Proof of funds required at the border to confirm PR

[Anks86]

Hi, I am looking for some clarification regarding proof of funds required to be provided at the border while getting your PR confirmed. I am the primary applicant and my wife a secondary applicant on our profile. There is a chance I might end up going alone to confirm my PR and my wife travels afterward.

1. Can money in my retirement (401k), IRA accounts be shown as proof of funds without liquidating them?
2. Alternatively, my wife holds a brokerage account at Robinhood. I am wondering if they would consider a brokerage account (funds could be liquidated in 3-5 business days) as proof of funds?
3. If that is not advisable, and we liquidate our holdings in Robinhood, and transfer that to my savings account to be shown as proof, could that cause any problem since stocks were sold from my wife's account and the money from liquidating them was moved into my savings account?
4. If we liquidate our stocks and plan to travel to confirm our PR in less than a month from now, the cash transaction in our savings would be less than a month old. Could that cause any issue?

I am really looking for some guidance here.

Thanks.

 

[rebelagain]

Hi

I am
Not sure proof of funds are required at border. It doesn’t say that in COPR document that we need to bring proof of funds document.

 

[canuck78]

Hi, I am looking for some clarification regarding proof of funds required to be provided at the border while getting your PR confirmed. I am the primary applicant and my wife a secondary applicant on our profile. There is a chance I might end up going alone to confirm my PR and my wife travels afterward.

1. Can money in my retirement (401k), IRA accounts be shown as proof of funds without liquidating them?
2. Alternatively, my wife holds a brokerage account at Robinhood. I am wondering if they would consider a brokerage account (funds could be liquidated in 3-5 business days) as proof of funds?
3. If that is not advisable, and we liquidate our holdings in Robinhood, and transfer that to my savings account to be shown as proof, could that cause any problem since stocks were sold from my wife's account and the money from liquidating them was moved into my savings account?
4. If we liquidate our stocks and plan to travel to confirm our PR in less than a month from now, the cash transaction in our savings would be less than a month old. Could that cause any issue?

I am really looking for some guidance here.

Thanks.

The funds are really supposed to be liquid because they are supposed to be used to settle and support you for many months in Canada. POF is not always verified so wouldn’t recommend selling stocks. You are only in the US so if the border agent checks your POF and demands it needs to be liquid and accessible then you can always come back. Do you not both have savings accounts?

 

[Anks86]

We do have savings accounts, but we do not like to save, we invest.

Can they deny me PR if I don't have liquid funds if they ask me for them at POE? Also what if I decide to proactively liquidate part of my investments from my wife's trading account and move the funds to my savings account? is that allowed?

The funds are really supposed to be liquid because they are supposed to be used to settle and support you for many months in Canada. POF is not always verified so wouldn’t recommend selling stocks. You are only in the US so if the border agent checks your POF and demands it needs to be liquid and accessible then you can always come back. Do you not both have savings accounts?

 

[canuck78]

We do have savings accounts, but we do not like to save, we invest.

Can they deny me PR if I don't have liquid funds if they ask me for them at POE? Also what if I decide to proactively liquidate part of my investments from my wife's trading account and move the funds to my savings account? is that allowed?

Most people have some liquid funds in an emergency fund so they don’t have to liquidate if the market crashes. Liquid funds are usually required to be shown so you can easily resettle. Of course people will try to avoid liquidating stocks if the timing isn’t right. Would not recommend liquidating stocks when there are many times where proof of POF are not requested. Some officers may also not be paying close attention and may not realize they aren’t liquid funds. You’re only in the US so if you are told that your POF must be liquid you can then sell off some investments. Worse come to worse you are told when you try to land that funds need to be liquid. Then I would cash in some investments.