Verifying your accreditation status is a crucial step of getting started with investing on EquityMultiple. We are required, per SEC standards, to ensure that investors meet certain financial or professional requirements before participating in investment opportunities. By verifying an investor's accreditation status, we aim to provide a safe and secure investment environment.
Upon sign up, our automatic accreditation verification engine will run in the background and attempt to certify your accreditation status. If you're not automatically verified as an accredited investor, you'll see a "Verify Now" button on your Accreditation page. This means that you'll need to verify your accreditation status using one of the following methods:
Professional Letter: One way to verify your accredited status is by obtaining a letter from a CPA, attorney, or other approved third-party service provider that certifies your status. This is a process that can take some time, as you'll need to contact these professionals and request that they provide you with the necessary documentation. You may also need to provide additional information to them in order to help them verify your status.
VerifyInvestor: Alternatively, you can use VerifyInvestor to verify your accredited status by following their steps. This process can also take some time, as you'll need to complete the necessary steps and provide the required information.
To manually verify your accreditation status on your investment account with EquityMultiple, follow these simple steps:
Log in to your account on the EquityMultiple website.
Once you have logged in, navigate to the "My Account" tab and select the "Accreditation" tab.
Here, you will be prompted to submit a professional letter, or to utilize VerifyInvestor, in order to verify your accreditation status.
Once you have completed the process, you can follow updates on the review process. A green "Verified" text will display once your investment account has passed review.
Download a copy of the Accreditation Verification Sample letter for your third-party here:
It is worth noting that the accreditation process can take some time. Therefore, we recommend that you start the accreditation process as soon as possible to avoid any delays in participating in investment opportunities. This is particularly important for investment opportunities with a limited window for participation.
Accreditation is a key component of our platform and is designed to ensure that all investors have the necessary financial or professional qualifications to participate in investment opportunities. By thoroughly verifying your accreditation status, we aim to provide a secure and reliable investment platform that prioritizes the safety of our investors.
In conclusion, it is important to begin the accreditation process as soon as possible to avoid any delays in participating in investment opportunities. Don't hesitate to reach out to our support team if you have any questions or concerns about the accreditation process. We are here to help you every step of the way.
It's important to note that the SEC has specific criteria for what constitutes an accredited investor. Generally, individuals with an income of at least $200,000 per year (or $300,000 for joint income) for the past two years, or a net worth of at least $1 million (excluding the value of their primary residence), are considered accredited. Additionally, individuals who are employees of a private fund with assets of at least $5 million are also considered accredited. Entity investment accounts have an additional set of requirements for accreditation. For an exhaustive list of accreditation requirements, please see the guidance outlined by the SEC.
If you are unsure whether or not you meet these criteria, it's always a good idea to consult with a qualified financial advisor.