---
title: "Accredited investor question list for Rule 506"
url: "https://ailawframework.com/precedents/capital-markets-and-securities-ecm-dcm-and-disclosure/us-accredited-investor-questions"
type: "precedent"
site: "AI Law Framework"
id: "a4-us-accredited-investor-questions"
area_id: "A4"
kind: "checklist"
ai_level: "yellow"
version: 1
task_ids: ["A4-X20260927-2"]
law_stated_as_at: "2026-10-22"
---

# Accredited investor question list for Rule 506

> Question list covering the Rule 501(a) categories that were read, plus the Rule 506(c) verification examples. It does not decide that a purchaser is accredited.

Canonical page: https://ailawframework.com/precedents/capital-markets-and-securities-ecm-dcm-and-disclosure/us-accredited-investor-questions  
Law stated as at: 2026-10-22

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

## Key facts

- Kind: Checklist. Steps or checks to work through and tick off.
- Practice area: [Capital Markets & Securities — ECM/DCM and Disclosure](https://ailawframework.com/precedents/capital-markets-and-securities-ecm-dcm-and-disclosure.md)
- Jurisdictions: United States
- AI level: Yellow. You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at: 2026-10-22
- Status: Maintained. Checked on 2026-10-22 against the 2 authorities it cites, for United States.

## When to use it

Use when building an eligibility record for a Rule 506 offer. Do not use a purchaser's answers as a conclusion that the issuer may sell.

## Used for these tasks

- [Build the investor eligibility record for an offer made without disclosure](https://ailawframework.com/practice/capital-markets-and-securities-ecm-dcm-and-disclosure/build-the-investor-eligibility-record-for-an-offer-made-without-disclosu.md)

## How AI may be used

Yellow: the lawyer decides which category, if any, a purchaser meets, and which verification steps fit a 506(c) sale.

**AI may:**

- Ask the purchaser which Rule 501(a) category is relied on, using only categories from the opened text.
- Apply the primary-residence net-worth rules in Rule 501(a)(5) when that category is used.
- For a 506(c) sale to a natural person, list the non-exclusive verification methods as examples the issuer may choose.

**AI must not:**

- Do not mark a purchaser as accredited.
- Do not name a professional certification as one the Commission has designated. Rule 501(a)(10) says the Commission posts the current list.
- Do not restate the investments definition in Rule 2a51-1(b), the knowledgeable-employee definition in Rule 3c-5(a)(4), or the family-office definition. Those rules were not opened.
- Do not treat a questionnaire as the reasonable steps required by Rule 506(c).

**The lawyer checks:**

- Decide the category at the time of sale, which is when Rule 501(a) tests status.
- For joint income or joint net worth, obtain the forms and representations from both persons, as the instructions to Rule 506(c)(2)(ii) state for a spouse.
- Read Rule 2a51-1(b) before using category (a)(9).
- Keep the verification documents. This list does not set a retention period.

## Authorities

- [17 CFR § 230.501](https://www.law.cornell.edu/cfr/text/17/230.501)
- [17 CFR § 230.506](https://www.law.cornell.edu/cfr/text/17/230.506)

## Full text and drafting notes

The full text and the drafting notes are not part of this public page. Signed-in firm accounts can read them at https://ailawframework.com/precedents/capital-markets-and-securities-ecm-dcm-and-disclosure/us-accredited-investor-questions and through the signed-in MCP connector https://ailawframework.com/mcp/firm.

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