President Joe Biden and his aides reportedly are preparing to announce his 2024 reelection bid as soon as next week.

Four sources familiar with the matter told CNN that Biden and his team are targeting Tuesday for the release of a video announcement that will coincide with the four-year anniversary of his 2020 campaign launch. Unforeseen delays are possible, but a decision has been reached “that it is no longer helpful or necessary to not just say the obvious: He’s running,” said one unnamed senior Democratic official.

Biden has signaled for months that he plans to run for a second term, but he has been in no rush to make it official. In the background, preparations for Biden’s 2024 run have been extensive within both the White House and Democratic National Committee.

An announcement Tuesday would come right before the first major donor gathering next Friday.

Biden recently traveled to Ireland and confirmed that an announcement was forthcoming.

“I’ve already made that calculus. We’ll announce it relatively soon,” Biden said as he departed. “The trip here just reinforced my sense of optimism about what can be done.”