View Information Collection Request (ICR) Package

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View ICR - OIRA Conclusion

OMB Control No: 3084-0142	ICR Reference No: 201112-3084-013
Status: Historical Active	Previous ICR Reference No: 201112-3084-001
Agency/Subagency: FTC	Agency Tracking No:
Title: Disclosure Requirements Concerning Business Opportunities
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/02/2012
	Date Received in OIRA: 12/13/2011
Terms of Clearance: The approval for this information collection will go into effect March 1, 2012; with the current requirements still being in effect until Feb 29, 2012.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2015	36 Months From Approved	03/31/2012
Responses	3,163,773	0	250,000
Time Burden (Hours)	10,533	0	16,750
Cost Burden (Dollars)	3,068,843	0	3,887,500

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	3,163,773	250,000	-250,000	3,163,773
Annual Time Burden (Hours)	10,533	16,750	-16,750	10,533
Annual Cost Burden (Dollars)	3,068,843	3,887,500	-3,887,500	3,068,843

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: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: The final rule amendments streamline the required disclosures (from over twenty to five) in the disclosure document that business opportunity sellers give to prospective buyers, permit business opportunity sellers to comply with the Rule using existing materials, and permit the use of electronic signatures and electronic recordkeeping. The amendments expand the Rule's coverage to encompass work-at-home opportunity sellers. The amendments add the requirement that sellers must provide the disclosure document and other required disclosures to potential purchasers in the same language the seller uses to market the business opportunity.

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