Rule 30e-3 (17 CFR 270.30e-3) under the Investment Company Act of 1940, "Internet availability of reports to shareholders"

Forms and Documents

Document	Type	Status	Availability
Rule 30e-3 supporting statement (final).pdf	Supporting Statement A	Uploaded 2020-11-10	Missing upstream

IC Document Collections

IC ID	Collection	Type	Status	Form
224443	Rule 30e-3 (17 CFR 270.30e-3) under the Investment Company Act of 1940, "Internet availability of reports to shareholders"		Modified

ICR Details

OMB Control No: 3235-0758	ICR Reference No: 202011-3235-008
Status: Received in OIRA	Previous ICR Reference No: 201808-3235-010
Agency/Subagency: SEC	Agency Tracking No: IM-270-802
Title: Rule 30e-3 (17 CFR 270.30e-3) under the Investment Company Act of 1940, "Internet availability of reports to shareholders"
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/17/2020

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2022
Responses	2,608	22,734
Time Burden (Hours)	3,299	28,758
Cost Burden (Dollars)	9,066,307	79,031,220

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Abstract: Rule 30e‑3 provides certain funds and unit investment trusts with an optional method to satisfy shareholder report transmission requirements by making such reports and certain other materials publicly accessible on a website, as long as they satisfy certain other conditions of the rule regarding (a) availability of the report and other materials; (b) notice to investors of the website availability of the report; and (c) delivery of paper copies of materials upon request.

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Authorizing Statute(s): US Code: 15 USC 80a Name of Law: Investment Company Act of 1940
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM52	Proposed rulemaking	85 FR 70716	11/05/2020

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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
Rule 30e-3 (17 CFR 270.30e-3) under the Investment Company Act of 1940, "Internet availability of reports to shareholders"

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ICR Summary of Burden

	Total Request	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	2,608	22,734	0	0	-20,126	0
Annual Time Burden (Hours)	3,299	28,758	0	0	-25,459	0
Annual Cost Burden (Dollars)	9,066,307	79,031,220	0	0	-69,964,913	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: The proposed amendments to the scope of rule 30e-3 would decrease the total annual hour burden from 28,758 hours to 3,299 hours (a decrease of 25,459 hours). The annual external costs would decrease from $79,031,220 to $9,066,307 (a decrease of $69,964,913). These estimated reductions in burden hours and external costs would result from excluding open-end funds from the scope of the rule.

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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? No

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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: 11/17/2020

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