Fund with each petition filed under 
section 204(a)(1)(H) for classification 
under subparagraph (E). The fee 
under this subclause is in addition to 
the fee that the Secretary is author-
ized to establish and collect for each 
petition to recover the costs of adju-
dication and naturalization services 
under section 286(m). 
‘‘(III) 
INCREASES.—The 
Sec-
retary may increase the amounts 
under this clause by prescribing such 
regulations as may be necessary to en-
sure that amounts in the Fund are 
sufficient to carry out the purposes 
set forth in clause (iii). 
‘‘(iii) PERMISSIBLE USES OF FUND.— 
The Secretary shall— 
‘‘(I) use not less than 1⁄3 of the 
amounts deposited into the Fund for 
investigations based outside of the 
United States, including— 
‘‘(aa) monitoring and inves-
tigating program-related events 
and promotional activities; and 
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‘‘(bb) ensuring an alien in-
vestor’s compliance with subpara-
graph (L); and 
‘‘(II) use amounts deposited into 
the Fund— 
‘‘(aa) to detect and inves-
tigate fraud or other crimes; 
‘‘(bb) to determine whether 
regional centers, new commercial 
enterprises, job-creating entities, 
and alien investors (and their 
alien spouses and alien children) 
comply with the immigration 
laws; 
‘‘(cc) to conduct audits and 
site visits; and 
‘‘(dd) as the Secretary de-
termines to be necessary, includ-
ing monitoring compliance with 
the requirements under section 7 
of the EB–5 Reform and Integ-
rity Act of 2021. 
‘‘(iv) FAILURE
TO
PAY
FEE.—The 
Secretary of Homeland Security shall— 
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‘‘(I) impose a reasonable penalty, 
which shall be deposited into the 
Fund, if any regional center does not 
pay the fee required under clause (ii) 
within 30 days after the date on 
which such fee is due; and 
‘‘(II) terminate the designation 
of any regional center that does not 
pay the fee required under clause (ii) 
within 90 days after the date on 
which such fee is due. 
‘‘(v) REPORT.—The Secretary shall 
submit an annual report to the Committee 
on the Judiciary of the Senate and the 
Committee on the Judiciary of the House 
of Representatives that describes how 
amounts in the Fund were expended dur-
ing the previous fiscal year. 
‘‘(K) DIRECT
AND
THIRD-PARTY
PRO-
MOTERS.— 
‘‘(i) RULES AND STANDARDS.—Direct 
and third party promoters (including mi-
gration agents) of a regional center, any 
new commercial enterprise, an affiliated 
job-creating entity, or an issuer of securi-
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ties intended to be offered to alien inves-
tors in connection with a particular capital 
investment project shall comply with the 
rules and standards prescribed by the Sec-
retary of Homeland Security and any ap-
plicable Federal or State securities laws, to 
oversee promotion of any offering of secu-
rities related to the EB–5 Program, in-
cluding— 
‘‘(I) registration with U.S. Citi-
zenship and Immigration Services, 
which— 
‘‘(aa) 
includes 
identifying 
and contact information for such 
promoter and confirmation of the 
existence of the written agree-
ment required under clause (iii); 
and 
‘‘(bb) may be made publicly 
available at the discretion of the 
Secretary; 
‘‘(II) certification by each pro-
moter that such promoter is not ineli-
gible under subparagraph (H)(i); 
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‘‘(III) guidelines for accurately 
representing the visa process to for-
eign investors; and 
‘‘(IV) guidelines describing per-
missible fee arrangements under ap-
plicable securities and immigration 
laws. 
‘‘(ii) EFFECT OF VIOLATION.—If the 
Secretary determines that a direct or 
third-party promoter has violated clause 
(i), the Secretary shall suspend or perma-
nently bar such individual from participa-
tion in the program described in subpara-
graph (E). 
‘‘(iii) COMPLIANCE.—Each regional 
center, new commercial enterprise, and af-
filiated job-creating entity shall maintain a 
written agreement between or among such 
entities and each direct or third-party pro-
moter operating on behalf of such entities 
that outlines the rules and standards pre-
scribed under clause (i). 
‘‘(iv) 
DISCLOSURE.—Each 
petition 
filed under section 204(a)(1)(H) shall in-
clude a disclosure, signed by the investor, 
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that reflects all fees, ongoing interest, and 
other compensation paid to any person 
that the regional center or new commercial 
enterprise knows has received, or will re-
ceive, in connection with the investment, 
including compensation to agents, finders, 
or broker dealers involved in the offering, 
to the extent not already specifically identi-
fied in the business plan filed under sub-
paragraph (F). 
‘‘(L) SOURCE OF FUNDS.— 
‘‘(i) IN GENERAL.—An alien investor 
shall demonstrate that the capital required 
under subparagraph (A) and any funds 
used to pay administrative costs and fees 
associated with the alien’s investment were 
obtained from a lawful source and through 
lawful means. 
‘‘(ii) REQUIRED INFORMATION.—The 
Secretary of Homeland Security shall re-
quire that an alien investor’s petition 
under this paragraph contain, as applica-
ble— 
‘‘(I) business and tax records, or 
similar records, including— 
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