Rule 17f-2 (17 CFR 270.17f-2) under the Investment Company Act of 1940, Custody of Investments by Registered Management Investment Company.

Forms and Documents

Document Name	Status
3235-0223 60 Day Notice.pdf Supplementary Document	2021-11-10
30 Day 3235-0223 2021-24136.pdf Supplementary Document	2021-11-10
Supporting Statement - Rule 17f-2.pdf Supporting Statement A	2021-08-17

IC Document Collections

IC ID	Document Title	Status
34618	Rule 17f-2 under the Investment Company Act of 1940, Custody of Investments by Registered Management Company	Modified

ICR Details

OMB Control No: 3235-0223	ICR Reference No: 202108-3235-010
Status: Received in OIRA	Previous ICR Reference No: 201802-3235-019
Agency/Subagency: SEC	Agency Tracking No: IM-270-233
Title: Rule 17f-2 (17 CFR 270.17f-2) under the Investment Company Act of 1940, Custody of Investments by Registered Management Investment Company.
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: 11/10/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2022
Responses	178,242	200,644
Time Burden (Hours)	45,384	51,912
Cost Burden (Dollars)	10,699,278	7,940,888

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Abstract: Rule 17f-2 establishes safeguards for arrangements in which a registered management investment company is deemed to maintain custody of its own assets, such as when the company maintains assets in a facility that provides safekeeping but not custodial services.

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Authorizing Statute(s): US Code: 15 USC 80a 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:
	86 FR 48787	08/31/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 61351	11/05/2021
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 17f-2 under the Investment Company Act of 1940, Custody of Investments by Registered Management Company

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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	178,242	200,644	0	0	-22,402	0
Annual Time Burden (Hours)	45,384	51,912	0	0	-6,528	0
Annual Cost Burden (Dollars)	10,699,278	7,940,888	0	0	2,758,390	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 estimated total annual hour burden for rule 17f-2 has decreased from 51,912 hours to 45,384 hours. The estimated total annual burden cost has increased from 13.5 million to 13.8 million. The estimated total annual external cost has increased from approximately $7.9 million to approximately $10.7million. The total annual hour burden has decreased due to a decrease in the amount of funds filing Form N-17f-2 (and thus are subject to the rule) during the reporting period. Changes to the estimated total annual cost to the hour burden are based upon inflation adjustments to the relevant salary estimates. The estimated total annual external costs have increased for similar reasons and to correctly reflect the expense of outside professional services.

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Annual Cost to Federal Government: $0

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: 11/10/2021

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