Annual Form I-924A Seasons Has Arrived re: Immigration

USCIS recently held a stakeholders teleconference as part of its informational series, EB-5 Interactive. The main topic of the teleconference concerned the “time to file” for the Form I-924A, which must be filed annually in order to demonstrate continued eligibility for designation as a regional center. USCIS indicated on the teleconference that a regional center can file the Form I-924A, for a one year reporting period or for a reporting period for multiple years. USCIS did not provide guidance as to when or whether that was necessary.

In order to complete the Form I-924A, the following information must be provided in part 3 for the particular reporting period (i.e. the previous fiscal year):

The amount of capital invested through the regional center;

The names, addresses, and industry category title of each job creating enterprise located in the regional center’s geographic area;

The number of new jobs directory or indirectly created through the regional center;

The number of jobs maintained in a “troubled business” through the regional center; and

The total number of approved, denied, or revoked I-526 and I-829 petitions filed by EB-5 investors through the regional center.

The Form I-924A is important because in order to demonstrate eligibility for continuing designation as a regional center, each regional center must continue to promote economic growth and development, improved regional productivity, job creation or increased domestic capital investment in the center’s geographic area. Regional centers that were designated on or before September 30, 2015, will need to submit their Form I-924A by December 29, 2015. Additionally, the Form I-924A form may be filed during other time periods if requested by USCIS. It should be noted that there is no filing fees associated with the Form I-924A form and all Form I-924As and supporting documentation must be filed with the USCIS at the California Service Center as opposed to the Immigrant Investor Program office in Washington, DC. Forms filed to the Immigrant Investor Program office in Washington, DC will be rejected). Failure to file the Form I-924A in a proper and timely manner may result in USCIS issuing a Notice of Intent to Terminate (NOIT) the regional center’s designation, which serves to terminate participation in the program. USCIS will issue a receipt notice unless it rejected. If needed, email customer service if the receipt notice is not received after 21 days. It is also important to note that USCIS requires original signatures, not by typewriter or autopen in the place of the preparer and applicant.

http://www.natlawreview.com/article/annual-form-i-924a-seasons-has-arrived-re-immigration

Mentions

• Jennifer Hermansky
• U.S. Citizenship and Immigration Services

States

• New York