SEC Seeks Comments on Extending Rule 147A(f)(1)(iii) Written Purchaser Residency Representation
Summary
The SEC has issued a 60-day notice soliciting public comments on extending OMB Control No. 3235-0757, the information collection requirement under Rule 147A(f)(1)(iii) that mandates issuers relying on the intrastate offering exemption to obtain a written representation from each purchaser as to their residence. Approximately 700 respondents provide this information annually, generating an estimated 1,925 hours of total annual reporting burden (2.75 hours per response) and $105,000 in total annual cost ($150 per response). Comments must be submitted by June 26, 2026, to Austin Gerig, Director/Chief Data Officer, c/o Tanya Ruttenberg via PaperworkReductionAct@sec.gov.
About this source
This feed pulls every Securities and Exchange Commission entry from the Federal Register: rule proposals and adoptions, no-action determinations, exchange and SRO filing notices, exemption orders, and Investment Company Act applications. Around 270 entries a month. The Federal Register is where SEC rulemaking becomes binding (proposed rules first, then final rules), and where the dozens of SEC-supervised exchanges publish proposed fee changes and rule modifications they need approval for. Watch this if you advise registered investment advisers, file SEC applications, manage an exchange listing, or track market structure rule changes. GovPing publishes each entry with the docket ID, action type, and effective date where applicable. Recent: an Aristotle CLO fund seeking co-investment relief, Nasdaq PHLX auction mechanism amendments.
What changed
The SEC is seeking to extend an existing information collection under the Paperwork Reduction Act of 1995, specifically Rule 147A(f)(1)(iii), which requires issuers claiming the intrastate offering exemption under Rule 147A of the Securities Act of 1933 to obtain written representations from each purchaser confirming their residency. The notice restates the current burden estimates of approximately 700 annual responses, 2.75 hours per response, and $150 per response.
Issuers relying on Rule 147A for intrastate or regional securities offerings should note this ongoing collection requirement and consider submitting comments on the accuracy of the burden estimates or suggestions for minimizing the collection's impact on respondents. The SEC will publish a second 30-Day Submission Notice following this initial comment period.
Archived snapshot
Apr 25, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Notice
Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 147A(f)(1)(iii) Written Representation as to Purchaser Residency
A Notice by the Securities and Exchange Commission on 04/27/2026
PDF
Document Details
- Table of Contents
- Public Comments
- Regulations.gov Data
- Sharing
- Document Statistics
- Other Formats
- Public Inspection Published Document: 2026-08157 (91 FR 22561) Document Headings ###### Securities and Exchange Commission
- [OMB Control No. 3235-0757] Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549-2736
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 (“Commission”) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval.
Rule 147A (17 CFR 230.147A) provides an exemption from registration under Section 5 of the Securities Act of 1933 for certain intrastate offerings. Rule 147A is intended to facilitate intrastate and regional securities offerings. Among other things, Rule 147A(f)(1)(iii) requires issuers relying on the rule to “obtain a written representation from each purchaser as to his or her residence.” The written representation required under Rule 147A(f)(1)(iii) is intended to help ensure that the issuer's offering is, in fact, an intrastate offering. Approximately 700 respondents provide the information required by Rule 147A(f)(1)(iii) annually at an estimated 2.75 hours per response and $150 per response for a total annual reporting burden of 1,925 hours (2.75 hours per response × 700 responses annually) and a total annual cost burden of $105,000 ($150 per response × 700 responses annually).
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 OMB control number.
Written comments are invited on: (a) whether this proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency's estimate of the burden imposed by the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology.
Please direct your written comments on this 60-Day Collection Notice to Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg via email to PaperworkReductionAct@sec.gov by June 26, 2026. There will be a second opportunity to comment on this SEC request following the Federal Register publishing a 30-Day Submission Notice.
Dated: April 23, 2026.
Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2026-08157 Filed 4-24-26; 8:45 am]
BILLING CODE 8011-01-P
Published Document: 2026-08157 (91 FR 22561)
CFR references
Named provisions
Mentioned entities
Citations
Related changes
Get daily alerts for FR: Securities and Exchange Commission
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
Source
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from Securities and Exchange Commission.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when FR: Securities and Exchange Commission publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.