SEC Extends OMB-Approved Form N-RN Reporting Requirement for Funds
Registered open-end, closed-end funds and business development companies must continue filing Form N-RN; comments due by Oct 19 2026.
The Securities and Exchange Commission announced an extension of its Office of Management and Budget-approved information collection for Rule 30b1-10, Form N-RN. The requirement applies to registered open-end management investment companies (excluding money-market funds), registered closed-end funds, and business development companies.
Under the rule, a fund must file a non-public Form N-RN within one business day of a liquidity event, including when illiquid assets exceed 15 % of net assets, when highly liquid assets fall below the minimum for more than seven consecutive calendar days, or when a VaR-based leverage limit is breached. A second filing may be required when the breach is remedied.
The SEC estimates roughly 31 Form N-RN reports will be filed annually. Each report is expected to require about four hours of a lawyer's and a computer programmer's time, at a blended hourly rate of $605, resulting in a per-report cost of $2,420. The total projected burden is 124 hours and $75,020 per year.
The collection is mandatory, responses will be kept confidential, and the public may comment on the request at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202606-3235-021 or by email within 30 days of publication. The comment deadline is Oct 19 2026.
The notice cites OMB control number 3235-0754 and was dated Sep 14 2026.
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