Comparing Crowdfunding Exemptions

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This excel sheet compares JOBS Act exemptions

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Title III506(b506(cReg A+ Tier IReg A+ Tier II

Maximum Raise $1 millionNo capNo cap$20 million$50 million

Unaccredited InvestorsYes*Up to 35NoYes*Yes*

AccreditationSelfSelfVerificationSelfSelf

Online Platform YesNoYesYesYes

SEC RegistrationForm DForm DForm DAll FormsAll Forms

Blue Sky RegistrationNoYesVariesYesNo

Financial ReportsYesNoNoNoYes

General SolicitationYesNoYesYesYes

SEC Review 21 daysNoneNoneOne monthOne month

Legal/administration$5,000 to $20,000$17,500 to $30,000$17,500 to $30,000$40,000 to $70,000 $60,000 to $100,000

*Up to 10% of net worth or annual income

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