USCIS TO START COLLECTING FEES FOR EB-5 INTEGRITY FUND

On March 1, 2023, the Department of Homeland Security (DHS) provided further information on the EB-5 Integrity Fund. The U.S. Citizenship and Immigration Services (USCIS) will use the EB-5 Integrity Fund primarily to administer the EB-5 Regional Center Program, as required by the EB-5 Reform and Integrity Act of 2022. Starting March 1, USCIS will collect an annual fee from each designated regional center to finance the EB-5 Integrity Fund. The fee for regional centers with more than 20 investors is $20,000. The fee for regional centers with 20 or fewer investors is $10,000. Payments for Fiscal Year (FY) 2023 are due on April 1, 2023. To pay, regional centers must use Pay.gov to render payment online. Starting in FY 2024 (October 2023), the fee will be due at the start of each fiscal year between Oct. 1 and Oct. 31. Additionally, filing fees for Form I-526E, Immigrant Petition by Regional Center Investor, have increased by $1000 to incorporate the Integrity Fund fees. USCIS will not apply late fees for any payments due in FY 2023. Late fees will be imposed at the start of FY 2024 for payments that are 30 days past due. The exact late fee amount has yet to be announced by USCIS. USCIS is mandated to terminate any regional center that does not pay the fee within 90 days of the due date. Termination will not be automatic, and we will provide a notice of intent to terminate and the opportunity to prove that the fee was paid in the proper amount within 90 days of the due date before sending a notice of termination. Williams Global Law has a particular depth of experience with both direct and regional center EB-5 investments. If you or your company wants experienced immigration counsel regarding the EB-5 program, schedule a consultation today with one of our immigration attorneys today. Source