EB-5 Filing Volume Trends
Data current as of · Source: USCIS Quarterly Statistics
Filing volume is one of the most reliable demand indicators for the EB-5 program. This page tracks the number of I-526/I-526E investor petitions and I-829 conditions removal petitions received by USCIS each fiscal year from FY2015 to the present. All figures are receipt counts sourced directly from USCIS published statistics. For processing outcomes, see approval rates and processing times.
Key Takeaways
- 1I-526/I-526E receipts peaked at 14,373 in FY2015, declined sharply through FY2022, and have rebounded strongly under the I-526E framework to 4,829 (FY2025 YTD).
- 2I-829 conditions removal filings reached an all time high of 5,095 in FY2019, reflecting the maturation of petitions filed during the 2014 to 2016 boom years.
- 3The program lapse from July 2021 to March 2022 produced the lowest filing year on record (FY2022: 654 I-526 plus 320 I-526E), creating a visible gap in the historical trend.
- 4Rural set aside filings now lead all categories at 57.6% of FY2025 YTD receipts, with 2,781 petitions filed through Q3.
Historical I-526/I-526E Filing Volume
Annual petition receipts from FY2015 to the present. Beginning in FY2022, the I-526E replaced the I-526 for regional center investors. Both forms are shown where applicable.
Source: USCIS Quarterly Statistics. FY2025 is year to date through Q3. See methodology for details.
I-829 Conditions Removal Trends
The I-829 petition is filed to remove conditions on permanent residence roughly two years after the investor receives conditional status. I-829 volume is a lagging indicator that reflects I-526 filing activity from two to four years earlier, adjusted for processing delays.
I-829 filings peaked in FY2019 at 5,095, corresponding to the wave of I-526 petitions filed during FY2015 to FY2016 when over 14,000 petitions per year were received. The dip in FY2020 and FY2021 reflects both the pandemic slowdown and the reduced I-526 filings from FY2018 onward. The rebound to 4,150 in FY2024 suggests that conditions removal filings from the 2018 to 2019 cohort are now flowing through.
The RIA Transition: From I-526 to I-526E
The EB-5 Regional Center program lapsed on June 30, 2021, when Congress failed to reauthorize it before expiration. For nearly nine months, USCIS could not accept new regional center petitions. The EB-5 Reform and Integrity Act (RIA), signed into law on March 15, 2022, reauthorized the program and introduced the I-526E petition form to replace the I-526 for regional center investors. The I-526 remains available only for direct (non regional center) investments, which represent a small fraction of overall volume.
The lapse had a profound impact on filing volume. FY2022 recorded just 654 I-526 and 320 I-526E petitions combined, the lowest total since the modern EB-5 program began. Most of the FY2022 I-526 filings were direct investment petitions submitted before the lapse took effect, while the first I-526E filings began arriving only in the final months of the fiscal year.
Recovery since the relaunch has been strong. I-526E receipts grew from 320 in FY2022 to 2,432 in FY2023 and 4,620 in FY2024. Through the first three quarters of FY2025, receipts reached 4,829, already exceeding the full year FY2024 total with one quarter remaining. This trajectory suggests that demand under the reformed framework is approaching pre-lapse levels, though still well below the FY2015 to FY2017 peak.
The transition also introduced the set aside visa categories: Rural, High Unemployment Area (HUA), and Infrastructure. These categories, with their own visa allocations, have reshaped the competitive landscape for EB-5 investors, as detailed in the section below.
Set Aside Category Filing Breakdown
I-526E receipts by Targeted Employment Area set aside category for FY2023 through FY2025 YTD. The set aside categories were introduced by the Reform and Integrity Act in March 2022.
FY2023 (2,432 total)
FY2024 (4,620 total)
FY2025 YTD (4,829 total)
Rural filings dominate the set aside landscape. Rural projects captured 57.6% of FY2025 YTD receipts. This reflects both the favorable visa allocation (20% of EB-5 visas reserved for rural) and the shorter processing times USCIS has delivered for rural petitions. Infrastructure filings remain at zero, as no projects have yet qualified under that category.
Source: USCIS I-526E receipt data by set aside category. FY2025 covers Q1 through Q3 only. Unreserved includes petitions with no set aside designation.
What Drives EB-5 Filing Volume
EB-5 filing volume is shaped by several intersecting factors. Understanding these drivers helps attorneys, regional centers, and investors anticipate future demand trends.
Minimum Investment Amount
The minimum investment amount has a direct, inverse relationship with filing volume. When the minimum was $500,000 for TEA projects (through November 2019), filings peaked at over 14,000 per year. The increase to $900,000 in November 2019 coincided with a sharp decline. Under the RIA, the minimum is $800,000 for set aside categories and $1,050,000 for unreserved, with automatic adjustments every five years tied to the Consumer Price Index.
Processing Time Improvements
USCIS processing times for I-526E petitions have improved significantly since FY2023. Faster adjudication makes the program more attractive to investors who might otherwise pursue alternative immigration pathways. The concurrent filing option, which allows eligible investors to file I-526E and I-485 simultaneously, further accelerates the timeline to work authorization and travel documents.
Visa Availability
Visa availability, tracked in the monthly visa bulletin, directly influences filing decisions. When priority dates are current (meaning no backlog), investors can file immediately and access concurrent filing benefits. Retrogression in the unreserved category, particularly for mainland China born applicants, has historically depressed filing volume from that population. The set aside categories introduced by the RIA created new pathways with separate visa allocations, partially alleviating backlog pressure.
Country Specific Economic Conditions
Economic and political conditions in source countries play a significant role. China has historically driven EB-5 demand, accounting for 52.9% of FY2024 filings. Capital controls, property market conditions, education access for children, and geopolitical uncertainty all influence the decision to invest. India (17.0% of FY2024 filings) has emerged as a growing source, driven by long backlogs in the employment-based EB-2 and EB-3 categories that make EB-5 a faster alternative. Vietnam, South Korea, and Taiwan each contribute smaller but consistent filing volumes.
The Grandfathering Deadline
The September 30, 2026 grandfathering deadline is expected to accelerate filings in FY2026. Investors who file a qualifying I-526E petition before this date preserve their rights under current law even if the regional center program lapses or is modified in the future. This deadline creates urgency similar to the filing surges observed before previous program expirations. We expect FY2026 filing volume to exceed FY2024 levels significantly.
How this data was calculated
All figures are receipt counts as published by USCIS in their quarterly and annual statistical releases. I-526 and I-526E counts are reported separately where USCIS distinguishes them. For FY2022, both forms are shown because the I-526E became available partway through the fiscal year. Set aside category breakdowns are sourced from the I-526/I-526E quarterly release. No adjustments, interpolations, or estimates have been applied to the underlying USCIS data. Percentages are calculated by EB5Status as receipts divided by total receipts for the period.
Related Resources
Last updated: . Data sourced from USCIS published statistics.
Disclaimer: EB5Status is an independent data publication. This page is for informational purposes only and does not constitute legal or investment advice. Consult a qualified immigration attorney before making any EB-5 investment decisions. See our full disclaimer.