The Department of Homeland Security (DHS) has unveiled a Notice of Proposed Rulemaking (NPRM) that promises substantial relief to the EB-5 Immigrant Investor Program community, with significant reductions to key program fees . This unexpected proposal, which is now open for public comment, marks a welcome shift, especially after recent fee increases across other immigration categories.

This is a critical development for both investors and Regional Centers, as it directly impacts the financial feasibility of participating in the program.

Key Proposed Fee Reductions for Investors and Regional Centers

The proposed rule, driven by a fee study mandated by the EB-5 Reform and Integrity Act of 2022, suggests lowering the fees for several core EB-5 benefit requests. While a previous fee rule dramatically increased EB-5 fees, the new NPRM aims to align USCIS resources with the program’s requirements and enhance program integrity.

Note: The proposed fee for the initial I-526/I-526E includes a new $95 technology fee, which is intended to support improvements to IT systems and program infrastructure.

Analysis of the Impact

• For Investors (Form I-526/I-526E and I-829): The reduction of over $1,500 on the initial petition and over $1,600 on the subsequent petition to remove conditions makes the overall path to permanent residency through EB-5 more cost-effective.

• For Regional Centers (Form I-956 and I-956G): Regional Centers are set to see the most substantial cuts, with the initial designation application and the annual statement fee decreasing by nearly 40%. This is a significant relief, particularly given the increased compliance burdens introduced by the EB-5 Reform and Integrity Act of 2022.

Beyond the Fee Reductions: Integrity and Modernization

In addition to adjusting fees, the NPRM proposes other key regulatory changes aimed at solidifying the program’s foundation, including:

• New Form I-527: The proposed rule introduces a fee of $8,000 for a new form, Form I-527, Amendment to Legacy Form I-526. This form will allow certain investors with “legacy” I-526 petitions to make amendments.

• Codification of the Integrity Fund: The NPRM formally codifies the structure for the EB-5 Integrity Fund fees and penalties, which were established under the 2022 Reform Act to finance anti-fraud and compliance efforts.

• Clarity for Derivatives: The rule also clarifies the filing process for derivative family members (spouses and children) when they must file their own Form I-829 (Petition to Remove Conditions on Permanent Resident Status) separately from the principal investor.

What Comes Next: The Public Comment Period

This is only a proposed rule, and it is not yet in effect. The DHS has opened a 60-day public comment period following its publication in the Federal Register.

Cohen, Tucker + Ades encourages all EB-5 stakeholders—Regional Centers, developers, and investors—to carefully review the NPRM and consider submitting comments. This is a crucial opportunity to influence the final version of the rule and ensure that the ultimate fee structure supports the program’s vitality and integrity.

We will continue to closely monitor all developments related to this NPRM. For guidance on how these proposed changes may impact your existing or planned EB-5 investment strategy, or for assistance in preparing a comment submission, please contact our experienced immigration law team.

Disclaimer: The information contained in this blog post is provided by Cohen, Tucker + Ades for general informational purposes only and is not, nor is it intended to be, legal advice. The details regarding the Department of Homeland Security’s (DHS) Notice of Proposed Rulemaking (NPRM) are based on the latest available public information and are subject to change during the formal rulemaking process. A proposed rule is not a final rule, and the actual fees and regulations may differ from those listed above once the final rule is published. You should consult an attorney for advice regarding your individual situation, legal rights, and obligations under the EB-5 program. The use of this information does not create an attorney-client relationship between you and Cohen, Tucker + Ades.