The September 2026 Visa Bulletin kept the Filing Dates and Final Action Dates for Reserved and Unreserved EB-5 categories unchanged—meaning no advances or retrogression this month for these petitions.
But tucked at the end of this key monthly bulletin is a notice worth understanding, especially for applicants in the Unreserved EB-5 category, which is the “regular” EB-5 pool for investments that don’t qualify for — or aren’t allocated to — one of the reserved set-asides.
Final Action dates determine when an investor’s immigrant visa or adjustment of status application can be approved—the I-526E petition itself is adjudicated regardless of visa availability. Filing Dates determine when an investor can submit that application, though for September USCIS has directed employment-based adjustment applicants to use the Final Action Dates chart, so Chart B does not govern adjustment filings this month.
The Department of State (DOS) kept the Final Action Date for EB-5 investors from Mainland China in the Unreserved category at December 1, 2016, meaning Chinese investors with priority dates earlier than that date can have their green card applications approved—holding steady at least spares Chinese families the disruption retrogression would cause. The Filing Date for Chinese applicants remains March 1, 2017.
In contrast, the Final Action Date for Indian EB-5 investors in the Unreserved category remains “”unavailable“—India’s FY2026 allocation in this category was exhausted, and DOS declared it unavailable effective June 10, 2026. No new approvals will occur until visa numbers reset with the new fiscal year on October 1. The Filing Date for Indian Unreserved investors is currently May 1, 2024.
For most EB-5 applicants, this stability is good news: no new waiting was imposed this month. For Indian investors, though, the status quo remains a closed door until October 1.
A caution before fiscal year 2026 closes
Alongside the unchanged dates, the bulletin included cautionary language for the Unreserved category: “Sufficient demand and increased number use in the EB-5 unreserved visa category may make it necessary to retrogress the final action date or make the category unavailable before the end of the fiscal year” to stay within the FY 2026 annual limit. That applies to the closing weeks of FY2026 — DOS is signaling it may act before September 30, not after it.
“The warning instead reflects visas being issued or allocated to already-mature unreserved cases,” said Charles Oppenheimer of WR Immigration.
“A version of this warning first appeared in the May bulletin, and at that time it named India specifically,” said Kyle Mitchell of Mitchell EB5. “Indian unreserved had advanced quickly earlier in the fiscal year, and the [DOS] followed through in July when India’s pro-rated limit was reached and the category became unavailable for the rest of FY 2026. I read this new statement as directed at what’s still active and unreserved, meaning China and the rest of the world.”
This caution reflects a pattern that has developed since EB-5 was split into Reserved and Unreserved pools under the EB-5 Reform and Integrity Act of 2022 (RIA). Of the approximately 10,000 EB-5 visas available each fiscal year, 68% are allocated to the Unreserved category, while the remaining 32% are set aside for Reserved categories (rural, high-unemployment, and infrastructure projects).
Historically, China and India—the two largest sources of EB-5 demand—have driven heavy usage in the Unreserved pool, since much of their investment activity has flowed into standard urban projects rather than rural or high-unemployment areas.
As a result, the Unreserved category has faced backlogs and retrogression more often, while Reserved categories have frequently had visa numbers go unused due to comparatively lower demand. Those unused reserved numbers carry over to the same set-aside categories the following year before any spillover reaches the unreserved pool.
However, September’s visa bulletin stability doesn’t guarantee that the Final Action or Filing Dates won’t shift in upcoming bulletins.
Could the expected rise in demand due to the “grandfathering” deadline lead to retrogression?
There is an expected rush to apply for the EB-5 visa by the September 30 “grandfathering” deadline.
This provision, established by the RIA, protects individuals who file for the EB-5 program before October 1, 2026. This means that anyone who submits their application before that date will be safeguarded, even if the EB-5 program lapses after their application is filed, given the program’s scheduled end in 2027. However, those who apply after this deadline may face uncertainties, including the possibility that their applications will not be guaranteed processing if the program is no longer available.
Could this estimated rise in demand influence the expected retrogression cautioned by DOS in this September Visa Bulletin?
The EB-5 specialists agree it is very unlikely.
“I don’t expect much or any correlation with the current push to file by the 9/30 grandfathering deadline. Final action dates respond to visa numbers actually used, not new filings. A petition filed this month won’t reach the visa stage for years, and the majority of those filings are in the reserved categories. So the rush will show up in future bulletins down the road,” said Mitchell.
Oppenheimer added, “Today’s filing rush will enlarge the pipeline and could influence the Visa Bulletins in FY2027 and beyond, as petitions are approved and applicants become documentarily qualified or eligible for final adjustment action. In short: the September 30 rush may plant the seeds of future retrogression, but it is not the cause of the immediate year-end crunch.”
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