EB-5 Integrity Fund: Collections, Compliance, and Transparency
Data current as of · Source: USCIS Quarterly Statistics
The EB-5 Integrity Fund was established by Section 104 of the EB-5 Reform and Integrity Act of 2022. Every EB-5 investor pays a $1,000 fee (Regional Center) or $500 fee (direct investment) into the fund, which finances USCIS compliance and oversight activities. Based on petition filing volumes, the fund has collected an estimated $17.2 million since its inception. This page tracks collections, known compliance actions, and identifies what data remains unavailable to the public.
Key Takeaways
- 1Estimated total collections since inception: $17.2 million, derived from petition filing volumes and applicable fee amounts.
- 2Fee structure: $1,000 per Regional Center petition, $500 per direct investment petition, paid at the time of I-526E filing.
- 3Purpose: finances USCIS compliance and oversight activities including audits, site visits, background investigations, and securities compliance verification.
- 4Limited public transparency: USCIS has not disclosed spending breakdowns, fund balances, or detailed audit results.
- 5FOIA requests planned: EB5Status intends to submit targeted FOIA requests to obtain more granular Integrity Fund data.
Total Est. Collections
$17.2 million
Since inception (2022)
Known Compliance Actions
3
Public record
Fee per RC Petition
$1,000
Regional Center
Fee per Direct Petition
$500
Direct investment
Estimated Collections by Fiscal Year
| Fiscal Year | Petitions Filed | Est. Collection | Notes |
|---|---|---|---|
| FY2025 (Q1 to Q3) | 5,079 | $5.1 million | Based on 5,079 petitions filed through Q3 FY2025, approximately 95% Regional Center ($1,000 each), 5% direct ($500 each). Estimated: ~$4,835,000 RC + ~$127,000 direct. |
| FY2024 | 6,424 | $6.1 million | Based on 6,424 petitions filed in FY2024. Regional Center/direct split estimated at 95%/5%. |
| FY2023 | 4,213 | $4.0 million | Based on 4,213 petitions filed in FY2023. First full year of Integrity Fund collections. Lower volume reflects RIA transition ramp-up. |
| FY2022 (partial) | 3,108 | $2.0 million | Partial year: RIA took effect March 15, 2022. Integrity Fund fees only applied to post-RIA filings (approximately May 2022 onward). Estimated 2,000 eligible petitions. |
| Total | 18,824 | $17.2 million | All estimates combined |
Source: USCIS Quarterly Statistics. Collections estimated by EB5Status using petition filing volume multiplied by the applicable fee. Approximately 95% of filings are Regional Center ($1,000 each), 5% are direct ($500 each). See methodology for full calculation details.
Known Compliance Actions
USCIS Terminates Regional Center Designations for Non-Compliance
USCIS issued termination notices to multiple Regional Centers that failed to comply with re-designation requirements under the RIA. Terminated centers were unable to accept new investors or sponsor new I-526E petitions.
Source: Federal Register
USCIS Issues Compliance Advisory on Fund Administration
USCIS published guidance reminding Regional Centers of their obligations under the Integrity Fund provisions, including proper escrow arrangements, investor fund segregation, and third-party fund administration requirements established by the RIA.
Source: USCIS Stakeholder Engagement
USCIS Initiates First Round of RIA Compliance Audits
USCIS began conducting compliance audits of Regional Centers under the authority granted by the RIA Integrity Fund provisions. The audits examined fund management practices, job creation documentation, and securities compliance.
Source: USCIS EB-5 Program Page
What Is NOT Publicly Available
Despite the Integrity Fund collecting an estimated $17.2 million since inception, significant transparency gaps remain. The following data points are not published by USCIS and are not available through standard public channels:
- Detailed fund spending breakdown by category
- Individual Regional Center audit results
- Specific investigation details or targets
- Fund balance or financial reserves
- Staff allocation and headcount funded by the Integrity Fund
- Enforcement action pipeline or planned actions
- Cost per compliance action or audit
These gaps represent a meaningful limitation on investor visibility into how their fees are being used. EB5Status tracks these transparency gaps and advocates for greater disclosure through FOIA requests and public commentary.
FOIA Request Status
EB5Status has identified the Integrity Fund as a priority target for Freedom of Information Act requests. Planned FOIA requests will seek detailed spending breakdowns, audit results, and fund balance information. These requests are in the planning phase and will be submitted in upcoming quarters.
For the full list of EB5Status FOIA requests and their current status, visit the FOIA Datasets page.
Analysis
Are integrity fund collections keeping pace with oversight needs?
With an estimated $17.2 million collected since inception, the fund has generated substantial revenue. However, without a public accounting of how these funds are deployed, it is impossible to assess whether collections are adequate for the scale of oversight required. The EB-5 program now has over 600 designated Regional Centers, each requiring periodic compliance audits, and petition filing volumes continue to accelerate. Whether the current fee structure generates sufficient revenue to fund meaningful oversight of all active Regional Centers remains an open question.
How does the fund's scope compare to pre-RIA compliance mechanisms?
Before the Reform and Integrity Act, USCIS compliance oversight was funded through general operating budgets with no dedicated revenue stream. The Integrity Fund represents a structural improvement: a dedicated, investor-funded mechanism specifically for oversight. However, the lack of transparency about actual spending means the public cannot verify whether this dedicated funding has translated into meaningfully enhanced compliance activity compared to the pre-RIA baseline.
What transparency improvements would benefit investors?
Investors who pay into the Integrity Fund have a legitimate interest in understanding how their fees are used. Meaningful transparency improvements would include: an annual public report on fund collections and expenditures, aggregate audit statistics (number conducted, pass/fail rates), and disclosure of enforcement action categories. These disclosures would not compromise individual investigations but would allow stakeholders to evaluate the program's effectiveness and provide accountability for the use of investor fees.
Statutory Framework
Authority: EB-5 Reform and Integrity Act of 2022, Section 104 (Pub. L. 117-103, Division BB)
Purpose: Finance compliance and oversight activities related to the EB-5 Regional Center program
Fee structure: $1,000 per Regional Center petition, $500 per direct investment petition. Fees are non-refundable and collected at the time of I-526E filing.
Authorized uses of the fund:
- Compliance and oversight of Regional Centers
- Background investigations and site visits
- Audits of Regional Center fund administration
- Securities compliance verification
- Investigation of suspected fraud or material misrepresentation
- Training of USCIS adjudication officers on EB-5 compliance
Frequently Asked Questions
How this data was calculated
Collection estimates are calculated by multiplying the number of I-526E petitions filed in each fiscal year by the applicable Integrity Fund fee. Approximately 95% of filings are Regional Center petitions ($1,000 fee), with the remaining 5% being direct investment petitions ($500 fee). USCIS does not publish official Integrity Fund collection totals, so these figures carry a Gray (Derived) trust tier. Compliance actions are sourced from publicly available Federal Register notices and USCIS stakeholder communications (Blue/Official tier). Editorial analysis sections carry an Orange (Editorial) trust tier.