ACCESS Act of 2025

The ACCESS Act of 2025 would change how the crowdfunding exemption (Regulation Crowdfunding) under the Securities Act of 1933 is administered by raising the dollar threshold at which issuers must file financial statements that have been reviewed by an independent public accountant. Specifically, the bill increases the threshold from $100,000 to $250,000 (for offerings that trigger the review requirement). It also authorizes the SEC, upon the recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate, to raise that amount further up to $400,000. In addition, the bill makes minor technical corrections to cross-references in the statute and gives the act its short title, the Amendment for Crowdfunding Capital Enhancement and Small-business Support Act of 2025 (also called the ACCESS Act of 2025). The sponsor is Mr. Meuser and several co-sponsors; the bill was introduced in the 119th Congress and was reported with an amendment. In short, the bill eases some financial statement burdens on smaller crowdinvesting offerings by allowing more to proceed with only a reviewed (not audited) set of financials, while preserving an “independent accountant” review and keeping SEC oversight and flexibility for future adjustments.