The EB-5 Immigrant Investor Program has undergone several changes in recent years, including the introduction of new forms and the phasing out of others. Although navigating these changes can add another layer of challenges for investors, many agree that the effort is worth the outcome of securing US Green Cards for themselves and their family members.
Form I-956K is one form that has been recently introduced to increase transparency and accountability across the program. Although EB-5 investors themselves do not file this form, it plays an important role in an investor’s overall compliance with EB-5 regulations. Here’s a comprehensive guide to Form I-956K and what you need to know.
What Is Form I-956K?
Form I-956K,Registration for Direct and Third-Party Promoters, is a disclosure form required by USCIS for persons or companies involved with a regional center, a new commercial enterprise (NCE), or a job-creating entity (JCE) under the EB-5 program. Not to be confused with Form I-956F, which is for approving regional center projects and verifying their compliance with USCIS requirements, Form I-956K is specifically designed to regulate and monitor direct and third-party promoters, including migration agents, finders, brokers, and other intermediaries who market or facilitate EB-5 investments.
Importantly, EB-5 investors do not complete or submit Form I-956K as part of their own petition. Individual EB-5 investors file this form if—and only if—they are not yet US persons for tax purposes or if they are US persons and have the appropriate license to act in a promotional or intermediary capacity, such as introducing other investors to an EB-5 project for compensation.
The form was introduced under the EB-5 Reform and Integrity Act of 2022 to ensure transparency around the promoters of individual EB-5 projects and how they are being compensated. Form I-956K requires promoters to disclose their identity, background, and any written agreements or compensation arrangements they have with EB-5 projects. This allows USCIS to assess their credibility, identify potential conflicts of interest, and protect investors while preserving the integrity of the EB-5 program. Once USCIS acknowledges that it has received Form I-956K (by sending Form I-797, the receipt notice), the promoter or intermediary is registered to promote (that is, to market or facilitate) EB-5 investments.
What Are the Form Requirements?
To complete Form I-956K, the person or firm promoting an EB-5 project must provide personal and professional background information, including:
- Full legal name, date of birth, and address.
- Employment history, particularly any roles related to the EB-5 project.
- Disclosures of past criminal convictions or civil actions, if applicable.
This form has a filing fee of $0.
In addition, Form I-956K requires disclosure of written agreements between the promoter and the regional center, NCE, JCE, or other affiliated entities as well as detailed information about compensation structures such as fees, commissions, and referral payments.
Certain cases may require supporting documentation such as court records or affidavits. Each individual acting as a direct or third-party promoter must file their own Form I-956K.This requirement does not apply to EB-5 investors themselves unless they are also acting in a promotional capacity.
When Should a Promoter File Form I-956K?
Form I-956K must be submitted by the promoter or intermediary before they engage in EB-5 marketing or solicit investors. Ideally, registration should occur as soon as an intermediary (such as a promoter) enters into an agreement with an EB-5 entity.
USCIS expects promoters to be properly registered prior to interacting with investors. Failure to do so may raise compliance concerns and can affect downstream adjudications, including investor petitions.
Disclosing on Your Form I-526E as an EB-5 Investor
This is a critical point for EB-5 investors. Although investors do not file Form I-956K themselves, they are still affected by whether it was properly filed by any intermediary involved in their investment. If an intermediary, agent, or other third-party promoter was involved in facilitating your EB-5 investment, you must properly disclose that relationship. USCIS expects that any intermediary connected to an investment has a corresponding, properly filed Form I-956K on record.
The existence of the intermediary and their role in the transaction should also be accurately reflected in the investor’s Form I-526E. If USCIS later determines that an intermediary was involved but was not registered on Form I-956K or was not disclosed in connection with the investor’s petition, this absence may be treated as a material omission. Such an omission can result in a request for evidence (RFE) or the denial of the I-526E petition.
In short, undisclosed intermediaries pose a real risk to EB-5 petition approval under the current integrity and transparency framework.
What to Expect After Form I-956K Is Filed
Once the promoter submits Form I-956K, USCIS reviews the disclosed information and may conduct background checks on the registrant. If any issues arise—such as an undisclosed disciplinary history, inconsistent information, or missing agreements—USCIS may request additional documentation or clarification.
USCIS may also cross-reference Form I-956K filings with regional center applications, project filings, and investor I-526E petitions to confirm consistency and compliance. Incomplete or inaccurate disclosures can result in RFEs, denials, or enforcement actions.
How LCR Capital Partners Can Help Investors
LCR Capital Partners is your trusted investment partner for navigating every step of the EB-5 process. Although EB-5 investors do not personally file Form I-956K, our team helps ensure that all required promoter and intermediary filings connected to your investment are properly handled and aligned with your petition. By partnering with LCR, you can rest assured that all necessary forms are filed and that you are always in full compliance with USCIS regulations.
Our legal and immigration experts can simplify the EB-5 process, allowing investors to focus on the opportunities that the program offers while we handle the complexities of immigration law.
