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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:
202202-3235-031
Status:
Historical Active
Previous ICR Reference No:
202008-3235-007
Agency/Subagency:
SEC
Agency Tracking No:
IM-270-580
Title:
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:
04/27/2022
Retrieve Notice of Action (NOA)
Date Received in OIRA:
03/08/2022
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
04/30/2025
36 Months From Approved
11/30/2023
Responses
19,817
0
19,817
Time Burden (Hours)
252,684
0
252,602
Cost Burden (Dollars)
15,449,450
0
15,350,750
Abstract:
Certain registered investment companies and business development companies ("BDCs") are required to submit to the Commission in Inline XBRL format certain information that is disclosed in their registration statements, post-effective amendments thereto, prospectuses filed pursuant to Rule 424(b) and Rule 497(c) or (e) under the Securities Act, and Exchange Act reports that are incorporated by reference into a registration statement, and, for BDCs, their financial statements, pursuant to specified form and rule requirements . On October 13, 2021, the Commission adopted rules modifying most fee-bearing forms, schedules, statements, and related rules to require all fee calculation disclosure information in a filing fee exhibit that will be structured in Inline XBRL. In particular, amended Forms N‑2 and N-14 and new Rule 408 of Regulation S‑T will require (non-interval) registered closed-end investment companies and BDCs to tag their filing fee exhibits in Inline XBRL.
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
US Code:
15 USC 77a
Name of Law: Securities Exchange of 1934
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3235-AL96
Final or interim final rulemaking
86 FR 70166
12/09/2021
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
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
19,817
0
0
0
0
Annual Time Burden (Hours)
252,684
252,602
0
82
0
0
Annual Cost Burden (Dollars)
15,449,450
15,350,750
0
98,700
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 rule amendments will modernize filing fee disclosure and payment methods. The amendments will revise most fee-bearing forms, schedules, statements, and related rules to require each filing fee table and accompanying disclosure to include all required information for fee calculation in a structured format using Inline XBRL. The amendments also will add options for fee payment via ACH and debit and credit cards and eliminate options for fee payment via paper checks and money orders. Finally, the amendments also will make other fee-related revisions. The Commission anticipates that the amendments will, in the aggregate, increase the burdens and costs on affected entities due to changes in fee calculation disclosure requirements and the new requirement to structure fee-related information. For purposes of the PRA, the Commission estimates that, the amendments will result in an increase of 82 internal burden hours, and an increase of $98,700 in external costs for the services of outside professionals to comply with the requirement to tag the filing fee exhibits for Forms N-2 and N-14 in Inline XBRL. In the aggregate, we estimate that investment company filers will spend approximately 252,684 total burden hours, and $15,449,450 in total external costs for the services of outside professionals to comply with the Inline XBRL tagging requirements associated with the disclosure forms. These figures reflect the Commission’s revision and update of burden estimates for the PRA for Investment Company Interactive Data, including the new burdens associated with the rulemaking changes.
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:
Amy Miller 202 551-4447
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:
03/08/2022
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