Natural Person (Income Test): An individual with an income exceeding $200,000 in each of the two most recent years (or $300,000 together with a spouse or spousal equivalent) and who reasonably expects the same income level in the current year.
Natural Person (Net Worth Test): An individual with a net worth exceeding $1 million, either alone or together with a spouse or spousal equivalent (excluding the value of the individual's primary residence).
Licensed Professionals: An individual holding in good standing a Series 7, 65, or 82 license.
Entities: Certain entities such as banks, insurance companies, registered investment companies, business development companies, certain trusts, corporations, partnerships, or LLCs with assets exceeding $5 million, or any entity in which all of the equity owners are accredited investors.
Note: Other categories may apply. Please refer to Rule 501(a) for the complete definition.