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View ICR - OIRA Conclusion

OMB Control No: 3235-0765	ICR Reference No: 202305-3235-016
Status: Historical Active	Previous ICR Reference No: 202005-3235-015
Agency/Subagency: SEC	Agency Tracking No: IM-270-813
Title: Rule 498A Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/09/2024
	Date Received in OIRA: 12/06/2023
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2027	36 Months From Approved	01/31/2024
Responses	663	0	676
Time Burden (Hours)	7,634	0	14,688
Cost Burden (Dollars)	9,094,866	0	11,559,420

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	663	676	-13
Annual Time Burden (Hours)	7,634	14,688	-7,054
Annual Cost Burden (Dollars)	9,094,866	11,559,420	-2,464,554

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 estimated aggregate total hour burden for preparing and filing summary prospectuses decreased 7,054 hours, from 14,688 hours to 7,634 hours, and external costs decreased from $11,559,420 to $9,094,866. This decrease in burden hours and external costs is attributable primarily to the removal of one-time initial burden estimates for beginning to comply with rule 498A, a decrease in the number of respondents, and a smaller percentage than initially estimated of variable contracts that filed a summary prospectus under rule 498A.

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: Laura Powell 202 551-7709 powellla@sec.gov

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