ERISA Investment Manager Electronic Registration

ICR 201002-1210-001

OMB: 1210-0125

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2010-02-16
IC Document Collections
IC ID
Document
Title
Status
13506
Modified
ICR Details
1210-0125 201002-1210-001
Historical Active 200611-1210-007
DOL/EBSA
ERISA Investment Manager Electronic Registration
Extension without change of a currently approved collection   No
Regular
Approved without change 03/30/2010
Retrieve Notice of Action (NOA) 02/25/2010
  Inventory as of this Action Requested Previously Approved
03/31/2013 36 Months From Approved 03/31/2010
10 0 500
12 0 550
730 0 17,500

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.

US Code: 29 USC 1003(38)(B) Name of Law: Employee Retirement Income Security Act of 1974
  
None

Not associated with rulemaking

  74 FR 62350 11/27/2009
75 FR 8750 02/25/2010
No

1
IC Title Form No. Form Name
ERISA Investment Manager Electronic Registration

  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 10 500 0 0 -490 0
Annual Time Burden (Hours) 12 550 0 0 -538 0
Annual Cost Burden (Dollars) 730 17,500 0 0 -16,770 0
No
No
The Department has not made any program changes to this information collection since the prior PRA renewal in 2007. The burden estimates have been adjusted to take into account the fact that most investment advisers that are affected already have invested in the systems necessary to make use of electronic methods of communication through the Internet). Therefore, capital investments previously assumed to be required have been eliminated, reducing the annual hour and cost burdens of this information collection. Since 2007, most of the states that were listed as not requiring the Investment Adviser Registration Depository ("IARD") now do (including California and Florida which comprised 95% of the cost burden in the previous estimates). Only South Carolina and West Virginia do 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 two states. The Department has updated the IARD fee numbers, which were calculated previously to be $150 for all initial registers and $100 in subsequent years. Wage rates have also been updated.

$0
No
No
Uncollected
Uncollected
No
Uncollected
Chris Cosby 202 693-8540

  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.
02/25/2010


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