---
title: "Build an accredited-investor worksheet under Rule 501"
url: "https://ailawframework.com/practice/financial-services-regulation/screen-and-record-wholesale-or-sophisticated-client-status/united-states"
type: "task_jurisdiction_version"
site: "AI Law Framework"
id: "A28-X20260927-8-US"
practice_area: "Financial Services Regulation (AFSL/ASIC/credit)"
tier: "yellow"
lawyer_review: "required"
jurisdictions: ["US"]
last_reviewed: "2026-10-22"
---

# Build an accredited-investor worksheet under Rule 501

> Extract income figures, net-worth components, entity type and assets from the documents the lawyer points to, each with a cite. Do not mark the person or entity as accredited.

Canonical page: https://ailawframework.com/practice/financial-services-regulation/screen-and-record-wholesale-or-sophisticated-client-status/united-states  
Last reviewed: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

| Fact | Value |
| --- | --- |
| Practice area | [Financial Services Regulation (AFSL/ASIC/credit)](https://ailawframework.com/practice/financial-services-regulation.md) |
| Human involvement | Yellow: Lawyer and AI draft together |
| How AI is used | Extract income figures, net-worth components, entity type and assets from the documents the lawyer points to, each with a cite. Do not mark the person or entity as accredited. |
| What the lawyer must review | 17 C.F.R. § 230.501(a)(5) includes a natural person whose individual net worth, or joint net worth with a spouse or spousal equivalent, exceeds $1,000,000. For that calculation the person's primary residence is not included as an asset, and the paragraph has further rules for debt secured by the residence. Paragraph (a)(6) is individual income over $200,000 in each of the two most recent years, or joint income over $300,000, with a reasonable expectation of the same income in the current year. Paragraphs (a)(3) and (a)(8) are separate paths for certain entities. You decide which paragraph applies and whether the evidence is enough. Do not use an Australian wholesale-client test. |
| Written for | United States |
| Applies to | [Screen and record wholesale or sophisticated client status](https://ailawframework.com/practice/financial-services-regulation/screen-and-record-wholesale-or-sophisticated-client-status.md) |

## Checking plan

- What the AI does: Extract income figures, net-worth components, entity type and assets from the documents the lawyer points to, each with a cite. Do not mark the person or entity as accredited.
- Basis: Checked against the linked sources on 22 October 2026. Confirm the current instrument before reliance.

## Notes

- Read the 60-day mortgage adjustment in Rule 501(a)(5)(i) before signing off on net worth.
- A professional certification qualifies only if the Commission has designated it under paragraph (a)(10). Do not assume a licence qualifies.

## Sources

- [17 C.F.R. § 230.501, Definitions and terms used in Regulation D](https://www.law.cornell.edu/cfr/text/17/230.501) (checked 2026-10-22)
- [ABA Model Rule 1.1, Competence](https://www.americanbar.org/groups/professional_responsibility/publications/model_rules_of_professional_conduct/rule_1_1_competence/) (checked 2026-10-22)

## Forms and precedents for this task

| Form or precedent | Kind | AI level | Summary |
| --- | --- | --- | --- |
| [Record of retail, wholesale or sophisticated client status](https://ailawframework.com/precedents/financial-services-regulation/wholesale-client-status-record.md) | Memo | Yellow | Working record under sections 761G and 761GA of the Corporations Act 2001. Dollar thresholds that sit in the regulations are left blank. The principal decides the status. |

Signed-in accounts can read the full text of each one.

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*