Form 1-SA

Forms and Documents

Document Name	Status
Form SEC 2914 Form 1-SA Form and Instruction	Modified
OMB Supporting Statement DUSTR Proposal (10-04-18).pdf Supporting Statement A	2018-10-26
January 2016 EDGAR PIA.pdf Supplementary Document	2018-10-26

IC Document Collections

IC ID	Document Title	Status
212628	Form 1-SA Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0721	ICR Reference No: 201810-3235-034
Status: Historical Inactive	Previous ICR Reference No: 201806-3235-020
Agency/Subagency: SEC	Agency Tracking No: CF 270-661
Title: Form 1-SA
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Comment filed on proposed rule and continue	Conclusion Date: 02/05/2019
	Date Received in OIRA: 11/01/2018
Terms of Clearance: OMB files this comment in accordance with 5 CFR 1320.11( c ). This OMB action is not an approval to conduct or sponsor an information collection under the Paperwork Reduction Act of 1995. This action has no effect on any current approvals. If OMB has assigned this ICR a new OMB Control Number, the OMB Control Number will not appear in the active inventory. For future submissions of this information collection, reference the OMB Control Number provided. Pursuant to 5 CFR 1320.11(c), OMB files this comment on this information collection request (ICR). The agency shall examine public comment in response to the NPRM and will describe in the supporting statement of its next collection any public comments received regarding the collection as well as why (or why it did not) incorporate the commenter’s recommendation. The next submission to OMB must include the draft final rule.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2021	36 Months From Approved	10/31/2021
Responses	55	0	55
Time Burden (Hours)	8,763	0	8,763
Cost Burden (Dollars)	618,420	0	618,420

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Abstract: Form 1-SA is used to file semiannual reports by Tier 2 issuers under Regulation A, an exemption from registration under the Securities Act of 1933.

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Authorizing Statute(s): US Code: 15 USC 78mm Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 77g, 77j, 77s(a), 77z-3 Name of Law: Securities Act of 1933
   PL: Pub.L. 114 - 94 72002(2) Name of Law: Fixing America's Surface Transportation Act
   US Code: 15 USC 80a-6, 80a-24(a), 80a-24(g) Name of Law: Investment Company Act of 1940
   US Code: 15 USC 80a-29, 80a-37 Name of Law: Investment Company Act of 1940
   US Code: 15 USC 78c(b), 78l, 78m, 78o, 78w(a) Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL82	Proposed rulemaking	81 FR 51607	08/04/2016

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Federal Register Notices & Comments

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
Form 1-SA	SEC 2914	Form 1-SA

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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: The proposed amendments in Release No. 33- 10110 address disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded as a result of other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles, International Financial Reporting Standards, or changes in the information environment. The purpose of the proposed amendments is to facilitate the disclosure of information to investors, while simplifying and updating disclosure requirements, without significantly altering the total mix of information provided to investors. We anticipate that the proposed amendments will decrease the burdens and costs for registrants to prepare and review filings for many forms and will increase the burden and costs for a limited number of forms. For purposes of the PRA, we estimate that the proposed amendments to Form 1-SA will result in a net increase of 28 burden hours. We have not provided an estimate for professional cost changes because we have assumed that the changes will only impact the internal efforts to respond to the collection of information.

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Annual Cost to Federal Government: $150,000

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 11/01/2018

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