While our initial verifications are already straightforward and simple, our re-verification process can be even simpler! Depending on your situation and verification type, you may even be eligible for automatic re-verifications. Please see the options below:
Income – Even though the income test for accredited investors is annual, the SEC still requires that our verifications expire at a maximum of 90 days from the date we inspect the documents. For every income verification, users are given the option to agree to update InvestReady if any material changes to their prior years' income amount occurs (such as filing amended returns, etc). If the user agrees, we'll use your previously uploaded documents or the documents provided to us by the IRS to re-verify your account through the following year.
Net Worth – For investors with $2MM+ in net worth, users are given the option to agree to update InvestReady if any material changes to their net worth. If no changes occur, we'll automatically re-verify your certification for another 90 days and continue to re-verify you up to one year from the date of the documents used to verify you. And for investors with $5MM+ in assets, we are able to skip the credit report step of the process as well, resulting in faster processing for both initial verifications as well as re-verifications.
Third Party – For investors using a third party, we have adjusted our forms to include additional fields for the third party to indicate whether an investor has a net worth of $2MM+ or assets of $5MM+, allowing them to be enrolled in our automatic re-verification process after agreeing to the terms on our site.
Entity – For entities with $10MM+ in assets, we provide the ability to automatically re-verify for up to one year from the earliest asset date used in the initial verification. Our third party forms have also been updated to reflect this.