Upon Written Request, Copies Available From: Securities and Exchange Commission, Office of FOIA Services, 100 F Street NE, Washington, DC 20549-2736

Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange Commission (SEC or “Commission”) is soliciting comments on the proposed collection of information described below.

Rule 17f-2 (17 CFR 270.17f-2), entitled “Custody of Investments by Registered Management Investment Company,” was adopted in 1940 under section 17(f) of the Investment Company Act of 1940 (15 U.S.C. 80a-17(f)) (the “Act”), and was last amended materially in 1947. Rule 17f-2 establishes safeguards for arrangements in which a registered management investment company (“fund”) is deemed to maintain custody of its own assets, such as when the fund maintains its assets in a facility that provides safekeeping but not custodial services.^[1]

Form N-17f-2 (17 CFR 274.220) is entitled “Certificate of Accounting of Securities and Similar Investments in the Custody of Management Investment Companies.” Form N-17f-2 is the cover sheet for the accountant examination certificates prepared under rule 17f-2. Form N-17f-2 facilitates the filing process for accountant examination certificates. The form has a purely administrative purpose and does not require any additional information (beyond that required by rule 17f-2) to be collected. Form N-17f-2 increases the accessibility of the examination certificates to both Commission staff and interested investors by ensuring that the certificates are filed under the proper SEC file number and correct name of a fund.

The rule includes several recordkeeping or reporting requirements. The fund's directors must prepare a resolution designating not more than five fund officers or responsible employees who may have access to the fund's assets. The designated access persons (two or more of whom must act jointly when handling fund assets) must prepare a written notation providing certain information about each deposit or withdrawal of fund assets, and must transmit the notation to another officer or director designated by the directors. Independent public accountants must verify the fund's assets three times each year, and two of those examinations must be unscheduled.^[2]

We estimate that approximately 194 funds file Form N-17f-2 each year,^[3] and that it takes approximately 2 hours per response to prepare and file Form N-17f-2 with the Commission. Commission staff further estimates that on average each fund files Form N-17f-2 approximately three times a year for a total annual hourly burden per fund of approximately 6 hours. Thus, the total annual burden for preparing and filing Form N-17f-2 is approximately 1,160 hours (an increase from the previously approved 990 hours). Commission staff estimates that it takes on average 1.25 hours of fund accountants at a cost of $243 per hour to prepare each Form N-17f-2 and 0.75 hours of clerical time at a cost of $125 per hour to file the form with the Commission for a total annual cost per fund of approximately $1,192.50. Therefore we estimate the total cost of the hour burden for filing Form N-17f-2's collection of information requirements to be approximately $231,345.

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid OMB Control Number.

Written comments are invited on: (a) whether this proposed collection of information is necessary for the proper performance of the functions of the SEC, including whether the information will have practical utility; (b) the accuracy of the SEC's estimate of the burden imposed by the proposed collection of information, including the validity of the methodology and the assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of ( printed page 51515) information on respondents, including through the use of automated, electronic collection techniques or other forms of information technology.

Please direct your written comments on this 60-Day Collection Notice to Austin Gerig, Director/Chief Data Officer, Securities and Exchange Commission, c/o Tanya Ruttenberg via email to PaperworkReductionAct@sec.gov by October 9, 2026.