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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