Proof Of Funds - Spouse's loan accounts

[snaravane]

Hi,

My wife is a primary applicant. She has enough CAD equivalent in form of Bank Savings and Fixed Deposits. I too would be providing my Provident Fund & Stocks statements. However, I do have 2 active loans on my name - Car and House. I'd be obviously selling off my car and closing that loan account. However, I don't plan to close my home loan (My parents live there). Do I need to disclose my loan accounts and EMIs?

 

[kryt0n]

The PA is the only person in the application that has to provide evidence of funds. The spouse doesn't have to submit any evidence. You could have $1000's in loans, cic aren't interested. Only what is in the PAs name.

 

[xpressentry]

CIC just wants to know the source of the funds. Some people can take a personal loan of the funds and pass off as their own.

 

[snaravane]

The PA is the only person in the application that has to provide evidence of funds. The spouse doesn't have to submit any evidence. You could have $1000's in loans, cic aren't interested. Only what is in the PAs name.

Agreed. But she can still show the liquid assets in my name along with hers, yes?

 

[kryt0n]

Agreed. But she can still show the liquid assets in my name along with hers, yes?

Well she is the PA. So she has to show something.

 

[Srushti]

CIC just wants to know the source of the funds. Some people can take a personal loan of the funds and pass off as their own.

I believe the PA is supposed to disclose all the loans he/she has with any bank on this earth along with the POF!

 

[kryt0n]

I believe the PA is supposed to disclose all the loans he/she has with any bank on this earth along with the POF!

Correct.

 

[snaravane]

I believe the PA is supposed to disclose all the loans he/she has with any bank on this earth along with the POF!

Hi Shrushti,

In our case PA is my wife. She does not have any outstanding loans. Just me.

 

[kryt0n]

Hi Shrushti,

In our case PA is my wife. She does not have any outstanding loans. Just me.

That's fine then. You as a dependant don't need to show any accounts, only the PA. But you can show your account as POF if you are accompanying.

 

[deep008]

Hi,

I have doubts regarding the bank account documents to be disclosed for the dependent in the EE portal post ITA.

Primary applicant has funds in his account worth 16,500 CAD with no liens and outstanding loans/credit whereas I (dependent) am a co-signee of an education loan for my brother which is of 15 lacs INR. Also, I am the primary source for the repayment of loan but there is a mortgage as well for the same.

We would be showing account bank statements which are required for the PA. My questions are:
1. Being a dependent do I need to disclose the outstanding loans to the IRCC?
2. If needed to disclose the outstanding debt, should the POF be:

• 16500 CAD + amount needed to be repaid for approx. 2 years OR
• 16500 CAD + whole loan cleared.

At the moment it is difficult to clear the loan, so looking the ideal way to proceed with the process.

Thank you.