Proof of financial support questions

[baq]

I'm an American graduate student due to begin class in September. Long story short, my income from TAing will be a a couple thousand dollars short of the tuition + $10,000/yr financial support standard. Thankfully, I have more than enough money to cover the remainder. This is where my problems start as, a) that money is currently in a mutual fund (so, a liquid asset, but not cash) and b) it is currently denominated in USD, not CAD.

Here are my questions:

1. Could I submit my mutual fund statements as proof of financial support? I don't want to just transfer the money into my bank account, as apparently immigration officers find a bank account suddenly gaining thousands of dollars suspicious.

2. Must the money be in CAD, or can it be in USD?

Thanks in advance!

 

[21Goose]

It can be in USD or any currency as long as it's above the minimum required in CAD.

You can move the money into your account. You just need to show the source - so the sale of the funds and the subsequent transfer will need to be shown.

IRCC doesn't like unexplained sums of money showing up in an individual's bank account, but there's nothing stopping you from selling your own assets (stocks/bonds/funds whatever) and converting them into cash as long as you can prove that those were, in fact, your assets.

 

[canuck78]

The bigger issue is that most don’t want to cash out their locked in funds and may be tempted to work more hours, etc. versus having to sell at a bad time. Do you have a parent that may be able to add to your proof of finances? Would help if you could show some liquid funds.


P