GCBatman
04-13 10:42 AM
Thanks gcisadawg.
I do not think 1st option will work for me since I was told by my old company that I SHOULD move my 401 K.
I do not have any existing IRA account kindly provide more details how I can set it up & how long it take to set it up?
Thanks,
You have multiple options.
1> Just keep the money with your old company. This is possible if the balance is above 5K.
You can shift as soon as you set up a new 401K plan with your new company. Check with your current HR if they allow this. In my company, they do allow this.
2> Shift the money to a new/exsisting IRA.
Either case, first open the account and ask your current 401K custodian to write a cheque to new 401K/IRA custodian. If they write a cheque directly to you, they may withhold tax.
If you don't deposit within specific time period then you would incur tax and 10% penalty.
-GCisaDawg
I do not think 1st option will work for me since I was told by my old company that I SHOULD move my 401 K.
I do not have any existing IRA account kindly provide more details how I can set it up & how long it take to set it up?
Thanks,
You have multiple options.
1> Just keep the money with your old company. This is possible if the balance is above 5K.
You can shift as soon as you set up a new 401K plan with your new company. Check with your current HR if they allow this. In my company, they do allow this.
2> Shift the money to a new/exsisting IRA.
Either case, first open the account and ask your current 401K custodian to write a cheque to new 401K/IRA custodian. If they write a cheque directly to you, they may withhold tax.
If you don't deposit within specific time period then you would incur tax and 10% penalty.
-GCisaDawg
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kevinkris
08-06 01:57 PM
Is it a big blow for desi consulting firms??
US raises H-1B, L1 visa fee by $2000
Washington: The US Senate today approved a substantial increase in application fees for H-1B and L1 visas, most sought after by Indian IT professionals to fund a $ 600 million emergency package to improve security along the porous Mexican border.
The proposed massive increase in H-1B and L1 visa application fee would primarily affect the top Indian IT companies who rely majorly on these categories of visas to continue with their work in the US. The Senate measure increases the visa fee to $ 2,000 per application on those companies that have less than 50 percent of their employees as American citizens.
"I prefer our source, which is from these companies which are not, as I say they are companies whose whole purpose is to bring people in on H-1B and the vast majority of them from other countries who go back to the other countries. That is a better funding source," Senator Charles Schumer from New York said in his remarks on the Senate floor.
Schumer along with his other democratic colleagues including Senator Claire McCaskill has introduced the legislation in this regard, which was passed by unanimous consent. During the debate, however, Senator John McCain wanted to fund the security along the Mexican border with the stimulus money, which was turned down by Schumer.
"The bottom line is this. I like the H-1B programme, and I think it does a lot of good for a lot of American companies. In fact, in the immigration proposal I made, along with Senator Reid and Senator Menendez, as well as the outline with Senator Graham, we expand H-1B in a variety of ways," Schumer argued.
"There is a part of H-1B that is abused, and it is by companies that are not American companies or even companies that are making something. Rather, they are companies that take foreign folks, bring them here, and then they stay here for a few years, learn their expertise, and go back. We think we should increase the fees when they do that," the Senator said.
Rejecting McCain's proposal to get the funding from the stimulus money, Schumer said: "I hope, even though I cannot accept these amendments, that maybe we could come together on something that we could bring back in September because I do believe we have to secure the border."
Schumer said: "Even in the comprehensive proposal that we made, we said we have to secure the border and do other things as well. It is my belief that securing the border alone will not solve our immigration problems; that until we have comprehensive reform, particularly in making sure employers do not hire illegal immigrants which they now do, even though they do not know they are illegal immigrants because documents are so easily forged, that we have to do comprehensive. But we should do the border. To say we have to do comprehensive does not gainsay that we have to work on theborder and work on it quickly and soon."
It is not clear yet, if this increase would also apply only to those firms that are also H-1B-dependent.
US raises H-1B, L1 visa fee by $2000
Washington: The US Senate today approved a substantial increase in application fees for H-1B and L1 visas, most sought after by Indian IT professionals to fund a $ 600 million emergency package to improve security along the porous Mexican border.
The proposed massive increase in H-1B and L1 visa application fee would primarily affect the top Indian IT companies who rely majorly on these categories of visas to continue with their work in the US. The Senate measure increases the visa fee to $ 2,000 per application on those companies that have less than 50 percent of their employees as American citizens.
"I prefer our source, which is from these companies which are not, as I say they are companies whose whole purpose is to bring people in on H-1B and the vast majority of them from other countries who go back to the other countries. That is a better funding source," Senator Charles Schumer from New York said in his remarks on the Senate floor.
Schumer along with his other democratic colleagues including Senator Claire McCaskill has introduced the legislation in this regard, which was passed by unanimous consent. During the debate, however, Senator John McCain wanted to fund the security along the Mexican border with the stimulus money, which was turned down by Schumer.
"The bottom line is this. I like the H-1B programme, and I think it does a lot of good for a lot of American companies. In fact, in the immigration proposal I made, along with Senator Reid and Senator Menendez, as well as the outline with Senator Graham, we expand H-1B in a variety of ways," Schumer argued.
"There is a part of H-1B that is abused, and it is by companies that are not American companies or even companies that are making something. Rather, they are companies that take foreign folks, bring them here, and then they stay here for a few years, learn their expertise, and go back. We think we should increase the fees when they do that," the Senator said.
Rejecting McCain's proposal to get the funding from the stimulus money, Schumer said: "I hope, even though I cannot accept these amendments, that maybe we could come together on something that we could bring back in September because I do believe we have to secure the border."
Schumer said: "Even in the comprehensive proposal that we made, we said we have to secure the border and do other things as well. It is my belief that securing the border alone will not solve our immigration problems; that until we have comprehensive reform, particularly in making sure employers do not hire illegal immigrants which they now do, even though they do not know they are illegal immigrants because documents are so easily forged, that we have to do comprehensive. But we should do the border. To say we have to do comprehensive does not gainsay that we have to work on theborder and work on it quickly and soon."
It is not clear yet, if this increase would also apply only to those firms that are also H-1B-dependent.
nk2006
04-13 12:46 PM
I have recently switched the job using AC21. I have to move my 401K from my old previous company but here is the issue: in my new company I will not be eligible for the 401 till I complete 6 months with the new company.
If thinking of moving it to IRA account, please let me know what is the procedure involved?
I will really appreciate if some can suggest me what are my other options.
Thanks,
As someone already mentioned you can go for rollover IRA - most of major investment companies offer this (infact will be eager to get any business).
Its a bad thing that your previous company is asking to move funds - but in a way its a blessing in disguise. In many companies (and their 401k custodians like Fidelity) - they allow to continue your funds in the 401k even after you leave the company - but as a non-employee you would incur more expenses and/or closed for some investing options. So continuing in the older 401k is not a great option in most cases (unless your previous 401k had very good funds which are now closed for new investors). Rollover IRA's are also good for another reason - you have more investment opportunities. In most of 401k's the number of available mutual funds are limited - but in rollover IRA it becomes much more flexible (I have a Fidelity rollover IRA account and has many funds and also an option to trade stocks). When I moved from one of my former employers (a top software company) I was too lazy to do anything and left it there for next five/six years; later as I gained more financial knowledge I digged into the funds and fees and came to know how much more I was charged as a non-employee - then moved to my current rollover IRA.
If you are more adventurous, there are other options as well. You can rollover into a self-directed IRA that allows to invest you in small private companies. There are a few custodians who allows this. Lets say someone has 10K in former 401k account - rolling over into a IRA with traditional fin. companies like Fidelity will give you access to many mutual funds and stock; with a small set of specialized custodians you can invest this 10K in a startup or even in real-estate. The custodian helps in the documentation so that you and the new company are very clear about everything. The key is you cannot be the owner of the company or real estate that you are investing but you can invest in a friends company or real-estate. I went to this route for one of my account and invested in a friends company who own commercial real-estate - with a 8% annual return rate for last year I can say its my best performing investment account. Obviously this is not for everyone and need lot of leg work and an ideal opportunity to go for this - but thought of giving out my experience anyway.
If thinking of moving it to IRA account, please let me know what is the procedure involved?
I will really appreciate if some can suggest me what are my other options.
Thanks,
As someone already mentioned you can go for rollover IRA - most of major investment companies offer this (infact will be eager to get any business).
Its a bad thing that your previous company is asking to move funds - but in a way its a blessing in disguise. In many companies (and their 401k custodians like Fidelity) - they allow to continue your funds in the 401k even after you leave the company - but as a non-employee you would incur more expenses and/or closed for some investing options. So continuing in the older 401k is not a great option in most cases (unless your previous 401k had very good funds which are now closed for new investors). Rollover IRA's are also good for another reason - you have more investment opportunities. In most of 401k's the number of available mutual funds are limited - but in rollover IRA it becomes much more flexible (I have a Fidelity rollover IRA account and has many funds and also an option to trade stocks). When I moved from one of my former employers (a top software company) I was too lazy to do anything and left it there for next five/six years; later as I gained more financial knowledge I digged into the funds and fees and came to know how much more I was charged as a non-employee - then moved to my current rollover IRA.
If you are more adventurous, there are other options as well. You can rollover into a self-directed IRA that allows to invest you in small private companies. There are a few custodians who allows this. Lets say someone has 10K in former 401k account - rolling over into a IRA with traditional fin. companies like Fidelity will give you access to many mutual funds and stock; with a small set of specialized custodians you can invest this 10K in a startup or even in real-estate. The custodian helps in the documentation so that you and the new company are very clear about everything. The key is you cannot be the owner of the company or real estate that you are investing but you can invest in a friends company or real-estate. I went to this route for one of my account and invested in a friends company who own commercial real-estate - with a 8% annual return rate for last year I can say its my best performing investment account. Obviously this is not for everyone and need lot of leg work and an ideal opportunity to go for this - but thought of giving out my experience anyway.
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kriskris
04-17 12:29 PM
As you understand there is no magic correct solution to this situation, but, whichever decision you make about which line your mother-in-law stands in, she should be well prepared to document her intention to return to her home abroad after her visit to the US. Documents she should be prepared to show could include: proof of home ownership or long term lease abroad, proof of bank accounts abroad, proof of car ownership abroad, fixed date return ticket, proof of family abroad--husband and/or other children/grandchildren, proof of some specific event she plans to attend abroad such as wedding or other invitations, etc.
Thanks for your reply. As I understand most people usually don't carry all the documents specified above while entering US. We carry those documents while going for the visa. Do you recommend carrying all those documents which establish ties to the home country while entering USA?
Thanks for your reply. As I understand most people usually don't carry all the documents specified above while entering US. We carry those documents while going for the visa. Do you recommend carrying all those documents which establish ties to the home country while entering USA?
more...
dpsg
03-25 03:03 AM
eb3_nepa,
We should point the advantages of immigration of high-skilled professionals,
and build a parallel source of information with "real research"... Our site
should have even the reports which show immigration in negative light as
long as they are from reputable impartial organizations.
Again we can win good deal for us by not fighting idealoges as logiclife
pointed, But By putting forward a constructive ROI for immigration
without bias.
<< I used ROI term.. as It is most common, Although in most cases US do no investment on immigrant which becomes
productive as soon as he/she lands..>>
********
had called NumbersUSA once. They will take the Absolute worst case scenario and project it as an everyday happening. The guy had mentioned to me that EB3 ppl promote chain migration and some get upto 80 (Yes 80) family members here. I tried arguing that it is TOTALLY impossible to bring more than five (i mean common u, ur wife and 3 kids = 5). You cant get ur parents etc., until you are a Citizen, but he wud not listen.
These guys are out to prove that immigration is a bad thing, and they will do their damndest to prove that point. They will not skew the facts, but they will present it in such a way that it looks a LOT worse than it actually is.
We should point the advantages of immigration of high-skilled professionals,
and build a parallel source of information with "real research"... Our site
should have even the reports which show immigration in negative light as
long as they are from reputable impartial organizations.
Again we can win good deal for us by not fighting idealoges as logiclife
pointed, But By putting forward a constructive ROI for immigration
without bias.
<< I used ROI term.. as It is most common, Although in most cases US do no investment on immigrant which becomes
productive as soon as he/she lands..>>
********
had called NumbersUSA once. They will take the Absolute worst case scenario and project it as an everyday happening. The guy had mentioned to me that EB3 ppl promote chain migration and some get upto 80 (Yes 80) family members here. I tried arguing that it is TOTALLY impossible to bring more than five (i mean common u, ur wife and 3 kids = 5). You cant get ur parents etc., until you are a Citizen, but he wud not listen.
These guys are out to prove that immigration is a bad thing, and they will do their damndest to prove that point. They will not skew the facts, but they will present it in such a way that it looks a LOT worse than it actually is.
gsc999
06-15 03:39 PM
No need to write "None"..just leave it blank. Thats what my attorney told.
--
Thanks, I will prefer to leave it blank.
Whats with so many diff. opinion about Alien # :eek:
--
Thanks, I will prefer to leave it blank.
Whats with so many diff. opinion about Alien # :eek:
more...
h1bemployee
06-22 01:39 AM
I came to US on Company A visa in Feb 2007... They filed for a H1b amendment and it got disapproved .. Company A asked me to transfer my Visa as they don't want to apply for a MTR ...
Company B applied for my transfer and started working for company B... But unfortunately this one also got denied and they gave the reason that Company B didn't provide a valid end Client letter
In the denial letter they stated that
"The beneficiary may remain in the current immigration status until date indicated on Form I94.. "
So what are my option now?
Can I work now? if not Can I work after Company B files MTR?
Company B applied for my transfer and started working for company B... But unfortunately this one also got denied and they gave the reason that Company B didn't provide a valid end Client letter
In the denial letter they stated that
"The beneficiary may remain in the current immigration status until date indicated on Form I94.. "
So what are my option now?
Can I work now? if not Can I work after Company B files MTR?
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rkiran
12-02 04:35 PM
Hi,
I have a similar situation and am going to the local office on friday.
Did you get the AP? Did they ask more specific questions about the illness and why it is urgent etc. I am still trying to get the letter and am trying to find out what should be included on it. Also, was your letter faxed or scanned or did you get the original.
Thanks,
Thanks for the input.
I actually went to my appoitnment this morning at my local uscis office, the lady was nice. but i was told that the hospital letter need to state what are my granma's sickness instead just sayong terminally ill. and she had me to go back with a new letter tomorrow, and if her supervisor approves it, I will get it right away.
just some info to share.
wish me luck!
I have a similar situation and am going to the local office on friday.
Did you get the AP? Did they ask more specific questions about the illness and why it is urgent etc. I am still trying to get the letter and am trying to find out what should be included on it. Also, was your letter faxed or scanned or did you get the original.
Thanks,
Thanks for the input.
I actually went to my appoitnment this morning at my local uscis office, the lady was nice. but i was told that the hospital letter need to state what are my granma's sickness instead just sayong terminally ill. and she had me to go back with a new letter tomorrow, and if her supervisor approves it, I will get it right away.
just some info to share.
wish me luck!
more...
shyamiv
08-13 11:45 AM
USA which is a so called developed country, takes 6 months to issue a passport due to the fact that USCIS is over...........loaded with work. So Flashing story is an old one and will only fit in Hollywood world.
The US Department of State Bureau of Consular Affairs issues a US passport to eligible citizens. Applying for passport and issuance is not a USCIS affair and hence is a lot faster i would say a month or less at most ! Had it been a USCIS affair.... most americans will still be tracking their passport case status online ! :)
The US Department of State Bureau of Consular Affairs issues a US passport to eligible citizens. Applying for passport and issuance is not a USCIS affair and hence is a lot faster i would say a month or less at most ! Had it been a USCIS affair.... most americans will still be tracking their passport case status online ! :)
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archanais
07-04 06:33 PM
I am ina worst situation. Prior employer is not ready to give Future employement letter inspite I have paid $8650 in GC processing cost and $5500 in transeferring H1b Visa and renewing the H1b. They even cancelled my H1b once I resigned.They have earned lot of money during my almost 2yrs of stay with them.
more...
anilvt
07-16 09:16 PM
Hello All,
I have a question....
The current processing date for Texas Service centre is July 17, 2007
I-485 Application to Register Permanent Residence or to Adjust Status Employment-based adjustment applications July 17, 2007
My receipt Date is July2nd2007 and current for EB2 PD March2007
I had inccorrect fee issue but it got resolved and later got EAD/AP
My case status show's wierd incorrect fees yet
When can i raise a Service Request? August 19th
RD + 30days
I spoke with REP or IO( don't know dialled 1-800 16621 #SRC...#1 #3 #4
She said your case looks fine
I said " what next" she said your case would be assigned to an IO
what do you guys think?
Thanks for help
I have a question....
The current processing date for Texas Service centre is July 17, 2007
I-485 Application to Register Permanent Residence or to Adjust Status Employment-based adjustment applications July 17, 2007
My receipt Date is July2nd2007 and current for EB2 PD March2007
I had inccorrect fee issue but it got resolved and later got EAD/AP
My case status show's wierd incorrect fees yet
When can i raise a Service Request? August 19th
RD + 30days
I spoke with REP or IO( don't know dialled 1-800 16621 #SRC...#1 #3 #4
She said your case looks fine
I said " what next" she said your case would be assigned to an IO
what do you guys think?
Thanks for help
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unit
09-16 04:17 PM
GCProbs,
Could you EDIT the title of this thread from "Need an advise" to "May not work for my GC sponsoring company" (or something similar) so that we can hear more from others who are in the same boat?
thanks.
Could you EDIT the title of this thread from "Need an advise" to "May not work for my GC sponsoring company" (or something similar) so that we can hear more from others who are in the same boat?
thanks.
more...
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ajju
09-25 12:22 PM
Good find - shows the plight of legal immigrants.
A bit of nitpicking - actually the chart is underestimating the time for EmploymentBased / skilled immigrants wait - says 11-16 years to get citizenship sort of suggesting 16 years is the worst case scenario to get citizenship. Its a bit underestimate especially for people coming from India/China. I have seen many people (including me) on these forums who entered US "legally" ten years ago and still waiting for GC with no idea when they would finally get it. Some of them might finally get citizenship 20 years after entering the country "legally".
On the whole it shows the reality of legal immigration and its waiting times.
Add wait time or prev unsuccesful attempts of paplying 485... So you can add... addition 4-5 years., fore unlucky people like me to be able to apply for a GC Application :D
A bit of nitpicking - actually the chart is underestimating the time for EmploymentBased / skilled immigrants wait - says 11-16 years to get citizenship sort of suggesting 16 years is the worst case scenario to get citizenship. Its a bit underestimate especially for people coming from India/China. I have seen many people (including me) on these forums who entered US "legally" ten years ago and still waiting for GC with no idea when they would finally get it. Some of them might finally get citizenship 20 years after entering the country "legally".
On the whole it shows the reality of legal immigration and its waiting times.
Add wait time or prev unsuccesful attempts of paplying 485... So you can add... addition 4-5 years., fore unlucky people like me to be able to apply for a GC Application :D
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satish_hello
07-19 02:24 PM
Hi ,
Even i got this same message on 5/19/2008, please look at my all posting, we have been discussing in seperate thread.
It is Hard LUD.
Please update if you get any info.
Thanks
Even i got this same message on 5/19/2008, please look at my all posting, we have been discussing in seperate thread.
It is Hard LUD.
Please update if you get any info.
Thanks
more...
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singhsa3
10-22 09:05 AM
But I've got two A#s and so as my spouse...
I do not think so, even though you have two application , there will be only 1 A# for each applicant.
We got only 1 FP notice for each of us. Our case is slightly different. I filed for myself and my wife. My wife filed for herself.
We did not apply for EAD and AP, through my wife. I applied from my side for both of us.
I do not think so, even though you have two application , there will be only 1 A# for each applicant.
We got only 1 FP notice for each of us. Our case is slightly different. I filed for myself and my wife. My wife filed for herself.
We did not apply for EAD and AP, through my wife. I applied from my side for both of us.
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Rajeev
10-11 09:43 AM
/\/\/\/\/\/\/\/\
more...
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morchu
04-23 03:04 AM
Focus on your goal. Emotions may not take you there.
If I am in your place, i wont argue with that lawyer. I will try to get full co-operation from that lawyer, and make him file another LC, after proper review from your side. Obviously you need support from employer also.
It is your choice. And yes you can file legal case against law firm. But then what?
Hello All,
My labor for the perm processing has been rejected (after 2 years) due to an incorrect field in the ETA form. This was lawyer's mistake and negligence in paying diligence in filling the form. Can I sue the lawyer? My options would be either to restart the processing or look for another law firm to file my application.
Please let me know if anyone has encountered the same problem? Can I file a legal case against the law firm?
Thank you
Ravi
If I am in your place, i wont argue with that lawyer. I will try to get full co-operation from that lawyer, and make him file another LC, after proper review from your side. Obviously you need support from employer also.
It is your choice. And yes you can file legal case against law firm. But then what?
Hello All,
My labor for the perm processing has been rejected (after 2 years) due to an incorrect field in the ETA form. This was lawyer's mistake and negligence in paying diligence in filling the form. Can I sue the lawyer? My options would be either to restart the processing or look for another law firm to file my application.
Please let me know if anyone has encountered the same problem? Can I file a legal case against the law firm?
Thank you
Ravi
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lostinbeta
10-21 01:51 AM
lol. Yeah I know your just kidding about that 3rd grader stuff mr. Iworkedforeidosandnike :P
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bablata2007
11-27 03:36 PM
May be I wasnt clear in my query. Here is the situation:
I am on 8th yr H1B extension. Got my LC approved, got EAD, finger printing done. So now just waiting for 485 to be approved. And if I lose my job to a layoff.....what are my options?
So an H1B transfer will still work out in my case?
I am on 8th yr H1B extension. Got my LC approved, got EAD, finger printing done. So now just waiting for 485 to be approved. And if I lose my job to a layoff.....what are my options?
So an H1B transfer will still work out in my case?
rkm
07-17 06:52 PM
Just made payment $100.00
Thank you
Thank you
sandiboy
08-28 06:10 PM
FP Completed today for self/spouse. LUD on 485 applications.
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