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Potential Developments for USCIS form I 526

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Shades of things to come. Speak up or shut up! Those who fail to speak up when asked will be told to drop dead when they come forth with complaints later.

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Potential Developments for USCIS form I 526

  1. 1. Form I-526 Changes Suggested in Comment to FR Noticeand USCIS’ Responses to Them in a Supporting StatementSuggested Specific Form Changes:1) Change Part 2 of Form I-526.Part 2 currently includes options for the alien to indicate if their investment will bein:a) a TEA where the investment amount has been adjusted downward;b) a high employment area where the investment amount has been adjustedupward; orc) an area that is neither a TEA nor adjusted upward.USCIS and INS before it never implemented the upward adjustment as allowed bythe statute. USCIS should either actually write a regulation for upward adjustmentor make no mention of it on the form. It does not seem realistic that anyone wouldever actually make an investment in an upward adjustment area so it would beeasier to dump the concept from the form. I suggest that Part 2 of the form bechanged to allow investors to indicate more meaningful information. I suggest thatthe part be broken down into two subparts or two separate parts, whatever. Forinstance:Type of Investment:a) Regional Center affiliated investment;b) Stand-Alone Investment; orc) Member of a Non-Regional Center-Affiliated Investor Group.Investment Amount:a) Standard Investment Amount ($1,000,000.00);b) Downward Adjusted Investment Amount Within a targeted Employment Area:i) Rural Area;ii) High Unemployment Area (150% or more of national average).USCIS response: The suggestion for modification of Part 2 is being considered andwill likely be incorporated at least in part into [the] next form revision. Page 1 of 3 November 16, 2011
  2. 2. 2) Change Part 3 of Form I-526In Part 3 of the Form I-526, the last item asks the investor to identify the area bycounty and state if an upward or downward adjustment was indicated in Part 2.This information collection can be eliminated from this part and collected in amore meaningful way elsewhere.I suggest that Part 3 start by asking for Regional Center affiliation information, ifany. Currently the form asks the investor to identify all “natural” and “non-natural”parties who are investors involved in the commercial enterprise and to list onseparate paper all names etc... This information can be more easily tracked byidentifying the Regional Center and specific RC project. In the rare situationswhere a non-RC group is formed, this information should be requested via theaccompanying business plan and/or associated partnership documentation asspecified in the form instructions. The form instructions are a whole other matterthat USCIS already has under review and I will wait to see what is put forth in thenear future before commenting on them.USCIS response: The suggestions are noted and USCIS does intend to incorporateregional center specific information collections into Form I-526 in the next formrevision.3) Suggestions to have “bulk” filing of documentation to support multiple filings.I believe that the more crucial matter involved in the I-526 petition is theindividual investor’s financial documentation as to source and path of lawfulfunds. The vast majority of I-526s are Regional Center affiliated (~95%) and theRegional Center should be providing information as to the non-EB-5 funds in asingle submission as a supplement to the entire project in support of ALL the EB-5alien investors involved in such a project.RC sponsors charge their EB-5 investors hefty fees to coordinate such matters.RC’s charge anywhere from $20,000.00 to $80,000.00+ each in “managementfees” or “subscriptions fees” or whatever they happen to call it. USCIS licensesRegional Centers when it Designates them and has a responsibility and right tooversee and ensure that the RC sponsors hold up their end of the bargain on suchmatters and not cheat their B-5 alien investors. Bulk submission of shared evidencespecific to a RC Project would be easier for ALL parties: the RC, the alieninvestors, and USCIS. Page 2 of 3 November 16, 2011
  3. 3. Although I first bring this issue up in discussing the RC affiliated non-EB-5investors’ financial documentation (such as audited reports), it readily applies tothe Project Specific Business Plan and the associated Economic Analysis. Why onGod’s green earth would USCIS want 20 to 300 copies of documentation the sizeof a Los Angeles or NYC telephone book? Why should EACH RC-affiliated I-526need a full copy of the shared documentation? That makes NO SENSE.USCIS response: This suggestion has merit but due to system constraints will besaved for consideration as part of USCIS’s Transformation initiative.4) Changes to Part 4 of Form I-526Part 4 of the I-526 asks the investor to identify the type of enterprise. This partshould offer more meaningful options such as:a) a brand new business,b) a troubled business in which existing jobs will be preserved,c) a troubled business in which existing jobs will be preserved AND new jobs willbe added,d) an existing business expansion to at least 140%, ore) a significant and/or total restructuring of an existing business such that the endresult will be a new business.USCIS response: The suggestion for modification of Part 4 is being considered andwill likely be incorporated at least in part into next form revision.Comment Submitted by Joseph P. Whalen Dated August 12, 2011Document ID: USCIS-2007-0021-0020 Document Type: Public SubmissionThis is a comment on a Notice1: Agency Information Collection Activities:Extension of a Currently Approved Information Collection; Comment RequestDocket ID: USCIS-2007-0021 Posted August 16, 2011http://www.regulations.gov/#!documentDetail;D=USCIS-2007-0021-0020I-526, Supporting Statement 11-2-11Docket ID: USCIS-2007-0021 Posted November 16, 2011http://www.regulations.gov/#!documentDetail;D=USCIS-2007-0021-00241 FR Notice of August 12, 2011. http://www.regulations.gov/#!documentDetail;D=USCIS-2007-0021-0018 Page 3 of 3 November 16, 2011

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