[Federal Register Volume 77, Number 135 (Friday, July 13, 2012)]
[Notices]
[Pages 41461-41462]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-17075]


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SECURITIES AND EXCHANGE COMMISSION


Submission for OMB Review; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange 
Commission, Office of Investor Education and Advocacy, Washington, DC 
20549-0213.

Extension:
    Form N-4; SEC File No. 270-282; OMB Control No. 3235-0318.

    Notice is hereby given that, pursuant to the Paperwork Reduction 
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange 
Commission (the ``Commission'') has submitted to the Office of 
Management and Budget (``OMB'') a request for extension of the 
previously approved collection of information discussed below.
    The collection of information is entitled: ``Form N-4 (17 CFR 
239.17b) under the Securities Act of 1933 and (17 CFR 274.11c) under 
the Investment Company Act of 1940, registration statement of separate 
accounts organized as unit investment trust.''

[[Page 41462]]

Form N-4 is the form used by insurance company separate accounts 
organized as unit investment trusts that offer variable annuity 
contracts to register as investment companies under the Investment 
Company Act of 1940 (15 U.S.C. 80a-1 et seq.) and/or to register their 
securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.). 
Section 5 of the Securities Act (15 U.S.C. 77e) requires the filing of 
a registration statement prior to the offer of securities to the public 
and that the registration statement be effective before any securities 
are sold, and Section 8 of the Investment Company Act (15 U.S.C. 80a-8) 
provides for the registration of investment companies. Pursuant to Form 
N-4, separate accounts organized as unit investment trusts that offer 
variable annuity contracts provide investors with a prospectus and a 
statement of additional information covering essential information 
about a separate account. Section 5(b) of the Securities Act requires 
that investors be provided with a prospectus containing the information 
required in a registration statement prior to or at the time of sale or 
delivery of securities.
    The purpose of Form N-4 is to meet the filing and disclosure 
requirements of the Securities Act and the Investment Company Act and 
to enable filers to provide investors with information necessary to 
evaluate an investment in a security. The information required to be 
filed with the Commission permits verification of compliance with 
securities law requirements and assures the public availability and 
dissemination of the information.
    The estimated annual number of filings on Form N-4 is 124 initial 
registration statements and 1,127 post-effective amendments. The 
estimated average number of portfolios per filing is one, both for 
initial registration statements and post-effective amendments on Form 
N-4. Accordingly, the estimated number of portfolios referenced in 
initial Form N-4 filings annually is 124 and the estimated number of 
portfolios referenced in post-effective amendment filings on Form N-4 
annually is 1,127. The estimate of the annual hour burden for Form N-4 
is approximately 278.5 hours per initial registration statement and 
197.25 hours per post-effective amendment, for a total of 256,834.75 
hours ((124 initial registration statements x 278.5 hours) + (1,127 
post-effective amendments x 197.25 hours)).
    The current estimated annual cost burden for preparing an initial 
Form N-4 filing is $22,319 per portfolio and the current estimated 
annual cost burden for preparing a post-effective amendment filing on 
Form N-4 is $21,155 per portfolio. The Commission estimates that, on an 
annual basis, 124 portfolios will be referenced in initial Form N-4 
filings and 1,127 portfolios will be referenced in post-effective 
amendment filings on Form N-4. Thus, the estimated total annual cost 
burden allocated to Form N 4 would be $26,609,241 ((124 x $22,319) + 
(1,127 x $21,155)).
    Providing the information required by Form N-4 is mandatory. 
Responses will not be kept confidential. Estimates of average burden 
hours are made solely for the purposes of the Paperwork Reduction Act, 
and are not derived from a comprehensive or even a representative 
survey or study of the costs of Commission rules and forms. An agency 
may not conduct or sponsor, and a person is not required to respond to, 
a collection of information unless it displays a currently valid 
control number.
    The public may view the background documentation for this 
information collection at the following Web site, www.reginfo.gov. 
Comments should be directed to: (i) Desk Officer for the Securities and 
Exchange Commission, Office of Information and Regulatory Affairs, 
Office of Management and Budget, Room 10102, New Executive Office 
Building, Washington, DC 20503, or by sending an email to: [email protected]; and (ii) Thomas Bayer, Director/Chief Information 
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon, 
6432 General Green Way, Alexandria, VA 22312 or send an email to: [email protected]. Comments must be submitted to OMB within 30 days of 
this notice.

    Dated: July 9, 2012.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-17075 Filed 7-12-12; 8:45 am]
BILLING CODE 8011-01-P