SEC begs to keep obscure investment form alive
Published Date: 10/13/2026
Notice
Summary
The SEC is asking to keep using Form N-54C, which lets certain investment companies tell the government when they stop being business development companies. About eight companies a year file this form, spending roughly one hour each, costing around $774 per filing. This extension keeps the process smooth with no big changes or extra costs, so companies can easily update their status when needed.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Mandatory Form N-54C Filing Costs
Certain business development companies must file Form N-54C to withdraw their election, and the SEC estimates about 8 filings per year. Each filing requires about 1 internal hour at an estimated $774 per hour (total internal cost $6,192 per year) plus an estimated $232 external cost per filing (total external cost $1,856 per year). The collection of information on Form N-54C is mandatory.
Form N-54C Information Not Confidential
Information you provide on Form N-54C is not kept confidential, meaning the SEC will not treat filings as confidential. This applies to any notification of withdrawal of election submitted on Form N-54C.
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