Rules current as of Nov 2026
Raise from the people who already believe in you.
Regulation Crowdfunding lets U.S. companies raise up to $5 million a year from customers, fans, and everyday investors. We explain how it works — clearly enough for founders to decide, and investors to understand what they're buying.
Free, 9 questions, about 3 minutes.
Size your raise
Drag to see what changes- Financial statements
- Reviewed
- Typical accounting cost
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- Platform fees (typ. 5–10%)
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- Rough net to company
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Two sides of every raise
A crowdfunding round only works when founders disclose honestly and investors understand the risk. We write for both.
For founders
- Whether Reg CF fits your stage, sector, and audience
- What a raise really costs, from CPA review to platform fees
- How to choose between funding portals
- Testing the waters before you file
For investors
- How much you're allowed to invest each year
- How to read a Form C and spot red flags
- SAFEs, convertible notes, and equity — what you actually own
- Why you should plan to hold for years
How a Reg CF raise works
From first conversation to closing, most raises take four to six months.
Weeks 1–4
Test the waters
Gauge interest publicly before filing anything, and collect non-binding reservations.
Weeks 2–8
Prepare
Pick a platform, get financial statements reviewed or audited, set your terms.
Weeks 6–10
File Form C
Your offering statement goes to the SEC on EDGAR and live on your platform.
21+ days
Run the campaign
Investors commit through the portal. They can cancel up to 48 hours before close.
Ongoing
Close and report
Funds release once you hit your target. File an annual report each year after.
The rules on one page
Current as of November 2026. The SEC is discussing raising the cap to $20M, but nothing has changed yet.
| Maximum raise | $5,000,000 per company in any 12 months |
| Who can invest | Anyone 18+, accredited or not |
| Investor limits | Non-accredited: $2,500 to $124,000 a year across all Reg CF deals, based on income and net worth. Accredited: no limit. |
| Where it happens | Only on an SEC-registered funding portal or broker-dealer |
| Disclosure | Form C filed with the SEC, plus a Form C-AR annual report afterward |
| Resale | Shares generally can't be resold for one year |
Get the Reg CF Brief
One email a month: rule changes, notable raises, and a plain-English explainer. For founders and investors.
Start learning
What is Regulation Crowdfunding?
The rule that opened startup investing to everyone, and how it actually works.
InvestorsHow to read a Form C
The ten minutes of reading that separate investing from gambling.
FoundersWhat a Reg CF raise really costs
Every line item, from CPA review to marketing spend.
It's been done before
From a $25K neighborhood raise to a Nasdaq listing: businesses that raised from their own customers.
Thinking about raising?
Answer nine questions and get a readiness score, the gaps to close, and a shortlist of platforms that fit your company.