How to create or update an Investing Account

Creating an Investing Account

To create an Investing Account, follow these steps:

• Click on Investing Accounts in the upper navigation. You will see a list of your existing Investing Accounts. 
• To create a new account, click on + Add new Investing Account.
  
• You then need to:
  • Choose the account type
  • Provide the account name
  • Provide a taxpayer Identification Number (TIN)
    • This will either be an SSN or an EIN, if investing with an SD-IRA.
  
  

Provide the required information

Once you create an Investing Account, you need to fill out each section. 

Account Details

• Legal account name, account type, and the sub-type depending on the account type selected.
  • The Account Type selected will impact how you complete the remaining information as well as file taxes. 
• Taxpayer Identification Number (TIN)
  •  Enter your SSN, or valid employer identification number (EIN).
  • Those investing with an SD-IRA will need to enter their EIN.
• Account Mailing Address
  •  It is important that you keep this updated with your current address, as sponsors may use this to mail you tax documents, distribution checks and other investment information.
• Supporting  Documents

• • Used to upload additional documentation about your account, if required by the sponsor, including trust formation documents or LLC agreement and formation documents.
  • To know which documents you need to upload per account type, refer to this article: Supporting documents needed per Investing Account.

Account Members

• You should  click on your name and make sure all the information you entered is correct.
  • If this information is incorrect, you will need to update your contact information for your CrowdStreet profile.
• If additional individuals besides yourself participate in the investment process as co-investors, fiduciaries, advisors or proxies, the individuals can be added as either Investing Members or Supporting Members by clicking on Add Member.
  • What is an Investing Member?
    • An Investing Member gains equity ownership for investment made with the investing account, and may incur tax obligations. These individuals are required to complete and sign documents unless represented by a legal proxy. They will have access to the investment positions and receive emails and documents associated with the investment positions.
    • To add an investing member, you need to enter their email, first and last name. The additional investor member then needs to log into their own CrowdStreet account to complete the necessary profile information such as date of birth, social security number, and mailing address in order to invest.
  • What is a Supporting Member?
    • Supporting Members are not equity owners and generally will not be required to sign any documents or take any action during the offer process unless serving in a signatory role as a legal proxy for an Investing Member. However, they will have access to the investment positions and receive emails and documents associated with investment positions.
    • To add a Supporting Member, you need the same information as Investing Members: email, first and last name. 

Account Suitability

• For more information on account suitability questions, refer to this article: Investor Suitability Questions.

Accreditation

•  You are required to provide a valid letter of accreditation. More information can be found here: Accreditation overview.  This may be provided via one of two methods. Those two methods are:

1. Upload a valid verification certificate obtained from a CPA, lawyer, or wealth advisor certifying your accredited status. 
2. Utilize VerifyInvestor, a third-party service, to obtain a letter of accreditation free of charge for investors.

Account Mailing Address

• It is important that you keep this updated with your current address, as sponsors may use this to mail you tax documents, distribution checks and other investment information.

 Distribution Banking Information

• Select ACH or Wire to enter your bank account information where you wish to receive distribution payments.
• It is very important that this data remains up to date, as all sponsors use this data to send distributions to investors.

Updating an Investing Account

If you want to update an existing Investing Account:

1. Click Investing Accounts in the navigation.
2. Choose the Investing Account you would like to update.
3. Click on the appropriate section.
4. Make your updates.
5. Make sure to save!

SEC Investor Bulletin: Accredited Investors

Rule 501 of Regulation D: Definitions and terms