Electronic Filing Of Transfer Agent Forms - Securities And Exchange Commission Page 36
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100"small organizations" as defined in this section; (3) maintained master shareholder files that in the
aggregate contained less than 1,000 shareholder accounts or was the named transfer agent for less
than 1,000 shareholder accounts at all times during the preceding fiscal year (or the time that it has
been in business, if shorter); and (4) is not affiliated with any person, other than a natural person,
that is not a small business or small organization under Rule 0-10.
The Commission estimates that there are 310 registered transfer agents that are "small
entities" under Rule 0-10. Of these, 170 are registered with the Commission and 140 are registered
with the other ARAs.
D.
Projected Reporting, Recordkeeping, and Other Compliance Requirements
The amendments require that all transfer agents apply for access to the EDGAR system and
file all transfer agent forms that they file with the Commission electronically on EDGAR. The
amendments also amend Form ID, Uniform Application for Access Codes to File on EDGAR, to add
“transfer agent” to the check-the-box list of applicant types (the form currently has boxes for “filer,”
“filing agent,” “trainer,” or “individual”). Transfer agents are expected, but not required, to
complete the electronic forms by using the EDGARLite application. All transfer agents filing
electronically will need a computer system that meets the EDGAR software and hardware
requirements. Additionally, all transfer agents that have previously filed a Form TA-1 with the
Commission will have to file an amended Form TA-1 electronically, of which approximately 170 are
small entities within the definition in Rule 0-10. The FRFA states that the incremental burden on all
"small entities" is approximately 960 hours and $30,240 for all entities. The FRFA also states that
the proposed amendments will not impose any other reporting, recordkeeping, or compliance
requirements, and that the Commission believes that there are no rules that duplicate, overlap, or
conflict with the proposed amendments.
E.
Agency Action to Minimize Effect on Small Entities
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