[Federal Register Volume 87, Number 52 (Thursday, March 17, 2022)]
[Notices]
[Pages 15282-15283]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05679]


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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-512, OMB Control No. 3235-0570]


Submission for OMB Review; Comment Request; Extension: Form N-CSR

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 
20549-2736

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    Form N-CSR (17 CFR 249.331 and 274.128) is a combined reporting 
form used by registered management investment companies (``funds'') to 
file certified shareholder reports under the Investment Company Act of 
1940 (15 U.S.C. 80a-1 et seq.) (``Investment Company Act'') and the 
Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) (``Exchange 
Act''). Specifically, Form N-CSR is to be used for reports under 
section 30(b)(2) of the Investment Company Act (15 U.S.C. 80a-29(b)(2)) 
and section 13(a) or 15(d) of the Exchange Act (15 U.S.C. 78m(a) and 
78o(d)), filed pursuant to rule 30b2-1(a) under the Investment Company 
Act (17 CFR 270.30b2-1(a)). Reports on Form N-CSR are to be filed with 
the Securities and Exchange Commission (``Commission'') no later than 
10 days after the transmission to stockholders of any report that is 
required to be transmitted to stockholders under rule 30e-1 under the 
Investment Company Act (17 CFR 270.30e-1). The information filed with 
the Commission permits the verification of compliance with securities 
law requirements and assures the public availability and dissemination 
of the information.
    The following estimates of average burden hours and costs are made 
solely for purposes of the Paperwork Reduction Act of 1995 \1\ and are 
not derived from a comprehensive or even representative survey or study 
of the cost of Commission rules and forms. Compliance with Form N-CSR 
is mandatory. Responses to the collection of information will not be 
kept confidential.
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    \1\ 44 U.S.C. 3501 et seq.
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    The current total annual burden hour inventory for Form N-CSR is 
181,167 hours.\2\ The hour burden estimates for preparing and filing 
reports on Form N-CSR are based on the Commission's experience with the 
contents of the form. The number of burden hours may vary depending on, 
among other things, the complexity of the filing and whether 
preparation of the reports is performed by internal staff or outside 
counsel.
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    \2\ This estimate is based on the following calculation: 179,443 
(previous burden estimate) + 1,724.5 (additional internal burden) = 
181,167.5 hours.
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    The Commission's new estimate of burden hours that will be imposed 
by Form N-CSR is as follows:

[[Page 15283]]



                                           Table 1--Summary of Revised Burden Hours for Reports on Form N-CSR
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                                                                                     Funds and filings                     Annual time burden (hours)
                                                                    ------------------------------------------------------------------------------------
                                                                                         Number of     Number of total  Hour burden per    Total annual
                                                                     Number of funds   annual filings      filings      fund per filing    hour burden
                                                                                (A)              (B)                (C) = (A) x (B)(D)          (E) = (C) x (D)
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Form N-CSR.........................................................      14,654 \3\                2           29,308             7.75          227,137
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    In total, the Commission estimates it will take 227,137 burden 
hours per year for all funds to prepare and file reports on Form N-CSR. 
Commission staff estimates that the annual cost of outside services 
associated with Form N-CSR is approximately $203 per fund and the total 
annual external cost burden for Form N-CSR is $5,949,524.\4\
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    \3\ This estimate is based on the number of registered 
management companies as calculated by the filing type: 1,403 N-1A 
registrants (13,248 funds); 693 N-2 registrants (691 funds); 5 N-3 
registrants (14 funds); 417 N-4 registrants (418 funds); 235 N-6 
registrants (236 funds); 47 N-8B-2 registrants (47 funds).
    \4\ This estimate is based on the following calculation: 14,654 
funds x $203 per filing x 2 filings per year = $5,949,524.
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    Estimates of average burden hours and costs are made solely for the 
purposes of the Paperwork Reduction Act, and are not derived from a 
comprehensive or even representative survey or study of the costs of 
Commission rules and forms. Compliance with the collection of 
information requirements of Form N-CSR is mandatory. Responses to the 
collection of information will not be kept confidential. An agency may 
not conduct or sponsor, and a person is not required to respond to a 
collection of information unless it displays a currently valid OMB 
control number.
    The public may view the background documentation for this 
information collection at the following website, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: 
<a href="/cdn-cgi/l/email-protection#b6fadfd8d2c5d7cf98fb98f7d4d7c2d3f6d9dbd498d3d9c698d1d9c0"><span class="__cf_email__" data-cfemail="e8a481868c9b8991c6a5c6a98a899c8da887858ac68d8798c68f879e">[email protected]</span></a>; and (ii) David Bottom, Director/Chief 
Information Officer, Securities and Exchange Commission, c/o John R. 
Pezzullo 100 F Street NE, Washington, DC 20549 or send an email to: 
<a href="/cdn-cgi/l/email-protection#a9f9fbe8f6e4c8c0c5cbc6d1e9daccca87cec6df"><span class="__cf_email__" data-cfemail="ce9e9c8f9183afa7a2aca1b68ebdabade0a9a1b8">[email protected]</span></a>. Written comments and recommendations for the 
proposed information collection should be sent within 30 days of 
publication of this notice April 18, 2022 to www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting 
``Currently under 30-day Review--Open for Public Comments'' or by using 
the search function.

    Dated: March 14, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-05679 Filed 3-16-22; 8:45 am]
BILLING CODE 8011-01-P


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