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.
Utah Certificate of Accredited Investor Status
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Multi-State
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US-ENTREP-0011-13
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Word;
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How to fill out Certificate Of Accredited Investor Status?
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FAQ
You can lose accredited investor status if your net worth or your earnings suddenly drop. If you hold certain professional financial qualifications, you can lose the status if your certifications are invalidated.
An investment vehicle, such as a fund, would have to determine that you qualify as an accredited investor. To do this, they would ask you to fill out a questionnaire and possibly provide certain documents, such as financial statements, credit reports, or tax returns.
Based on guidance from the SEC, your accreditation is valid for 5 years as long as you self-certify that you still retain your status as an accredited investor.
Reviewing bank statements, brokerage statements, and other similar reports to determine net worth. Obtaining written confirmation of the investor's accredited investor status from one of the following persons: a registered broker-dealer, an investment adviser registered with the SEC, a licensed attorney, or a CPA.
Maintaining Accredited Investor Status You must provide your income and asset documentation, and the fund must do its due diligence to ensure you are accredited. Funds must provide investors with a questionnaire that requires proof of documentation to allow the investment.
Net worth over $1 million, excluding primary residence (individually or with spouse or partner) Income over $200,000 (individually) or $300,000 (with spouse or partner) in each of the prior two years, and reasonably expects the same for the current year.
An entity is considered an accredited investor if it is a private business development company or an organization with assets exceeding $5 million. Also, if an entity consists of equity owners who are accredited investors, the entity itself is an accredited investor.
The questionnaire may require various attachments: account information, financial statements, and a balance sheet to verify the qualification. The list of attachments can extend to tax returns, W-2 forms, salary slips, and even letters from reviews by CPAs, tax attorneys, investment brokers, or advisors.
Based on guidance from the SEC, your accreditation is valid for 5 years as long as you self-certify that you still retain your status as an accredited investor.
If you are accredited based on income, you will need to provide documentation in the form of tax returns, W-2s, or other official documents that show you meet the required income threshold for the prior two years.