EB-5 Source of Funds from Commingled Accounts

When large unexplained deposits and lawful-source funds are mixed together, USCIS may require evidence resolving which funds were used.

Commingling does not automatically disqualify EB-5 capital, but it can make the source of the invested amount harder to prove. USCIS has explained that the source of commingled funds may need documentation when the record does not make clear which deposits supplied the investment. The analysis should therefore focus on the funds actually used for the EB-5 transfer and any other deposits that materially affect that tracing. A large ending balance alone is not enough if the account contains significant unexplained deposits that could have supplied the money ultimately invested.

The useful period depends on the account activity and the source claimed.

The statement period should be long enough to show how the relevant balance accumulated and how the claimed lawful source entered the account. There is no single number of months that works for every case. A salary savings case may require a longer history than a recent property sale, gift, or business distribution. The record should show opening balances, material deposits, internal transfers, and the outgoing EB-5 payment. When older statements are unavailable, the investor should explain the gap and use reliable substitute records that still establish the source and continuity of the funds.

Salary savings, property proceeds, gifts, business distributions, or other lawful sources can coexist in one account if the record sufficiently explains them.

Several lawful sources can be combined in one account without making the resulting EB-5 capital unlawful. Salary savings, property proceeds, gifts, securities sales, business distributions, or other lawful funds may all contribute to the final balance. Each material source used toward the investment should be documented under the rules applicable to that source. A transaction schedule can allocate the total investment among those components and reconcile the amounts to the bank statements. The petition should avoid describing the entire transfer as one source if the account history shows that several different sources materially funded it.

Where unrelated funds are material to the account balance, the investor should consider whether additional explanation is needed to establish the invested capital by a preponderance of the evidence.

Deposits that are not part of the EB-5 source can still matter if they are large enough to make tracing uncertain. USCIS applies a preponderance of the evidence standard, so the investor should address material unexplained deposits when they could reasonably be viewed as supplying the invested funds. Small routine account activity may require little discussion, while a large third party transfer shortly before the EB-5 wire may require direct explanation. The goal is not necessarily to document every transaction in the account, but to eliminate uncertainty about the lawful origin of the capital actually invested.

A spreadsheet or flow chart can identify source deposits, dates, balances, transfers, and the amount ultimately remitted.

The schedule should be supported by original banking records.

Complex commingled accounts are easier to review when the filing includes a transaction schedule tied to the original statements. The schedule can identify date, amount, account owner, source event, running balance, internal transfer, currency conversion, and the final EB-5 wire. Color coding or flow charts can help, but they should summarize rather than replace primary banking evidence. The arithmetic should be reproducible from the exhibits. If funds move through several accounts, the presentation should show each link and explain fees or exchange differences so the documented lawful sources remain traceable to the amount received by the NCE.

• Complete bank statements
• Deposit records
• Source transaction evidence
• Transfer confirmations
• Transaction schedule
• Currency exchange records
• NCE receipt records

A commingled funds package should combine complete account history with the source records for the deposits that materially funded the investment. Useful exhibits can include bank statements, deposit confirmations, payroll or business records, property sale documents, gift or loan evidence, securities statements, currency exchange records, internal transfer confirmations, and the NCE receipt. A source table should identify which documents support each material deposit. Where the account contains unrelated funds, the filing should explain enough of that activity to demonstrate that the EB-5 capital can still be traced by a preponderance of the evidence to lawful sources.