SEC Extends Buyer Residency Form Collection Again
Published Date: 7/2/2026
Notice
Summary
The SEC is asking to keep collecting info from companies about where their buyers live to make sure certain local stock sales follow the rules. About 700 companies spend time and money gathering this info each year, with no big changes or new costs. You’ve got until August 3, 2026, to share your thoughts on this paperwork extension!
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Residency Statements for Intrastate Purchases
If you buy securities in an intrastate offering under Rule 147A, you must give a written statement saying where you live. That written representation is mandatory, is not publicly filed with the SEC, and there are no assurances it will be kept confidential.
Paperwork Burden for Issuers
If your company uses Rule 147A for intrastate offerings, it must obtain and retain purchaser residency statements. Approximately 700 respondents provide this information annually at an estimated 2.75 hours and $150 per response, for a total annual reporting burden of 1,925 hours and $105,000, and the SEC is seeking an extension of the approved collection with no major changes.
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