Many clients planning U.S. EB-5 investment immigration often feel confused by various forms, priority date concepts and Combo Card functions under the new policy. Today, the Zhaolong Immigration U.S. team breaks down the complete EB-5 application process in this article — from Form I-526E to conditional green card and then Form I-829 for permanent green card. You will learn what to do and what benefits you can obtain at each step after reading it.

Before diving into the process, it is critical to cover the most important and time-sensitive background update for 2026.

**September 30 Deadline for Grandfathering Provision: A Historic Watershed for EB-5**
The 2022 EB-5 Reform and Integrity Act (RIA) introduced a key safeguard mechanism — the Grandfathering Provision. Simply put, it follows the principle of “old rules for old filings, new rules for new filings”: applications submitted within the protection window will continue to be adjudicated under the old rules in effect at filing, even if policies change later.

This protection window expires on September 30, 2026.

**What You Secure by Filing I-526E Before September 30**
✅ Your petition will remain under review without disruption even if the EB-5 Regional Center Program expires after September 30, 2027
✅ Lock in the current minimum investment of USD 800,000 for TEA-designated areas, insulated from future fee hikes
✅ Children’s ages can be frozen under the Child Status Protection Act to prevent aging-out
✅ USCIS cannot deny or suspend adjudication of your petition due to the expiration of the Act

**What Happens If You File After September 30**
❌ No grandfathering protection will apply
❌ Petitions may be indefinitely suspended if the Regional Center Program fails to be reauthorized by September 30, 2027
❌ Higher investment thresholds or loss of visa set-aside quota may apply

In short: The Regional Center Program is authorized until September 30, 2027, but grandfathering protection is only available until September 30, 2026. These two dates are distinct and must not be confused.

Between July 2021 and March 2022, the EB-5 program lapsed due to congressional failure to renew authorization. USCIS halted all regional center petitions, leaving numerous investors stuck in lengthy delays. The grandfathering provision was created to prevent a repeat of this scenario, and this policy safety net is about to close.

Less than two months remain until September 30 — the timeline is extremely tight.

**【Phase 1】Form I-526E Petition — Eligibility Review for Investment**
File the core Form I-526 Immigrant Petition by Regional Center Investor to formally initiate immigration adjudication.

⚠️ Prerequisite: The new policy adopts a “project review first, investor review later” framework. A regional center project must obtain pre-approval via Form I-956F before investors may submit I-526E. Selecting a project with an approved I-956F accelerates petition progress.

☑ Game-changing benefit for applicants physically present in the U.S.: Concurrent Filing + Combo Card
If you are maintaining lawful status in the U.S. (such as F-1 student visa, H-1B work visa, etc.), you may concurrently file Form I-485 Application to Register Permanent Residence or Adjust Status.

Alongside I-485 submission, you may apply for:
· Form I-765 Employment Authorization Document (EAD)
· Form I-131 Application for Travel Document (AP)

Once approved, these two documents are collectively known as the “Combo Card”, also referred to as a “mini green card” within the industry.

 Combo Card issued to Zhaolong Immigration’s previous EB-5 visa set-aside client

What can the Combo Card do?
· EAD — Allows full-time lawful employment in the U.S., free from employer restrictions and H-1B lottery requirements
· AP — Grants eligibility for free international travel to and from the U.S. (no travel permitted prior to AP approval)
· Core value of concurrent filing: You do not need to wait for I-526E approval to start adjustment of status. A Combo Card can be obtained in as little as several months upon filing.

☑ For applicants residing outside the U.S.
Overseas applicants are ineligible for concurrent filing. After I-526E approval, you will attend an immigrant visa interview at a U.S. consulate. Upon visa approval, you travel to the U.S. to receive your conditional green card.

【Phase 2】Conditional Green Card
Once I-526E is approved, processing proceeds under two scenarios:
✅ No Visa Priority Date Backlog
· Overseas applicants: Attend immigrant visa interview at the consulate; receive conditional green card after visa approval and U.S. entry
· U.S.-based applicants: If I-485 was previously filed, USCIS will directly adjudicate and issue the conditional green card

⏳ Visa Priority Date Backlog Applies
You must wait for your priority date to become current per the monthly Visa Bulletin released by the Department of State before proceeding with consular processing or domestic adjustment of status.

Good news: As of August 2026, the new EB-5 visa set-aside categories (rural projects, high-unemployment urban projects, infrastructure projects) remain officially current with no backlog. Eligible U.S.-based applicants can still seize the window for concurrent filing.

Important note: “No current backlog” does not mean abundant visa supply. A large volume of pending I-526E petitions awaits adjudication. Once these petitions are adjudicated in batches, hidden backlogs may rapidly turn into official priority date wait times. This opportunity window is narrowing.

💡 The conditional green card is valid for 2 years and does not confer permanent status; conditions must later be removed.

**【Phase 3】Form I-829 — Petition to Remove Conditions on Permanent Residence**
You may file Form I-829 to remove the green card conditions once you have held the conditional green card for 21 months.

☑ Required documentation:
· Evidence of job creation for the project — each investor must generate a minimum of 10 full-time U.S. jobs
· Proof of compliant investment — confirmation that the USD 800,000 investment has been deployed in the qualifying project and remains at risk within the required timeframe

☑ USCIS verifies whether the project meets compliance benchmarks
Upon I-829 approval, you obtain an unconditional permanent U.S. green card. The full EB-5 immigration journey is complete with no further risk of green card expiration or status loss.

**Full Process Overview at a Glance via Table**

**Closing Remarks**
The new EB-5 framework operates under the “project review first, investor review later” rule, and the Combo Card greatly improves convenience for applicants residing in the U.S. The entire process follows these three clear steps. The most urgent priority right now, however, is the upcoming September 30 expiration of the grandfathering provision.

Whether you aim to work in the U.S., pursue children’s overseas education, or settle long-term, understanding the full workflow and submitting your petition before the deadline helps you avoid hidden risks related to policy shifts, visa backlogs and project qualification.

Time is running short ahead of the September 30, 2026 grandfathering cutoff. Preparing source-of-funds documentation, selecting projects and coordinating with immigration counsel all take substantial lead time. Prospective applicants are advised to initiate an assessment promptly to lock in protection under the current rules.