Under SEC law, a company that offers its own securities must register these investments with the SEC before it can sell them unless it meets an exception. One of those exceptions is selling unregistered investments to accredited investors.
To become an accredited investor the (SEC) requires certain wealth, income or knowledge requirements. The investor must fall into one of three categories. Firms selling unregistered securities must put investors through their own screening process to determine if investors can be considered an accredited investor.
The Verifying Individual or Entity should take reasonable steps to verify and determined that an Investor is an "accredited investor" as such term is defined in Rule 501 of the Securities Act, and hereby provides written confirmation. This letter serves to help the Entity determine status.
Arizona Accredited Investor Suitability
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To confirm their status as an accredited investor, an investor can submit official documents for net worth and income verification, including: Tax returns. Pay stubs. Financial statements. IRS forms. Credit report. Brokerage statements. Tax assessments.
dealer registered with the Securities and Exchange Commission. An investment advisor registered with the Securities and Exchange Commission. A licensed attorney who is in good standing under the laws of the jurisdictions in which he or she is admitted to practice law.
Requirements to Be an Accredited Investor A natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.
To comply with the notice filing requirement, send a copy of Form D and the filing fee for $250 to the Arizona Securities Division. The Form D and filing fee can be submitted online through the Division's Form D Filing Page.
In the case of a successful verification, you'll get an attorney's letter certifying that you have been verified as an accredited investor pursuant to standards required by federal laws.
Go to EDGAR and log in using your CIK and access codes. Choose ?Form D? under ?Make a Filing.? After you complete and submit your Form D, an email message will notify you of the status of your submission.
Deadline for filing Form D The form should be filed before or at the time of the first sale of securities, and it must be filed even if the offering does not result in any sales. Not filing Form D or filing it late can result in significant penalties for companies issuing securities in a private offering.
Commission rules further require the notice to be filed within 15 days after the first sale of securities in the offering based on the exemption. For this purpose, the date of first sale is the date on which the first investor is irrevocably contractually committed to invest.
You must file Form D within 15 days of beginning to sell securities. Qualifying for an exemption under Regulation D isn't enough if you don't file on time. Your first ?sale? only occurs when an investor is completely under contract to provide funding. This timeline refers to 15 business days.
To confirm their status as an accredited investor, an investor can submit official documents for net worth and income verification, including: Tax returns. Pay stubs. Financial statements. IRS forms. Credit report. Brokerage statements. Tax assessments.