SEC Extends Mandatory Form N-54A for Business Development Companies
Business development companies must continue filing Form N-54A; comments due by Oct. 23, 2026.
The Securities and Exchange Commission issued a notice proposing an extension of the mandatory information collection for Form N-54A, the notification required of investment companies that elect to be regulated as business development companies under the Investment Company Act.
The notice, identified by OMB Control No. 3235-0237, estimates that approximately 25 business development companies file Form N-54A each year. Each filing is expected to require 0.5 hours at a cost of $470.5 per hour, resulting in a total annual time burden of 12.5 hours and an estimated cost of $5,881.25 to the industry.
The collection is mandatory, and the information submitted on Form N-54A is not kept confidential. The SEC staff indicated that there are no additional costs beyond the hour burden identified.
Written comments are invited on the necessity of the collection, the accuracy of the burden estimate, and ways to improve or reduce the burden, including the use of automated or electronic collection techniques. Comments must be directed to Austin Gerig, Director/Chief Data Officer, via email by October 23, 2026.
The notice was dated August 20, 2026, and filed on August 21, 2026.
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