For EB-5 investors pursuing permanent residence through the Regional Center Program, September 30, 2026, is an important date. It is tied to the statutory grandfathering protection created by the EB-5 Reform and Integrity Act of 2022 (RIA).
This does not mean that the entire EB-5 Regional Center Program automatically disappears on September 30, 2026. The current authorization of the Regional Center Program extends through September 30, 2027. However, the significance of September 30, 2026, is that investors who meet the applicable requirements and file their I-526E petitions by that date can receive protection if the Regional Center Program later experiences a lapse or sunset.
What Does “Grandfathering” Mean?
In the EB-5 context, grandfathering generally refers to protecting qualifying investors who have already filed their EB-5 petitions from the consequences of a future lapse or termination of the Regional Center Program. Congress included this protection in the RIA so that investors who had already entered the program would not see their EB-5 cases jeopardized simply because Congress later failed to extend the program.
If the Regional Center Program were to lapse after an investor had made a qualifying filing within the statutory protection period, the investor’s pending EB-5 case would have statutory protection from being terminated solely because of that lapse. Congress sought to ensure that investors who had already committed to the program would not be left in limbo because of a future change in the program’s authorization.
What “Grandfathering” is NOT
Grandfathering should not be confused with a guarantee of a green card. Filing before the applicable deadline preserves the investor’s eligibility to have the petition adjudicated under the applicable rules, but it does not eliminate the substantive requirements of the EB-5 program or assure USCIS approval.
The investor must still satisfy all applicable EB-5 requirements, including meeting the source of funds requirements and making the required qualifying investment. Grandfathering also does not ensure the success or performance of the underlying project, the creation of the required jobs, or the ultimate outcome of the EB-5 petition. Simply selecting a project, signing the offering documents, or transferring funds is not sufficient.
The Deadline is Not a Reason to Skip Due Diligence
With September 30, 2026, approaching, there is understandably a sense of urgency for investors who are considering a Regional Center EB-5 investment. However, urgency does not have to come at the expense of due diligence and quality.
Waiting until the final days before the deadline can create unnecessary pressure. Investors need time to gather source of funds documentation, provide information for accompanying family members, review project and offering documents, complete the investment process, and prepare a thorough I-526E filing.
Just as importantly, the approaching deadline should not pressure investors into choosing a project before they have had time to understand it. EB-5 is an important decision, and investors should take the time to ask questions, review the details, and make sure they feel comfortable with their choice.
The goal is not simply to get something filed before September 30. The goal is to make a well-informed decision and submit a properly prepared EB-5 petition that satisfies the applicable requirements while there is still time to do so.
What Investors Should Do Now
With September 30 approaching, prospective investors should focus not simply on transferring an investment before the deadline, but on completing a properly documented and legally supportable filing in time.
For investors who are still evaluating their options, understanding the grandfathering rules, confirming eligibility, reviewing the project’s offering documents, documenting the lawful source and path of investment funds, and working with qualified EB-5 professionals can help investors make an informed decision while there is still time to do so.
An EB-5 investment is a significant financial and immigration decision, with implications that may extend well beyond September 30, 2026. For qualifying Regional Center investors, filing before the deadline may provide an important layer of protection against future changes to the program. As September 30 approaches, careful preparation and professional guidance can help investors navigate the remaining requirements and move forward with confidence.
For questions about the EB-5 program, please contact Jacqueline Treviño at jtrevino@psbplaw.com.