SEC Extends OMB Review for Form N-54C Withdrawal Notification
The extension applies to business development companies filing Form N-54C, with comments due by Nov 12 2026.
The Securities and Exchange Commission announced on October 13, 2026 that it is submitting to the Office of Management and Budget a request to extend the proposed collection of information for Form N-54C (OMB Control No. 3235-0236, FR Doc No. 2026-20819). Comments on the request must be received by November 12, 2026 via the RegInfo website or email.
Form N-54C is the mandatory filing used by business development companies to withdraw their election to be regulated under Sections 55 through 65 of the Investment Company Act of 1940. A company may make this election by filing a notification of election and may later withdraw it by filing Form N-54C.
The Commission estimates that, on average, eight business development companies file Form N-54C each year. Each filing requires one internal hour of legal time, valued at $774 per hour, resulting in an estimated total internal cost of $6,192 annually. An external cost of $232 per filing yields an estimated total external burden of $1,856 per year.
The collection is mandatory, and the information submitted on Form N-54C is not kept confidential. The notice reminds that an agency may not conduct a collection without a currently valid OMB control number. The public may view and comment on the request at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202607-3235-027. The notice was signed by Sherry R. Haywood, Assistant Secretary, on October 7, 2026.
Further reading