Proof of Fund Inquiry

[Naturgrl]

I’m 27 the sponsor is my dad. The money was in a business account up until 2025 before being transferred to his personal account. These are the reasons for refusal:

Partial tuition payment noted. Proof of funds on file provided. Financial information is not supported with sufficient evidence for the bank statement balances on file. Limited evidence pertaining to the source on stated funds.


Bank statement shows lump sum deposits, poorly documented and there is insufficient evidence showing how these savings were accumulated. Provenance of these funds is not clearly documented. In the absence of satisfactory documentation showing the source of these funds, I am not satis that the applicant has sufficient and available financial resources to pay the tuition fees for the program of studies that they intend to pursue and to pay for living expenses while in Canada.

So are you now showing $21k plus tuition in a personal bank account wit 4 months of statements and no stranger transactions. For any deposit are you including a verified paper trail. If so reapply.

 

[Maguire27]

N

So are you now showing $21k plus tuition in a personal bank account wit 4 months of statements and no stranger transactions. For any deposit are you including a verified paper trail. If so reapply.

No im showing another bank statement belonging to my father with clearer trail of transactions

 

[Naturgrl]

N

No im showing another bank statement belonging to my father with clearer trail of transactions

As long as it is a personal account with his name only and shows the $21k plus tuition then reapply.

 

[Maguire27]

okay, thank you. The only thing is the funds in this account is in fixed deposit and the certificate already says funds can be liquidated at any time; there is a 25% penalty on the interest should it be liquidated before the maturity date.

 

[Naturgrl]

okay, thank you. The only thing is the funds in this account is in fixed deposit and the certificate already says funds can be liquidated at any time; there is a 25% penalty on the interest should it be liquidated before the maturity date.

That may or may not be an issue as long as it meets the $22k, tuition and 25% penalty. When do they mature?

 

[Maguire27]

That may or may not be an issue as long as it meets the $22k, tuition and 25% penalty. When do they mature?

They mature in October my program starts in September. Also I want to state that the funds came from the sale of an asset back in 2023 and the payment was made into my father’s company account. The funds were kept in fixed deposit from 2023 till 2025 before being transferred to my fathers personal account. There is no other activity in the account asides these. Also my 1st semester tuition was paid from the previous proof of fund I said was difficult to document.

 

[Naturgrl]

They mature in October my program starts in September. Also I want to state that the funds came from the sale of an asset back in 2023 and the payment was made into my father’s company account. The funds were kept in fixed deposit from 2023 till 2025 before being transferred to my fathers personal account. There is no other activity in the account asides these. Also my 1st semester tuition was paid from the previous proof of fund I said was difficult to document.

Since you have to have the cash before September then show you have the tuition that hasn't been paid plus $22k plus 25% penalty.

 

[Maguire27]

I was told I have to give a valid reason for changing to another of my father’s bank account as proof of funds. Is this true? And my reason for changing is because the documentation of the previous account is too messy.

 

[Naturgrl]

I was told I have to give a valid reason for changing to another of my father’s bank account as proof of funds. Is this true? And my reason for changing is because the documentation of the previous account is too messy.

Who told you? Show what you have. Also in the end, IRCC doesn't have to consider your father's funds because you are 27 years old. IRCC expects that you should be able to support yourself and not a dependant. So did notes say lack of funds was because you didn't show your own cash in the bank?

 

[Maguire27]

Who told you? Show what you have. Also in the end, IRCC doesn't have to consider your father's funds because you are 27 years old. IRCC expects that you should be able to support yourself and not a dependant. So did notes say lack of funds was because you didn't show your own cash in the bank?

No the notes said spoke about evidence not enough for the balance on file. Basically source of funds submitted. I just graduated from bachelors last December.

 

[Maguire27]

No the notes said spoke about evidence not enough for the balance on file. Basically source of funds submitted. I just graduated from bachelors last December.

 

[Maguire27]

How do I document the new pof.

• 2023: fathers company had $200k property sale. $100k was moved to a second company account and placed in a 6-month Fixed Deposit (FD).
• 2023 – Feb 2025: The $100k stayed in the company account, rolling over every 6 months (principal + interest).
• Feb 2025 – Present: Total funds moved to Father’s personal account and continue to roll over in 6-month FD cycles.
• This account has low activity as it’s only fixed deposits and I only have the most recent fixed deposit certificates.

 

[Naturgrl]

How do I document the new pof.

• 2023: fathers company had $200k property sale. $100k was moved to a second company account and placed in a 6-month Fixed Deposit (FD).
• 2023 – Feb 2025: The $100k stayed in the company account, rolling over every 6 months (principal + interest).
• Feb 2025 – Present: Total funds moved to Father’s personal account and continue to roll over in 6-month FD cycles.
• This account has low activity as it’s only fixed deposits and I only have the most recent fixed deposit certificates.

Only personal accounts are relevant. IRCC doesn't consider business accounts.

 

[Maguire27]

I’m showing his personal account with the fixed deposit. Also I have paid $10k of the tuition and have the receipt. do I have to show the source of the $10k payment?

 

[Naturgrl]

I’m showing his personal account with the fixed deposit. Also I have paid $10k of the tuition and have the receipt. do I have to show the source of the $10k payment?

Show source of payment.