SEC Keeps Foreign Firms Filing Their One-Hour Agent Form
Published Date: 11/5/2026
Notice
Summary
The SEC is asking to keep collecting info from foreign banks and insurance companies that sell securities in the U.S. They must file Form F-N to name an agent for legal papers, which helps the SEC and others contact them if needed. This paperwork takes about an hour per filing, with around 20 filings yearly, and there’s no change in fees or deadlines.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Filing is mandatory and public
Compliance with Rule 489 and Form F‑N is mandatory to obtain the benefit of the exemption from the definition of investment company, and responses to the collection of information will not be kept confidential. The information is collected so the Commission and private plaintiffs may serve process on the foreign entities in actions and administrative proceedings arising from offers or sales of securities in the United States.
Foreign firms must file Form F‑N
If you are a foreign bank, foreign insurance company, or their holding company or finance subsidiary that is exempted from the definition of “investment company” by rules 3a-1, 3a-5, or 3a-6, you must file Form F‑N (17 CFR 239.43) under Rule 489 (17 CFR 230.489) to appoint an agent for service of process when making a public offering of securities in the United States. The form names an agent so the SEC and private plaintiffs can serve legal papers related to offers or sales of securities in the U.S.
Paperwork burden: ~20 filings, 20 hours
The SEC reports it received an average of 20 Form F‑N filings per year from 2023–2025, and estimates Form F‑N preparation and submission takes about 1 hour per filing, for an estimated total annual burden of 20 hours. This estimate is used for Paperwork Reduction Act purposes.
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