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Article | Invest In the USA (IIUSA)

EB-5 fund administration: An important service aligning with the Reform and Integrity Act of 2022

March 25, 2024 · Authored by Chris LeBeau

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Related sections

  • Real Estate
  • Professional Services
  • Real Estate Investors
  • EB-5 Immigrant Investor Program
  • Development Advisory
  • Project Finance
  • Real Estate Valuation Services

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EB-5 Immigrant Investor Program
eb-5

Administered by the United States Citizenship and Immigration Services (USCIS), the EB-5 Immigrant Investor Program gives foreign investors the ability to obtain a U.S. Green Card by investing in job-creating projects. In 2022, the Reform and Integrity Act (RIA) was passed to prevent the misuse of EB-5 funds, which had become more prevalent over the last couple of years due to an absence of oversight.

The RIA requires that EB-5 transactions need to be either audited or controlled by a fund administrator that is independent of the new commercial enterprise, regional center and job-creating entity, and must be a licensed CPA, attorney or broker-dealer.

In this Invest In the USA (IIUSA) article, Baker Tilly Manager Chris LeBeau shares why it is so important to have a capable EB-5 fund administrator as part of your team to ensure EB-5 project success.

Read the full article

Key takeaways

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  • The benefits of working with an outsources fund administrator: Outsourcing fund administration provides a scalable solution, which accommodates changes in fund size and complexity, allowing fund managers to focus on core investment activities while leaving administrative tasks to professionals.
  • Why utilizing a licensed CPA is vitally important: A licensed, active, CPA (which is now required under the RIA) can provide multiple benefits by acting as an administrator. CPAs are highly trained professionals with a deep understanding of accounting principles, tax laws and financial regulations.

Related sections

  • Real Estate
  • Professional Services
  • Real Estate Investors
  • EB-5 Immigrant Investor Program
  • Development Advisory
  • Project Finance
  • Real Estate Valuation Services

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EB-5 Immigrant Investor Programeb-5
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Combining EB-5 and Opportunity Zones

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  • Full life cycle involvement: Fund administration is typically carried out from the launch of the fund until the formal windup/liquidation of the fund – the entire EB-5 life cycle.
  • Document management: Fund administrators are required to maintain accurate records of investors’ capital contributions, immigration documentation and compliance-related materials.

    • Baker Tilly’s experienced fund managers have years of experience managing many unique EB-5 projects. We provide oversight to ensure that your EB-5 projects are meeting their reporting obligations to investors and USCIS and that there is a high degree of transparency with every transaction.

    Connect with our team to learn more about our EB-5 fund administration services.

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    EB-5 Immigrant Investor Program

    Our experienced EB-5 team provides regional center support, business plan preparation, economic impact studies, fund administration services and much more.

    Explore our EB-5 services