On September 17, 2015, the U.S. Citizenship and Immigration Services (USCIS) held the EB-5 Interactive Series: Annual Reporting Requirements for Continued Eligibility within the Regional Center Program, (Form I-924A) teleconference.
Immigrant Investor Program Office (IPO) representatives walked through several sections of Form I-924A, which Regional Centers must submit annually to demonstrate that they have continued to promote economic growth and maintained their eligibility as a Regional Center.
As IPO officers noted, to remain in compliance with EB-5 program requirements, Regional Centers must file an I-924A to notify the USCIS of significant changes to their organization or within 90 days of the end of the fiscal year. Issuers must submit their I-924As to the California Service Center between October 1st and December 29th.
Throughout the engagement, the USCIS encouraged Regional Centers to “show their work” by including supplemental information to corroborate or explain any potential ambiguities in their I-924A reporting. The USCIS also reminded EB-5 issuers of the importance of accurate reporting requirements, warning against inconsistencies with relevant I-526 and I-829 petitions or information provided elsewhere in the I-924A itself.
They suggested issuers submit supplemental documentation to the I-924A in a number of potentially complex or ambiguous situations, making comprehensive tracking and documentation even more essential for EB-5 issuers, especially as compliance requirements continue to increase.
