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View ICR - OIRA Conclusion

OMB Control No: 3235-0765	ICR Reference No: 202407-3235-022
Status: Active	Previous ICR Reference No: 202305-3235-016
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: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 09/13/2024
	Date Received in OIRA: 07/29/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2027	36 Months From Approved	01/31/2027
Responses	698	0	663
Time Burden (Hours)	10,803	0	7,634
Cost Burden (Dollars)	9,727,566	0	9,094,866

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	698	663	35
Annual Time Burden (Hours)	10,803	7,634	3,169
Annual Cost Burden (Dollars)	9,727,566	9,094,866	632,700

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 aggregate total hour burden for preparing and filing summary prospectuses increased 3,169 hours, from 7,634 hours to 10,803 hours, and external costs increased from $9,094,866 to $9,727,566. This increase in burden hours and external costs is attributable primarily to an increase in the number of respondents and the effects of inflation. These changes in burden also reflect the Commission’s revision and update of burden estimates for all information collections under this OMB control number (whether or not associated with rulemaking changes), and the Commission requested public comment on all information collection burden estimates for this OMB control number.

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: Gregory Scopino 202 551-3057

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