View Information Collection Request (ICR) Package
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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:
201710-3235-008
Status:
Historical Active
Previous ICR Reference No:
201701-3235-011
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-048
Title:
Exchange Act Form 10-K
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:
12/19/2017
Retrieve Notice of Action (NOA)
Date Received in OIRA:
10/24/2017
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2020
36 Months From Approved
08/31/2020
Responses
8,137
0
8,137
Time Burden (Hours)
14,596,183
0
12,228,620
Cost Burden (Dollars)
1,946,859,390
0
1,631,470,000
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,(b), 78l, 78m, 78o(d)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78w(a), 78mm(a)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 77g, 77j, 77s(a), 77z-3
Name of Law: Securities Act of 1933
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 203 953(b) Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
PL: Pub.L. 112 - 106 102(a)(3) Name of Law: Jumpstart Our Business Startups Act
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL47
Final or interim final rulemaking
80 FR 50103
08/18/2015
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
Yes
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
8,137
8,137
0
0
0
0
Annual Time Burden (Hours)
14,596,183
12,228,620
2,367,563
0
0
0
Annual Cost Burden (Dollars)
1,946,859,390
1,631,470,000
315,389,390
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 assumes that substantially all of the burden relating to the new disclosure requirements will be associated with Form 10-K because registrants subject to the final rule satisfy the new requirements by either including the information directly in annual reports on Form 10-K or incorporating the information by reference from a proxy statement on Schedule 14A or information statement on Schedule 14C. Additionally, 100% of new registrants will use the transition provisions allowing them to omit the required disclosure from their initial registration statements and, for follow-on offerings by these registrants, the burden relating to the new disclosure requirements would be associated primarily with Form 10-K rather than Forms S-1, S-11, or N-2 as applicable (because registrants would incorporate the disclosure from Form 10-K). We estimate that, for Form 10-K, the regulation will result in approximately 2,367,563 new burden hours of in-house personnel time and approximately $315,389,390 in new costs for the services of outside professionals.
Annual Cost to Federal Government:
$150,000
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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:
John Fieldsend 202 551-3343
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:
10/23/2017
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