H.R. 3645 — ACCESS Act of 2025

This section amends requirements under Section 4A of the Securities Act of 1933 for securities offerings exempt from registration under the Regulation Crowdfunding exemption (Section 4(a)(6)) by (1) increasing the offering amount threshold requiring financial statements reviewed by an independent public accountant to $250,000 (from $100,000) in two specified instances, and (2) authorizing the SEC to further increase that threshold to $400,000 upon recommendation of the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate. (Thus, issuers conducting crowdfunding offerings between $100,001 and $250,000 may provide only financial statements certified by the principal executive officer instead of accountant-reviewed statements.) The section also makes technical corrections to conform statutory cross-references to Section 4(a)(6).