Since the Second World War Europe has been an immigrant destination, however, recently the immigration and its socio-economic aspects have been in the centre of European Union leaders’ agenda. The immigration in the EU is a continuous process of receiving newcomers with different motives. The positive and negative aspects of immigration and potential economic opportunities have been widely studied in the literature. In light of the population aging in the developed countries the immigration is perceived as having a positive but limited influence on mitigating population ageing. At the same time immigration has an ambiguous impact on wages, growth, sustainability of the fiscal system and other economic aspects. In this paper we apply National Transfer Accounts (NTA) methodology to calculate the complete set of NTA results for immigrants and natives in five EU countries. The NTA methodology shows how much people consume and produce at different ages and how the difference between those two categories (i.e. ‘the life cycle deficit’) is financed. It can be through public transfers (public health, education, pensions), private transfers (for example, parents financing the consumption of their children) or asset-based reallocation (for example, loan, dividends, imputed rents). We find that immigrants are facing longer periods of life cycle deficit which is mainly due to the lower labour income. Also, despite the fact that in the EU the public transfers play the most important role of financing the life cycle deficit in old age, we discover that in three of the analysed countries the asset-based reallocations are very important flow for financing the immigrants’ deficit. In light of the ongoing population ageing we believe that the asset-based reallocation is very important topic to be further investigated.