Prospective EB-5 investors understand that their I-526E petition will be submitted to United States Citizenship and Immigration Services (USCIS). What many investors do not always realize, however, within USCIS is the IPO (Immigrant Investor Program Office) which takes the leading role when it comes to EB-5.
The IPO, a division of USCIS, plays a central role in administering the EB-5 program. The IPO was established in 2013 to bring consistency, transparency, and integrity to the EB-5 program, which had previously faced challenges related to uneven adjudications, processing delays, and concerns about fraud. By consolidating EB-5 operations under a single office, USCIS sought to develop specialized expertise among its staff, improve oversight of Regional Centers, and strengthen the agency’s ability to detect fraud and safeguard national security.
What Functions Does the IPO Have?
The functions of the IPO include adjudicating all EB-5-related petitions and applications, such as Forms I-526 (Immigrant Petition by Alien Investor), I-829 (Petition by Investor to Remove Conditions on Permanent Resident Status), and I-956 (Application for Regional Center Designation). In addition to adjudication, the IPO oversees Regional Centers, entities that pool investment capital for job-creating projects and ensure compliance with program regulations. It also conducts economic analyses to verify job creation claims and investment flows, develops EB-5 policy guidance, and to some extent engages with stakeholders in an effort to promote transparency and accountability within the program.
The Impact of the RIA on the IPO
The EB-5 Reform and Integrity Act of 2022 (RIA) brought significant changes to the program and, consequently, to the role of the IPO. Enacted on March 15, 2022, the RIA reauthorized the Regional Center Program through September 30, 2027, and introduced new integrity measures designed to protect investors and enhance government oversight. Under the RIA, the IPO gained expanded authority and responsibilities to implement these reforms. The law established rigorous reporting, auditing, and fund-tracking requirements for Regional Centers, mandating annual statements, third-party fund administration, and compliance certifications to prevent misuse of investor capital. The IPO now plays a key role in reviewing these new filings and ensuring that Regional Centers adhere to the heightened standards of transparency and accountability required by law.
Additionally, the RIA clarified the structure and transparency of the EB-5 process, granting USCIS greater discretion to terminate noncompliant Regional Centers and deny petitions connected to fraudulent or unethical activity. It also introduced new visa set-asides for investments in rural areas, high-unemployment areas, and infrastructure projects, requiring the IPO to develop adjudication processes tailored to these categories. The office has also been tasked with implementing the RIA’s integrity fee system, which funds enhanced oversight and enforcement activities.
The IPO continues to serve as the backbone of the EB-5 program, but its role has evolved significantly following the RIA. Once primarily focused on adjudication and policy development, the IPO now functions as a more robust regulatory and compliance body, ensuring that the EB-5 program operates with greater integrity, transparency, and accountability. These changes reflect USCIS’s ongoing commitment to protecting investors, fostering lawful economic growth, and maintaining public confidence in the EB-5 program.
