Introducing Form I-924 and I-924A

[Note: please check my “Recent Posts” for updates on the I-924 Form.]

At the EB-5 Stakeholder Meeting on June 16, 2010, USCIS provided the following information on its proposed forms for Regional Center applications and reporting.

Proposed Form I-924
The Proposed Form I-924, Application for Regional Center under the Immigrant Investor Pilot Program, will be used for the filing of both initial RC applications and amended RC applications. The Form I-924, which will has a proposed filing fee of $6,230 will:

• Clarify filing requirements for the RC designation;
• Improve the quality of RC applications;
• Better document eligibility for the Pilot Program;
• Alleviate content inconsistencies among applicants’ submissions; and
• Support a more efficient process for adjudication of the RC applications.

The USCIS Services Fee Schedule “Fee Rule” was published for public comment in the Federal Register on June 11, 2010. [CIS No. 2490–09; DHS Docket No. USCIS–2009–0033] The Form I-924 and I-924 instructions are available for review at www.regulations.gov. This folder contains new and revised versions of the forms; be sure to download the most current ones (posted on 9/27/10). I have commented on the forms in a number of posts, including notes on the 9/27/10 revisions.

Proposed Form I-924A
The Form I-924A, Supplement to Form I-924, is the proposed vehicle for a yearly RC reporting requirement. Each approved RC will be required to file the I-924A to report RC-related activities for the preceding fiscal year within 90 days of the end of the fiscal year (on or before December 29th of the calendar year in which the fiscal year ended.) There is no proposed filing fee for the Form I-924A.

USCIS plans to publish an aggregation of the data provided each year by all designated regional centers, to include attributes of the RC-affiliated capital investments, such as:
1. the geographic areas and industry categories receiving investment capital;
2. The volume of regional center affiliated capital invested, and;
3. The number of jobs created or maintained as a result of the capital investments.
This summarized data will be published on the USCIS Web site for each fiscal year following the publishing of the Form I-924A. The Form I-924A is available for review at www.regulations.gov.