Subject: File No. S7-06-13
From: Joseph Beninato
Affiliation: Investor

February 3, 2014

I am an angel investor in Silicon Valley and a supporter of AngelList. I was recently notified by them that my accreditation was expiring, just 3 months after I went through the hassle of having my investment manager contact them to prove my net worth was greater than $1 million. It probably cost them 30 minutes of time to send the appropriate forms, and to do that every 3 months is ridiculous. W2 income can vary greatly from year to year, so it's not always possible to prove $200k/300k of income each year.

Perhaps you can consider an alternative where if someone has a net worth above $3 million or some other number, they only need to show evidence once per year vs. every 90 days. That would help a great deal.

Thank you for considering.

Joe Beninato