The I-829 process should remove the conditions of your conditional permanent residency for yourself and family members so that you may obtain unconditional permanent residency status and remain in the United States in legal residency status. However, if the I-829 is denied, you continue to pursue remedies and there is an ultimate denial of the I-829 then this will result in yourself and all family members including your children to be out of status and therefore unable to remain in the United States. Before you start the EB-5 process or alternatively during the EB-5 process of obtaining the initial presidency it is imperative to seek the services of an experienced EB-5 attorney so that they may help you understand your options to continue to be legal in the United States.
The result of a denial of the I-829 is the termination of your status. The derivative beneficiaries would be similarly affected. You could immediately. Remaining in the U.S. could have negative, long-lasting consequences.