No rule fixes a list. How to prove lawful origin, control and transfer of E-2 funds: foreign sales, gifts, loans, inheritance, per 9 FAM 402.9.
Reviewed by Ekaterina Fitenko, Esq. — Florida Bar #1064536. With 20+ years of experience in the legal field, she helps Russian- and Ukrainian-speaking investors build the paper trail behind an E-2 investment, in English and Russian.
To prove the source of E-2 funds, you show three things on paper: the money came from a lawful source, it was yours to invest, and it actually reached the business. No regulation fixes a required list. 9 FAM 402.9-6(B)(b) says the consular officer "may request whatever documentation is needed to properly assess the source of the funds," and 9 FAM 402.9-2 places the burden of proof on the applicant.
The legal test sits in 8 CFR 214.2(e)(12): the capital must not have been obtained "directly or indirectly, through criminal activity," and the investor must be "in possession of and have control over the capital invested or being invested." An unexplained gap in the chain does not prove anything criminal. It simply leaves the applicant without proof on a point the applicant has to prove.
The nearest thing to an official list is the suggested checklist in 9 FAM 402.9-11(B), as read on November 6, 2026. The manual calls it a guide only, and says other evidence may be submitted. We use its headings below, and we say where we go past it, because gifts, foreign real estate and cryptocurrency are not spelled out there.
This article covers proof of origin only. How much must be invested is a separate question, covered in our E-2 guide.
Three questions run through every source-of-funds file, and each needs its own documents. A bank statement with a large balance answers only part of the second one.
| Question | Rule | Typical proof |
|---|---|---|
| Where did the money originally come from? | 8 CFR 214.2(e)(12); 9 FAM 402.9-6(B)(b) | Sale contract, tax return, payroll or dividend record, inheritance papers |
| Is it yours, under your control? | 8 CFR 214.2(e)(12) | Account in your name, title documents, gift deed, personal loan documents |
| Did it reach the enterprise? | 9 FAM 402.9-6(B)(d)–(e); 9 FAM 402.9-11(B) | Wire transfer receipts, escrow statement, closing papers, invoices |
Think of the file as one continuous line from the earliest event to the U.S. business account. Each step has an amount, a date and a document, and each step's ending balance has to match the next step's beginning. We build it as a dated table with the supporting document tabbed beside each row. 9 FAM 402.9-11(B) asks applicants to tab and index their evidence and to highlight corroborating figures.
Section IV.C of the 9 FAM 402.9-11(B) checklist, "Source of Investment," names these items. They are examples, and a good file uses those that fit the facts.
The net worth statement deserves a word of caution. 9 FAM 402.9-6(D)(d) warns that unverified and unaudited financial statements based exclusively on information supplied by the applicant are normally insufficient to establish the nature and status of an enterprise. That passage concerns the enterprise, yet the same logic applies here. A summary an accountant prepared from what you told him is a guide to the evidence and cannot replace it.
Section IV.D then lists evidence that the money went in. For an existing enterprise it names escrow statements and receipts, the signed purchase agreement, closing and settlement papers, loan documents and promissory notes. For a new enterprise it names inventory and shipment invoices, canceled checks, the lease, initial business account statements and wire transfer receipts.
Show ownership first, then the sale, then the money arriving in your account. 9 FAM 402.9-11(B) asks for transactions showing payment of sold property or business together with proof of ownership. For an apartment sold in Kyiv, Almaty or Moscow, that usually means the document showing how you acquired it, the registered sale contract, and the bank statement crediting the proceeds.
The classic problem in post-Soviet files is a contract price that does not match the money. If the registered contract states a lower price than the buyer actually paid, the file proves only the lower figure, and the difference has no documented origin. We do not paper over such a gap. We count only what the documents prove, and then look for other evidence or a smaller claimed amount.
Selling a business adds one layer. Company records must show that you owned the shares, that the buyer paid you personally, and that the money did not stay inside the company. A dividend or sale paid to a company you own is the company's money until it is properly distributed to you, and the possession-and-control rule in 8 CFR 214.2(e)(12) is applied to the investor.
Foreign-language papers need translation. For a filing with USCIS, 8 CFR 103.2(b)(3) requires a full English translation with the translator's certification of completeness, accuracy and competence. For a consular filing, follow the post's own instructions on language and format.
Gifts are expressly allowed. 9 FAM 402.9-6(B)(b) lists gifts among permitted sources, and the applicant must then demonstrate possession and control. The checklist does not list gift documents, so what follows is how we build it, and not a government requirement.
We prepare a signed gift statement that names the giver and recipient, gives the amount and date, and says that no repayment is expected. We attach proof of transfer into the investor's own account. We also document the giver's source, because the officer's question about origin does not end at the person who handed over the money. A gift from a parent with no visible income leaves the same hole as a deposit with no explanation.
The wording matters. If the giver expects to be paid back, the money is a loan, and the debt analysis applies. If the giver expects a share in the business, it may change the ownership picture, and that can affect the 50 percent showing under 8 CFR 214.2(e)(16). The paper should reflect the real arrangement, because the interview will test it.
A loan counts only if the investor bears the risk personally. Under 9 FAM 402.9-6(B)(c)(2), debt secured by the applicant's own personal assets, such as a second mortgage on a home, or an unsecured loan on the applicant's personal signature, may be included. Under 9 FAM 402.9-6(B)(c)(1), a mortgage or commercial loan secured by the assets of the enterprise cannot count, "even if some personal assets are also used as collateral."
The file for a personal loan should contain the loan agreement or promissory note, any security agreement showing which personal asset stands behind it, proof of ownership of that asset, and proof of disbursement to you. The checklist names mortgage documents, loan documents, promissory notes and security agreements.
A loan from a friend or relative needs the same discipline. Show the lender's ability to make the loan and show a repayment schedule that the business does not secure. A private note with no terms and no visible source for the lender's money looks like an undocumented deposit with a signature on it.
Savings from earned income are the simplest source and still need a record. Employment contracts, tax declarations, payroll statements and the accumulating account history should show income large enough to explain the savings. A long gap between income and balance is the usual weak spot.
Inherited money counts and an inherited business does not. 9 FAM 402.9-6(B)(b) lists inheritance as a source, and in the same paragraph it says "Inheritance of a business itself does not constitute an investment." Cash from an estate, or proceeds from selling inherited property, can be invested. Prove it with the inheritance certificate, and for any sale, follow the steps above.
Cryptocurrency is not named in 9 FAM 402.9-6 or in the checklist, as read on November 6, 2026, so there is no specific rule to quote. The general rule applies: "funds and other assets" under 8 CFR 214.2(e)(12) and "other legitimate sources" under 9 FAM 402.9-6(B)(b). In a file we would treat it as a trace problem: how the coins were acquired, exchange account statements in your name, conversion to fiat, and the bank credit. Expect close questions, and do not plan on a wallet balance alone being accepted.
The money does not have to come from abroad. 9 FAM 402.9-6(B)(b) says the source need not be outside the United States, so U.S. savings or a personal U.S. loan can qualify on the same terms.
It can, though the problem sits outside the E-2 rules. The treaty rules ask about lawful origin. U.S. sanctions are administered separately by the Treasury Department's Office of Foreign Assets Control, whose Russia-related program under Executive Order 14024 was being updated as recently as October 2026. A U.S. bank applies those rules to incoming wires whatever your visa plan is.
Check the route before moving the money. Find out whether the sending bank and each intermediary are acceptable to the receiving bank, and get that answer from the bank's compliance team. Sanctions questions go to a sanctions specialist, and we will tell you when a transfer needs one. A Russian passport does not qualify for E-2 on its own in any event; this section matters for treaty nationals whose assets sit in those countries. See which passports qualify.
Follow the dollars into the enterprise with documents from both ends. 9 FAM 402.9-6(B)(e) says uncommitted funds in a bank account will not suffice, so the file needs proof of commitment: the purchase agreement and escrow receipt in a purchase, or the lease, equipment invoices and canceled checks in a startup. The total on those documents should tie to the amount the source-of-funds table claims.
Personal spending has to stay separate. 9 FAM 402.9-6(B)(g) requires that goods or equipment be for investment and not personal purposes. A car or a home on the business account weakens the numbers and raises questions. We tell clients to run all investment money through the business account from the first day, and to keep each receipt.
If you are changing status in the United States on Form I-129, the same rules apply and the audience changes. As of November 2026, USCIS policy under PA-2026-05 of August 5, 2026 says that USCIS may deny without a request for evidence when required initial evidence is missing. A file should therefore be complete on the day it is filed. A consular officer may simply refuse, and 9 FAM 403.10 says there is no formal appeal of a nonimmigrant visa refusal, only a new application.
Our initial consultation is $200 for 30 minutes, paid by card through a link before the meeting, and it is always credited toward your fee. We hold it on Google Meet, by phone, or at our office at 11555 Heron Bay Blvd, Suite 277, Coral Springs, FL 33076. We take clients from other states and other countries, and that work runs on Google Meet.
For a source-of-funds question, bring a rough timeline of where the money was at each step. In 30 minutes we can usually see which link is weak and what to request from a bank or registry abroad. Those requests take time, so start early. See also our E-2 visa page and our investor and business visa services.
Standard E-2 representation starts at $6,000. A complicated case is priced by agreement once we have seen it. USCIS filing fees and consular visa fees are not part of our fee. The full fee schedule is on our legal fees page.
We do not promise outcomes, and Florida Bar rules do not allow us to. To start, fill out the intake questionnaire at fitenkolaw.com/intake, call (305) 315-3425, or email fitenkolaw@gmail.com. Our second office at 600 Three Islands Blvd, Hallandale Beach, FL 33009 receives clients by prior appointment only.
No regulation fixes a list. 9 FAM 402.9-6(B)(b) lets the officer request whatever is needed, and the suggested checklist in 9 FAM 402.9-11(B) names net worth statements from a certified accountant, records of sold property or businesses with proof of ownership, lease agreements for rental income, bank vouchers and statements, and audited financial statements. The file must show lawful origin, your possession and control, and the money reaching the enterprise.
No rule sets a number of years. The burden rests on the applicant under 9 FAM 402.9-2, and the officer may ask for what is needed to assess the source. Go back far enough to reach an event that explains the money by itself, such as the sale of an asset, documented earnings or an inheritance. For a sold apartment, that means going back to how you acquired it.
Yes. 9 FAM 402.9-6(B)(b) lists gifts as a permitted source, and you must demonstrate possession and control of the funds. In our practice we document the gift in a signed statement with no repayment obligation, prove the transfer into your account, and document where your parents got the money, because a gift with no visible source leaves the origin question unanswered.
The file can prove only what the documents show. If the registered contract states less than the amount received, the difference has no documented origin, and you should not count it without other reliable evidence. Under 8 CFR 214.2(e)(12) the capital must not come from criminal activity, and under 9 FAM 402.9-2 the applicant carries the burden. Talk to us before the interview, because a mismatch is better handled in the file than explained on the spot.
Yes. 9 FAM 402.9-6(B)(b) says the source of funds need not be outside the United States. A loan counts only if it is unsecured or secured by your own personal assets. A loan secured by the business does not count under 9 FAM 402.9-6(B)(c), even if some personal assets are also pledged.
No rule in 9 FAM 402.9-6 names cryptocurrency, as read on November 6, 2026, so the general standard applies: lawful origin, possession and control, and traceability under 8 CFR 214.2(e)(12). Expect to document how the assets were acquired, exchange statements in your own name, and conversion to currency through a bank. An unexplained wallet balance will not carry the file.
The first step is the intake questionnaire at fitenkolaw.com/intake. The consultation is $200 for 30 minutes, paid by card through a link before the meeting and always credited toward your fee. It runs on Google Meet, by phone, or at our Coral Springs office, in English or Russian. You can also call (305) 315-3425 or email fitenkolaw@gmail.com.
This article is informational only and is not legal advice. Treaty tables, State Department guidance, USCIS policy, forms and fees change; confirm current requirements with the Department of State and USCIS before acting. Reading this page does not create an attorney-client relationship.
Fitenko Law PLLC, 11555 Heron Bay Blvd, Suite 277, Coral Springs, FL 33076 (main office); 600 Three Islands Blvd, Hallandale Beach, FL 33009 (by appointment only). Phone: (305) 315-3425. Email: fitenkolaw@gmail.com