Rule 147A(f)(1)(iii) Written Representation as to Purchaser Residency

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
2017-02099.pdf	Supplementary Document	Uploaded 2017-02-06	Available
Supporting Statement for Rules 147 And 147A (01192017) (FINAL).pdf	Supporting Statement A	Uploaded 2017-01-19	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
225143	Rule 147A(f)(1)(iii) Written Representation as to Purchaser Residency		New

ICR Details

OMB Control No: 3235-0757	ICR Reference No: 201701-3235-006
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: SEC	Agency Tracking No: CF-270-806
Title: Rule 147A(f)(1)(iii) Written Representation as to Purchaser Residency
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/03/2017
	Date Received in OIRA: 02/01/2017
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2020	36 Months From Approved
Responses	700	0	0
Time Burden (Hours)	1,925	0	0
Cost Burden (Dollars)	70,000	0	0

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Abstract: Rule 147A is a new exemption from registration under Securities Act Section 28. To qualify for the exemption, Rule 147A(f)(1)(iii) (17 CFR 230.147A) will require the issuer to obtain from the purchaser a written representation as to the purchaser's residency.

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Authorizing Statute(s): US Code: 15 USC 77c(b)(1), 77s, 77z-3 Name of Law: Securities Act of 1933
   US Code: 15 USC 78l, 78m, 78o, 78w(a), 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 80a-37(a) Name of Law: Investment Company Act of 1940
   US Code: 15 USC 80b-11(a) Name of Law: Investment Advisers Act of 1940
  

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:
	81 FR 83494	11/21/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 8962	02/01/2017
Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Rule 147A(f)(1)(iii) Written Representation as to Purchaser Residency

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ICR Summary of Burden

table that charts list 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	700	0	0	700	0	0
Annual Time Burden (Hours)	1,925	0	0	1,925	0	0
Annual Cost Burden (Dollars)	70,000	0	0	70,000	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new collection of information. For purposes of the PRA, we estimate that the total annual paperwork burden for all affected issuers arising from the collection of information requirement in Rule 147A will be approximately 175 hours of issuer (company) personnel time and approximately $70,000 for the services of outside professionals. In addition, we estimate that the total annual paperwork burden for all affected purchasers arising from this collection of information requirement in Rule 147A will be approximately 1,750 hours of purchaser time and no cost incurred for the services of outside professionals.

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Annual Cost to Federal Government: $150,000

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: 02/01/2017

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