Document ID: SEC-2018-0143-0002
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2022-01-13T05:00Z

[Federal Register Volume 87, Number 9 (Thursday, January 13, 2022)]
[Notices]
[Pages 2197-2198]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-00589]

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SECURITIES AND EXCHANGE COMMISSION

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

Proposed Collection; 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'') is soliciting comments on the 
collection of information summarized below. The Commission plans to 
submit this existing collection of information to the Office of 
Management and Budget (``OMB'') for extension and approval.
    Form N-CSR (17 CFR 249.331 and 274.128) is a combined reporting 
form

[[Page 2198]]

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 current total annual burden hour inventory for Form N-CSR is 
181,167 hours.\1\ 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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    \1\ 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:
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    \2\ 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).

                                           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 annual     Number of total     Hour burden per    Total annual hour
                                                        Number of funds         filings             filings         fund per filing         burden
                                                                    (A)                 (B)                   (C) = (A) x (B)   (D)             (E) = (C) x (D)
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Form N-CSR..........................................         \2\ 14,654                   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.\3\
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    \3\ 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 
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 information collection 
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.
    Written comments are invited on: (a) Whether the collection of 
information is necessary for the proper performance of the functions of 
the Commission, including whether the information has practical 
utility; (b) the accuracy of the Commission's estimate of the burden of 
the collection of information; (c) ways to enhance the quality, 
utility, and clarity of the information collected; and (d) ways to 
minimize the burden of the collection of information on respondents, 
including through the use of automated collection techniques or other 
forms of information technology. Consideration will be given to 
comments and suggestions submitted in writing within 60 days of this 
publication.
    Please direct your written comments to 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: 
[email protected].
    All submissions should refer to File Number 270-512. This file 
number should be included on the subject line if email is used. The 
Commission will post all comments on the Commission's internet website 
(http://www.sec.gov). All comments received will be posted without 
change; we do not edit personal identifying information from 
submissions. You should submit only information that you wish to make 
available publicly.

    Dated: January 10, 2022.
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2022-00589 Filed 1-12-22; 8:45 am]
BILLING CODE 8011-01-P