian TD bank account. However, over the last 6 months I'd say my average has been around $8-10,000 as I was saving for PR.

I came to Canada in Oct 2015 on an LMIA but was laid off after 6 months (worked as an oil recruiter - go figure!). Back then my salary was pretty good and I had brought a bit of money with me to Canada from UK. My girlfriend who I met out here a year ago was in some credit card debt so because I was just sat on the money at the time and I figured I'd be applying for CEC not FSW, I gave her the money to clear her debt, and since then she has been paying my rent and giving me repayments on an infrequent basis when she has the money. Some injections by e-transfer have been $200, some $500, one was $2,900. This has kind of been my 'way' of saving the money up as I've not been touching these funds and have been using my UK cards since for small payments.

So.. from reading the thread I gather that the 6 month average is only needed by CIC to show my POF was not taken as a loan for the purpose of PR. However I can't seem to find a clear answer (I was reading late last night through nerves and excitement) regarding the situation where one saves the money over the 6 months and the average is a few thousand under the current balance / LICO.

I'm sure my girlfriend will give me gift deeds for each payment etc, but is this necessary? The sums were pretty small apart from one fairly sizeable sum.

Also, I am still resident in Canada as a Visitor and have been granted a couple of extensions on this status. My current visitor visa expires end of April 2017. As I was on a work permit when I opened the bank account and had a SIN number for a year I was able to open the Canadian bank account. This is what I'll be using for POF as my UK accounts are pretty dead now anyway. I just had a doubt about the fact that I'm just a visitor so will this bank account be questioned? I'm sure it's fine.

Thank you in advance!

 

[friendtoukrainians]

What is the requirement from a POF perspective if you're currently in Canada, had employment in Canada, but are currently between jobs? You don't need to show a border official, so is this for CIC?

Could I just transfer $12,000 (or whatever is needed) to my fiancees or our joint account for this purpose?

I pay all of our bills, so it isn't like there is any real lack of funding for her to survive in Canada...

 

[DelPiero07]

What is the requirement from a POF perspective if you're currently in Canada, had employment in Canada, but are currently between jobs? You don't need to show a border official, so is this for CIC?

Could I just transfer $12,000 (or whatever is needed) to my fiancees or our joint account for this purpose?

I pay all of our bills, so it isn't like there is any real lack of funding for her to survive in Canada...

If you're invited under the CEC program you do not have to show POF.

Otherwise, yes you can transfer the money to her (i'm assuming she's the primary applicant) and show a gift deed letter.