To ensure successful I-829 filing, EB-5 issuers should establish procedures to track the flow of an EB-5 investor’s funds throughout the entire EB-5 lifecycle – not just through the escrow account.
When an investor begins the EB-5 process, their funds are typically wired into a subscription escrow account, where they are then held until release conditions are met.
After funds leave escrow they move to the operating account of the New Commercial Enterprise, or NCE. During this process it is essential to track each investors’ funds individually to provide appropriate documentation that the full amount of the investment was “irrevocably committed” to the investment into the NCE.
If the project is structured as an equity investment, the funds may be deployed directly from the NCE into job creating expenses and tracked throughout deployment.
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