Which of the following statements is true about Schedule 13G?

The statement regarding Schedule 13G being applicable to passive investors with under 20% ownership is accurate because Schedule 13G is a filing designated for certain shareholders who meet the criteria of being passive investors. This form is typically utilized by institutional investors who own less than 20% of a company and do not intend to influence or change control over the issuer.

The essence of this filing is to report ownership stakes in publicly traded companies while indicating that the shareholder does not plan to exert control. This differentiates Schedule 13G from Schedule 13D, which is used by investors who may have a controlling interest or an intent to change control of the issuer, and therefore carries more stringent filing deadlines and requirements.

In practical terms, shareholders utilizing Schedule 13G are generally making a declaration of ownership without the intention of affecting corporate governance or operational strategies of the company, exemplifying the passive investment nature that the form is designed for.