A quarterly overview of EB-5 filing volumes, adjudication rates, visa issuances, and pending backlogs. All figures from official USCIS and Department of State publications.
Petitions Filed (YTD)
5,079
I-526E: 4,826 | I-526: 253
FY2025 Q1 to Q3
I-526E Approval Rate
94%
1,047 approved of 1,113 completed
Q3 FY2025
Processing Time Range
11 to 52 mo
Rural 11 to 17 months | HUA 24 to 36 months | Unreserved 36 to 52 months
USCIS posted
Visa Issuances
9,534
EB-5 immigrant visas issued at consulates
FY2025 through Aug
Pending Backlog
10,787
I-526E: 8,965 | I-526 legacy: 1,822
End Q3 FY2025
The EB-5 program is entering its most consequential phase since the 2022 Reform and Integrity Act. Through the first three quarters of FY2025, USCIS received 5,079 new investor petitions, with I-526E filings (4,826) vastly outpacing legacy I-526 (253), confirming the program's full transition to the post-reform framework.
Adjudication velocity is accelerating. The I-526E approval rate hit 94% in Q3 FY2025, with USCIS completing 1,113 I-526E cases in a single quarter, more than the prior two quarters combined. Meanwhile, the legacy I-526 backlog continues its managed decline, dropping from over 9,000 cases at the start of FY2024 to 1,822 by Q3 FY2025.
The combined pending backlog stands at 10,787 petitions. The I-526E queue (8,965) is growing as new filings outpace adjudications, while the I-526 queue (1,822) is on a clear path to resolution. This two-speed dynamic, a shrinking legacy backlog alongside a growing new one, is the defining feature of the current program.
On the visa issuance side, U.S. embassies and consulates issued 9,534 EB-5 immigrant visas through the first eleven months of FY2025. The early months saw heavy Chinese issuances (940 in October alone), but South Korea has emerged as the top issuance country since April 2025 as China-born applicants face final action date backlogs.
Processing times vary significantly by reserve category. Rural-designated projects enjoy priority processing at 11 to 17 months, while high unemployment area petitions take 24 to 36 months. Unreserved I-526E petitions, the bulk of the queue, range from 36 to 52 months.
The critical date on every investor's calendar: September 30, 2026, the grandfathering deadline after which the EB-5 Reform and Integrity Act's investor-protection provisions may no longer shield pre-existing investments.
| Fiscal Year | Receipts | Approvals | Pending | Approval Rate |
|---|---|---|---|---|
| FY2025 (Q1 to Q3) | 5,079 | 2,881 | 10,787 | 94% |
| FY2024 | 6,424 | 1,834 | 9,312 | 91% |
| FY2023 | 4,213 | 563 | 6,722 | 85% |
| FY2022 | 3,108 | 312 | 5,072 | 82% |
Combined I-526 + I-526E figures. FY2025 data through Q3 only. Approval rate calculated from completed cases per period.
The quarterly I-526E approval rate hit 94% in Q3 FY2025, the highest rate recorded since the Reform and Integrity Act took effect in March 2022. This confirms that USCIS has fully adapted to the new petition framework and that well prepared filings are succeeding at historically elevated rates. The Q3 completion volume of 1,113 cases also represents the highest single quarter output under the reformed program.
USCIS received 5,079 petitions through Q3 FY2025, placing the program on track to surpass FY2024's full year total of 6,424. The I-526E form accounts for 95% of new filings (4,826 of 5,079), while legacy I-526 filings (253) are tapering as expected. The grandfathering deadline of September 30, 2026 is the primary catalyst driving accelerated filing behavior.
At 11 to 17 months, rural designated I-526E petitions are processed approximately 3x faster than unreserved petitions (36 to 52 months). High unemployment area petitions fall in between at 24 to 36 months. This processing speed advantage is the primary driver of rural category demand and a significant factor in project selection decisions by immigration attorneys and their clients.
The pre-reform I-526 queue has declined to 1,822 pending cases as of Q3 FY2025, down from over 9,000 at the start of FY2024. At the current adjudication pace, this backlog will be substantially resolved by FY2026, freeing USCIS resources for the growing I-526E queue. The managed drawdown of the legacy caseload is a prerequisite for meaningful I-526E processing time improvement.
South Korea has overtaken China as the leading EB-5 visa issuance country since April 2025. While China dominated early FY2025 issuances (940 visas in October 2024 alone), mainland China born investors now face final action date retrogression in the unreserved category. This geographic rebalancing reflects both the evolving demand pattern and the structural impact of per country visa limits on the EB-5 pipeline.
Findings derived from official USCIS publications and Department of State data. Approval rates are calculated by EB5Status from completed case counts. See our methodology page for calculation details.
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EB5Status. (2026). EB-5 Program Statistics: FY2025 Approval Rates & Trends. Retrieved April 30, 2026, from https://www.eb5status.com/statistics
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Source: EB5Status, “EB-5 Program Statistics FY2022 to FY2025,” https://www.eb5status.com/statistics (quarterly USCIS data; updated Q3 FY2025). Trust tier: Official (Blue). Methodology: https://www.eb5status.com/methodology
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How this data was calculated
Statistics on this page are sourced from USCIS quarterly publications and the U.S. Department of State monthly visa issuance reports. Approval rates are calculated by EB5Status from completed case counts using disclosed methodology.
Approval rates and pending backlog tell you what is happening at the program level. Whether those numbers help or hurt your case depends on category, country, and filing posture. A verified EB 5 attorney can read your priority date in context.
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