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| Subject: Proof of Funds- IRA account/ stocks |
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Regarding proof of funds, does money in a Meryl Lynch accound (IRA- stocks and mutual funds) count? The money can be liquified within 24 hours. Also, does money in a State Teacher´s Retirement system work as funds, as they can also be liquified within 24 hours with a penalty? I did a Forum Search regarding this and couldn´t find anything, so any help is appreciated.
[05-04-2005,01:43]
[**.23.216.140]
Greg |
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(in reply to: Proof of Funds- IRA account/ stocks)
I think it should count too.
I have my RRSP(registed retired saving plan),which can cash in with income tax penaty.
CIBC index funds is a mutual fund in Canada, RRSP qualified.
I copy those shit just from online banking and submit to CIC, they gave me aor, nothing heard back, should be fine.
[05-04-2005,02:12]
[**.66.78.235]
Departure Bay |
(in reply to: Proof of Funds- IRA account/ stocks)
I agree. the criteria is ´liquid´ so the crunch will come when it is time to land. if you are not walking in the door with cash in hand... they will say sorry- bye bye.
if we think about CIC´s primary concern... that you have cash to look after yourself for 6 months upon landing - that is what they are looking for and that is all they require. how you hold the funds until PR is issued, is not the critical issue.
[05-04-2005,02:30]
[***.20.170.23]
sharon |
(in reply to: Proof of Funds- IRA account/ stocks)
don´t foget another factor, if you have work permit and job offer, you don´t even have to show them proof of fund, however, I still show them, just let them feel safe.
[05-04-2005,02:44]
[**.66.78.235]
Departure Bay |
(in reply to: Proof of Funds- IRA account/ stocks)
Sharon and all-
Wait a sec, upon landing I need to have the cash in hand? Can´t I have a bank statement or account statement printed around the day of landing? I´d be leaving America for Canada, is it necessary to have that much hard cash and sell stocks for that? I mean, if I have to that´s fine. Please clarify, merci.
[05-04-2005,03:04]
[**.23.216.140]
Greg |
(in reply to: Proof of Funds- IRA account/ stocks)
Just checked the CIC site, it writes that upon landing one has to 1) show valid passport, 2) answer questions similar to interview and form questions, and 3) "Show proof of funds."
Is this wrong? merci
[05-04-2005,03:07]
[**.23.216.140]
Greg |
(in reply to: Proof of Funds- IRA account/ stocks)
yep, just show the proof of fund, not cash.
don´t cash your retirement fund or sell stock which will lose money, unless your proof of fund is not enough.
Just borrow some money and print it out.
[05-04-2005,03:15]
[**.66.78.235]
Departure Bay |
(in reply to: Proof of Funds- IRA account/ stocks)
think about the purpose of the funds. they want you to have cash available to you in Canada. they also want that you can get at it! I assume that investments are OK- you might need to check.
[05-04-2005,12:43]
[***.20.170.23]
sharon |
proof od funds (in reply to: Proof of Funds- IRA account/ stocks)
Dear TCS,
I (my doctor )have/has sent my medicals on March 5 to Ottawa office and On April 25, I sent to Buffalo office, all the additional requested documents. However, in the Document List, they didn´t ask me for the updated proof of funds, and as i have read on some other individual´s notes, they usualy don´t ask for it, but you have to send it anyway. Is that true?
What do you think I should do? Do I need to send them now or wait until I hear back from them? Can I send a fax asking whether they need it or....? Is there any possible way that I can increase the process of my application?
Thank you so much and looking forward to your advice.
[18-05-2005,17:34]
[***.130.198.253]
Monica |
(in reply to: Proof of Funds- IRA account/ stocks)
Unless they ask, I wouldn´t bother. You could fax them, the worst case scenerio is that they ignore your fax. I assume you have the funds. You could also fax proof of your funds just to update your file, remind them that you are serious, and clear your mind. Maybe someone else has a better clue than I, like Sharon.
[18-05-2005,23:19]
[**.74.40.68]
Greg |
Thank you (in reply to: Proof of Funds- IRA account/ stocks)
Thank you Grek for your reply and inputs.
Hopefully Sharon will provide us with some other info in regards to these concerns.
Regards,
[19-05-2005,11:47]
[***.130.198.253]
Monica |
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