Mutual Fund Interactive Data

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Inline XBRL PRA - Supporting Statement [2018 REVISED].pdf	Supporting Statement A	Uploaded 2018-10-31	Available
EDGAR PIA 2016.pdf	Supplementary Document	Uploaded 2018-10-31	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
185342	Mutual Fund Interactive Data		Modified

ICR Details

OMB Control No: 3235-0642	ICR Reference No: 201810-3235-047
Status: Historical Active	Previous ICR Reference No: 201411-3235-009
Agency/Subagency: SEC	Agency Tracking No: IM-270-580
Title: Mutual Fund Interactive Data
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/31/2018
	Date Received in OIRA: 10/31/2018
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2021	36 Months From Approved	10/31/2018
Responses	15,206	0	14,360
Time Burden (Hours)	178,803	0	172,323
Cost Burden (Dollars)	10,000,647	0	9,355,713

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Abstract: 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.

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Authorizing Statute(s): 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
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AL59	Final or interim final rulemaking	83 FR 40846	06/28/2018

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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

table that charts list of burden

IC Title	Form No.	Form Name
Mutual Fund Interactive Data

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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	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

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: 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.

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Annual Cost to Federal Government:

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: 10/31/2018

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