Funds for CIC

[shanitin14]

I have three months old funds in my account and now i received the ITA. Should i wait for another three months to file the application so that funds are 6 months old????

 

[crescent_jam]

I have three months old funds in my account and now i received the ITA. Should i wait for another three months to file the application so that funds are 6 months old????

Funds do not need to be 6-months old. This is a misunderstanding of IRCC's requirement for persons to provide a 6-month history of their accounts. The 6-month rule is only to provide IRCC with enough history to figure out if the funds you're claiming for settlement are encumbered in some way (e.g. you took out a loan to get the funds, which you're not allowed to do).

As long as you can provide evidence that all of the funds that you have at this time are yours, unencumbered, and are free and clear to be used for nothing but your settlement, then the 6-month history doesn't matter. Provide documentation to help IRCC understand why you only have a 3-month old account (If you've been working for a year or more, which is required for Express Entry, you would have been earning for at least a year, so that would automatically raise concerns as to why your account is only 3 months old - i.e. is there something you're trying to hide? But as long as you can show proper evidence of why the account is only 3-months old and that there's no sketchy reason behind it, you'll be fine).

 

[shanitin14]

Funds do not need to be 6-months old. This is a misunderstanding of IRCC's requirement for persons to provide a 6-month history of their accounts. The 6-month rule is only to provide IRCC with enough history to figure out if the funds you're claiming for settlement are encumbered in some way (e.g. you took out a loan to get the funds, which you're not allowed to do).

As long as you can provide evidence that all of the funds that you have at this time are yours, unencumbered, and are free and clear to be used for nothing but your settlement, then the 6-month history doesn't matter. Provide documentation to help IRCC understand why you only have a 3-month old account (If you've been working for a year or more, which is required for Express Entry, you would have been earning for at least a year, so that would automatically raise concerns as to why your account is only 3 months old - i.e. is there something you're trying to hide? But as long as you can show proper evidence of why the account is only 3-months old and that there's no sketchy reason behind it, you'll be fine).

Thanks for the detailed explanation

 

[trivvoxx]

I have three months old funds in my account and now i received the ITA. Should i wait for another three months to file the application so that funds are 6 months old????

Just make use of the Letter of Explanation part in the PR forms. Explain why your account/money is fresh.

 

[shanitin14]

Just make use of the Letter of Explanation part in the PR forms. Explain why your account/money is fresh.

Thanks for the reply. Can i show that my parents has gifted me that Money.?

 

[shanitin14]

Thanks for the detailed explanation

Thanks for the reply. Can i show that my parents has gifted me that Money.?

 

[trivvoxx]

Thanks for the reply. Can i show that my parents has gifted me that Money.?

If it is a gift... Your parents should make a statutory declaration that is notarized by a lawyer.