In the United States, the SEC defines an accredited investor in Rule 501 of Regulation D.2:
- Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse or spousal equivalent in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.
- Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described in § 230.506(b)(2)(ii)
- Any entity in which all of the equity owners are accredited investors.
SmartFi requires that users in the United States wishing to open a SmartInterest account meet the definition above for accredited investors.