If you want to sponsor a green card holder, it is important to understand the financial sponsorship requirements set by the U.S. government. The income requirements for eligibility vary based on family size, as shown in the tables below. In this article, we will break down what you need to know to meet these requirements to help your loved one gain permanent residency in the United States.
2022 Minimum Annual Income Requirements for Most Sponsors: 125% of Federal Poverty Guidelines
2022 Minimum Annual Income Requirements for Military Sponsors: 100% of Federal Poverty Guidelines
What sources of income can I include?
As of the 2021 tax filing year, your annual income as a sponsor will be reported on line 9 of IRS Form 1040, including wages or salaries earned and retirement benefits.
A lot goes into determining how much is required by the sponsor. Funds can come from many different avenues such as through employer paychecks, alimony payments, trust account, and more. Also, child custody and support may also determine the amount needed to sponsor a loved on.
Can I include income from other members of my household?
The short answer is YES. You can include other adults within your household to meet the minimum financial threshold aggregately. All parties must sign an I-864 form which outlines financial commitments made towards the individual being sponsored.
Can I include income from other people outside my household?
The answer to this is also, YES. You may have heard that if your household doesn’t meet the minimum annual income requirement together, there’s other options. And here it is. You can include individuals outside of your household but they must reside in America and hold either American citizenship or permanent residency status.
What if my income still isn't high enough? Can I count my assets?
Yes, you may be use assets as a substitute for income. Generally, USCIS requires that the assets “can be converted into cash within one year and without considerable hardship or financial loss to the owner.” Such assets can include savings accounts, certificates (CDs), mutual fund investments, individual stocks and bonds, and similar. You may also use other household members’ assets as long as they meet the following criteria:
1. They’re related to you by birth, marriage, or adoption.
2. They were listed on your most recent tax return, or they lived with you for the past six months.
If you don’t have enough income or assets to meet the green card sponsor requirements, you may be able to find a joint sponsor. A joint sponsor is another person who agrees to take on financial responsibility for the sponsored immigrant.