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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3235-0063
ICR Reference No:
201104-3235-016
Status:
Historical Active
Previous ICR Reference No:
201002-3235-004
Agency/Subagency:
SEC
Agency Tracking No:
CF-270-48
Title:
Exchange Act Form 10-K
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
05/23/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/19/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
05/31/2014
36 Months From Approved
04/30/2013
Responses
13,545
0
13,545
Time Burden (Hours)
21,361,898
0
21,363,548
Cost Burden (Dollars)
2,848,253,000
0
2,848,473,000
Abstract:
Form 10-K is filed by issuers of securities to satisfy their annual report obligations pursuant to Sections 13 and 15(d) of the Exchange Act.
Authorizing Statute(s):
US Code:
15 USC 78c, 78l, 78m, 78o, 78w
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 7202;78u, 7262
Name of Law: Sarbanes-Oxley Act of 2002
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 989G Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
75 FR 63869
10/18/2010
30-day Notice:
Federal Register Citation:
Citation Date:
76 FR 21931
04/19/2011
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
Exchange Act Form 10-K
SEC 1673
Form 10-K
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
13,545
13,545
0
0
0
0
Annual Time Burden (Hours)
21,361,898
21,363,548
-1,650
0
0
0
Annual Cost Burden (Dollars)
2,848,253,000
2,848,473,000
-220,000
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The Commission had previously estimated the burden of complying with Section 404(b) of the Sarbanes-Oxley Act assuming that all filers of Form 10-K would file an auditor's attestation report. The filers that were included in the estimate but are no longer subject to the 404(b) requirement are sometimes referred to as "non-accelerated filers." We estimate that approximately 4,400 non-accelerated filers file Form 10-K annually. The current burden estimates for Form 10-K attribute 0.5 burden hours per issuer for filing the auditor attestation report, including the burden attributed to the related disclosure in the annual report, and do not include any burden attributed to the audit work. Consistent with the burden estimates for Form 10-K, that estimate is then split 75% and 25% between internal staff and external professionals for Form 10-K. The estimate assumes an hourly rate of $400 for external professionals. Accordingly, we are reducing the aggregate burden estimate by 1,650 hours of internal staff time and $220,000 for external professional services.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Annemarie Ettinger 202 551-5320
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
04/19/2011
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