SEC Rule 501 of Regulation D defines accredited investors as follows

You must meet one of the following criteria:

• You have an individual income of more than $200,000 per year in each of the last two years and expect to maintain the same level of income in the current year.
• You and your spouse jointly have an income of $300,000 per year in each of the last two years and expect to maintain the same level of income in the current year.
• You have a net worth exceeding $1M, excluding your primary residence, either individually or jointly with your spouse.
• You invest on behalf of an entity with at least $5M in assets or a business in which all the equity owners are accredited investors.