Note: This article has been updated to reflect recent changes in the software. Please review the new information to stay up to date with the latest features and improvements.
An Investor's accreditation status can be updated in a several ways (a video demonstration of each is below):
Option 1: A Sponsor receives an accreditation verification letter and uploads a copy directly to the Investor's Account.
Option 2: An Investor uploads an accreditation verification letter through the Investor Portal while making their investment.
Option 3: An Investor completes an automated Investor accreditation through the Investor Portal - using the integrated Accreditation Verification process.
NOTE: When the accreditation certificate is received, the certification will typically have a 90-day expiration date. The Accreditation is typically good for 5 years if there are no material changes to the investor's status.
If the investor invests again within the 90-day window, the system will not require the investor to re-certify or to self-attest. This applies to an additional investment in the same capital raise, as well as to investments in new capital raises.
If the 90-day window has passed, but the 5 years have not passed, the investor will be required to self-certify to attest that no material changes have occurred that would affect their accreditation status.
Option 1. A Sponsor receives an accreditation verification letter and uploads a copy to the Investor's Account.
IMPORTANT:
Only a Sponsor may delete an accreditation letter if the following conditions are true:
The Accreditation letter was uploaded by a sponsor (not an investor)
The Accreditation letter is not associated with any Commitment
How to Delete an Accreditation Letter:
The Sponsor may take these steps to delete the Accreditation Letter:
Go to the Investor's Account.
Click on the Accreditation tab for the Account. The Accreditation Details window will display.
Click the Delete button:
The following popup will display:
4. Click the Delete button to complete the deletion and this message will display:
Option 2. An Investor uploads an accreditation verification letter through the Investor Portal while making their investment.
IMPORTANT:
Sponsors and Investors do not have the ability to delete an Accreditation Letter if the Investor has uploaded it during the Commitment process.
NOTE: If the investor uploaded their letter in their portal, under the Documents section of their portal, they may only download it. They cannot delete it or replace it or remove it from that location either.
How to update an Accreditation when the Accreditation Letter was Rejected:
The Sponsor has two options:
Option 1: In the Investor's Commitment:
Go to the investor’s Commitment.
Click into the Commitment Details.
Click the Copy Link button to copy the link to the investor’s Accreditation page in their portal so they can upload an updated Accreditation Letter.
If the Automated Verification is enabled for this capital raise to use the third-party accreditation service, click the Send Request button to send a request to the investor to start the automated verification process.
Option 2: The sponsor can upload an updated Accreditation Letter in the investor's Account under the Accreditation tab.
Option 3: An Investor completes an automated Investor accreditation through the Investor Portal using the integrated accreditation verification process.
NOTE: At this time, our Accreditation Verification feature is powered by Accredd!
When the investor already has a current Accreditation Certificate and uploads it to a Commitment, the Sponsor is sent this notification so they can review and if approved, set the investor's Account to Accredited:
If an investor submits an Accreditation Request to Accredd and the Accredd application is rejected, the Sponsor and the Investor will receive an email notification stating the reason for the rejection and a link to retry their verification.
If an investor's Accredd application to Accredd is Approved by Accredd:
The investor's Account is automatically set to Accredited and an expiration date is set for 90 days after the accreditation date provided by Accredd
The investor can move to the next step in their Commitment process
Any questions or concerns about your investor's pending verification status? Reach out to our support team at support@investnext.com for assistance!
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