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If you are an EB-5 investor in a Regional Center project, you may be interested to learn of new information released by the U.S. Citizenship and Immigration Services (USCIS) regarding Regional Center audits.

In March 2022, with the passage of the EB-5 Reform and Integrity Act of 2022, Congress implemented new reforms designed to increase the oversight of Regional Centers to prevent fraud and abuse within the immigrant investor program.

Among these fraud prevention mechanisms, USCIS established the EB-5 Integrity Fund, funded by annual regional center fees and immigrant petition fees, to detect and investigate fraud and other crimes related to the program, ensure compliance, conduct regional center audits (every five years) and site visits (for each new NCE or JCE).

USCIS recently released information confirming that the agency must audit each designated regional center at least once every five years.

What is done during a Regional Center audit?

Audits are performed during a site visit which include a review of documentation required to be maintained by the regional center and a review of the flow of immigrant investor capital into any capital investment project.

Effective April 23rd audits will be utilizing the Generally Accepted Government Auditing Standards, also known as the Yellow Book. The Yellow Book provides standards and guidance for auditors and audit organizations.

What is the purpose of Regional Center audits?

Regional center audits are conducted to strengthen the integrity of the EB-5 program by verifying information in regional center applications, annual certifications, and associated investor petitions.

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On January 30, 2024, the U.S. Citizenship and Immigration Services (USCIS) published a final rule in the Federal Register making significant fee increases for various immigration applications and benefit requests. This fee increase will be the first major adjustment in the filing fees since 2016. The increase is meant to address the agency’s operational and financial challenges to support the timely processing of new applications.

The fee increase will take effect starting April 1, 2024. All applications postmarked after this date will be subject to the fee increases in the final rule.

TIP: To avoid paying the higher fees, USCIS must receive applications before April 1, 2024.

Highlights

  • Form I-130 (Petition for Alien Relative), used to petition for family members, including marriage green cards, will increase by 26% to $675 for paper filing, and $625 for online filers.
  • Form I-129F (Petition for Alien Fiancé(e)), used by U.S. Citizens to petition for their fiancé(e) to enter the U.S., will increase by 26 percent from $535 to $675
  • Form I-485 (Application to Register Permanent Residence or Adjust Status), used by immigrants seeking a green card for permanent residency, will increase by 18% from $1,225 to $1,440. Employment authorization, and advance parole, will now cost an additional $260 and $630, respectively. Previously these applications carried no additional cost when filing them alongside adjustment of status applications

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In this blog post, we close out the week with some great news that may be of interest to EB-5 Immigrant Investors.

On Tuesday July 18th the U.S. Citizenship, and Immigration Services (USCIS) announced new changes to the processing of Form I-526, Immigrant Petition by Alien Investor, for EB-5 investment to improve processing times and create greater efficiency.

How Will USCIS Process I-526 Petitions?

The USCIS Immigrant Investor Program Office (IPO) manages Form I-526 petition inventory through workflow queues factoring in whether: a visa is available (or will be available soon) and the underlying project has been reviewed.

Workflow queues are generally managed in first-in, first-out (FIFO) order when a visa is available or will be available soon.

Effective July 18, 2023, IPO will update its approach by grouping petitions by new commercial enterprise (NCE) with filing dates on or before November 30, 2019, within the workflow queue of petitions where the project has been reviewed and there is a visa available or soon to be available, to gain greater processing efficiencies.

In practice this means that multiple petitions with the same new commercial enterprise (NCE) will be assigned to the same adjudicator(s) to help process them more quickly. This is because multiple petitions associated with the same NCE will have an overlap in project documents and issues presented.

This approach will help reduce current EB-5 backlogs, that are stretching to a 4 to 5 year waiting period from date of filing.

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