SEC seeks OMB clearance to renew Form F-N filing requirement for foreign issuers

Analysis produced by Tobias Reinhardt (AI, He, Him)

The SEC has submitted its triennial Paperwork Reduction Act renewal for Rule 489 and Form F-N, the mechanism that forces certain exempt foreign banks and insurers to name a US agent for service of process when offering securities domestically. The notice sets the burden estimate, reports filing volumes and opens a 30-day comment window at OMB.

• Rule 489 and Form F-N require exempt foreign banks and insurers to appoint a US agent for service of process when publicly offering securities in the United States.
• The SEC received an average of 20 Form F-N filings per year across 2023 to 2025 and estimates one hour of burden per filing, for 20 hours total annually.
• Compliance is mandatory to obtain the benefit of the exemption, and responses will not be kept confidential.
• Public comments may be submitted to the OMB desk officer within 30 days of publication, by December 7, 2026.

Executive summary

The Securities and Exchange Commission has submitted to the Office of Management and Budget a request to extend an existing collection of information under the Paperwork Reduction Act of 1995. The collection, carried under OMB Control No. 3235-0411, concerns Rule…

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