What can be done now if securities and due diligence info/reports were not submitted with the EB-5 I-526 application in Sept. 2015? We rushed to submit the EB-5 application to avoid the expected change of laws at the deadline. Can a lack of securities and due diligence documentation result in I-526 denial?
If you are the only investor into a new commercial enterprise, then you may not need the securities offering documents and the due diligence report. If it is an EB-5 regional center project with a number of investors, then the securities offering documents are a requirement for the EB-5 petition filing.
More likely you will receive an RFE requesting those documents.
In my experience, USCIS typically issues a Request for Evidence (RFE) for any missing information.
If security and due diligence info/reports were not submitted given the rush, most likely you will have to wait to see if a Request for Evidence is issued - at which time any missing documentation can be submitted. It is more likely that rather than receiving a denial, you will receive a Request for Evidence.
A visa petition has to be approvable at the time it was filed. If the relevant offering documents and facts did not exist when the petition was filed, the petition could be denied. In order to have made a valid investment, there would have to have been a valid and binding investment contract. Also, the project must be identified, and it must be clear what is being done, how much it will cost, how long it will take and how the jobs will be created. Some of the supporting evidence can be submitted later in response to an RFE, but if all of it was missing, USCIS might find that the petition was not approvable when filed.
The due diligence report is for your benefit as an investor. Compliance with SEC regulations should be mentioned in the application paperwork. You could wait and see if you receive an RFE regarding this portion or submit the report with a letter of explanation as to why it is late.
Securities documents are important, due diligence, not so much. You will likely get a Request for Evidence.
In the event that USCIS requires further information, USCIS will issue a Request for Evidence. At that time you will have an opportunity to provide any missing information that may be requested.
