USCIS Form I-956F: Definition, Requirements, and Application

Form I-956F is known as “Application for Approval of an Investment in a Commercial Enterprise”. Form I-956F is the document submitted to the U.S. Citizenship and Immigration Services (USCIS) by designated Regional Centers. Form I-956F is used by Regional Centers to obtain approval for new commercial enterprises (NCEs) under the EB-5 Visa Program. EB5 Regional Centers are economic entities that pool funds from immigrant investors for distribution to commercial enterprises. Regional Centers have to submit the I956F form before an EB5 investor files their petition. Each for-profit new commercial enterprise (NCE) for approval requires a separate I956F form submission.

Form I 956F was released in compliance with the 2022 Reform and Integrity Act (RIA) and aids in promoting transparency for all persons and entities involved in the EB 5 Visa Program. Form I 956F requires detailed information about the NCE, job-creating entities (JCEs), and authorized individuals associated with the Regional Center. The I-956F application must be submitted with offering documents, documentation on policies for securities issuance, a business plan, and economic analysis related to the EB-5 Project. 

What is USCIS Form I-956F?

Form I-956F is also known as “Application for Approval of an Investment in a Commercial Enterprise”. Form I-56F is a document issued and submitted to the U.S. Citizenship and Immigration Services (USCIS) by EB-5 Regional Centers. Form I-956F is accomplished by designated EB-5 Regional Centers and must be filed before an immigrant investor submits their EB5 Visa petitions. 

What is an EB-5 Regional Center?

An EB5 Regional Center is an entity approved by the U.S. Citizenship and Immigration Services (USCIS) for economic growth under the EB 5 Visa Program. Regional Centers pool funds from immigrant investors who are investing capital in a new commercial enterprise (NCE) to qualify for Permanent Residency in the USA. Most EB 5 investors prefer investing in an EB-5 Regional Center due to the consideration of indirect and induced jobs together with direct jobs for fulfilling the minimum employment creation requirements of the EB5 Visa. 

How Does USCIS Form I-956F Work?

Form I956F is required for requesting approval for a new commercial enterprise (NCE) investment offering of an approved Regional Center. Form I956F must be submitted by the Regional Center for each NCE project to be approved. A new commercial enterprise is a business entity that is funded by EB-5 Visa investors for the purposes of generating profits and jobs for US workers. 

USCIS Form I956F consists of 13 parts.

Part 1: Application Type

Part 1 of USCIS Form I 956F asks whether the EB 5 project approval is sought for an initial application or as an amendment to a previously approved Form I 956F. Amendments of a previously approved I-956F require the receipt notice of the initial I956F form and NCE Identification Number (NCEID). EB-5 projects that have obtained exemplar approval before March 15, 2022 need to indicate the receipt number and date of approval of the project’s Form I-924 (Application for Regional Center Designation Under the Immigrant Investor Program).

Part 2: Information About the Regional Center

Information needed under this section includes the Regional Center’s legal name, identification number, mailing address, and physical address if applicable. 

Part 3: Information About the New Commercial Enterprise (NCE)

The NCE’s legal name, organizational structure, date of establishment, mailing address, contact information, and census tract(s) where the NCE is principally doing business must be filled out. The specification must be made if the NCE is a troubled business. A troubled business is qualified as an EB5 Project if it has been operational for at least 2 years and has suffered a net loss during the 12 or 24 months before the foreign investor files their EB 5 petition. The net loss must be at least 20% of the troubled business’s net worth before the loss. 

Part 4: Information About the Job Creating Entity(ies) (JCE)

Information about each Job Creating Entity (JCE) is needed if the NCE is a vehicle for investment into the associated Regional Center JCEs. The legal name of the JCE, organizational structure, date of establishment, federal employer identification number, contact information, and mailing address must be given. 

Part 5: Information About the Project

The type of investment, total estimated cost, number of expected EB 5 investors, nature of the activity, primary industries, and estimated jobs to be created must be detailed in the I 956F form for the NCE. 

Part 6: Investment and Offering Documents

Documents include evidence submitted to the Securities and Exchange Commission (SEC) or with the applicable State securities regulator. Confirmation of disclosure of investment risks, presence of any conflicts of interest, pending material litigation or bankruptcy, and payment of fees or compensations to investors, agents, or broker-dealers must be stated. 

Part 7: Policies and Procedures to Monitor the Issuance of Securities

The Regional Center and any issuer of securities must submit documentation of the policies and procedures for compliance with U.S. securities law. 

Part 8: Required Certifications

This section is filled out by a qualified certifier for the EB 5 Regional Center and any issuer of securities that will be offered to immigrant investors. A qualified certifier is a person with knowledge of the entity’s policies and procedures related to compliance with the requirements under the Immigration and Nationality Act (INA) section 203(b)(5). The qualified certifier must hold a position of substantive authority for the management or operations of the Regional Center or issuer of securities, such as a principal executive officer or principal financial officer.

Part 9: Information About All Persons Involved with the NCE and Affiliated JCE
Any person with direct or indirect authority to decide on the pooling, securitization, investment, release, acceptance, or control or use of any EB-5 capital from immigrant investors is considered to be involved with an NCE or an affiliated JCE. Persons of substantive authority are principals, representatives, owners, administrators, officers, board members, managers, executives, general partners, fiduciaries, or agents. 

Part 10: Fund Administration

The bank account details of the NCE must be given if there is a separate account for the deposit and maintenance of the capital investment of immigrant investors. NCEs or JCEs with fund administrators must indicate if the administrator is an attorney, broker-dealer, certified public accountant, or a registered investment adviser along with their relevant details.  

Part 11: Statement, Contact Information, Declaration, and Signature of the Authorized Individual

This section requires details of the authorized person filling out the USCIS I 956F form. The authorized individual has to read through the declaration included in Form I-956F and affix their signature. 

Part 12: Interpreter’s Contact Information, Certification, and Signature

This section needs to be completed if an interpreter was engaged to read the instructions and questions in USCIS Form I956F in the language in which the authorized individual is fluent. The interpreter must certify their fluency in English and affix their signature.

Part 13: Contact Information, Declaration, and Signature of the Person Preparing this Application, if Other Than the Authorized Individual

A preparer of Form I 956F other than the authorized individual must fill out this section. Information needed includes the preparer’s name, mailing address, contact information, statement, certification, and signature.

How Does Form I-956F Affect the EB5 Visa Process? 

USCIS Form I-956F must be submitted by Regional Centers before the associated EB5 immigrant investors file their Form I-526E. Form I-526E is also known as “Immigrant Petition by Regional Center Investor”. Form I-526E is the petition used to initiate the EB5 Permanent Residency application for regional center investors. There is no requirement for Form I956F approval for I-526E filings. 

What are the Benefits of Form I-956F?

The issuance of USCIS Form I956F was made in compliance with the 2022 EB-5 Reform and Integrity Act (RIA) which also reauthorized the Regional Center Program until September 2027. The RIA aims to increase transparency for all persons and entities involved in the EB5 Immigrant Visa Program. Form I 956F serves the RIA’s purpose through the inclusion of information from all persons involved with the Regional Center Program as well as material risks and potential for bankruptcy of the EB-5 Project. Policies and procedures related to the issuance of securities and copies of offering documents are also required to be submitted with the USCIS I-956F form. 

How Does Form I-956F Look Like?

USCIS Form I-956F consists of 17 pages with 13 parts. The full version of the I 956F form is downloadable from the USCIS website. 

How Much Does Form I-956F Cost?

The cost of filing Form I-956F is $17,795. The I956F form filing fee is paid through money order, personal check, cashier’s check, or credit card. USCIS rejects Form I-956F submissions if the incorrect fee was paid or if the payment was more than was required. 

Who is Eligible for Filing USCIS Form I-956F?

Regional Centers that have been designated by USCIS to operate under the EB-5 Program are eligible to file Form I 956F. An EB5 Regional Center must file the I956F form for every NCE project to be approved. A different USCIS form is required for Regional Center Designation under the RIA. Form I-956 is filed by economic entities seeking USCIS approval under the EB-5 Regional Center Program. Form I-956 is also known as “Application for Regional Center Designation”.

What are the Documents Required for Filing USCIS Form I-956F?

Regional Centers seeking approval for an NCE Project or filing an amendment to a previously approved project must present the following documents with their I-956F form.

• Comprehensive business plan for the NCE Project.
• Credible economic analysis detailing the estimated number of jobs to be created by the EB5 NCE based on economically and statistically valid methodologies. 
• All documents filed with the Securities and Exchange Commission (SEC) or with the securities regulator of any State.
• Investment and offering documents.
  • Subscription, investment, partnership, and operating agreements.
  • Private placement memoranda (PPM), description of the business plan, and marketing materials.
  • Term sheets, biographies of management, officers, directors, and persons with similar responsibilities.
• Description of the policies and procedures that cause the regional center and any issuer of securities connected with the EB5 investment to comply with the U.S. securities laws and State securities laws. 
• Evidence of the identifying form of the EB 5 capital investment from the NCE into the JCE such as equity stake, loan, or other financial arrangements.
• Description and documentation of the business structure of the NCE such as certificates of formation, partnership agreements, or other governing documents.
• Evidence of the NCE project’s ability to generate employment in the high-unemployment region if the NCE is located in this Targeted Employment Area (TEA) classification. 

Where to File Form I-956F?

Form I-956F is filed with USCIS by mail using the information below. 

U.S. Postal Service (USPS)

USCIS

Attn: I-956F

P.O. Box 660168

Dallas, TX 75266-0168

FedEx, UPS, and DHL deliveries

USCIS

Attn: I-956F (Box 660168)

2501 S. State Highway 12, 1 Business Suite 400

Lewisville, TX 75067-8003

What are the Differences Between Form I-956F and Form I-924?

Form I-956F and Form I-924 are USCIS forms specific to EB 5 Regional Centers. The I-924 form was used pre-RIA for Regional Center Designation under the EB-5 Immigrant Investor Program. USCIS stated that the I956F form was similar to the exemplar submission on the I-924 form but that I-956F is required to be filed for every NCE project under the Regional Center. Form I-956F requires more information about the NCE, JCE, and all persons involved with the Regional Center. Offering documents and documentation on policies for securities issuance must also be included in the I-956F submission.

FAQs about Form I-956F