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EB-5 Insights Where Government Policies and Business Realities Converge

Reminder to Complete Form I-924A

Posted in I-924, Regional Center

In order to demonstrate continued eligibility for the Regional Center designation, the Regional Center must file Form I-924A (Supplement to Form I-924A) and supporting documentation between September 30th and December 29th of the fiscal year. Thus, all Regional Centers who were designated on or before September 30, 2014, will need to submit their Form I-924As between October 1, 2014, and December 29, 2014. Without properly and timely filing the Form I-924A, USCIS may issue a Notice of Intent to Terminate (NOIIT) the Regional Center’s designation.

At the September 9, 2014, USCIS EB-5 Stakeholder Conference, Director Nick Colucci provided important filing tips for Form I-924As. Director Colucci stated that in the previous year, 29 Regional Centers failed to file Form I-924A which resulted in an issuance of NOIITs to those centers. In fact, Director Colucci stated that 24 NOITTs were issued to Regional Centers because they failed to demonstrate how they were promoting economic growth as stipulated in the regulations. Furthermore, Director Colucci stated that inactive regional centers should also submit a statement with their Form I-924A explaining why their regional center was inactive this past year. Additionally, Director Colucci advised that the statement should also include how the Regional Center has previously promoted economic growth and development.

There is no filing fee associated with filing the I-924A, and it should be filed with USCIS at the California Service Center. Regional Centers should meet with counsel to discuss how to properly file their annual I-924A with sufficient supporting evidence to show that the regional is promoting economic growth.