Mutual Fund Interactive Data

ICR 201810-3235-047

OMB: 3235-0642

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2018-10-31
Supplementary Document
2018-10-31
IC Document Collections
IC ID
Document
Title
Status
185342
Modified
ICR Details
3235-0642 201810-3235-047
Historical Active 201411-3235-009
SEC IM-270-580
Mutual Fund Interactive Data
Revision of a currently approved collection   No
Regular
Approved without change 10/31/2018
Retrieve Notice of Action (NOA) 10/31/2018
  Inventory as of this Action Requested Previously Approved
10/31/2021 36 Months From Approved 10/31/2018
15,206 0 14,360
178,803 0 172,323
10,000,647 0 9,355,713

Open-end management investment companies (“funds”) are required to submit to the Commission information included in their registration statements, or information included in or amended by post-effective amendments thereto, in response to Items 2, 3, and 4 (“risk/return summary information”) of Form N-1A (OMB Control No. 3235-0307) in interactive data format and to post it on their Web sites, if any, in interactive data form. In addition, funds are required to submit an interactive data file to the Commission for any form of prospectus filed pursuant to rule 497(c) or (e) under the Securities Act of 1933 that includes risk/return summary information that varies from the registration statement and to post the interactive data file on their Web sites, if any. The Commission has adopted amendments to require use of the “Inline XBRL” format for the submission of mutual fund risk/return summary information using the machine-readable (i.e., interactive) eXtensible Business Reporting Language (XBRL) format in interactive data files, and to eliminate the aforementioned website posting requirements.

US Code: 15 USC 80a-1 et seq. Name of Law: Investment Company Act of 1940
   US Code: 15 USC 77a et seq Name of Law: Securities Act of 1933
  
None

3235-AL59 Final or interim final rulemaking 83 FR 40846 06/28/2018

No

1
IC Title Form No. Form Name
Mutual Fund Interactive Data

  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 15,206 14,360 0 0 846 0
Annual Time Burden (Hours) 178,803 172,323 0 0 6,480 0
Annual Cost Burden (Dollars) 10,000,647 9,355,713 0 0 644,934 0
No
No
Currently, the approved annual hour burden for complying with the Mutual Fund Interactive Data requirements is 172,323 hours. The new estimate for complying with the Mutual Fund Interactive Data requirements after accounting for the Inline Tagging of XBRL Data adoption is 178,803 hours, representing an increase of 6,480 hours. The increase in hourly burden is due to the Commission’s increased estimate in the number of funds that would provide risk/return summary information as interactive data in additional filings submitted pursuant to rule 485(b) or rule 497 annually, along with an estimate that the Inline XBRL requirements (including the elimination of website posting requirements) for mutual fund risk/return summary will result in an overall decrease in burden hours per filing. Based on the estimated wage rate, the total cost to the fund industry of the aforementioned 178,803 hour burden is approximately $52.5 million per year. Currently, the approved total cost burden for software and/or consulting services for complying with the Mutual Fund Interactive Data requirements is approximately $9,355,713. The estimated new total cost burden is $10,000,647, representing an increase of $644,934. This increase is due to an increase in the estimated number of funds and an increase in the estimated software costs per fund.

No
    No
    No
No
No
No
Uncollected
John Foley 202 551-6724

  No

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.
10/31/2018


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