Rule 12b-1 under the Investment Company Act (17 CFR 270.12b-1) permits a mutual fund to bear expenses associated with the distribution of its shares, provided that the fund complies with certain requirements. Rule 12b-1 requires, among other things, that the fund adopt a written plan describing all material aspects of the proposed financing of distribution ("rule 12b-1 plan"). The rule 12b-1 plan must be approved by the fund's board of directors, including the independent directors (as described in the rule), and, if the rule 12b-1 plan is being adopted after public offering of the fund's voting securities, by a majority of the fund's outstanding voting securities.
The estimated annual burden hours for funds with rule 12b-1 plans has decreased from 192,950 to 106,250 hours (a decrease of 86,700 hours). This is due to a decrease in the number of fund families that have at least one fund that has a rule 12b-1 plan. The estimated annual cost burden associated with rule 12b 1 remains unchanged at $90,000.
$0
No
No
No
No
No
No
No
Christian Corkery 202 551-6484
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.
2025 04 08_90 FR 15184_3235-0212_30-Day Submission Notice.pdf.pdf
Rule 12b-1 [17 CFR 270.12b-1] under the Investment Company Act of 1940: Distribution of Shares by Registered Open-End Management Investment Company