Regional Centers are reminded of the upcoming December 29, 2014 deadline to file their regional center reports for the 2014 Fiscal Year. As explained in our October 28, 2014 post, USCIS recommends that regional centers complete all fields on Form I-924A as well as include a letter describing the regional center’s activities and marketing efforts to help explain the regional center’s operations.
The failure to timely comply with the annual reporting obligation could result in the termination of a regional center’s designation. In fact, USCIS notified more than 50 EB-5 regional centers on its intent to terminate their designation during the 2013 Fiscal Year. And, this enforcement trend by USCIS is only expected to increase. As such, regional centers should seek the advice of immigration counsel to ensure that the regional center is timely and properly filing their Form I-924A with the required supporting evidence.
For more information, please contact Maria del Carmen Ramos at 813.227.2252 or mramos@slk-law.com.