Most family-based immigration cases require the petitioner to also serve as a financial sponsor for the intending immigrant. To qualify as a sponsor, a petitioner must demonstrate sufficient means to ensure that the beneficiary family member will not become a public charge, in need of government support. In most cases, a petitioner’s annual income is used to satisfy this requirement. However, if a petitioner’s income is insufficient, a petitioner might possibly be able to use assets to qualify as a sponsor.
A petitioner serving as a financial sponsor for an intending immigrant must complete form I-864, affidavit of support under section 213A of the Immigration and Nationality Act (INA), for the beneficiary. The purpose of the I-864 is to financially protect U.S. taxpayers. By signing the I-864, the petitioner contracts to be financially liable to the government if the sponsored family member collects certain types of means-tested public benefits (e.g., food stamps).
If a petitioner does not have sufficient income to meet 125 percent of the applicable federal poverty guideline level, certain assets may be included on the I-864 to supplement some or all of the petitioner’s income. The net value of a petitioner’s assets typically must total at least five times the difference between the petitioner’s household income and the federal poverty level for the petitioner’s household size, or three times the difference, for a U.S. citizen who is petitioning for a spouse or child. A petitioner can reach the total required asset amount using a household member’s assets or the intending immigrant’s assets, in addition to the petitioner’s own assets.
A petitioner may only use assets that can be readily converted into cash within one year, without considerable hardship or financial loss to the owner. For each asset used, the owner must provide proof of ownership and proof of the asset’s net cash value. Common types of assets accepted by the U.S. Citizenship and Immigration Services (USCIS) include a home or other real estate, savings accounts, stocks, bonds, and certificates of deposit, among others. An automobile typically cannot be used as an asset, unless the sponsor has one or more additional automobiles that are not being used as an asset on the sponsor’s I-864.
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