The Securities and Exchange Commission (SEC) is seeking an extension on the approval for collecting information via Form ID, as required by the Paperwork Reduction Act of 1995. Individuals and companies use Form ID to gain access to file on the SEC's EDGAR system, which is crucial for making certain disclosures under federal securities laws. Each year, about 73,600 Form ID submissions are expected, with each taking about 0.6 hours to complete, resulting in a total of 44,160 hours of effort annually. The public can review and comment on this information collection request through the provided online link or via email by March 27, 2025.
Simple Explanation
The SEC wants to keep using a form that helps people and companies do important paperwork online, and they need people to share their opinions about this by March 27, 2025.