Employee Retirement Income Security Act of 1974 Investment Manager Electronic Registration

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
1210-0125 ERISA Investment Manager Electronic Registration 07-19-2022.docx	Supporting Statement A	Uploaded 2022-07-19	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
13506	ERISA Investment Manager Electronic Registration		Modified

ICR Details

OMB Control No: 1210-0125	ICR Reference No: 202206-1210-006
Status: Historical Active	Previous ICR Reference No: 201906-1210-008
Agency/Subagency: DOL/EBSA	Agency Tracking No:
Title: Employee Retirement Income Security Act of 1974 Investment Manager Electronic Registration
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/29/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/28/2022
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2025	36 Months From Approved	09/30/2022
Responses	3	0	4
Time Burden (Hours)	3	0	4
Cost Burden (Dollars)	230	0	270

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Abstract: The Department's regulation at 29 CFR 2510.3-38 provides that, in order to meet the definition of investment manager in section 3(38) of the Employee Retirement Income Security Act of 1974, state-registered investment advisers must register electronically through a centralized electronic filing system established by the SEC and state investment authorities called the Investment Adviser Registration Depository ("IARD") rather than providing a paper copy of their state registration to the Secretary of Labor.

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Authorizing Statute(s): US Code: 29 USC 1003(38)(B) Name of Law: Employee Retirement Income Security Act of 1974
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 15267	03/17/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 45365	07/28/2022
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
ERISA Investment Manager Electronic Registration

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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	3	4	0	0	-1	0
Annual Time Burden (Hours)	3	4	0	0	-1	0
Annual Cost Burden (Dollars)	230	270	0	0	-40	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: There have been no program changes to this information collection. Only West Virginia does not require the IARD for their investment advisors. Thus, the Department’s requirement only imposes a burden upon a small set of investment advisors in this one state. The Department has confirmed with the West Virginia State Auditor’s Office that the number of paper filings reduced to 3 paper filings since the last submission. Wage rates, used to calculate the equivalent cost of the hour burden, have been updated.

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Annual Cost to Federal Government: $0

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: 07/28/2022

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