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OMB Control No: 3235-0158	ICR Reference No: 202202-3235-010
Status: Historical Active	Previous ICR Reference No: 201904-3235-003
Agency/Subagency: SEC	Agency Tracking No: IM-270-132
Title: Rule 20a-1 under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations
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: 04/11/2022
	Date Received in OIRA: 02/09/2022
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2025	36 Months From Approved	10/31/2022
Responses	1,333	0	1,333
Time Burden (Hours)	113,472	0	113,305
Cost Burden (Dollars)	40,012,200	0	39,990,000

Abstract: Rule 20a-1 requires that the solicitation of a proxy, consent, or authorization with respect to a security issued by a fund be impliance with Regulation 14A (17 CFR 240.14a-1 et seq.), Schedule 14A (17 CFR 240.14a-101), and all other rules and regulations adopted pursuant to section 14(a) of the Securities Exchange Act of 1934 (“1934 Act”) (15 U.S.C. 78n(a)).

Authorizing Statute(s): US Code: 15 USC 80a-20(a) Name of Law: Investment Company Act of 1940

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL84	Final or interim final rulemaking	86 FR 68330	12/01/2021

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
Rule 20a-1 Under the Investment Company Act of 1940, Solicitation of Proxies, Consents and Authorizations

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	1,333	1,333	0
Annual Time Burden (Hours)	113,472	113,305	167
Annual Cost Burden (Dollars)	40,012,200	39,990,000	22,200

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 Securities and Exchange Commission adopted amendments in Release No. 34-93596 to the proxy rules relating to all director elections to: specify that the proxy card must include an “against” voting option when applicable state law gives effect to a vote “against”; require proxy cards to give shareholders the ability to “abstain” in an election where a majority voting standard is in effect; and mandate disclosure about the effect of a “withhold” vote in an election. These amendments will apply to all director elections, including director elections for registered investment companies and business development companies. The disclosure and changes to the proxy cards will require registrants to clarify existing standards, and many of the descriptions and standards, once revised, are not likely to require significant revision from year to year. We anticipate that the amendments to rule 20a-1 will result in a small increase in the required disclosure and related burdens and costs for registrants to prepare and review the collections of information. For purposes of the Paperwork Reduction Act of 1995, we estimate that the amendments to rule 20a-1 under the Investment Company Act of 1940 will result in a net increase of 166.5 burden hours for internal time and a net increase in the cost burden of $22,200 for the services of outside professionals.

Annual Cost to Federal Government:

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: Pamela Ellis 202 551-3506

View ICR - OIRA Conclusion