Rule 31a-2: Records to be preserved by registered investment companies, certain majority-owned subsidiaries thereof, and other persons having transactions with registered investment companies.

Forms and Documents

Document Name	Status
3235-0179 60 day notice.pdf Supplementary Document	2019-10-30
3235-0179 30 Day Notice.pdf Supplementary Document	2019-10-30
pia-edgar.pdf Supplementary Document	2019-10-30
Supporting Statement.pdf Supporting Statement A	2019-08-01

IC Document Collections

IC ID	Document Title	Status
34515	Rule 31a-2: Records to be preserved by registered investment companies, certain majority-owned subsidiaries thereof, and other persons having transactions with registered investment companies	Modified

ICR Details

OMB Control No: 3235-0179	ICR Reference No: 201906-3235-012
Status: Active	Previous ICR Reference No: 201611-3235-025
Agency/Subagency: SEC	Agency Tracking No: IM-270-174
Title: Rule 31a-2: Records to be preserved by registered investment companies, certain majority-owned subsidiaries thereof, and other persons having transactions with registered investment companies.
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: 01/02/2020
	Date Received in OIRA: 10/30/2019
Terms of Clearance: In future iterations of this collection request, please include updated costs to the Federal Government from this collection.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2023	36 Months From Approved	03/31/2020
Responses	3,160	0	3,146
Time Burden (Hours)	696,464	0	693,542
Cost Burden (Dollars)	115,372,485	0	117,916,486

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Abstract: Rule 31a-2 under the Investment Company Act of 1940 ("Act") (17 CFR 270.31a-2) specifies the time periods that entities must retain certain books and records, including those required to be maintained under rule 31a-1 under the Act.

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Authorizing Statute(s): US Code: 15 USC 80a-30 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:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 40111	08/13/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 57924	10/29/2019
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 31a-2: Records to be preserved by registered investment companies, certain majority-owned subsidiaries thereof, and other persons having transactions with registered investment companies

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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	3,160	3,146	0	0	14	0
Annual Time Burden (Hours)	696,464	693,542	0	0	2,922	0
Annual Cost Burden (Dollars)	115,372,485	117,916,486	0	0	-2,544,001	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 hour burden estimate for compliance with rule 31a-2 has decreased, from 767,902 hours 696,464 hours (a decrease of 71,438 hours). This is due to a decrease in the estimated number of funds subject to rule 31a 2. The cost burden estimate for compliance with rule 31a 2 has decreased from about $122.2 million to about $115.4 million (an decrease of about $6.9 million). This is due to a decrease in the estimated number of funds subject to rule 31a 2, partially offset by the effects of inflation.

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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? 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: 10/30/2019

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