Form I-924A – Annual Reporting for EB-5 Regional Centers
This is a quick reminder to all EB-5 Regional Centers that it is time to file Form I-924A, the annual reporting form used to demonstrate a Regional Center’s continued eligibility for the Regional Center designation.
This form must be filed for each fiscal year (October 1 through September 30) within 90 days after the end of the fiscal year (on or before December 29) of the calendar year in which the fiscal year ended. The failure to timely file a Form I-924A Supplement will result in the issuance of an intent to terminate the participation of the regional center, which may ultimately result in the termination of the approval and designation of the regional center.
As a note, 340 of the 369 Regional Centers approved as of September 30,2013 submitted timely I-924As for that fiscal year; Of the remaining 29, some filed late and some were issued a Notice of Intent to Terminate (NOIT) and some ultimately were terminated for failing to file (it is not clear how many might have been forgiven for failure to file on time).
An additional 24 NOITs were issued and remain pending based on failure to fulfill job promotion obligations under 8 C.F.R. 204.6(m)(6), and the speakers acknowledged that a letter explaining steps taken to cultivate projects may carry sufficient weight to counterbalance a lack of projects
and related filings.
and related filings.
IIUSA Members can view the powerpoint presentation from the November 6th webinar “Year Four of Regional Center Annual Reporting on Form I-924A” byclicking here. The webinar featured IIUSA President K. David Andersson, IIUSA Vice President Robert C. Divine, and Klasko Law Partners Associate Daniel B. Lundy.
The webinar recording is also available for $99/members and $199/nonmembers here.
