Form 1-SA

Forms and Documents

Document Name	Status
Form SEC 2914 Form 1-SA Form and Instruction	Modified
OMB Supporting Statement DUSTR Adpoting.Final.5-17-2019.pdf Supporting Statement A	2019-05-17
January 2016 EDGAR PIA.pdf Supplementary Document	2019-05-31

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: 201905-3235-004
Status: Active	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: Approved without change	Conclusion Date: 07/17/2019
	Date Received in OIRA: 06/03/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2022	36 Months From Approved	10/31/2021
Responses	55	0	55
Time Burden (Hours)	8,791	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 80a-8, 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
   PL: Pub.L. 114 - 94 72002(2) Name of Law: Fixing America's Surface Transportation Act
   US Code: 15 USC 77g, 77j, 77s(a), 77z-3 Name of Law: Securities Act of 1933
   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	Final or interim final rulemaking	83 FR 50148	10/04/2018

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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

IC Title	Form No.	Form Name
Form 1-SA	SEC 2914	Form 1-SA

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ICR Summary 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	55	55	0	0	0	0
Annual Time Burden (Hours)	8,791	8,763	0	28	0	0
Annual Cost Burden (Dollars)	618,420	618,420	0	0	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: The amendments adopted in Release No. 33-10532 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 rule 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 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 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: 06/03/2019

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