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:
3235-0066
ICR Reference No:
202012-3235-019
Status:
Historical Inactive
Previous ICR Reference No:
201805-3235-028
Agency/Subagency:
SEC
Agency Tracking No:
CF 270-66
Title:
Form S-8-Securities Act Registration Statement
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Comment filed on proposed rule and continue
Conclusion Date:
03/22/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/31/2020
Terms of Clearance:
OMB approves the Department's request for emergency clearance of this ICR to facilitate the implementation of the "Safer Schools and Campuses Best Practices Clearinghouse" pursuant to EO 14000. Given ED's inability to seek public comment in advance of OMB approval, ED will include 60-day public comment language for the regular collection within the emergency notice. This will allow the public the full comment period for the regular collection as required by 5 CFR 1320.8(d).
Inventory as of this Action
Requested
Previously Approved
Expiration Date
07/31/2021
36 Months From Approved
09/30/2021
Responses
2,140
0
2,140
Time Burden (Hours)
28,890
0
28,890
Cost Burden (Dollars)
11,556,000
0
11,556,000
Abstract:
Form S-8 is the primary registration statement used by qualified registrants to register securities issued in connection with employee benefit plans.
Authorizing Statute(s):
US Code:
15 USC 77s(a), 77z-3
Name of Law: Securities Act of 1933
US Code:
15 USC 78c(b), 78l, 78m, 78o, 78w(a)
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 78mm
Name of Law: Securities Exchange Act of 1934
US Code:
15 USC 77c(b), 77f, 77g, 77h, 77j
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-AM38
Proposed rulemaking
85 FR 80232
12/11/2020
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
Form S-8-Securities Act Registration Statement
SEC 1398
Form S-8
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 proposed amendments to Form S-8 under the Securities Act of 1933 would reduce a registrant’s paperwork burden by conforming Form S-8 instructions to current IRS plan review practices and eliminating the requirement to describe the tax effects of plan participation on the registrant. For purposes of the PRA, we estimate that, for Form S-8, the proposed amendments would result in a reduction of 115 internal burden hours and a reduction in the cost burden of $46,000 for the services of outside professionals.
Annual Cost to Federal Government:
$103,479,690
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:
Lisa McCann 202 551-3305
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:
12/31/2020
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