At the very top, type your full name and full residential address. This is not only the place for you to start the process but also to provide the information that the USCIS in order to send you a letter or to ask you to provide more information or even require you to attend an interview at a local USCIS office with original documents, in case that is needed.
1. Here you must provide your and date/place of birth. If you were born in the USA, then, this is it. However, if you were born outside the US, then, provide the relevant information.
2. A bit of repeat here but you now need to provide your age on the date you are completing this form and then add the date since which you have been living in the US.
3. In this space, you will provide the details about the foreigner for whom you are completing the form. Hopefully, you will have the exact details like age and address, but if not, it is better to confirm this so that it matches with their passports and visa application, rather than create a confusion.
4, 5, and 6. There is nothing to complete but it is important to understand what you are going to sign. In simple language, you are committing to taking care of these individuals as long as they are in the US so that the burden of supporting them does not fall on the US government. Also, you will make sure that these individuals will definitely leave the United States before their visas expire. You need to have this understanding with the aliens you plan to support so that there is no confusion. In case, something goes wrong, the United States Government can sue you and possess your assets and income. Generally speaking, most of the time, things go well, but you may insist that your overseas family or friends have a travelers health insurance policy before they arrive for the duration of the trip (particularly if they are in poor health or plan to engage in extreme sports) because it is the medical bills that will drive you bankrupt.
7. Provide the area of work you do (if you are unemployed or retired or choose not to work you can say that as well) and if employed, add the name and address of your employer. Then state your annual income. If you have money in a checking or savings bank account, provide that dollar number. If you have other personal properties like boats, cars, jewelry, etc. provide an estimated value. If you invest in stocks either in form of an investment account or through IRA/401K, add the value from the latest statement (assuming you will provide a copy of the monthly statement and this is what I recommend), or from the latest value (in case you have just recently added more funds to the account or that the value of your investments has dramatically jumped from the last statement). If you carry a life insurance policy, state its value here. You may have to call your insurance company to find this out, but you will need to provide a cash surrender value of your policy as well (this is the amount your insurance firm will pay in case you cancel the policy before maturity, and typically, depending on the type of policy, it is a lot less or even zero). Finally, give an estimated value for your home (you probably have a rough of how much your home is worth, if not, you can try websites like Zillow, or just put what you think is a reasonably good estimate based on what homes like yours are selling for in the area), and of course, you need to provide the remaining balance on your mortgage (if any) and then the address of the property. Leave this space blank if you rent, but if you do own a property but not live in it, make sure that you include it.
8. Do you have any dependents? For instance, if your wife works only part time, you could list her as partially dependent, but if she makes even more money than you, there is no reason to declare her as a dependent.
9, 10. I am assuming that you have not sponsored other aliens in the past and they are still in the US at this time (if they came and already left, then, it does not count). If they are here, provide the details. If not, just write none.
11. Assuming that you plan to help these aliens while they are here (that is why this document because otherwise these foreigners will be able to pay for themselves), write exactly what you will do. I have provided an example for someone who will let the guests stay in their home and take a few trips here and there.
Finally, print and sign. Now make sure that you attach copies of your bank/brokerage/mortgage/life insurance statements. Also if you listed other assets, provide a copy of a document that supports that. The idea is that the USCIS officer can look at evidence and be convinced that you just did not pull those numbers out of a hat.