Gift deed as POF - Still need bank letter and statements?

[degm]

Hello,

I´m submitting a gift deed as my only POF. If the amount was deposited recently, do I still need to submit bank statements for the past 6 months? And how about the bank letter? I´ve been looking at different threads but haven´t found conclusive information. Any help greatly appreciated. Thank you!

 

[salikgilani]

Same question for me as well. And if we have gift deed do we need 6 months bank statement or from the date the deed money was transferred?

Good question. Thank you.

 

[BreakingBad]

For POF you need to submit a bank letter with current balance and Six months average balance.

If you cant provide this you have to provide a bank balance certificate(or other doc) and six months statements.

They need six months avg bal to make sure your funds are with you for a period of 6 months.
Many people wont keep that kind of moeny in banks usually.

So If you deposit total money today and get Avg bal it will be 1/6 and current balance is 6 times of that.
That means you had a bulk deposit recently.

Then you have to prove the source of funds for this deposit in your account.
Prove that this money is yours and you are at free will to spend it and you can use the money
for your initial settlement in Canada.

Gift deed form relatives proves that the money is gifted to you, so that you can use it for
settling in Canada if required and not borrowed.

So Gift deed is not the document for POF but it is one of the Supporting docs you provide to explain your POF when needed.
Hope this helps.

 

[salikgilani]

For POF you need to submit a bank letter with current balance and Six months average balance.

If you cant provide this you have to provide a bank balance certificate(or other doc) and six months statements.

They need six months avg bal to make sure your funds are with you for a period of 6 months.
Many people wont keep that kind of moeny in banks usually.

So If you deposit total money today and get Avg bal it will be 1/6 and current balance is 6 times of that.
That means you had a bulk deposit recently.

Then you have to prove the source of funds for this deposit in your account.
Prove that this money is yours and you are at free will to spend it and you can use the money
for your initial settlement in Canada.

Gift deed form relatives proves that the money is gifted to you, so that you can use it for
settling in Canada if required and not borrowed.

So Gift deed is not the document for POF but it is one of the Supporting docs you provide to explain your POF when needed.
Hope this helps.

Thank you that was very articulate. Just a small additional query. If bank letter states both current and average balance do we still need to attach bank statements or not?

 

[Saran12]

Hello,

I´m submitting a gift deed as my only POF. If the amount was deposited recently, do I still need to submit bank statements for the past 6 months? And how about the bank letter? I´ve been looking at different threads but haven´t found conclusive information. Any help greatly appreciated. Thank you!

Hi, I am in the same boat now. I only have the gift deed as my POF. Did CIC accept the pof even if the average of past 6 months was low?