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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:
3235-0642
ICR Reference No:
202008-3235-007
Status:
Historical Active
Previous ICR Reference No:
202005-3235-014
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-580
Title:
Registered Investment Company Interactive Data
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:
11/09/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/20/2020
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
11/30/2023
36 Months From Approved
10/31/2021
Responses
19,817
0
17,234
Time Burden (Hours)
252,602
0
206,943
Cost Burden (Dollars)
15,350,750
0
10,614,447
Abstract:
Open-end management investment companies (“funds”) are required to submit to the Commission information included in their registration statements, or information included in or amended by post-effective amendments thereto, in interactive data format. On April 8, 2020, the Commission adopted rules modifying the registration, communications, and offering processes for business development companies and other closed-end investment companies under the Securities Act of 1933. In particular, the Commission amended Form N‑2 and Regulation S‑T to require certain new structured data reporting requirements for registered closed-end investment companies and business development companies.
Authorizing Statute(s):
US Code:
15 USC 80a-1 et seq.
Name of Law: Investment Company Act of 1940
US Code:
15 USC 77a et seq
Name of Law: Securities Act of 1933
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AM31
Final or interim final rulemaking
85 FR 33290
06/01/2020
Federal Register Notices & Comments
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
Registered Investment Company Interactive Data
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
19,817
17,234
0
2,583
0
0
Annual Time Burden (Hours)
252,602
206,943
0
45,659
0
0
Annual Cost Burden (Dollars)
15,350,750
10,614,447
0
4,736,303
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The estimated hourly burden associated with the Investment Company Interactive Data collection of information would increase from 206,943 hours to 252,602 hours (an increase of 45,659 hours). In addition, the cost burden associated with the Investment Company Interactive Data collection of information would increase from about $10.6 million to about $15.35 million (an increase of about $4.75 million). The increase in hourly burdens is due to an increase in the number of registrants that would be required to use Inline XBRL format to tag certain disclosures, and an increase in the number of filings to be tagged.
Annual Cost to Federal Government:
$21,200,000
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]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
No
Agency Contact:
Joel Cavanaugh 202 551-3173
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:
08/20/2020
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