Electronic Filing Of Transfer Agent Forms - Securities And Exchange Commission Page 24
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100There are 519 transfer agents registered with the Commission. Accordingly, the increase in
collection of information burden associated with filing electronically for Form TA-1 would be 1038
hours. There are 266 transfer agents registered with an ARA other than the Commission.
Accordingly, the collection of information burden associated with filing electronically for Form TA-
2 is 532 hours.
Additionally, we believe that the estimated hour burden for Form TA-1 will increase for the
first year of electronic filing because the amendments require that transfer agents registered with the
Commission refile the information on Form TA-1 electronically in EDGAR as an amended Form
TA-1. The requirement to file an amended Form TA-1 would apply to the 519 transfer agents for
which the Commission is the ARA and would create a one time collection of information burden.
We estimate that each transfer agent that is required to refile the information on Form TA-1 wouls
need approximately two hours to do so, for an increase to the total burden for the first year of 1,038
hours.
In sum, we estimate that the amendments will increase the collection of information hour
burden for Form TA-1 by a total of 2,076 hours and for Form TA-2 of a total of 532 hours for the
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first electronic filing only.
After the first electronic filing, the estimated burden will return to its
current level.
V. COSTS AND BENEFITS OF THE PROPOSED RULEMAKING
The Commission is sensitive to the costs and benefits of our rule implementing an electronic
filing system for transfer agent forms. We believe that the amendments will benefit transfer agents
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Based on an estimated average administrative labor cost of $31.50 per hour, the
Commission’s staff estimates that the total labor cost to the transfer agent industry for
complying with the proposed amendments would be $98,910.
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