An investor can self-attest to be an accredited investor once they've previously provided an Accreditation Letter that is less than 5 years old. This feature empowers the investor to vouch that there are no material changes to their accredited status.
This feature benefits both investors and sponsors. Investors can easily maintain their accredited status without the hassle of obtaining a new Accreditation Letter every 5 years. For sponsors, this means a faster and more streamlined fundraising process, as they can rely on the self-attestation of their investors instead of waiting for them to obtain and provide new documentation.
When the accreditation certificate is received, the certification will typically have a 90-day expiration date on it. 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.
An investor can self-attest when going through the commitment/investor flow for an investment in a capital raise. They will be prompted to attest that their financial situation has not significantly changed since they last provided their Accreditation Letter. This is an important step in ensuring compliance with SEC regulations and providing investors with a seamless experience.
Step 1. Log into the investor portal
Step 2. Click on Offerings
Step 3. Choose the offering you would like to make an investment in
Step 4. Complete the investor flow process, you will be prompted to attest to your accreditation status during the commitment flow.
Check out the video below going through the above steps: