January 3, 2023 – Today the U.S. Citizenship and Immigration Services (USCIS) posted a Notice of Proposed Rulemaking (NPRM) recommending an increase in EB-5 Fees, among other immigration fees.
Overview
USCIS uses fees from petitioners to recover operating costs and to reduce and prevent case processing backlogs. Every few years, USCIS conducts a comprehensive fee review, to forecast the expenses associated with the time and resources needed for adjudication of each petition and the revenue anticipated from receipt of new applications. USCIS typically receives 96 percent of its funding from filing fees, as opposed to Congressional appropriations.
Fee Increase
The proposed fee for Form I-526E, Immigrant Petition by Regional Center Investor, is $11,160, a $7,485 or 204 percent increase from the current $3,675 fee.
The proposed fee for Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, is $9,525, a $5,775 or 154 percent increase from the current $3,750 fee.
Processing Times
Over the past few years USCIS’s capacity to timely adjudicate cases, has decreased. The EB-5 Reform and Integrity Act of 2022 requires USCIS to set fees at a level sufficient to recover the costs of completing investor petition adjudications within an improved processing time of 120 to 240 days. In the FY 2022/2023 fee review, USCIS estimates an annual average requirement of 245 positions in IPO. While the 200% price increase is significant, an improvement in processing times will be a welcome change for EB-5 investors.
The good news is investors who file now can still enter the queue for improved processing times without paying the additional fees. The 60-day public comment period starts following publication of the NPRM in the Federal Register. Fees will not change until the final rule goes into effect, after the public has had the opportunity to comment and USCIS finalizes the fee schedule in response to such comments.
File now to save $7,485 on I-526E! Contact our office to learn more.