Investment Company Act rule 22c-2, 17 CFR 270.22c-2 Mutual Fund Redemption Fees

ICR 201201-3235-003

OMB: 3235-0620

Federal Form Document

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Supporting Statement A
Supplementary Document
IC Document Collections
ICR Details
3235-0620 201201-3235-003
Historical Active 200809-3235-020
SEC IM-270-541
Investment Company Act rule 22c-2, 17 CFR 270.22c-2 Mutual Fund Redemption Fees
Extension without change of a currently approved collection   No
Approved without change 04/04/2012
Retrieve Notice of Action (NOA) 01/26/2012
  Inventory as of this Action Requested Previously Approved
04/30/2015 36 Months From Approved 05/31/2012
285,766 0 290,140
25,661 0 26,413
32,767,000 0 31,440,000

Rule 22c-2 requires the board of directors (including a majority of independent directors) of most registered investment companies ("funds") to either approve a redemption fee of up to two percent or determine that imposition of a redemption fee is not necessary or appropriate for the fund. Rule 22c-2 also requires a fund to enter into written agreements with their financial intermediaries (such as broker-dealers and retirement plan administrators) under which the fund, upon request, can obtain certain shareholder identity and trading information from the intermediaries.

US Code: 15 USC 80a Name of Law: Investment Company Act of 1940

Not associated with rulemaking

  76 FR 70517 11/14/2011
77 FR 2573 01/18/2012

IC Title Form No. Form Name
Investment Company Act rule 22c-2

  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 285,766 290,140 0 0 -4,374 0
Annual Time Burden (Hours) 25,661 26,413 0 0 -752 0
Annual Cost Burden (Dollars) 32,767,000 31,440,000 0 0 1,327,000 0
There has been a slight decrease in the estimates of burden hours for rule 22c-2. The decrease primarily results from a reduction in the number of fund groups operating and minor changes to the estimated number of intermediaries that existing fund groups enter into agreements with each year. Accordingly, the estimated annual time burden has decreased to 25,661 from a previously estimated 26,413 hours, a decrease of 752 hours. There has been a slight increase in the cost burden associated with rule 22c-2. This increase is primarily due to the staff increasing the estimated number of new fund groups that form each year and which therefore must develop information sharing systems. As a result, the estimated cost burden has increased to $32,767,000 from $31,440,000, an increase of $1,327,000.

Thoreau Bartmann 202 551-6792 [email protected]


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:
    (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;
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.

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