Updated Bank Statement Request

[Alex092]

I just got an email from IRCC saying they need to see an updated bank statement and pay slips from that time period. My dad owns an engineering company and gets contracts from multiple clients. The issue is he withdrew some funds after I submitted my application so the updated bank statement will be lower than the previous one we submitted. Should we add some funds to the account before we submit the updated bank statement or should we leave it the way it is.

 

[Naturgrl]

So the funds required are in personal not company bank accounts, so if it is above the required amount for proof of funds then should be okay.

 

[Alex092]

Also

I just got an email from IRCC saying they need to see an updated bank statement and pay slips from that time period. My dad owns an engineering company and gets contracts from multiple clients. The issue is he withdrew some funds after I submitted my application so the updated bank statement will be lower than the previous one we submitted. Should we add some funds to the account before we submit the updated bank statement or should we leave it the way it is.

Also I’ll be showing new contracts as source of funds

 

[Naturgrl]

Also

Also I’ll be showing new contracts as source of funds

Contracts are not funds, nor is money guaranteed. IRCC wants updated bank statements and pay slips to show your parents have income.

 

[Alex092]

So the funds required are in personal not company bank accounts, so if it is above the required amount for proof of funds then should be okay.

No, it’s not above the required amount for proof of funds. It went from 46k cad to 12k cad after 2 months. His bank statement had over 90k cad in inflows and outflows so this is normal. My only question now is will the new engineering contracts be enough to convince them that we have funds incoming or do we need to fund the account before submitting the new bank statement.

 

[Alex092]

Contracts are not funds, nor is money guaranteed. IRCC wants updated bank statements and pay slips to show your parents have income.

Since he’s the CEO, he doesn’t have pay slips and in these contracts, it shows how he is paid progressively as the work is being done, he usually gets an advance payment when the contract is given to him too.

 

[Naturgrl]

No, it’s not above the required amount for proof of funds. It went from 46k cad to 12k cad after 2 months. His bank statement had over 90k cad in inflows and outflows so this is normal. My only question now is will the new engineering contracts be enough to convince them that we have funds incoming or do we need to fund the account before submitting the new bank statement.

You need to follow the instructions of what IRCC is asking for. Your father has to write a letter of explanation and then also explain that he can support himself and any other family members. Contracts are not cash in the bank. IRCC is asking for bank statements not future, possible income. IRCC wants you to show that you have the POF now.

 

[Alex092]

You need to follow the instructions of what IRCC is asking for. Your father has to write a letter of explanation and then also explain that he can support himself and any other family members. Contracts are not cash in the bank. IRCC is asking for bank statements not future, possible income. IRCC wants you to show that you have the POF now.

Okay, I understand. So there won’t be any need to increase the bank balance?

 

[Naturgrl]

Okay, I understand. So there won’t be any need to increase the bank balance?

You need to show that you meet the minimum POF of $21k plus tuition if you haven't paid tuition. If you dump money into the account then need a really good paper trail and explanation.

 

[Alex092]

You need to show that you meet the minimum POF of $21k plus tuition if you haven't paid tuition. If you dump money into the account then need a really good paper trail and explanation.

Okay, I understand. Thank you