How to create or update an Investing Account

CREATING AN INVESTING ACCOUNT

  • Click on Investing Accounts in the upper navigation. You will see a list of your investing accounts. 
  • To create a new account, click on ‘+ Add new investing account’

  • You will 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

You will then be brought to the newly-created account’s page. You will need to fill out each section for this account.

Account Details

  • You will need to provide in this section:
    • Legal account name, account type, and the sub-type depending on the account type selected
      • The Account Type selected will impact how you will complete the remaining information as well as file taxes 
    • Taxpayer Identification Number (TIN)
      •  Please enter your valid employer identification number (EIN or SSN)
      • 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.

Account Members

  • You can click on your name and make sure all the information is correct.
    • If this information is incorrect, you will need to update your contact information for your CrowdStreet Account.
  • 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 full access to the investment positions and receive emails and documents associated with the investment positions.
      • To add an investing member, you will need to enter their email, first and last name. The additional investor member may then need to log into their CrowdStreet portal 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, will have full access to the investment positions and receive emails and documents associated with investment positions.
      • To add a Supporting Member, you will need the same information as Investing Members, email, first and last name. 
  • Note: it is in this section that you would add a photo ID if required by the sponsor. 

Accreditation

  • If the offering is a 506(c), you will be required to provide a valid letter of accreditation, per SEC regulations. More information can be found here.  This may be provided via one of two methods. 
  • Upload a valid verification certificate obtained from a CPA, lawyer, or wealth advisor certifying your accredited status. 
  • 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 and/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 would like to update an existing Investing Account:

  • Click ‘Investing Accounts’ in the navigation
  • Choose the Investing Account you would like to update
  • Click on the appropriate section
  • Make your updates
  • Make sure to save!

 

Note: The accreditation criteria may differ according to the investing entity type. Please review the SEC's requirements via the following resources: