Key Points
- The EB-5 Regional Center program expired on June 30, 2021
- USCIS will reject all pending Regional Center EB-5 applications and petitions
- Forms I-924 and I-526 received on or after July 1, 2021, will be rejected
- Green cards will not be issued for pending applications
- The program may be reinstated depending on Congressional action before August recess
Overview
On June 30, 2021, US Citizenship and Immigration Services (USCIS) allowed the EB-5 Regional Center program to expire.
What are the Changes?
As of July 1, 2021, USCIS will reject all pending Regional Center EB-5 applications and petitions. The agency will also reject Forms I-924 and Forms I-526 received on or after July 1, 2021. Since the EB-5 program has officially ended, USCIS cannot issue green cards or approve pending EB-5 applications. That leaves thousands of EB-5 applications in a program backlog. USCIS has not yet provided details on how it will handle applications that were submitted but not approved before the EB-5 sunset date.
Background
The EB-5 program has been the subject of litigation for years. One of the biggest challenges for the program has been funding, as lawmakers are divided on the minimum investment requirements, they deem suitable for the program. Additionally, the EB-5 program has historically been excluded from automatic renewals during the Congressional budgetary process. However, Congress has previously stepped in to save the program from extinction.
Looking Ahead
Although the EB-5 program has received bipartisan support, lawmakers have not yet announced if the program will likely be renewed before August. The next few weeks will provide more insight as to whether or not history will repeat itself for the EB-5 program. If the program is not extended, USCIS may face legal challenges for failure to administer the program.
