EB5 Investors Magazine | Page 16

gram’ s original intent: promotion of economic development in U. S. communities.
The Basics 4
Form I-924A is an application and serves as a supplement to Form I-924. Each designated regional center entity must file a Form I-924A for each federal fiscal year( October 1 through September 30) after Form I-924 approval within 90 days of the end of the federal fiscal year( on or before December 29).
The principal of a regional center is the applicant and this individual must sign the form. If an attorney or representative assists in preparing the application, he or she must also sign the form and attach a completed Form G-28. The final submission must contain original signatures.
Tips and Recommendations
The form can be confusing to complete and many of the instructions are ambiguous. USCIS seems to understand the unwieldy nature of Form I-924A, as it has recently solicited comments on the current form. We may see a new version of the form in the near future, but for now, here are the best tips for the current version:
1. Filing Form I-924A is required for every regional center, even if no I-526 or I-829 petitions were filed and zero funds were released to new commercial entities( NCEs) or job-creating enterprises( JCEs) during the fiscal year, which may be the case for newly established or inactive regional centers. Regional centers may wish to proactively provide attached documentation to the filing to demonstrate promotion activity, like evidence of licenses, permits, property purchase in support of a project, and other evidence of ongoing regional center activity.
2. The one-size-fits-all nature of the form is not always conducive to accurately reflecting the nuances and variations across projects and regional centers. When appropriate, insert an asterisk or footnote next to the applicable section that requires an explanation, and make any clarifying notes as appropriate. Add continuation sheets if necessary.
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