{
  "slug": "accredited-investor",
  "name": "Accredited Investor",
  "jurisdiction": "US",
  "regulator": "SEC",
  "kind": "rule",
  "effective_date": "1982-04-15",
  "summary": "Investor qualification under Rule 501(a) of Regulation D. The standard most private funds rely on for U.S. investor onboarding under Rule 506.",
  "key_provisions": [
    {
      "section": "Income test (individual)",
      "summary": "$200K individual / $300K joint income each of last two years and reasonable expectation of same in current year."
    },
    {
      "section": "Net-worth test",
      "summary": "$1M individual or joint net worth, excluding primary residence."
    },
    {
      "section": "Professional certifications (added 2020)",
      "summary": "Series 7, 65, 82 holders qualify based on knowledge."
    },
    {
      "section": "Entities",
      "summary": "Various — including $5M asset entities and entities owned solely by accrediteds."
    }
  ],
  "thresholds": [
    {
      "name": "Individual income (single)",
      "value": 200000,
      "currency": "USD"
    },
    {
      "name": "Individual income (joint)",
      "value": 300000,
      "currency": "USD"
    },
    {
      "name": "Net worth (excluding primary residence)",
      "value": 1000000,
      "currency": "USD"
    }
  ],
  "related_regulations": [
    "regulation-d",
    "investment-company-act-1940"
  ],
  "related_terms": [
    "qualified-purchaser",
    "private-placement",
    "regulation-d"
  ],
  "official_text_url": "https://www.ecfr.gov/current/title-17/chapter-II/part-230/section-230.501",
  "history": "Original Rule 501(a) adopted 1982. Major modernization in 2020 expanded definition to include knowledgeable employees of private funds and certain professional certification holders."
}