SEC Form N-14 Information Collection Extension Request

Regulations.gov Final Notices

Published March 19th, 2026

Detected March 25th, 2026

Summary

The SEC has submitted a request to the OMB for an extension of the information collection requirements for Form N-14. This form is used by management investment companies and business development companies for securities registration in business combination transactions. The SEC estimates the annual burden to be approximately 103,685 hours and $3,401,800.

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What changed

The Securities and Exchange Commission (SEC) has submitted a request to the Office of Management and Budget (OMB) for an extension of the information collection requirements associated with Form N-14. This form is utilized for the registration of securities issued by management investment companies and business development companies in various business combination transactions, such as mergers and exchange offers. The SEC estimates that approximately 233 registration statements and amendments are filed annually, with an estimated total annual internal burden of 103,685 hours and a cost burden of $3,401,800 for purchased goods and services.

This notice serves as a request for public comment on the extension of this information collection. While the document itself is a notice regarding an extension request, it details the ongoing requirements for entities filing Form N-14. Compliance with Form N-14 is mandatory. Interested parties can submit comments to OMB via the provided link or email by April 24, 2026. The SEC is seeking to extend the existing OMB Control Number for this collection.

What to do next

Review Form N-14 requirements for any business combination transactions.
Submit comments on the information collection request to OMB by April 24, 2026.

Source document (simplified)

Content

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 (“SEC” or “Commission”) is submitting to the Office of Management and Budget (OMB)
this request for extension of the proposed collection of information discussed below.

Form N-14 (17 CFR 239.23) is the form for registration under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (“Securities Act”) of securities issued by management investment companies registered under the Investment Company Act of
1940 (15 U.S.C. 80a-1 et seq.) (“Investment Company Act”) and business development companies as defined by Section 2(a)(48) of the Investment Company Act
in: (1) a transaction of the type specified in rule 145(a) under the Securities Act (17 CFR 230.145(a)); (2) a merger in which
a vote or consent of the security holders of the company being acquired is not required pursuant to applicable state law;
(3) an exchange offer for securities of the issuer or another person; (4) a public reoffering or resale of any securities
acquired in an offering registered on Form N-14; or (5) two or more of the transactions listed in (1) through (4) registered
on one registration statement. The principal purpose of Form N-14 is to make material information regarding securities to
be issued in connection with business combination transactions available to investors. 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 such information. Without the registration statement requirement, material information may not necessarily
be available to investors.

The following estimates of average burden hours and costs are made solely for purposes of the Paperwork Reduction Act of 1995
and are not derived from a comprehensive or even representative survey or study of the cost of Commission rules and forms.
Compliance with Form N-14 is mandatory. Responses to the collection of information will not be kept confidential.

We estimate that approximately 141 new registration statements and 92 amendments to a registration statement are filed on
Form N-14 annually, for a total of 233 registration statements. Based on conversations with fund representatives and the Commission's
experience with the filing and amending of Form N-14 and with disclosure documents generally, we estimate that the reporting
burden of compliance with Form N-14 is approximately 590 hours per respondent for a new Form N-14 registration statement,
and 300 hours per respondent for amending the Form N-14 registration statement. This time is spent, for example, preparing
and reviewing the registration statements. Accordingly, we calculate the total estimated annual internal burden of responding
to Form N-14 to be approximately 103,685 hours. In addition to the burden hours, we estimate that the total cost burden of
compliance with the information collection requirements of Form N-14 is approximately $3,401,800for the cost of goods and
services purchased to prepare and update registration statements on Form N-14, such as for the services of outside counsel.

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.

The public may view and comment on this information collection request at: https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202601-3235-004 or email comment to MBX.OMB.OIRA.SECdeskofficer@omb.eop.gov within 30 days of the day after publication of this notice by April 24, 2026.

Dated: March 19, 2026. Vanessa A. Countryman, Secretary. [FR Doc. 2026-05664 Filed 3-23-26; 8:45 am] BILLING CODE 8011-01-P