Form S-8-Securities Act Registration Statement

Forms and Documents

Document Name	Status
Form SEC 1398 Form S-8-Securities Act Registration Statement Form and Instruction	Modified
Rule 701 (platform worker) proposing release-PRA Supporting Statement.Final.pdf Supporting Statement A	2021-04-22
February 5, 2020 EDAGR PIA.pdf Supplementary Document	2021-04-22

IC Document Collections

IC ID	Document Title	Status
34237	Form S-8-Securities Act Registration Statement Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0066	ICR Reference No: 202104-3235-019
Status: Received in OIRA	Previous ICR Reference No: 201805-3235-028
Agency/Subagency: SEC	Agency Tracking No: CF 270-66
Title: Form S-8-Securities Act Registration Statement
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/28/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	07/31/2021
Responses	2,157	2,140
Time Burden (Hours)	29,137	28,890
Cost Burden (Dollars)	11,654,600	11,556,000

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Abstract: Form S-8 is the primary registration statement used by qualified registrants to register securities issued in connection with employee benefit plans.

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Authorizing Statute(s): US Code: 15 USC 78(b), 78l, 78m, 78o, 78w(a), Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 77g, 77j, 77s(a) Name of Law: Securities Act of 1933
   US Code: 15 USC 78mm Name of Law: Securities Exchange Act of 1934
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3235-AM79	Proposed rulemaking	85 FR 79936	12/11/2020

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Federal Register Notices & Comments

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
Form S-8-Securities Act Registration Statement	SEC 1398	Form S-8

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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	2,157	2,140	0	17	0	0
Annual Time Burden (Hours)	29,137	28,890	0	247	0	0
Annual Cost Burden (Dollars)	11,654,600	11,556,000	0	98,600	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: Form S-8 is the simplified form for the Securities Act registration of securities transactions involving an issuance to a registrant’s employees, as defined by the form, in a compensatory or incentive context and for a non-capital-raising purpose. The proposed amendments would amend Form S-8 to permit compensatory issuances to an issuer’s platform workers. For purposes of the Paperwork Reduction Act, we estimate that the proposed amendments would result in: an increase of 17 additional Form S-8 responses per year, which would increase the average annual number of responses for Form S-8 from 2,140 to 2,157; an average annual increase in internal burden hours of 247 hours, which would increase the total number of annual internal burden hours from 28,890 hours to 29,137 hours; and an increase in professional costs of $98,600, which would increase the total annual outside cost burden from $11,556,000 to $11,654,600.

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Annual Cost to Federal Government: $103,479,690

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.     Yes

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: 04/28/2021

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