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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help43
09-25 12:26 AM
When I Applied For A Amendement.
My Previous Status Was Approval Notice Sent.
My Previous Status Was Approval Notice Sent.
lostinbeta
10-04 12:12 AM
Oh yeah "layer 1" just refers to the layer with the original shape and "layer 2" just refers to the layer with the fill. They assume you aren't giving names to your layers which is why they have it in quotes.
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GCNirvana007
10-08 05:03 PM
You have to actually work for company A- be on their staff, be on their payroll, be there full time employee. W2 is only issued if u work with them and draw salary.
Ok. So whoever runs my payroll is my employer. Lets say its Company C.
Question is
Am I obligated to Company A in any way?
Am I obligated to Company B which had my recent H1B?
Based on the answers i am assuming no but will wait to hear from you guys.
Ok. So whoever runs my payroll is my employer. Lets say its Company C.
Question is
Am I obligated to Company A in any way?
Am I obligated to Company B which had my recent H1B?
Based on the answers i am assuming no but will wait to hear from you guys.
more...
amitjoey
03-14 04:44 PM
How about a monthy subscription? Donate some money every month. Could be $100, $50 or even just $20
GCard_Dream
03-06 04:38 PM
Back in the old days when there weren't as many IV members, people thought twice before giving a red dot to anyone. Now it has become kind of a fashion. You can get a red dot for asking questions someone thinks has already been asked or for asking simple questions which someone thinks that you should know or if you don't agree with someone's viewpoint etc etc. You might get a red dot if someone doesn't like your handle :D (I hope this is not true)
After someone presented a data of how many visas were allocated to India in past five years, I made a comment that India has in fact gotten far more visas than the allowed 7% in past few years. That was just an observation from the data presented yet I ended up with about 200 disapprovals and 2 red dots. I didn't say that India shouldn't have gotten those visas or if it was fair/unfair to anyone else but lot of people just hated the comment.
It just shows how intolerant IVians have become to other people's point of view. I am sure I'll get a red dot for this too :D
so now people give red dots just for asking a question about EB3...where is ACLU:D
After someone presented a data of how many visas were allocated to India in past five years, I made a comment that India has in fact gotten far more visas than the allowed 7% in past few years. That was just an observation from the data presented yet I ended up with about 200 disapprovals and 2 red dots. I didn't say that India shouldn't have gotten those visas or if it was fair/unfair to anyone else but lot of people just hated the comment.
It just shows how intolerant IVians have become to other people's point of view. I am sure I'll get a red dot for this too :D
so now people give red dots just for asking a question about EB3...where is ACLU:D
more...
Hassan11
06-10 11:33 AM
my 485 is pending at NSC. my job is located In Virginia. where do I send my ead renewal?? Please help. Thanks
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wandmaker
11-27 03:41 PM
bablata2007: What is the status of your 140?
more...
pd_recapturing
08-14 06:18 PM
Bumping up !
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bliss_yyu
07-20 08:16 AM
no, i think you are exempt from cap. lucky u!
more...
gjoe
08-21 02:31 PM
I am almost there and expecting green card approval anytime. But now I am having second thoughts now. The desi consulting company I work for had eight people a year ago and two of them now going back (and one more is negotiating) at salaries 20-35 lacs. Has anyone explored Indian job market, if yes then what is hot?
If you have a couple of crores (INR) you can start your own reality business. Big returns if you have the right connections.
If you have a couple of crores (INR) you can start your own reality business. Big returns if you have the right connections.
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cjain
07-23 04:38 PM
well. won't you need the receipt when you travel..i thought one was required to carry the receipt when traveling internationally.
more...
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RSM1444
04-04 02:05 PM
Some body with priority date of Dec 2008 voted yes. It looks like some confusion.
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tinkugadu
07-04 09:27 PM
My state in four lines
1) Came to US on F-1 Visa, never completed my masters
2) Shifted to H-1B and i have been with the same client and havent been to India for four years.
3) Now i am doing part time MBA from a top Ivy league school and i have $40,000 in loans from my MBA. i have not finished it as yet.
4) Applied for labor and priority date is Jan 2007 and i wanted to apply for 1-485 and AP and Skip H-1B stamping
But because of the july 2nd i cant do that anymore and i will have to go to H-1B stamping. I wonder what will happen if my stamping gets rejected. If dont attend classes for 4 months. My student loan will start asking for monthly payments. I am in a quagmire.
But still i have decided that i will go to India in any case and if payments become overdue for more months. I dont know what to do.
I had so many hoped on the current numbers . Any idea guys what can i do?
1) Came to US on F-1 Visa, never completed my masters
2) Shifted to H-1B and i have been with the same client and havent been to India for four years.
3) Now i am doing part time MBA from a top Ivy league school and i have $40,000 in loans from my MBA. i have not finished it as yet.
4) Applied for labor and priority date is Jan 2007 and i wanted to apply for 1-485 and AP and Skip H-1B stamping
But because of the july 2nd i cant do that anymore and i will have to go to H-1B stamping. I wonder what will happen if my stamping gets rejected. If dont attend classes for 4 months. My student loan will start asking for monthly payments. I am in a quagmire.
But still i have decided that i will go to India in any case and if payments become overdue for more months. I dont know what to do.
I had so many hoped on the current numbers . Any idea guys what can i do?
more...
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sats123
03-12 08:00 PM
Thanks for reply and suggestions.
I called again today and same story. The representative asked me to refile again by paying $305. He said it cannot be reprinted.
Application was processed at NSC, I will keep calling every two days until I get a reply similar to what gc28262 got.
I called again today and same story. The representative asked me to refile again by paying $305. He said it cannot be reprinted.
Application was processed at NSC, I will keep calling every two days until I get a reply similar to what gc28262 got.
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snathan
02-13 01:14 AM
H1B - LCA Related Issues - How can we save ourselves ???
HI
I guess everybody know by now that ICE arrested 11 H1 workers mainly due to mail fraud/wire fraud, and these frauds
I am starting this thread to discuss what we can do to save ourselves from LCA related issues.
** LCA is very important and H1 b employees should work as per LCA - Period.
Location, job and every thing should be as per LCA. No questions.
I am afraid, most of the H1b guys do not even have LCAs with them.
** This is very concerned for all the DESI Consulting companies H1 employees, as we never work at LCA place. I am going to give ultimatum to my employer to change LCA and keep all the docs in place. Otherwise i am going to change to employer, where they are good wrt papers.
Please throw your suggestions to make our H1 system clean and save H1 employees.
Whenever you move from one state to another....urge your employer to file the LCA amendment. Thats the only way to save ourself.
HI
I guess everybody know by now that ICE arrested 11 H1 workers mainly due to mail fraud/wire fraud, and these frauds
I am starting this thread to discuss what we can do to save ourselves from LCA related issues.
** LCA is very important and H1 b employees should work as per LCA - Period.
Location, job and every thing should be as per LCA. No questions.
I am afraid, most of the H1b guys do not even have LCAs with them.
** This is very concerned for all the DESI Consulting companies H1 employees, as we never work at LCA place. I am going to give ultimatum to my employer to change LCA and keep all the docs in place. Otherwise i am going to change to employer, where they are good wrt papers.
Please throw your suggestions to make our H1 system clean and save H1 employees.
Whenever you move from one state to another....urge your employer to file the LCA amendment. Thats the only way to save ourself.
more...
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gsc999
07-17 04:17 PM
Let us start sending Thank you flowers to IV core memebers such as Logic life, pappu ( i know only these two people) Please add to the list if you know anybody belong to Core team.
--
We recently used flowers as a sign of protest. My suggestion is not to send flowers to either IV core or congresswoman Zoe Lofgren or anyone else. That might send a mixed message although the intentions are good.
Instead of flowers, I recommend a funding drive. That would help the core IV to have more resources at their disposal to push for the next step, which is long term solution for visa retrogression.
--
We recently used flowers as a sign of protest. My suggestion is not to send flowers to either IV core or congresswoman Zoe Lofgren or anyone else. That might send a mixed message although the intentions are good.
Instead of flowers, I recommend a funding drive. That would help the core IV to have more resources at their disposal to push for the next step, which is long term solution for visa retrogression.
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loveiv
05-25 10:23 PM
Most of I-485 applications are currently stuck with the State Department's Visa Bulletin retrogression which are many years behind. However, aside delays which are attributed to the visa number retrogressions, the cases which were filed during the July 2007 Visa Bulletin fiasco period are expected to take nearly three years from the end of the USCIS itsself processing and adjudications in terms of the workloads, according to the CRS report. July 2007 VB fiasco filers, go figure!
According to the CRS report, the USCIS issues before the Congress are as follows from the perspectives of FY 2009 budget:
USCIS Issues for Congress. USCIS issues for Congress include the surgein immigration benefit applications that occurred in FY2007 and which resulted in an increase in the agency’s backlog, and the use of the Federal Bureau ofInvestigation’s (FBI’s) National Name Check program to vet immigration benefitapplications.
Surge in Benefit Applications and Resulting Backlog. According to the testimony of USCIS Director Emilo T. Gonzalez, USCIS experienced an increasein its backlog of naturalization applications in the second half of FY2007.116 From May through July of 2007 USCIS received three and a half times more applications than during the same three months in the previous year.117 Consequently, published accounts indicate that processing time for applications filed during the FY2007 “surge” would be between 16-18 months, as compared to 6-7 months for applications filed in the same period during FY2006.118 For all immigration benefits, the USCIS director testified that the agency received over 1.2 million more applications during the FY2007 surge than in the same period during FY2006, for a total of over 3 million applications. According to media reports, USCIS officials believe that the backlog created by the application surge could take close to three years to clear. Although citizenship campaigns and a contentious national immigration debate have been cited as contributing factors, many observers believe most of the surge in
applications may be attributed to the USCIS fee increase of July 30, 2007. These fee adjustments followed an internal cost review and they increased application fees by a weighted average of 96% for each benefit. The cost of naturalization, formmigration benefit applications that occurred in FY2007 and which resulted in an increase in the agency’s backlog, and the use of the Federal Bureau of Investigation’s (FBI’s) National Name Check program to vet immigration benefit applications.example, increased from $330 to $595. Critics of this new naturalization backlog have mainly raised concerns that applicants would not naturalize in time toparticipate in the 2008 election. USCIS did not include a request for direct appropriations to hire additional temporary personnel to adjudicate the backlog.
Use of FBI National Name Check Program. An additional potential issue for Congress concerns USCIS’ use of the Federal Bureau of Investigation’s (FBI) National Name Check Program. USCIS officials have estimated that roughly 44% of 320,000 pending name checks for immigration benefit applications have taken more than six months to process, including applications for legal permanent residence (LPR) and naturalization. As a result, the White House has authorized USCIS to grant approximately 47,000 LPR applicants their immigration benefits without requiring completed FBI name checks. Critics of this decision believe it could expose the United States to more security threats. The USCIS ombudsman, however, has argued that USCIS employment of the FBI name check process is of limited value to public safety or national security because in most cases the applicants are living and working in the United States without restriction.
Source: www.immigration-law.com
Three years clock ticks from the day filed, one year is down, two to go.
According to the CRS report, the USCIS issues before the Congress are as follows from the perspectives of FY 2009 budget:
USCIS Issues for Congress. USCIS issues for Congress include the surgein immigration benefit applications that occurred in FY2007 and which resulted in an increase in the agency’s backlog, and the use of the Federal Bureau ofInvestigation’s (FBI’s) National Name Check program to vet immigration benefitapplications.
Surge in Benefit Applications and Resulting Backlog. According to the testimony of USCIS Director Emilo T. Gonzalez, USCIS experienced an increasein its backlog of naturalization applications in the second half of FY2007.116 From May through July of 2007 USCIS received three and a half times more applications than during the same three months in the previous year.117 Consequently, published accounts indicate that processing time for applications filed during the FY2007 “surge” would be between 16-18 months, as compared to 6-7 months for applications filed in the same period during FY2006.118 For all immigration benefits, the USCIS director testified that the agency received over 1.2 million more applications during the FY2007 surge than in the same period during FY2006, for a total of over 3 million applications. According to media reports, USCIS officials believe that the backlog created by the application surge could take close to three years to clear. Although citizenship campaigns and a contentious national immigration debate have been cited as contributing factors, many observers believe most of the surge in
applications may be attributed to the USCIS fee increase of July 30, 2007. These fee adjustments followed an internal cost review and they increased application fees by a weighted average of 96% for each benefit. The cost of naturalization, formmigration benefit applications that occurred in FY2007 and which resulted in an increase in the agency’s backlog, and the use of the Federal Bureau of Investigation’s (FBI’s) National Name Check program to vet immigration benefit applications.example, increased from $330 to $595. Critics of this new naturalization backlog have mainly raised concerns that applicants would not naturalize in time toparticipate in the 2008 election. USCIS did not include a request for direct appropriations to hire additional temporary personnel to adjudicate the backlog.
Use of FBI National Name Check Program. An additional potential issue for Congress concerns USCIS’ use of the Federal Bureau of Investigation’s (FBI) National Name Check Program. USCIS officials have estimated that roughly 44% of 320,000 pending name checks for immigration benefit applications have taken more than six months to process, including applications for legal permanent residence (LPR) and naturalization. As a result, the White House has authorized USCIS to grant approximately 47,000 LPR applicants their immigration benefits without requiring completed FBI name checks. Critics of this decision believe it could expose the United States to more security threats. The USCIS ombudsman, however, has argued that USCIS employment of the FBI name check process is of limited value to public safety or national security because in most cases the applicants are living and working in the United States without restriction.
Source: www.immigration-law.com
Three years clock ticks from the day filed, one year is down, two to go.
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singhsa3
08-19 10:13 AM
Admin/Moderators and other distinguish members,
Can we use this site for networking and socializing with people in similar situation and/or sharing similar vocations....
This would mainly include invitation for a public gathering and encourage others to come forward. Examples of nature of such public gathering:
1. Say people in finance sector meet and exchange thoughts
2. Religious in nature but will not be solicitation.
3. General meeting etc...
What do people in this forum think?
Thanks
Can we use this site for networking and socializing with people in similar situation and/or sharing similar vocations....
This would mainly include invitation for a public gathering and encourage others to come forward. Examples of nature of such public gathering:
1. Say people in finance sector meet and exchange thoughts
2. Religious in nature but will not be solicitation.
3. General meeting etc...
What do people in this forum think?
Thanks
enggr
10-12 08:15 PM
Here is my recent experience. I have only 2yrs out of 6yrs of H1B.Recently i applied for extension(applied for 3yrs instead of 2yrs based on approved 140) and received RFE from USCIS and asked for approved copy of 140. We send it and got the approval.
Thanks
Hi Kmdhar,
Thank you for your reply. My issue is I don't have an approved I-140 as the first one was denied and 2nd one is pending.
Any thoughts on how we get this extension petition approved to the max of my 6 years?
Thanks
Hi Kmdhar,
Thank you for your reply. My issue is I don't have an approved I-140 as the first one was denied and 2nd one is pending.
Any thoughts on how we get this extension petition approved to the max of my 6 years?
extra_mint
09-15 01:11 PM
Congratulations ....
wow !!! freedom when your wife is in India ....go to strip bar and have fun:) you need to enjoy
wow !!! freedom when your wife is in India ....go to strip bar and have fun:) you need to enjoy
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