Crowdfunding - Rules 400-404 (Funding Portals)

ICR 202412-3235-002

OMB: 3235-0727

Federal Form Document

ICR Details
3235-0727 202412-3235-002
Received in OIRA 202203-3235-007
SEC TM
Crowdfunding - Rules 400-404 (Funding Portals)
Extension without change of a currently approved collection   No
Regular 05/09/2025
  Requested Previously Approved
36 Months From Approved 08/31/2025
754 822
36,315 36,775
618,293 671,793

The Rule 400 series of Regulation Crowdfunding (17 CFR Part 227) contains rules specifically applicable to funding portals (17 CFR 227.400-404). Funding portals register with the Commission by filing an application on Form Funding Portal, which requires information from the funding portal applicant, including information about the funding portal’s business, principals, control relationships, and employees. The Rule 400 series also requires, among other things, that funding portals make and keep records of compliance policies and procedures and make third party disclosures to become members of a national securities association. These requirements help ensure that the Commission has information to oversee funding portals and their activities in the crowdfunding securities market effectively.

US Code: 15 USC 78a et seq. Name of Law: Securities Exchange Act of 1934
   US Code: 15 USC 77a et seq. Name of Law: Securities Act of 1933
  
PL: Pub.L. 112 - 106 301-305 Name of Law: Jumpstart Our Business Startups Act

Not associated with rulemaking

  90 FR 11201 03/04/2025
90 FR 19771 05/09/2025
No

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 754 822 0 0 -68 0
Annual Time Burden (Hours) 36,315 36,775 0 0 -460 0
Annual Cost Burden (Dollars) 618,293 671,793 0 0 -53,500 0
No
No
The total estimated annual time burden decreased from 36,775 hours to 36,315 hours and the total estimated annual cost burden decreased from $671,793 to $618,293. This is primarily due to the fact that the estimated number of successful new funding portal registrations expected in each of the next three years decreased from 25 per year to 13 per year.

$0
No
    Yes
    No
No
No
No
No
Jane Wetterau 202 551-4483

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
05/09/2025


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