SEC Form N-3 Information Collection Extension for Registration of Variable Annuity Separate Accounts
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The U.S. Securities and Exchange Commission is seeking a three-year extension of OMB approval for the collection of information required by Form N-3. This form is used by insurance company separate accounts organized as management investment companies to register under the Investment Company Act of 1940 and/or register securities under the Securities Act of 1933 when offering variable annuity contracts. It is also used by accounts relying on the Section 3(c)(11) exclusion. Form N-3 enables the filing of initial registration statements, post-effective amendments, and the delivery of prospectuses and statements of additional information to investors. The Commission estimates a total annual burden of 1,727 hours and an external cost burden of $125,376. Responses are mandatory and not confidential. Public comments are due by April 27, 2026.
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Key Changes
- Extension of OMB Control No. 3235-0316 for three years
- Estimated total annual hour burden remains 1,727 hours
- Initial registration statement burden: 926.4 hours per filing with 1 expected filing every 3 years (309 annual hours)
+ 3 more changes with Pro
Obligations
What this law requires
Insurance company separate accounts organized as management investment companies must file Form N-3 to register under the Investment Company Act of 1940 before offering variable annuity contracts
Separate accounts must file a registration statement on Form N-3 under the Securities Act of 1933 prior to the offer of securities to the public, and the statement must be effective before any securities are sold
Separate accounts relying on Section 3(c)(11) exclusion of the Investment Company Act must file Form N-3 registration statements under the Securities Act
Separate accounts must provide investors with a prospectus containing registration statement information prior to the sale or at the time of confirmation or delivery of securities
Separate accounts must file post-effective amendments on Form N-3 when making changes to their registration statements