FORM I-924A: PRACTICAL CONSIDERATIONS FOR EB-5 REGIONAL CENTERS
By Jane Zhang
As the number of EB-5 regional centers has grown rapidly from less than a dozen a decade ago to more than 850 1 today, U. S. Citizenship and Immigration Services( USCIS) officials stressed at a recent stakeholder engagement session that regional center operators must file Form 1-924A annually or face termination from the program.
On October 24, 2016, USCIS announced a filing fee of $ 3,035 for each Form I-924A filed on or after December 23, 2016. Previously there was no filing fee required to file Form I-924A. 2 file Form I-924A on time because an untimely submission will result in the issuance of a notice of intent to terminate the participation of a regional center in the EB-5 program. 3
As a vital part of the EB-5 program, regional centers are limited partnerships or limited liability corporations that pool investments from immigrants to fund a range of projects. Regional center operators must
As regional centers grow in number and maturity, Form I-924A is an increasingly useful tool for USCIS to determine a regional center’ s continued eligibility, along with its effectiveness in fulfilling the EB-5 pro-
1: As of Oct. 3, 2016; see generally www. uscis. gov / eb-5centers. 2: U. S. Citizenship and Immigration Services Fee Schedule, 81 Fed. Reg. 205( Oct. 24, 2016). Federal Register: The Daily Journal of the United States. See https:// www. gpo. gov / fdsys / pkg / FR-2016-10-24 / pdf / 2016-25328. pdf.
3: Significant changes to a regional center( e. g., a change in management or ownership, if there is a sale, etc.) must also be reported on Form I-924A within 30 days. This post only discusses annual Form I-924A filings.
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