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• Family loans without formal contracts or proof of repayment
• Large cash holdings that cannot be formally traced
• Missing tax declarations or inconsistent financial paperwork
These gaps may not immediately trigger problems at the I-526E stage, but during the I-829 review— where USCIS often revisits the entire record— they can resurface and cause delays or RFEs.
THE CRISIS AT THE I-829 STAGE: A WAVE OF RFE’ S IN VIETNAM In the past two years, a notable trend has emerged: a surge of RFEs issued to Vietnamese EB-5 investors at the I-829 phase. Many of these RFEs are unrelated to Source of Funds. Instead, they focus heavily on project-level deficiencies, including:
• Failure to create sufficient jobs
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• Material changes to the business plan
• Delays in project construction or operation
• Projects that remain unbuilt years after investors contributed capital
• Insufficient or delayed economic impact studies
For investors who have already completed their two-year conditional permanent residency period in the United States, receiving an RFE or NOID at this juncture is deeply unsettling. Their right to remain in the United States depends entirely on the outcome of the I-829 adjudication.
WHEN THE PROJECT FAILS, THE INVESTOR PAYS THE PRICE The EB-5 program is structured such that the investor bears immigration risk, even when
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construction, leaving investors in limbo. • A few projects have failed financially, raising concerns about capital return.
The harshest outcome is that investors may face the termination of their conditional green card, followed by potential removal proceedings.
THE HUMAN CONSEQUENCES BEHIND THE LEGAL PROCESS Beyond legal documents and financial structures, EB-5 decisions affect real families.
Many Vietnamese families move to the United States with the intention of establishing a long-term future. They sell homes, divest businesses, withdraw savings, and relocate entirely. After two years of living in the United States:
• Their children are adapted to American schools.
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WHAT INVESTORS ARE DOING NOW: SEEKING LEGAL AND STRATEGIC SOLUTIONS In the wake of the recent I-829 RFEs, many affected Vietnamese investors have sought professional advice. Their situations vary widely, which means the appropriate solutions differ from case to case.
Refiling Under a New EB-5 Application For some families, the most viable path is to: 1. Withdraw the problematic I-829 petition, 2. Initiate a completely new EB-5 application with a stronger, compliant project, and 3. File Adjustment of Status( AOS) from within the United States.
This route requires a new investment of capital and carries
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