Rule 19b-1 (17 CFR 270.19b-1) under the Investment Company Act of 1940 - Frequency of Distribution of Capital Gains

Forms and Documents

Document	Type	Status	Availability
Rule 19b-1 SUPPORTING STATEMENT-2011.pdf	Supporting Statement A	Uploaded 2011-06-16	Available
Rule_19b-1_statute[1].docx	Supplementary Document	Uploaded 2011-06-16	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
34899	Rule 19b-1		Modified

ICR Details

OMB Control No: 3235-0354	ICR Reference No: 201106-3235-010
Status: Historical Active	Previous ICR Reference No: 200805-3235-008
Agency/Subagency: SEC	Agency Tracking No: IM-270-312
Title: Rule 19b-1 (17 CFR 270.19b-1) under the Investment Company Act of 1940 - Frequency of Distribution of Capital Gains
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: 07/26/2011
Retrieve Notice of Action (NOA)	Date Received in OIRA: 06/16/2011
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2014	36 Months From Approved	10/31/2011
Responses	3,765	0	6,035
Time Burden (Hours)	30	0	20
Cost Burden (Dollars)	211,950	0	326,500

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Abstract: Rule 19b-1 permits registered investment companies to distribute capital gains more than one time per year provided certain conditions are met.

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Authorizing Statute(s): US Code: 15 USC 80a-19 Name of Law: Investment Company Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 15004	03/18/2011
30-day Notice:	Federal Register Citation:	Citation Date:
	76 FR 28821	05/18/2011
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Rule 19b-1

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	3,765	6,035	0	0	-2,270	0
Annual Time Burden (Hours)	30	20	0	0	10	0
Annual Cost Burden (Dollars)	211,950	326,500	0	0	-114,550	0

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 time burden associated with rule 19b-1 has increased from the current allocation of 20 hours to 30 hours, an increase of 10 hours. This increase in the hour burden is due to an increase in the number of funds filing applications for exemptive orders (from 5 to 6 per year), and a slight increase in the staff's estimate of hours required to prepare an exemptive application (from 4 to 5). The estimated cost burden of $326,500 has decreased to $211,950, a reduction of $114,550. The decrease in the cost burden is largely due to a decrease in the estimated total number of respondents to the rule from 6035 (6030 UITs plus 5 funds filing an application under rule 19b-1(e)) to 3765 (3759 UITs plus 6 funds filing an application under rule 19b-1(e)). The cost burden has also been adjusted to reflect the staffs' updated estimates of hourly salary rates and cost of preparation of applications.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 06/16/2011

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