Definition of Accredited Investors
It’s estimated that 10.6% of all American households—roughly 10 million households—qualified as accredited investors in 2020.[1] Accredited investors have access to a broad array of investment options that the remaining 89.4% of US households do not.
Accredited Investors Definition
The SEC defines an accredited investor in Rule 501[2] as:
- 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.
- Entities where all equity owners are accredited investors.
- Entities owning investments in excess of $5 million
- The following entities with assets in excess of $5 million: corporations, partnerships, LLCs, trusts, 501(c)(3) organizations, employee benefit plans, “family office” and any “family client” of that office.
- A bank, savings and loan association, insurance company, registered investment company, business development company, or small business investment company or rural business investment company.
- Investment professionals in good standing holding the general securities representative license (Series 7), the investment adviser representative license (Series 65), or the private securities offerings representative license (Series 82).
- Directors, executive officers, or general partners (GP) of the company selling the securities (or of a GP of that company).
- Any “family client” of a “family office” that qualifies as an accredited investor.
- For investments in a private fund, “knowledgeable employees” of the fund.
- Investment advisers (SEC- or state-registered or exempt reporting advisers) and SEC-registered broker-dealers.
[1] https://dqydj.com/accredited-investors-in-america/.
[2] https://www.sec.gov/education/capitalraising/building-blocks/ accredited-investor#~:text=Financial%20Criteria,same%20for%20the%20current%20year
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