美國公民及移民服務局 (USCIS) 2026 財政年度第一季報告

USCIS FY2026 Q1 REPORT

Earlier this month, USCIS published its FY2026 Q1 report, showing performance data

on all application and petition form types submitted to USCIS for adjudication during October 1, 2025 to December 31, 2025.

本月初，USCIS 發布了 2026 財年第一季報告，展示了2025 年 10 月 1 日至 2025 年 12 月 31 日期間提​​交給 USCIS 進行裁決的所有申請和請願表格類型的績效數據。

Analysis & Key Takeaways分析與重點總結

The FY2026 Q1 USCIS data reveals several notable changes in EB-5 adjudication trends compared with FY2025. While investor demand for the EB-5 Regional Center Program remains strong, adjudication outcomes for post-RIA I-526E petitions have become more challenging. At the same time, USCIS continues to reduce its legacy (pre-RIA) inventory, while I-829 petitions remain the strongest-performing category.

Key findings include: 美國移民局 (USCIS) 2026 財年第一季數據顯示，與 2025 財年相比，EB-5 移民申請的審批趨勢出現了一些顯著變化。儘管投資者對 EB-5 區域中心計畫的需求依然強勁，但 RIA 實施後的 I-526E 申請的批准難度有所增加。同時，USCIS 繼續減少其遺留的（RIA 實施前的）申請積壓，而 I-829 申請仍然是表現最強勁的類別。主要發現包括：

• Strong demand for post-RIA I-526E petitions. USCIS received 1,667 I-526E petitions during FY2026 Q1, representing a 22.7% increase over FY2025 Q1 and a 13% increase over FY2025 Q4, demonstrating continued investor confidence in the EB-5 Regional Center Program.
• More challenging adjudications. Compared with FY2025 Q4, I-526E approvals declined sharply while denials more than doubled, resulting in a significant reduction in the overall approval rate.
• Growing pending inventory. The number of pending I-526E petitions increased to 9,734, the highest level reported to date, indicating that new filings continue to outpace adjudications.
• Continued reduction of legacy petitions. The pending inventory of pre-RIA I-526 petitions declined by 59.9% compared with FY2025 Q1. However, the remaining cases are taking longer to adjudicate, and approval rates have declined by 33.8 percentage points.
• Strong I-829 performance. I-829 petitions continue to demonstrate stable adjudication trends, with approval rates consistently exceeding 93%, processing times reduced by 53.6%, and a steadily declining pending inventory.

• 對 RIA 實施後的 I-526E 申請的需求強勁。 USCIS 在 2026 財年第一季度收到了 1,667 份 I-526E 申請，比 2025 財年第一季度增長了 22.7%，比 2025 財年第四季度增長了 13%，這表明投資者對 EB-5 區域中心項目持續充滿信心。

• 審核難度增加。與2025財年第四季相比，I-526E申請的批准數量大幅下降，而拒簽數量則增加了一倍多，導致整體批准率顯著降低。

• 待處理申請數量持續增加。 I-526E申請的待處理數量增加至9,734份，創歷史新高，顯示新提交的申請數量持續超過核准數量。

• 遺留申請數量持續減少。與2025財年第一季相比，RIA生效前的I-526申請待處理數量下降了59.9%。然而，剩餘案件的審批時間延長，核准率下降了33.8個百分點。

• I-829申請表現強勁。 I-829申請的核准趨勢持續穩定，核准率持續超過93%，處理時間縮短了53.6%，待處理申請數量穩定下降。

1. Post-RIA I-526E Petitions – Filing Demand Remains Strong

Demand for post-RIA I-526E petitions continued to grow in FY2026 Q1. USCIS received 1,667 petitions, representing a 13% increase over FY2025 Q4 (1,478 petitions) and a 22.7% increase compared with FY2025 Q1. This steady growth demonstrates continued investor confidence in the EB-5 Regional Center Program despite evolving adjudication trends.

 1. RIA 後 I-526E 申請－申請需求依然強勁

2026 財年第一季度，RIA 後 I-526E 申請的需求持續成長。美國移民局 (USCIS) 共收到 1,667 份申請，較 2025 財年第四季（1,478 份）增加 13%，較 2025 財年第一季成長 22.7%。這一穩步增長表明，儘管審批趨勢有所變化，但投資者對 EB-5 區域中心計劃的信心仍然強勁。

Adjudication Activity裁決活動

Compared with FY2025 Q4: 與 2025 財年第四季相比：

• Approvals declined by 43.4%, from 1,349 to 764 petitions.
• Denials increased by 117.3%, from 81 to 176 petitions.
• Total completed cases declined by 34.3%, from 1,430 to 940 petitions.

• 核准數量下降 43.4%，從 1349 份申請降至 764 份。

   • 拒絕數量上升 117.3%，從 81 份申請增加到 176 份。

   • 已結案件總數下降 34.3%，從 1430 份申請降至 940 份。

Approval Rate批准率

The most significant change in FY2026 Q1 is the decline in the I-526E approval rate.

2026財年第一季最顯著的變化是I-526E表格核准率的下降。

• FY2025 Q4: 94.34% 2025財年第四季：94.34%
• FY2026 Q1: 81.28% 2026財年第一季：81.28%

This represents a decline of more than 13 percentage points.這相當於下降了超過13百分點。

Although USCIS has not provided an explanation for this change, several factors may have contributed, including more rigorous adjudications, increased Requests for Evidence (RFEs), greater scrutiny of project documentation, or the adjudication of more complex petitions. Additional quarterly data will help determine whether this represents a temporary fluctuation or the beginning of a longer-term trend.儘管美國公民及移民服務局（USCIS）尚未對此變化做出解釋，但可能存在多種因素，包括更嚴格的審查、補充材料請求（RFE）的增加、對項目文件的更嚴格審查，以及更複雜的申請案件的審理。後續季度數據將有助於確定這究竟是暫時的波動，還是長期趨勢的開始。

Pending Inventory待處理申請

The pending inventory increased by 40.6% compared with FY2025 Q1, rising from 6,922 to 9,734 petitions. This continued increase suggests that USCIS is receiving new I-526E petitions at a faster pace than it is completing adjudications, resulting in an expanding backlog. 與2025財年第一季相比，待處理申請數量增加了40.6%，從6,922份增加至9,734份。這一持續增長表明，美國公民及移民服務局（USCIS）收到新的I-526E申請的速度超過了其完成審批的速度，導致積壓案件不斷增加。

Processing Times處理時間

Average processing time improved by 30% compared with FY2025 Q1, decreasing from 12.0 months to 8.4 months. However, processing time increased by 29.2% compared with FY2025 Q4, rising from 6.5 months to 8.4 months. This may indicate that adjudication efficiency has begun to slow as the pending inventory continues to grow. 與 2025 財年第一季相比，平均處理時間縮短了 30%，從 12.0 個月降至 8.4 個月。然而，與 2025 財年第四季相比，處理時間增加了 29.2%，從 6.5 個月增加到 8.4 個月。這可能表明，隨著待處理案件數量的持續增長，裁決效率已開始放緩。

2. Post-RIA I-526 (Direct) Petitions – Low Filing Volume Limits Trend Analysis

2. RIA 後 I-526（直接）申請－低申請量限制趨勢分析

Direct EB-5 petitions continue to account for only a small share of overall EB-5 filings.

直接 EB-5 申請在 EB-5 申請總量中所佔比例仍然很小。

Because USCIS completed only 10 direct I-526 petitions during FY2026 Q1, the reported 50% approval rate should be interpreted cautiously, as the sample size is too small to establish a meaningful trend. 由於美國移民局 (USCIS) 在 2026 財年第一季僅完成了 10 份直接 I-526 申請，因此報告的 50% 批准率應謹慎解讀，因為樣本量太小，不足以得出有意義的趨勢。

Processing time increased significantly to 22.3 months, representing a 121% increase compared with FY2025 Q1. This suggests that direct EB-5 petitions continue to receive lower adjudication priority than Regional Center petitions. 處理時間顯著增加至 22.3 個月，與 2025 財年第一季相比增加了 121%。這表明，直接 EB-5 申請的審批優先順序仍然低於區域中心申請。 

3. Pre-RIA I-526 Petitions Legacy – Inventory Continues to Decline

3. RIA實施前遺留的I-526申請－積壓持續下降

USCIS continues to reduce its inventory of legacy (pre-RIA) I-526 petitions.

美國公民及移民服務局（USCIS）持續減少其遺留的（RIA實施前）I-526申請。

The pending inventory declined by 59.9%, from 2,668 petitions in FY2025 Q1 to 1,071 petitions in FY2026 Q1. 待處理申請數下降了59.9%，從2025財年第一季的2,668份降至2026財年第一季的1,071份。

At the same time, USCIS completed 91% fewer legacy petitions than one year earlier, reflecting the substantially smaller remaining inventory. 同時，USCIS完成的遺留申請數量比一年前減少了91%，這反映了剩餘申請數量的大幅減少。

Processing time increased to 93.2 months, representing a 31.5% increase compared with FY2025 Q1. The remaining legacy cases now require, on average, more than seven and a half years to adjudicate. 處理時間增加至93.2個月，比2025財年第一季增加了31.5%。目前，剩餘的遺留案件平均需要七年半以上的時間才能審理完畢。

The approval rate also declined significantly, from 75.2% in FY2025 Q1 to 41.4% in FY2026 Q1.批准率也大幅下降，從 2025 財年第一季的 75.2% 下降到 2026 財年第一季的 41.4%。

Taken together, the increasing processing times, declining approval rates, and lower adjudication volume suggest that USCIS may now be adjudicating the most complex or difficult remaining legacy petitions. While the available data does not establish the reason for these trends, this interpretation is consistent with the continued reduction of the legacy inventory. 綜合來看，處理時間延長、批准率下降以及審理量減少表明，美國公民及移民服務局（USCIS）目前可能正在審理最複雜或最棘手的遺留申請。雖然現有數據無法確定造成這些趨勢的原因，但這種解釋與遺留申請數量持續減少的情況相符。

4. I-829 Petitions – Receipts Decline While Backlog Continues to Shrink

4. I-829 申請－受理數量下降，積壓案件持續減少

I-829 petitions continue to exhibit the strongest and most consistent adjudication performance within the EB-5 program.在EB-5計畫中,I-829申請的審批表現依然強勁且穩定。

Receipts declined modestly by 14.3%, while the pending inventory decreased by 9.7%, continuing the gradual downward trend observed throughout FY2025. 受理數量小幅下降 14.3%，而待處理案件數量下降 9.7%，延續了 2025 財年持續下降的趨勢。

Processing time improved substantially, decreasing from 19.2 months in FY2025 Q1 to 8.9 months in FY2026 Q1, representing a 53.6% reduction. 處理時間大幅縮短，從 2025 財年第一季的 19.2 個月降至 2026 財年第一季的 8.9 個月，降幅達 53.6%。

Approval rates remained exceptionally strong, consistently exceeding 93%, with only minimal variation between reporting periods. 核准率依然非常高，持續超過 93%，且各報告期間之間的波動極小。

Overall, the FY2026 Q1 data indicates that I-829 adjudications remain efficient, predictable, and highly favorable for petitioners, standing in contrast to the increasingly challenging adjudication environment for post-RIA I-526E petitions. 總體而言，2026 財年第一季的數據表明，I-829 申請的審批依然高效、可預測，且對申請人極為有利，這與 RIA 生效後 I-526E 申請日益嚴峻的審批環境形成鮮明對比。