Disclosure Requirements Concerning Business Opportunities

Forms and Documents

Document Name	Status
2021 Business Opportunity Rule Supporting Statement.pdf Supporting Statement A	2020-12-18

IC Document Collections

IC ID	Document Title	Status
214133	Disclosures by new business opportunity sellers	Unchanged
214132	Disclosures by existing business opportunity sellers	Unchanged
200458	Costs of Bus. Opp. Sellers Mktg in non-English to Translate the Required Disclosures	Modified
200457	Costs to Draft Disclosure Document in a Language Other Than English or Spanish	Modified
200456	Business Opportunity Sellers' Printing and Mailing Costs	Unchanged
200452	Recordkeeping for Business Opportunity Sellers	Unchanged

ICR Details

OMB Control No: 3084-0142	ICR Reference No: 202010-3084-002
Status: Received in OIRA	Previous ICR Reference No: 201712-3084-001
Agency/Subagency: FTC	Agency Tracking No:
Title: Disclosure Requirements Concerning Business Opportunities
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 12/18/2020

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2021
Responses	3,097,260	3,125,950
Time Burden (Hours)	10,065	10,065
Cost Burden (Dollars)	3,057,203	3,062,224

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Abstract: The Federal Trade Commission ("FTC") seeks to extend for an additional three years its OMB clearance for the information collection requirements contained in the FTC's Business Opportunity Rule.

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Authorizing Statute(s): US Code: 15 USC 41-58 Name of Law: Federal Trade Commission Act
  

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:
	85 FR 45427	07/28/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 82477	12/18/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Recordkeeping for Business Opportunity Sellers
Disclosures by new business opportunity sellers
Costs of Bus. Opp. Sellers Mktg in non-English to Translate the Required Disclosures
Costs to Draft Disclosure Document in a Language Other Than English or Spanish
Business Opportunity Sellers' Printing and Mailing Costs
Disclosures by existing business opportunity sellers

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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	3,097,260	3,125,950	0	0	-28,690	0
Annual Time Burden (Hours)	10,065	10,065	0	0	0	0
Annual Cost Burden (Dollars)	3,057,203	3,062,224	0	0	-5,021	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:

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Annual Cost to Federal Government: $62,000

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: 12/18/2020

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