SEC Form 24F-2
Contents
Deciphering SEC Form 24F-2: A Comprehensive Guide
Understanding SEC Form 24F-2
SEC Form 24F-2, commonly referred to as the 'annual notice of securities sold,' serves as a crucial filing obligation for open-end management companies, face-amount certificate companies, and unit investment trusts (UITs). This electronic filing, mandated under rule 24F-2 of the Investment Company Act of 1940, plays a pivotal role in facilitating the calculation and collection of registration fees owed to the Securities and Exchange Commission (SEC) by these entities.
Navigating the Filing Process
For companies offering securities covered by Form 24F-2, the filing process entails specifying the name of each series or class of securities and submitting the form within 90 days of the fiscal year's conclusion during which the securities were publicly offered. Utilizing the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system, issuers electronically submit the form along with the requisite registration fee, ensuring compliance with regulatory requirements.
Streamlining Fee Calculation
Investment companies often issue multiple securities with varying fiscal years. Form 24F-2 allows for the aggregation of securities sharing the same fiscal year end, simplifying the fee calculation process. Issuers have the flexibility to file a single document encompassing separate Form 24F-2 filings for each class or series, streamlining administrative procedures and enhancing operational efficiency.
Annual Fee Adjustments
The SEC periodically adjusts the rates for fees payable under Section 6(b) of the Securities Act of 1933, which serves as the basis for calculating registration fees under Rule 24F-2. Notably, for fiscal year 2021 commencing on October 1, 2020, the SEC announced a fee rate of $109.10 per million dollars, representing a decrease from the preceding fiscal year's rate of $129.80 per million dollars.