Form N-23C3A Files Dataset

The Form N-23C3A Files Dataset packages every EDGAR submission of Form N-23C3A and its amendment variant Form N-23C3A/A — the periodic-repurchase notifications filed by closed-end interval funds under Rule 23c-3(b) of the Investment Company Act of 1940. One record represents one accession-level submission accepted by EDGAR, identified by an 18-digit accession number and delivered as a self-contained folder inside the dataset's monthly ZIP partitions. Each record carries a synthetic metadata.json filing-header object and the original primary document — modern HTML or, for pre-HTML-era filings, ASCII — that the fund transmitted to EDGAR. The legal filer is always the registrant fund itself, typically a Delaware statutory trust, Massachusetts business trust, or Maryland corporation organized as an interval fund. Coverage runs from March 1998 — when EDGAR availability followed the Commission's 1993 adoption of Rule 23c-3 — through the most recent monthly refresh, with the dataset distributed in monthly ZIP containers built from TXT, JSON, and HTML files.

Update Frequency
Daily
Updated at
2026-05-20
Earliest Sample Date
1998-03-01
Total Size
54.7 MB
Total Records
4,745
Container Format
ZIP
Content Types
TXT, JSON, HTML
Form Types
N-23C3A, N-23C3A/A

Dataset APIs

Programmatically retrieve the full list of dataset archive files, download URLs and dataset metadata.

Dataset Index JSON API

Download the entire dataset as a single archive file.

Download Entire Dataset:

Download a single container file (e.g. monthly archive) from the dataset.

Download Single Container:

Dataset Files

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What This Dataset Contains

The dataset captures notifications of pre-committed periodic repurchase offers by interval funds. Form N-23C3A is a short-form notice filed pursuant to Rule 23c-3 under the Investment Company Act of 1940. Rule 23c-3 provides an exception to Section 23(c)'s general prohibition on closed-end funds repurchasing their own shares, allowing a registered closed-end management investment company to make periodic repurchase offers at net asset value provided it has adopted a fundamental policy disclosing the percentage of outstanding shares offered for repurchase and the periodicity of those offers. Each time such a fund triggers an offer it must notify the Commission on Form N-23C3A. The form supports three offer types, one of which the filer elects on the cover page: a paragraph (b) periodic offer driven by the fundamental policy, a paragraph (c) discretionary one-off offer permitted under specified conditions, or a combined (b)+(c) offer.

The form is intentionally minimal — it functions as a regulatory notice rather than a disclosure document. It contains no financial statements, audit reports, or portfolio holdings. Its substantive content is the cover-page identification of the fund plus a Shareholder Repurchase Offer Notice carried as a single text body inside the same HTML file. The amendment variant, Form N-23C3A/A, is filed when terms or identifying information in a previously transmitted notice must be corrected — for example, a misstated Repurchase Pricing Date or a mistyped percentage.

The dataset is distributed as monthly ZIP containers spanning March 1998 to the present. Each accession folder bundles the synthetic metadata.json header and the primary Form N-23C3A document; image attachments referenced by the submission — typically scanned signature pages or fund logos transmitted as JPG GRAPHIC exhibits — are excluded from the local bundle but remain reachable through URLs preserved in the metadata.

Content Structure of a Single Record

What one record represents

One record in the Form N-23C3A Files Dataset is a single EDGAR submission of either a Form N-23C3A periodic-repurchase notification or a Form N-23C3A/A amendment to a prior notification. The record unit is the full accession-level submission as accepted by EDGAR, identified by an 18-digit accession number and packaged as a single folder inside the dataset's monthly ZIP partitions. Each accession folder is self-contained: it carries a synthetic metadata.json filing-header object describing the submission and its filer, alongside the original primary HTML (or, for pre-HTML-era filings, ASCII) document submitted to EDGAR.

Structural layers of a single record

A single record has two structural layers:

  1. A dataset-packaging layer — the accession folder, the metadata.json filing-header object, and the bundled primary document.
  2. The original SEC filing layer — an SGML submission envelope around the Form N-23C3A document, which in turn contains the cover-page items and the Shareholder Repurchase Offer Notice.

The folder is named with the zero-padded, dash-stripped accession number (e.g. accession 0001687898-25-000007 becomes folder 000168789825000007). Inside, two files appear in the typical modern case: metadata.json and a single primary .htm document whose filename is filer-chosen and not standardized. Observed filename patterns reveal the authoring toolchain — filer-tag forms such as oaktree_n23c3a.htm or lindcapital_n23c3a.htm; RR Donnelley printer-job slugs such as d944257dn23c3a.htm and tm2518999d1_n23c3a.htm; and Toppan Merrill / EdgarAgents slugs such as ea0249781-01_n23c3a.htm and fp0094218-1_n23c3a.htm. The file-types found in the dataset are TXT, JSON, and HTML; in practice modern accessions resolve to a single HTML document plus the JSON manifest, while pre-HTML-era accessions resolve to ASCII TXT bodies inside the same SGML envelope.

The metadata.json header object

metadata.json is a filing-header object built from the EDGAR submission header and indexes. It carries scalar identifiers plus structured arrays describing the submission's documents and the filer entity.

Scalar fields include:

  • formType — always N-23C3A or N-23C3A/A.
  • accessionNo — dashed EDGAR accession (e.g. 0001687898-25-000007).
  • effectivenessDate — acceptance date in YYYY-MM-DD form.
  • filedAt — ISO-8601 submission timestamp with an Eastern (-04:00/-05:00) offset.
  • periodOfReport — typically the same day as, or within a day of, filedAt for a notice of this kind.
  • description — static label, "Form N-23C3A - Notification of periodic repurchase offer [Rule 23c-3(b) only]".
  • linkToFilingDetails — EDGAR URL of the primary HTML document.
  • linkToTxt — EDGAR URL of the full SGML submission text file.
  • linkToHtml — EDGAR URL of the submission-index page.
  • linkToXbrl — empty (Form N-23C3A carries no XBRL tagging).
  • id — a stable 32-character hex primary key.

The documentFormatFiles array enumerates each document attached to the EDGAR submission. Each element carries:

  • sequence"1" for the primary Form N-23C3A document; "2", "3", ... for graphics or supplemental exhibits; and a single trailing entry with a space-valued sequence for the full submission text file.
  • documentUrl — the EDGAR URL of the document.
  • description — typically "N-23C3A", "REPURCHASE OFFER NOTICE", "GRAPHIC", or "Complete submission text file".
  • type — the EDGAR document type: N-23C3A, GRAPHIC, or a space for the submission .txt.
  • size — byte count, expressed as a string.

GRAPHIC entries describe image attachments that are stripped from the local ZIP bundle; their URLs remain valid for re-fetching from EDGAR. The dataFiles array — reserved for R-files and structured XBRL data — is empty for Form N-23C3A. The seriesAndClassesContractsInformation array, used by EDGAR for series/class trust filings, is also empty for this form; filer identification flows through the entities array instead.

The entities array carries one or more filer-header blocks. The primary entity describes the fund itself:

  • companyName — registered fund name with the EDGAR role suffix "(Filer)" appended.
  • cik — 7- to 10-digit CIK with no leading zeros.
  • irsNo — nine-digit EIN, "000000000" when none is on file.
  • fileNo — the 817-prefix Investment Company Act §17(f) custody file number assigned to the fund.
  • filmNo — the EDGAR film number for the acceptance.
  • stateOfIncorporation — two-letter state code, omitted when EDGAR has none on record.
  • fiscalYearEndMMDD form (e.g. "0331", "1231").
  • act — always "40" for the Investment Company Act of 1940.
  • type — echoes the form type.
  • tickers — an array of ticker symbols across all share classes of the fund; a single-class fund carries one ticker, while multi-class interval funds such as Invesco Senior Loan Fund carry several (for example ["VSLAX","VSLCX","VSLYX","XSLCX","XPRTX"]).

The primary Form N-23C3A document

The single primary .htm file is the EDGAR-standard SGML submission unit. Its outer envelope is the canonical <DOCUMENT> block with header tags identifying the type (<TYPE>N-23C3A or <TYPE>N-23C3A/A), sequence (<SEQUENCE>1), filename, and a one-line <DESCRIPTION> (typically REPURCHASE OFFER NOTICE), followed by a <TEXT> block whose contents render the form body. In modern filings the body of <TEXT> is inline-styled HTML; in older filings it is plain ASCII text.

Internally the form body maps directly to the regulatory layout of Form N-23C3A: a five-item cover page followed by the Shareholder Repurchase Offer Notice.

Cover-page items (numbered 1 through 5)

  1. Investment Company Act File Number. The fund's 811-prefix registration file number under §8(b) of the Investment Company Act (e.g. 811-23201, 811-23712). This is distinct from the 817-prefix file number carried in entities[].fileNo in the metadata; the 811- value identifies the registered investment company itself, while the 817- value identifies the §17(f) custody filing tracker. The two are not interchangeable and must be carried as separate fields by any extractor.
  2. Exact name of investment company. The full registered name of the fund, typically rendered in upper case.
  3. Address of principal executive office. Street, city, state, and ZIP of the fund's principal office; this often matches the adviser address rather than a separate fund address.
  4. Type-of-offer election ("Check one of the following"). Three mutually exclusive checkboxes correspond to (A) a periodic repurchase offer under Rule 23c-3(b), (B) a discretionary repurchase offer under Rule 23c-3(c), or (C) a combined (b)+(c) offer. The encoding is filer- and toolchain-dependent: Broadridge and RR Donnelley filings typically use Wingdings glyphs (&#9746; for a checked box, &#9744; for an unchecked box), while Toppan Merrill / EdgarAgents filings often use bracketed ASCII ([X] and [ ]). Reliable extraction of which box is checked therefore requires sniffing both glyph and bracket conventions.
  5. Signature block. A /s/ electronic signature line, the printed name of the signatory, and the signatory's title — typically the fund's Chief Financial Officer, Secretary, Treasurer, or Principal Financial Officer rather than the Chief Executive Officer. Wet-ink signature images, when present, are referenced as GRAPHIC attachments and stripped from the local bundle.

Shareholder Repurchase Offer Notice and Repurchase Offer Terms

After a page break the document continues with the Shareholder Repurchase Offer Notice and the multi-paragraph Repurchase Offer Terms — the substantive disclosures conveyed to shareholders. This section discloses:

  • the percentage of outstanding shares offered for repurchase (5 percent is the conventional figure, reflecting the floor set by Rule 23c-3(b)(2));
  • the Repurchase Request Deadline by which shareholders must tender;
  • the Repurchase Pricing Date on which net asset value is struck;
  • the Repurchase Payment Deadline;
  • the NAV determination mechanics;
  • instructions for tendering or withdrawing tenders;
  • any repurchase fee (capped at 2 percent by the rule); and
  • the fund's right to suspend or postpone the offer under the enumerated circumstances in Rule 23c-3(b)(3).

On multi-class funds these terms apply equally across all share classes. The narrative is short — typically one or two pages — and is the principal text body addressable by downstream NLP and information-extraction pipelines.

What the dataset record includes

Each accession folder contains the synthetic metadata.json header object and the primary Form N-23C3A document, with the latter wrapped in its EDGAR SGML envelope and carrying the full cover page and Shareholder Repurchase Offer Notice. The metadata preserves the EDGAR submission's full document manifest, so the existence and original URLs of any stripped graphics or supplemental attachments remain reconstructable even when the binary content is not bundled locally.

What is excluded or kept separate

Image files — predominantly the JPG GRAPHIC attachments that accompany scanned signature pages or fund logos — are deliberately stripped from the ZIP packaging. They are described in metadata.json via documentFormatFiles entries of type GRAPHIC, and their EDGAR URLs remain valid for separate retrieval. The full SGML submission .txt file enumerated in documentFormatFiles is not duplicated inside the folder; only its EDGAR URL is preserved. Form N-23C3A carries no XBRL data, so no R*.htm, Financial_Report.xlsx, or *.xml instance documents exist to package. The dataset record is the Form N-23C3A notice itself; it does not bundle the fund's registration statement (Form N-2), prospectus, annual or semi-annual reports, or related N-CSR / N-PX filings, even though those documents form the broader disclosure context in which the repurchase offer sits.

Changes in required content and structure over time

The structural layout of Form N-23C3A has been remarkably stable since the SEC adopted Rule 23c-3 in 1993 and the form was implemented for EDGAR in the late 1990s. The five-item cover page plus signature block, the three-way election among paragraph (b), paragraph (c), or combined offers, and the Shareholder Repurchase Offer Notice with its enumerated terms have remained the substantive backbone across the entire 1998-to-present span the dataset covers. Periodic technical amendments to Rule 23c-3 — including modernization of permitted repurchase fee disclosures, the Commission's 2003 guidance on suspension and postponement, and adjacent reforms affecting interval fund liquidity reporting — have not altered the structural items of the form itself. The N-23C3A/A amendment variant follows the same five-item layout. The amendment-vs-original distinction shows up only in formType (and in the trailing /A segment of the EDGAR file path); the folder layout, document anatomy, and metadata schema are identical.

Changes in data format over time

The dataset spans March 1998 to the present, crossing the EDGAR transition from ASCII-only filings to richly formatted HTML. Across that span the outer SGML <DOCUMENT>…<TEXT> envelope is canonical and unchanged — extraction code can rely on <TYPE>N-23C3A or <TYPE>N-23C3A/A as the stable document-boundary marker. Inside <TEXT>, however, the body format varies materially:

  • Filings from the late 1990s and early 2000s are typically plain ASCII, with form items rendered as numbered paragraphs and checkboxes encoded as [X] or [ ] brackets. They contain no HTML, no styling, and no inline graphics.
  • Filings from roughly the mid-2000s onward are HTML, with the printer's toolchain visible in the markup. Three authoring stacks dominate the modern era and are detectable from comments, class names, and filename slugs:
    • Broadridge PROfile — marker comment <!-- Document created using Broadridge PROfile … --> and class prefixes such as BRPFPageBreak.
    • RR Donnelley / Donnelley Financial — capitalized HTML tags, minimal class soup, slug filenames such as d944257dn23c3a.htm and tm2518999d1_n23c3a.htm.
    • Toppan Merrill / EdgarAgents — heavy _idGenObjectStyleOverride-* and _idGenTableRowColumn-* Adobe-InDesign-exported class names, Wingdings glyphs for checkboxes, slug filenames such as ea0249781-01_n23c3a.htm and fp0094218-1_n23c3a.htm.
  • The checkbox encoding for cover-page item 4 is the most format-sensitive element. Modern Broadridge and Donnelley outputs typically use Wingdings entities (&#9746; / &#9744;), while Toppan Merrill / EdgarAgents and older ASCII filings use bracketed text ([X] / [ ]). Robust extraction must accept either convention.

Because the body inside <TEXT> may be ASCII, lightly formatted HTML, or heavily styled HTML depending on era and printer, extractors should treat the SGML wrapper as the canonical boundary and then sniff the body for HTML versus plain text rather than assuming well-formed HTML throughout the corpus.

Interpretation notes

  • Two file numbers per filing. Each record carries two distinct file numbers that must not be confused: entities[].fileNo in metadata.json is the 817-prefix §17(f) custody file, while cover-page item 1 inside the document body is the 811-prefix Investment Company Act registration file. The 811- number is the durable identifier of the registered investment company and is the appropriate join key to other Investment Company Act filings (N-2, N-CSR, N-PX).
  • Multi-class funds. Series/class structure is signalled by a tickers array of length greater than one. Multi-class interval funds still file a single accession with one primary .htm; the repurchase offer terms apply across all classes, and no series/class break-out structure is encoded in seriesAndClassesContractsInformation.
  • Amendments. N-23C3A/A filings share the same folder layout and document anatomy as originals; only formType and certain timestamp fields differ. Linking an amendment to the prior notification requires matching on CIK and periodOfReport, because there is no native parent-accession field.
  • Missing graphics. Where documentFormatFiles lists GRAPHIC entries, those binaries are absent from the local bundle. Treat their documentUrl as authoritative and re-fetch from EDGAR if image content is needed (for example, to recover a wet-ink signature image referenced from the signature block).
  • Signatory roles. The signatory is rarely the CEO; expect CFO, Secretary, Treasurer, or Principal Financial Officer titles. This matters when joining the dataset against officer/director rosters from N-CSR or DEF 14A filings.
  • Repurchase mechanics are conventional but not universal. The 5-percent figure, the same-day or one-day-apart Repurchase Request Deadline and Repurchase Pricing Date, and the roughly seven-day payment cycle are the modal pattern but not regulatory minima beyond the floor in Rule 23c-3(b)(2). Extractors should never hard-code the 5-percent assumption; the explicit percentage and dates in the Shareholder Repurchase Offer Notice are the authoritative values.
  • Structured-data surface. All structured fields available for analysis come from metadata.json plus whatever is extracted from the HTML or ASCII body; the empty linkToXbrl and empty dataFiles array are intentional features of the form, not data-loss artifacts.

Who Files or Publishes This Dataset, and When

Who files the record

Each record is a Form N-23C3A (or its amendment, N-23C3A/A) submitted to EDGAR by a registered closed-end management investment company that has adopted a fundamental policy under Rule 23c-3 of the Investment Company Act of 1940 committing the fund to periodic offers to repurchase a portion of its outstanding shares at net asset value. In industry usage, these issuers are interval funds.

The filer is always the fund itself. The investment adviser, principal underwriter, transfer agent, fund administrator, or filing agent may prepare and transmit the filing, but the legal filer and CIK belong to the registrant fund.

Filing population

In scope:

  • Registered closed-end management investment companies (typically Delaware statutory trusts, Massachusetts business trusts, or Maryland corporations) registered on Form N-2.
  • Within that universe, only funds that have adopted a Rule 23c-3 fundamental policy committing to periodic repurchase offers at fixed intervals of three, six, or twelve months.
  • Strategies commonly include credit, real estate, private equity, infrastructure, and hedge fund-of-funds vehicles unsuited to daily-redemption open-end structures.

Out of scope:

A single adviser complex may sponsor multiple interval funds, so many records can trace back to the same sponsor; each filing is attributed to one registrant CIK.

Triggering event and schedule

Form N-23C3A is not a periodic report in the calendar sense. It is event-driven within a recurring cadence set by the fund's fundamental policy. The trigger for each filing is the commencement of an individual periodic repurchase offer.

Under Rule 23c-3(b), the fund must:

  1. Send a shareholder notification describing the upcoming offer no less than 21 days and no more than 42 days before the repurchase request deadline.
  2. File Form N-23C3A on EDGAR within three business days after sending that notification.

Each offer produces one filing. Most interval funds run on a quarterly cadence and therefore generate roughly four N-23C3A filings per year; semi-annual or annual funds produce two or one. The interval is fixed by the fundamental policy; the repurchase percentage (5%-25% of outstanding shares) can vary within Rule 23c-3 bounds.

N-23C3A/A amendments arise when the fund must correct or update a previously noticed offer — for example, revised dates, pricing terms, or repurchase percentage — before the pricing date. Amendments have no fixed deadline but are filed promptly.

Timing chain for one filing

  1. Board sets the terms of the next periodic offer (offer percentage, request deadline, pricing date, payment date).
  2. Fund transmits the shareholder notification 21-42 days before the repurchase request deadline.
  3. Fund files N-23C3A on EDGAR within three business days of that transmission.
  4. Repurchase pricing date occurs (no more than 14 days after the request deadline).
  5. Payment to tendering shareholders within seven days after pricing.

The EDGAR filing date therefore typically falls roughly three to six weeks before the corresponding repurchase pricing date.

Regulatory basis

The filing obligation flows from Rule 23c-3 under the Investment Company Act of 1940 ("Repurchase Offers by Closed-End Companies"), adopted in 1993. Rule 23c-3 exempts qualifying funds from Section 23(c)'s general restriction on closed-end repurchases, conditioned on the fundamental policy and on the notification, pricing, payment, and liquidity requirements that generate these records.

The notification-form family:

  • N-23C3A — notice of a repurchase offer made pursuant to the fundamental policy (this dataset).
  • Form N-23C3B — notice of a discretionary repurchase offer under Rule 23c-3(c).
  • Form N-23C3C — notice combining periodic and discretionary offers.

Only N-23C3A and its amendments populate this dataset. The form is filed under the 1940 Act, not the Securities Act or Exchange Act, and is a short cover-style notification rather than a prospectus or financial statement filing. The earliest records in the dataset date to March 1998, reflecting EDGAR availability after the rule took effect.

Important distinctions

  • Filer vs. preparer. The fund is the legal filer; counsel, adviser, or filing agent typically prepares and transmits the submission.
  • N-23C3A vs. N-2. N-2 is the registration statement and prospectus; N-23C3A is only the per-offer notification and contains no financials or full prospectus content.
  • N-23C3A vs. Schedule TO. Discretionary tender offer repurchases by closed-end funds or BDCs under Rule 13e-4 use Schedule TO. The dividing line is whether the repurchase is made under a Rule 23c-3 fundamental policy.
  • N-23C3A vs. N-23C3B / N-23C3C. Discretionary or combined offers under Rule 23c-3(c) use the sibling forms and are excluded here.
  • Multi-series structures. Where one registrant houses multiple interval-fund series, each series files its own N-23C3A per offer, sometimes under a shared CIK with the series identified inside the filing.
  • Not an offering document. N-23C3A announces an opportunity to tender shares but is a 1940 Act notification, not a Securities Act registration of the repurchase.

How This Dataset Differs From Similar Datasets or Filings

Form N-23C3A occupies a narrow slot: notifications of pre-committed periodic repurchase offers by interval funds under Rule 23c-3(b) of the Investment Company Act of 1940. The most useful comparisons are its sibling N-23C3 variants, the upstream N-2 registration, the periodic N-CSR report, and the Exchange Act issuer tender offers regime under Rule 13e-4 (Schedule TO-I).

Form N-23C3B Files Dataset

The direct sibling. N-23C3B covers discretionary repurchase offers under Rule 23c-3(c), not the pre-committed periodic offers under 23c-3(b) that drive N-23C3A. Field structure is nearly identical (fund name, registration number, repurchase percentage, pricing date, deadline), but the underlying fund model differs: N-23C3A filers run a fixed periodic repurchase schedule embedded in their fundamental policy, while N-23C3B filers act at board discretion. For interval-fund cadence analysis, N-23C3B is not a substitute.

Form N-23C3C Files Dataset

Combined notifications under both Rule 23c-3(b) and (c), used by funds running periodic and discretionary programs in the same offer cycle. Population is much smaller than N-23C3A. Treat N-23C3A, B, and C as complementary slices of one regulatory family rather than interchangeable sources.

Form N-2 (and N-2/A)

The closed-end fund registration statement and prospectus. N-2 establishes the repurchase policy, percentage range, and frequency that each N-23C3A notification later operationalizes. N-2 is narrative and prospectus-style; N-23C3A is short, event-specific, and per-offer. N-2 tells you whether a fund is an interval fund and how its mechanics are designed; N-23C3A tells you when each offer fires, its size, and its key dates. Complementary, never interchangeable.

Form N-CSR (Certified Shareholder Reports)

Semi-annual certified shareholder report containing financial statements, holdings, and MD&A for registered funds. N-CSR reports repurchase activity in aggregate (shares repurchased, amounts paid, occasionally participation rates) but never announces individual offers, deadlines, or pricing dates. N-23C3A is forward-looking and event-level; N-CSR is backward-looking and period-level. Use N-CSR for financial context around a repurchase program; use N-23C3A for the offer events themselves.

Schedule TO-I (Rule 13e-4 issuer tender offers)

The closest non-N-series analog in economic substance: both announce an issuer offer to buy back its own shares. The regulatory regimes diverge sharply. Schedule TO-I is governed by Exchange Act tender offer rules and requires an offer-to-purchase document, transmittal letter, withdrawal rights under Rule 14e-1, and Section 14(e) anti-fraud compliance. Rule 23c-3 expressly exempts interval-fund periodic repurchases from most of those requirements, which is why N-23C3A is a brief notification rather than a full tender package. A closed-end fund running a one-off self-tender outside Rule 23c-3 would file on Schedule TO-I; an interval fund running its scheduled repurchase files N-23C3A. Filer populations are largely disjoint.

Other Section 23(c) filings (N-23C-1, N-23C-2)

Same statutory lineage but different transactions, covering fund repurchases of senior securities and other Section 23(c) categories. They do not substitute for Rule 23c-3 periodic repurchase notifications.

Key differences at a glance

  • Trigger: N-23C3A fires on each pre-committed periodic offer; N-23C3B on discretionary offers; N-2 on registration; N-CSR on a fixed semi-annual cycle; Schedule TO-I on any Rule 13e-4 issuer tender.
  • Filer: N-23C3A is interval funds only. Schedule TO-I is operating companies and non-interval funds. N-CSR and N-2 cover all registered management investment companies.
  • Content depth: N-23C3A is a brief procedural notification. N-2 is a full prospectus. N-CSR is full financial reporting. Schedule TO-I is a full tender offer package.
  • Temporal orientation: N-23C3A is forward-looking per offer. N-CSR is backward-looking per period. N-2 is structural and largely static between amendments.

Boundary summary

The N-23C3A Files Dataset is distinct because it captures a single, repeating regulatory event: a periodic repurchase offer notification by an interval fund under Rule 23c-3(b). It is narrower than N-2 (no policy framework), narrower than N-CSR (no financial reporting), narrower than Schedule TO-I (no tender offer mechanics), and operationally separate from N-23C3B and N-23C3C despite the shared form family. Use it when the question concerns the timing, frequency, size percentage, or pricing dates of interval-fund repurchase offers as discrete events; pair it with N-CSR, N-2, or Schedule TO filings when the question moves to financial impact, policy design, or non-interval issuer tenders.

Who Uses This Dataset

The dataset is used by professionals who build, run, advise, monitor, or invest in interval funds and similar closed-end vehicles that offer liquidity through scheduled repurchases rather than daily redemptions.

Interval fund compliance officers

Compliance teams at advisers and sub-advisers verify their own filing cadence, repurchase percentages, pricing dates, and tender deadlines against Rule 23c-3 and peer practice. The notification date, request deadline, pricing date, and percentage offered feed periodic compliance testing, calendar reconciliation against board-adopted fundamental policies, and Rule 38a-1 program reviews.

Investment Company Act counsel

Fund counsel structuring or amending interval funds benchmark drafting conventions for repurchase notifications, validate sequencing against the 14-day maximum between request deadline and pricing date, and study how N-23C3A/A amendments are used to correct prior notices. This supports offering documents, board memos, and shareholder notifications.

Fund administration and operations teams

Administrators, transfer agents, and adviser operations groups study how peer funds schedule and disclose repurchase windows. The pricing date, request deadline, and offered percentage drive NAV strike calendars, transfer agent cutoffs, vendor SLAs, and cash planning to fund tendered shares.

Liquidity risk managers and fund treasury

Liquidity teams at interval fund, tender offer fund, and hybrid closed-end fund advisers use prevailing percentages (typically 5 percent quarterly) and notification cadence to model expected outflows, size liquidity sleeves, and decide whether to seek a discretionary increase in a given period. Output flows into board liquidity reporting.

RIA and broker-dealer due diligence analysts

Product gatekeepers approving interval funds for client portfolios confirm that funds actually conduct repurchase offers on the represented schedule and surface amendments that may signal operational issues. Filing frequency per CIK, percentage consistency, and the notification-to-pricing gap support approved-product list maintenance and ongoing suitability monitoring.

Closed-end and interval fund research analysts

Sell-side and independent analysts covering interval funds, non-listed BDCs, and other periodic-liquidity vehicles build calendars of upcoming liquidity events and track shifts in repurchase terms across sponsors. Issuer identity, repurchase percentage, and pricing date feed research notes and category commentary.

Secondary market intermediaries

Firms facilitating secondary transfers of interval and non-traded fund shares use pricing dates, tender deadlines, and offered percentages to price secondary transactions and advise holders on whether to tender at NAV or sell in the secondary market.

Institutional allocators

Allocators at endowments, foundations, family offices, insurance general accounts, and pension plans holding interval fund positions verify actual repurchase cadence, plan cash needs around pricing dates, and document the realized liquidity profile of semi-liquid holdings for investment committee reporting.

Independent trustees and board counsel

Fund boards, working through CCOs and board counsel, use aggregated N-23C3A views to benchmark their fund's repurchase practice against peers, particularly when considering changes to the fundamental policy on repurchase frequency or percentage.

Reference-data and fund data engineers

Engineering teams at fund administrators, market data vendors, and asset managers parse the metadata file to build structured tables of historical repurchase events, reconciling the N-23C3A and N-23C3A/A streams and joining on CIK. These feeds power internal event calendars and downstream compliance, operations, and research applications.

Academic and policy researchers

Researchers studying interval fund growth, Rule 23c-3 as a liquidity mechanism, and semi-liquid retail product design use the full 1998-forward history to construct longitudinal panels of repurchase activity, filer counts, and percentage trends.

Regulatory examiners

Examination staff covering registered funds confirm that funds subject to Rule 23c-3(b) filed timely notifications for each scheduled repurchase, identify gaps or amendments, and cross-reference disclosed terms with prospectus representations and shareholder communications.

Specific Use Cases

The Form N-23C3A Files Dataset supports a small set of concrete workflows built around the five operational fields each notice carries: issuer CIK, repurchase percentage, Repurchase Request Deadline, Repurchase Pricing Date, and notification date.

Building an interval-fund repurchase event calendar

Parse metadata.json for cik, formType, and filedAt across the full corpus, then extract the Repurchase Request Deadline, Repurchase Pricing Date, and offered percentage from the Shareholder Repurchase Offer Notice body. The output is a per-CIK time series of repurchase events that feeds research dashboards, secondary-market pricing tools, and allocator cash-planning workflows tied to upcoming pricing dates.

Compliance cadence and peer-benchmark testing

Group filings by entities[].cik and bucket by quarter using periodOfReport to verify that each interval fund filed a notification for every scheduled offer cycle defined in its fundamental policy. Compliance teams use this to detect missed or late notices, to confirm the request-deadline-to-pricing-date gap stays within the 14-day Rule 23c-3 ceiling, and to benchmark a fund's offered percentage against peer interval funds in the same Lipper or Morningstar category.

Tracking amendments to diagnose operational issues

Filter on formType = "N-23C3A/A" and join each amendment to its parent notice by matching CIK plus periodOfReport (no native parent-accession link exists). Diffing the original and amended cover-page items 1 through 5 and the Repurchase Offer Terms surfaces which fields were corrected — typically Repurchase Pricing Date, offered percentage, or signatory — and supports RIA due diligence flags, board-level operational reviews, and counsel's library of amendment precedents.

Longitudinal liquidity-policy research

Use the 1998-to-present span to build panels of offered percentages, offer frequency per CIK, and filer counts per year. Academic and policy researchers correlate these series with Rule 23c-3 amendments, interval-fund AUM growth, and the introduction of new sponsors to study how the periodic-repurchase mechanism has evolved as a retail-liquidity tool.

Linking repurchase events to fund identity and adjacent filings

Pull cover-page item 1 (the 811-prefix Investment Company Act file number) from the document body and the tickers array from metadata.json to join each notification to N-2 registration statements, N-CSR shareholder reports, and N-PX voting records for the same fund. This supports research workflows that combine event-level offer terms from N-23C3A with policy framework from N-2 and aggregate repurchase impact from N-CSR.

Group accessions by primary-document filename slug and HTML markers (BRPFPageBreak, RR Donnelley slug patterns, Toppan Merrill _idGenObjectStyleOverride-* classes) to map which interval-fund sponsors use which EDGAR printer toolchains. Reference-data teams use this to tune extraction parsers — particularly the checkbox-encoding sniffer for cover-page item 4, where Wingdings glyphs and bracketed ASCII coexist across the corpus.

Dataset Access

The dataset is accessible through a JSON index endpoint that lists all containers and their metadata, a single archive download for the entire dataset, and direct download URLs for individual container files.

Dataset Index JSON API: https://api.sec-api.io/datasets/form-n23c3a-files.json

This endpoint returns dataset-level metadata (name, description, last updated timestamp, earliest sample date, total records and total size, covered form types, container format, and file types), the download URL for the full dataset archive, and the full list of container files with per-container size, record count, updated timestamp, and download URL. The endpoint does not require an API key and can be polled regularly to detect which containers were modified in the most recent refresh run, so that only updated containers need to be re-downloaded.

Example response:

Example
1 {
2 "datasetId": "1f13365b-9ae0-6961-8c2f-a4b5bab0f104",
3 "datasetDownloadUrl": "https://api.sec-api.io/datasets/form-n23c3a-files.zip",
4 "name": "Form N-23C3A Files Dataset",
5 "updatedAt": "2026-05-16T03:02:29.918Z",
6 "earliestSampleDate": "1998-03-01",
7 "totalRecords": 4732,
8 "totalSize": 54610870,
9 "formTypes": ["N-23C3A", "N-23C3A/A"],
10 "containerFormat": "ZIP",
11 "fileTypes": ["TXT", "JSON", "HTML"],
12 "containers": [
13 {
14 "downloadUrl": "https://api.sec-api.io/datasets/form-n23c3a-files/2026/2026-05.zip",
15 "key": "2026/2026-05.zip",
16 "size": 412874,
17 "records": 38,
18 "updatedAt": "2026-05-16T03:02:29.918Z"
19 }
20 ]
21 }

Download Entire Dataset: https://api.sec-api.io/datasets/form-n23c3a-files.zip?token=YOUR_API_KEY

Downloads the complete dataset as a single ZIP archive containing every monthly container from March 1998 to the latest refresh. This endpoint requires a valid API key.

Download Single Container: https://api.sec-api.io/datasets/form-n23c3a-files/2026/2026-05.zip?token=YOUR_API_KEY

Downloads one individual monthly container instead of the full dataset, which is useful for incremental updates or for retrieving filings from a specific month only. This endpoint requires a valid API key.

Frequently Asked Questions

What form does this dataset cover?

The dataset covers Form N-23C3A and its amendment variant Form N-23C3A/A — the periodic-repurchase notifications filed by closed-end interval funds on EDGAR. The sibling forms N-23C3B (discretionary offers under Rule 23c-3(c)) and N-23C3C (combined periodic and discretionary offers) are excluded.

What does one record in this dataset represent?

One record is a single EDGAR submission of a Form N-23C3A or N-23C3A/A, identified by an 18-digit accession number and packaged as a self-contained folder. Each folder carries a synthetic metadata.json filing-header object and the original primary HTML (or, for pre-HTML-era filings, ASCII) document submitted to EDGAR.

Who is required to file Form N-23C3A?

The filer is always the registrant fund itself — a registered closed-end management investment company (typically a Delaware statutory trust, Massachusetts business trust, or Maryland corporation) that has adopted a fundamental policy under Rule 23c-3 of the Investment Company Act of 1940 committing it to periodic repurchase offers. These issuers are known industry-wide as interval funds. The investment adviser, principal underwriter, transfer agent, fund administrator, or filing agent may prepare and transmit the filing, but the legal filer and CIK belong to the fund.

How often are records added?

Form N-23C3A is event-driven within a recurring cadence set by the fund's fundamental policy. Most interval funds run on a quarterly cadence and generate roughly four N-23C3A filings per year; semi-annual or annual funds produce two or one. The fund must file on EDGAR within three business days of sending the corresponding shareholder notification, which itself is sent 21 to 42 days before the repurchase request deadline.

What time period does the dataset cover?

Coverage runs from March 1998 — when EDGAR availability followed the Commission's 1993 adoption of Rule 23c-3 — through the most recent monthly refresh. The structural layout of the form has been stable across that entire span.

What file format is the dataset distributed in?

The dataset is distributed as monthly ZIP containers. Inside each container, every accession folder contains a metadata.json manifest plus the primary Form N-23C3A document, which is HTML for modern filings and ASCII TXT for filings from the late 1990s and early 2000s. The dataset's file types are TXT, JSON, and HTML.

How does this dataset differ from Form N-23C3B and Form N-2?

N-23C3B covers discretionary repurchase offers under Rule 23c-3(c) rather than the pre-committed periodic offers under Rule 23c-3(b) captured here; the two are complementary, not interchangeable. Form N-2 is the closed-end fund registration statement and prospectus that establishes the repurchase policy and frequency, while N-23C3A operationalizes that policy by announcing each individual offer with its specific deadline, pricing date, and offered percentage.