Sec Form N27d1 (Page 2 of 2) in pdf

INSTRUCTIONS FOR FORM N-27D-1

During the first 2 years after the effective date of Rule 27d-1, this Form is to be filed for each calendar quarter within 15 business

days after the end of such quarter; thereafter, it shall be filed for each year on or before January 31 of the following year.

The balance at the beginning of the period shall be the same in amount as the balance shown at the end of the immediately preceding

period.

If any item is not applicable, enter “N.A.”

If a single combined segregated trust account is used for the periodic payment plans of two or more registered investment companies,

the depositor or principal underwriter shall indicate separately for each registered investment company the deposits pursuant to

paragraphs (c) and (e), the withdrawals pursuant to paragraph f(1) and f(2) and the minimum amounts required to be maintained

pursuant to paragraphs (d) and (e) of Rule 27d-1.

This Form shall be signed by the chief executive or chief financial officer of the depositor or principal underwriter, whichever is

appropriate.

An original and two copies of the form plus an additional copy for each registered investment company identified are to be filed.

Electronic filers are subject to Regulation S-T (§§ 232.10 - 232.306 of this chapter) and the EDGAR Filer Manual, as that term

is defined in rule 0-1 under the Investment Company Act of 1940 (§ 270.0-1 of this chapter). Any rule or instruction therein shall

be controlling unless otherwise specifically provided in rules or instructions pertaining to the submission of this form. Provisions

relating to binding, page numbering and multiple copies required to be filed with the Commission do not apply to registration

statements in electronic format. Capital letters shall be used to satisfy bold-face type requirements. See Securities Act rules 402(d)

and 403(e) and Investment Company Act rules 8b-1 and 8b-2. Signatures shall be in typed form rather than manual format. See

rule 13 of Regulation S-T (§ 232.13 of this chapter).

An agency may not conduct or sponsor, and a person is not required to respond to , a collection of information unless it displays

a currently valid control number. The information collected on Form N-27D-1 indicates whether the depositor or principal

underwriter of an issuer of periodic payment plan certificates has access to sufficient cash to meet its statutory refund obligations.

This information collection facilitates the Commission’s monitoring of compliance with reserve requirements. A response to

this collection of information is mandatory under 17 C.F.R. § 270.27d-1 (j). The estimated average burden hours per response is

1 hour. Any member of the public may direct to the Commission any comments concerning the accuracy of this burden estimate

and any suggestions for reducing this burden. The information collected on Form N-27D-1 is publicly available. This collection

of information has been reviewed by the OMB in accordance with the clearance requirements of 44 U.S.C. §3507.

Sec Form N27d1 Page 2