Proof of funds

[rohitdhingra91]

Hi
I have received an ITA in express entry and is planning to show Fixed deposit as proof of funds. I have got a partial amount of that FD as a gift from my father.

However 3 months back there was a large sum transaction in my account from my mother out of which proportion has been used for payment of her loan and the rest amount added to the FD used for POF.

Just want to know if I need to mention about that transaction in LOE?

 

[Jo1984]

Hi
I have received an ITA in express entry and is planning to show Fixed deposit as proof of funds. I have got a partial amount of that FD as a gift from my father.

However 3 months back there was a large sum transaction in my account from my mother out of which proportion has been used for payment of her loan and the rest amount added to the FD used for POF.

Just want to know if I need to mention about that transaction in LOE?

I don't know if you have to, but I would. I had a large amount of money coming into my account a month before I submitted my application, from the sale of a property. Even though I already had the funds before the sale, I decided to include an LoE to clarify where this money was coming from. Make it as easy as possible for the immigration officers, can't go wrong with that approach.

 

[rohitdhingra91]

I don't know if you have to, but I would. I had a large amount of money coming into my account a month before I submitted my application, from the sale of a property. Even though I already had the funds before the sale, I decided to include an LoE to clarify where this money was coming from. Make it as easy as possible for the immigration officers, can't go wrong with that approach.

Should I do a gift deed for that remaining amount?

 

[Jo1984]

Should I do a gift deed for that remaining amount?

I really cannot advise on that, as I know nothing about gift deeds. Hopefully someone else can offer an insight

 

[rohitdhingra91]

Should I do a gift deed for that remaining amount?

The exact scenerio is:
Total FD amount: 10 lacs
Gift deed from father: 8 lacs
Transaction done by mother: 7 lacs out of which 5.5 lacs has been used for some of her payment
Remaining 1.5 lac was added in FD amount

 

[rohitdhingra91]

I really cannot advise on that, as I know nothing about gift deeds. Hopefully someone else can offer an insight

Thanks buddy for your help