Document ID: SEC-2018-1696-0001
Agency: sec
Document Type: Notice
Title: Agency Information Collection Activities; Proposals, Submissions, and Approvals
Posted Date: 2018-11-02T04:00Z

[Federal Register Volume 83, Number 213 (Friday, November 2, 2018)]
[Notices]
[Page 55224]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-23957]

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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-282, OMB Control No. 3235-0318]

Proposed Collection; Comment Request

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

Extension:
    Form N-4

    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 for extension and approval.
    The collection of information is entitled: ``Form N-4 (17 CFR 
239.17b) under the Securities Act of 1933 and (17 CFR 274.11c) under 
the Investment Company Act of 1940, registration statement of separate 
accounts organized as unit investment trust.'' Form N-4 is the form 
used by insurance company separate accounts organized as unit 
investment trusts that offer variable annuity contracts to register as 
investment companies under the Investment Company Act of 1940 (15 
U.S.C. 80a-1 et seq.) and/or to register their securities under the 
Securities Act of 1933 (15 U.S.C. 77a et seq.). Section 5 of the 
Securities Act (15 U.S.C. 77e) requires the filing of a registration 
statement prior to the offer of securities to the public and that the 
registration statement be effective before any securities are sold, and 
Section 8 of the Investment Company Act (15 U.S.C. 80a-8) provides for 
the registration of investment companies. Pursuant to Form N-4, 
separate accounts organized as unit investment trusts that offer 
variable annuity contracts provide investors with a prospectus and a 
statement of additional information covering essential information 
about a separate account. Section 5(b) of the Securities Act requires 
that investors be provided with a prospectus containing the information 
required in a registration statement prior to or at the time of sale or 
delivery of securities.
    The purpose of Form N-4 is to meet the filing and disclosure 
requirements of the Securities Act and the Investment Company Act and 
to enable filers to provide investors with information necessary to 
evaluate an investment in a security. The information required to be 
filed with the Commission permits verification of compliance with 
securities law requirements and assures the public availability and 
dissemination of the information.
    The estimated annual number of filings on Form N-4 is 35 initial 
registration statements and 1,326 post-effective amendments. The 
estimated average number of portfolios per filing is one, both for 
initial registration statements and post-effective amendments on Form 
N-4. Accordingly, the estimated number of portfolios referenced in 
initial Form N-4 filings annually is 35 and the estimated number of 
portfolios referenced in post-effective amendment filings on Form N-4 
annually is 1,326. The estimate of the annual hour burden for Form N-4 
is approximately 278.5 hours per initial registration statement and 
197.25 hours per post-effective amendment, for a total of 271,301 hours 
((35 initial registration statements x 278.5 hours) + (1,326 post-
effective amendments x 197.25 hours)).
    The current estimated annual cost burden for preparing an initial 
Form N-4 filing is $24,858 per portfolio and the current estimated 
annual cost burden for preparing a post-effective amendment filing on 
Form N-4 is $23,561 per portfolio. The Commission estimates that, on an 
annual basis, 35 portfolios will be referenced in initial Form N-4 
filings and 1,326 portfolios will be referenced in post-effective 
amendment filings on Form N-4. Thus, the estimated total annual cost 
burden allocated to Form N 4 would be $32,111,916 ((35 x $24,858) + 
(1,326 x $23,561)).
    Providing the information required by Form N-4 is mandatory. 
Responses will not be kept confidential. Estimates of average burden 
hours are made solely for the purposes of the Paperwork Reduction Act, 
and are not derived from a comprehensive or even a representative 
survey or study of the costs of Commission rules and forms. 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 
control number.
    Written comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the agency, including whether the information will 
have practical utility; (b) the accuracy of the agency'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 Charles Riddle, Acting 
Director/Chief Information Officer, Securities and Exchange Commission, 
C/O Candace Kenner, 100 F Street NE, Washington, DC 20549; or send an 
email to: [email protected].

    Dated: October 29, 2018.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-23957 Filed 11-1-18; 8:45 am]
BILLING CODE 8011-01-P