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Writer's pictureDye Global Immigration

Important Update for EB-5 Regional Centers: New Audit Requirements from USCIS.



The EB-5 program is undergoing significant changes with the implementation of the EB-5 Reform and Integrity Act. A key aspect of this is the introduction of mandatory audits for regional centers. Here at Dye Immigration Services, we want to ensure you're informed about these new requirements.


What You Need to Know:


Mandatory Audits:

USCIS will now audit all designated regional centers at least once every five years. These audits aim to verify the accuracy of information provided in applications, annual certifications, and associated investor petitions.


Focus of the Audit:

Audits will review documentation maintained by the regional center and track the flow of immigrant investor capital into projects.


Cooperation is Crucial:

USCIS may conduct site visits during audits. Your full cooperation is essential. Refusal to participate in a site visit could lead to designation termination.


Audit Results and Consequences:

Negative audit findings generally won't directly impact affiliated entities or investors unless there's non-compliance or deliberate obstruction. However, USCIS may use the findings to re-evaluate your designation or scrutinize associated petitions more closely.


New Auditing Standards:

Started April 23rd, 2024, audits will follow Generally Accept Government Auditing Standards (GAGAS). This ensures a thorough and consistent review process.


We're Here to Help!


Dye Immigration Services is committed to helping our clients navigate the complexities of the EB-5 program. If you have questions regarding the new audit requirements or the EB-5 program in general, don't hesitate to contact us.


For more information visit this link.



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