Form N-2 under the Investment Company Act of 1940 and Securities Act of 1933, Registration Statement of Closed-End Management Investment Companies
Revision of a currently approved collection
No
Regular
09/01/2022
Requested
Previously Approved
36 Months From Approved
09/30/2023
298
298
94,644
94,627
6,281,017
6,260,392
Form N-2 is filed by closed-end management investment companies to register under the Investment Company Act of 1940 and to offer their shares under the Securities Act of 1933. Form N-2 is filed by business development companies ("BDCs") to offer their shares under the Securities Act.
On October 13, 2021, the Commission adopted rules modifying most fee-bearing forms, schedules, statements, and related rules to require all fee calculation disclosure information in a new filing fee exhibit that will be structured in Inline XBRL. In particular, amended Form N‑2 requires (non-interval) registered closed-end investment companies and BDCs to disclose all filing fee information in the filing fee exhibit.
US Code:
15 USC 80a-8
Name of Law: Investment Company Act of 1940
US Code:
15 USC 77e
Name of Law: Securities Act of 1933
The rule amendments will modernize filing fee disclosure and payment methods. The amendments will revise most fee-bearing forms, schedules, statements, and related rules to require each filing fee table and accompanying disclosure to include all required information for fee calculation in a structured format using Inline XBRL. The amendments also will add options for fee payment via ACH and debit and credit cards and eliminate options for fee payment via paper checks and money orders. Finally, the amendments also will make other fee-related revisions. The Commission anticipates that the amendments will, in the aggregate, increase the burdens and costs on affected entities due to changes in fee calculation disclosure requirements and the new requirement to structure fee-related information.
For purposes of the PRA, the Commission estimates that the amendments to Form N-2 will result in an increase of 17 internal burden hours, and an increase of $20,625 in external costs for the services of outside professionals to comply with the new filing fee exhibit disclosure requirements.
In the aggregate, we estimate that filers will spend approximately 94,644 total burden hours, and $6,281,017 in total external costs for the services of outside professionals to comply with Form N-2’s disclosure requirements. These figures reflect the Commission’s revision and update of burden estimates for Form N-2, including the new burdens associated with the rulemaking changes.
No
No
No
No
No
No
No
Amy Miller 202 551-4447
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.
Form SEC 1716 Form N-2 under the Investment Company Act of 1940 and Securities Act of 1933, Registration Statement of Closed-End Management Investment Companies
Form N-2 (A-Fee Tagging) Supporting Statement.pdf
Form N-2 under the Investment Company Act of 1940 and Securities Act of 1933, Registration Statement of Closed-End Management Investment Companies