know what you need to know
July 21, 2020
Everyone needs to manage their finances. The stakes are high for those living in a country illegally who need security. Not only must they support themselves in the U.S., but they must pay the cost associated with their immigration case.
Even before a case begins, funds may be needed in order to pay for applications and fees. Many of the forms that are needed for visas, or a green card typically cost over $100 and could range to several hundreds. (2)
Establishing a paper trail is also essential . By setting up a bank account or a credit card, and paying taxes, public records can corroborate the amount of time that someone has been living in the country. This could be vital evidence in a immigration case, showing that the defendant has lived in the U.S. for several years could sway the judge’s decision.(2)
There are some instances in deportation cases where judges base their decision on deportation by weighing the positive and negative factors of residency. Positive validation for the judge’s decision would be having records of their finances and the taxes paid.(2)
It is also encouraged that the defendant have a secure fund available in case it is needed to pay bond.
ITIN: Individual Taxpayer Identification Number
An identification number is needed to open a bank account or get a credit card. The most common identification number is a social security number. Green card holders, individuals that have been granted asylum, refugees and people with certain visas, or people who have been naturalized and become U.S. citizens qualify for this identification.(4)
Those who do not qualify for a social security number need an Individual Taxpayer Identification Number (ITIN). These are granted to foreign nationals who are working in the U.S. and paying taxes to the Internal Revenue Service (IRS). Anyone can apply for an ITIN when they file federal taxes to the IRS.
There are a number of documents that are required to apply for a ITIN:
1. Form W-7, Application for IRS Individual Taxpayer Identification Number
2. Proof of identification and foreign status. It must have the applicant’s name and photograph. In many cases, the applicant may need to provide two documents. Only 13 specific documents are accepted 13 and they must be the original or certified copy. They include:
The IRS allows the applicant to mail in the documents when the application is submitted. Or, the applicant can make an appointment with the IRS on their website to present the documents in person. While the IRS will send the documents back to the applicant if mailed , it’s better to make an appointment in person to avoid not handing over personal documents. (4)
How Undocumented Immigrants Can Open a Bank Account
1. Individuals must provide the bank with their name, date of birth, and one of the following documents:
2. Individuals must provide proof of residence in the U.S. This could be a number of documents that have the applicant's address, such as a utility bill, lease or current driver’s license.
3. They will need to provide their identification in one of the following ways:
An emergency fund, or a “Rainy Day” fund, is crucial. This can ensure that they can pay for healthcare, house repair, or fighting a deportation case. It is also a good base to start accumulating stability. The emergency fund is a place where money is set aside for emergencies. (6)
An emergency fund does not need to be extravagant, nor should it be a strain on everyday finances like food, bills, and clothing. The payment to the fund can be as little as $10 per month. After time, the fund will grow and it may become very valuable when money is needed. (6)