Proof of Funds - Help!
- Thread starter Fitztorious
- Start date
Hi Asivad,
Request your inputs on the following points:
1) In case I book an FD after receiving an ITA,for the entire amount required to be shown as POF , will that be a problem ? I mean is there any vintage requirement for the fixed deposit?
2) Also will CIC require the source of funds for my fixed deposit? In case I provide an affidavit stating that I received a gift from my father for the same , will that suffice ? Also would CIC ask for my father's bank statement in that case to understand the source of those funds in my father's account?
3) Instead of my father could my aunt provide an affidavit stating that she has gifted me the funds to book my fixed deposit ?
Thanks in Advance !
Kunal.
3
Request your inputs on the following points:
1) In case I book an FD after receiving an ITA,for the entire amount required to be shown as POF , will that be a problem ? I mean is there any vintage requirement for the fixed deposit?
2) Also will CIC require the source of funds for my fixed deposit? In case I provide an affidavit stating that I received a gift from my father for the same , will that suffice ? Also would CIC ask for my father's bank statement in that case to understand the source of those funds in my father's account?
3) Instead of my father could my aunt provide an affidavit stating that she has gifted me the funds to book my fixed deposit ?
Thanks in Advance !
Kunal.
3
sweta1125 said:
Silly as it sounds, Yes. Funds have to belong to the PA without being encumbered by anyone.
Hi,
i have just entered the pool of the express entry system my score is 478 . i had some confusion of the funds.
can shares be treated as funds or only fd or cash... also can PF(provident fund) can also be treated as a fund as it would be credited to us on account of us leaving the job...please explain
i have just entered the pool of the express entry system my score is 478 . i had some confusion of the funds.
can shares be treated as funds or only fd or cash... also can PF(provident fund) can also be treated as a fund as it would be credited to us on account of us leaving the job...please explain
pankush gupta said:
PF is not a guarantee that you will receive after leaving job. It may gets deduction if you have requested for a loan from a company or unable to serve notice period. On accrual basis this money belongs to you and will be credited to your account. Unfortunately cic consider pof on cash basis, investments do fall as part of pof because the amount can be readily available or liquidate at any stage when required but you cannot liquidate pf.
Make sense?
Hello!!
We recieved ITA and trying to fill up application now. The biggest issue is proof of funds. My husband is main applicant and we have to submit his bank account statement as POF but the problem is that we usually are using his salary to pay for all the bills and use my bank account as savings account. So what we have now is around 3000 CAD on my husbands account and more than enough money on my personal account. Would it be a problem? Can we submit my bank account statement as POF? Or should i transfer the money to my husbands account? Won't it be suspicious where all that money came from? Did anyone face any similar situation? We would really really appreciated some guidance or advice at the moment!!
We recieved ITA and trying to fill up application now. The biggest issue is proof of funds. My husband is main applicant and we have to submit his bank account statement as POF but the problem is that we usually are using his salary to pay for all the bills and use my bank account as savings account. So what we have now is around 3000 CAD on my husbands account and more than enough money on my personal account. Would it be a problem? Can we submit my bank account statement as POF? Or should i transfer the money to my husbands account? Won't it be suspicious where all that money came from? Did anyone face any similar situation? We would really really appreciated some guidance or advice at the moment!!
