As part of the landmark EB-5 Reform and Integrity Act, the U.S. Citizenship and Immigration Services (USCIS) introduced the Form I-956G, Regional Center Annual Statement. This new form replaces the previously used Form I-924A, Annual Certification of Regional Center. The purpose of the Form I-956G is to gather essential information and evidence from regional centers in order to demonstrate their continued eligibility for regional center designation. Below, we outline five crucial things that every Regional Center should know about the Form I-956G.
1. Where Should Form I-956G Be Filed?
Do not file at USCIS’ Immigrant Investor Program office in Washington D.C. A Regional Center must submit the form and relevant evidence to a USCIS office in Texas before the December 29, 2023 deadline.
2. What Happens if Form I-956G is Not Filed?
A failure to file Form I-956G may result in sanctions for failing to file in a timely manner for each Federal fiscal year in which the regional center has been designated. Sanctions include possible termination of the regional center’s designation that could adversely impact the immigration status of existing EB-5 immigrant investors.
3. Is There a Fee Separate from the Annual EB-5 Integrity Fee?
Yes. There is a $3,035 filing fee required for Form I-956G. This filing fee is separate from the annual EB-5 Integrity Fee each regional center must also submit. In September 2023, USCIS advised it will take steps to terminate any regional center that has not paid the required EB-5 Integrity Fund fees for FY 2023 and FY 2024 by Dec. 30, 2023.
4. What is “Attachment 1”?
“Attachment 1” is required for each NCE. This attachment includes details about each new commercial enterprise sponsored under its designation with “active EB-5 investors,” those who filed Form I-526/Form I-526Es or have obtained conditional permanent residence and not yet filed the Form I-829.
5. What Does “Attachment 1” Require?
Attachment 1 requires documentary evidence that (1) shows how the new commercial enterprise was funded, (2) when funds were distributed to the job-creating entity, (3) how many jobs have been created to date, and (4) a disclosure of fees collected from EB-5 investors.
Regional Centers are advised to start preparation of Form I-956G early. For expert EB-5 assistance on Form I-956G, please contact attorney Joey Barnett at jbarnett@wolfsdorf.com.
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