# What do I need to include in my Financial Statements?

> The SEC requires companies to include     Balance Sheet    Income Statement    Statement of Cash Flow    Statement in Changes of Equity    Notes to the Fina

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Last updated: 2025-06-06T22:25:55.656Z

The SEC requires companies to include:

*   Balance Sheet
*   Income Statement
*   Statement of Cash Flow
*   Statement of Changes in Equity
*   Notes to the Financial Statements 

Financial statements must cover the two most recently completed fiscal years (or since inception, if shorter), follow U.S. GAAP, and be labeled “unaudited” if applicable. If audited financials are required, the audit must follow GAAS or PCAOB standards, include a signed report, and the auditor must be informed that it will be used in the offering. Audits with qualified, adverse, or disclaimed opinions do not meet the requirement.

  

**Financial Statement Requirements by Offering Amount Under Regulation Crowdfunding** 

$124,000 or less

From $124,000 up to $618,000

From $618,000 up to $1,235,000

From $1,235,000 up to $5,000,000  

Financial statements must be **certified by the principal executive officer** and accompanied by tax return line items, including total income, taxable income, and total tax, from the most recently completed year, if available. If reviewed or audited financials are available, they **must be used instead**, and the certification and tax return data are not required.  

Financial statements must be **reviewed** by a public accountant that is independent of the issuer and must include a signed review report. If audited financials are available, they **must** be provided instead, and the reviewed statements are not required.

If the company has **not** previously used Regulation Crowdfunding, reviewed financial statements with a signed review report are required. If audited statements are available, they **must** be used instead.

  

Financial statements **must** be audited by a public accountant that is independent of the issuer and must include a signed audit report.  

 

 

If the company **has** previously used Regulation Crowdfunding:

If the company **has** previously used Regulation Crowdfunding and is offering more than $618,000, audited financial statements with a signed audit report are **required**, regardless of whether reviewed statements are available.