Tax FAQs

Visit our tax calendar to find out when tax forms will be available online and mailed.

This important document summarizes the account activity that occurred during the calendar year. You should retain your year-end Asset Summary Statement in addition to any tax documents you receive as a record of your account transactions for the entire period that you own shares in the fund.

Visit our Understanding Tax Forms page to learn more.

Visit our Understanding Tax Forms page to learn more.

Visit our Understanding Tax Forms page to learn more.

You will receive Form 1099-DIV reporting information on Composite Form 1099 if you received $10 or more in dividends or other distributions from your fund during the calendar year.

While amounts less than $10 are still required to be reported to the IRS on your tax return, the IRS does not require a 1099-DIV to be issued. Dividends or other distributions less than $10 can be found on your year-end statement. If your distribution was less than $10, but you had backup withholding or the fund passed through foreign taxes to you, you will receive a Form 1099-DIV.

Yes. Distributions made by your Franklin Templeton fund investments are reported on Form 1099-DIV and must be reported on your federal and state income tax returns whether they are received in cash or reinvested in additional fund shares.

Yes. If your tax-free fund distributed any tax-exempt interest dividends, ordinary income or capital gains of $10 or more, you will receive information under the Form 1099-DIV section of the Composite Form 1099.

Even though tax-exempt interest dividends are exempt from regular federal income tax, the IRS requires that you report tax-exempt interest dividends. Reporting this income on your tax return does not cause it to be subject to regular federal income tax.

While amounts less than $10 are still required to be reported to the IRS on your tax return, the IRS does not require a Form 1099-DIV to be issued. Distributions less than $10 can be found on your year-end statement.

If your distribution was less than $10, but you had backup withholding or the fund passed through foreign taxes to you, you will receive a Form 1099-DIV.

Yes. Registered shareholders can view or print their tax forms by logging in to their account on franklintempleton.com. Log in to your account or register now for account access.

Yes. Distributions made to you, that Franklin Templeton is required to report to the IRS shortly after the close of year, are reported under the taxpayer identification number you provided on your account(s). A separate Composite Form 1099 is generated for each account you own.

You could also receive more than one Form 1099-DIV per account if:

1. You received dividends while residing in California, then moved to another state and received additional dividends while residing in the new state
   OR
2. You received dividends while residing in another state and then moved to California and received additional dividends.

If you receive Form 1099-DIV that includes income attributable to other taxpayers with different taxpayer identification numbers, you may need to follow the IRS guidelines for nominees. Please refer to the instructions for Form 1040, U.S. Individual Income Tax Return, Schedule B, Interest and Ordinary Dividends.

IRS forms, instructions and publications can be obtained free of charge by calling the IRS at (800) 829-1040. You may also view these materials at irs.gov.

Visit our Understanding Tax Forms page to learn more.

Whenever you sell or exchange shares of a Franklin Templeton fund, you will generally recognize a taxable capital gain or loss. The proceeds from these transactions are reported to you on Form 1099-B, along with the cost basis of eligible shares.

There were additional monetary adjustments made to your account after your original tax form was mailed. Because of these adjustments, a new Form 1099-B had to be issued. We have until the IRS deadline of February 15 to provide final 1099-B reporting to shareholders.

Yes. Registered shareholders can view or print their tax forms by logging in to their account on franklintempleton.com. Log in to your account or register now for account access.

No. The IRS generally does not require money funds to issue Form 1099-B because a sale or exchange of money fund shares does not ordinarily create a gain or loss.

Visit our Understanding Tax Forms page to learn more.

Yes. Registered shareholders can view or print their tax forms by logging in to their account on franklintempleton.com. Log in to your account or register now for account access.

Visit our Understanding Tax Forms page to learn more.

Yes. Registered shareholders can view or print their year-end tax forms when logging in to their account on franklintempleton.com. Log in to your account or register now for account access.

Visit our Understanding Tax Forms page to learn more.

Participants are allowed to make contributions to their accounts up until the original tax filing deadline of the following year. This form is mailed after that date to ensure accuracy in reporting.

Yes. Registered shareholders can view or print their year-end tax forms when logging in to their account on franklintempleton.com. Log in to your account or register now for account access.

Visit our Understanding Tax Forms page to learn more.

Participants are allowed to make contributions to their accounts up until the original tax filing deadline of the following year. This form is mailed after that date to ensure accuracy in reporting.

Yes. Registered shareholders can view or print their year-end tax forms when logging in to their account on franklintempleton.com. Log in to your account or register now for account access.

Visit our Understanding Tax Forms page to learn more.

If you are a nonresident alien individual or foreign entity with investments in US-based Franklin Templeton mutual funds, you will receive a Form 1042-S, if you received any of the following during the calender year: ordinary income dividends (including interest-related dividends), short-term capital gain dividends, distributions from long-term capital gains, gains from US real property interests, return of capital or distributions from retirement accounts.

After February 11, 2019
 
 

Yes, but only for distributions from certain retirement accounts with Fiduciary Trust International of the South (FTIOS) as the custodian.

Yes. For certain FTIOS retirement accounts, state tax may be withheld from a distribution if you reside in one of the following states:

 If you reside in a state that is not listed above, only federal taxes may be withheld from your distribution.

Fund search for the tax information for a specific fund.

Additional information on how to report capital gains and losses, including determining the tax basis for your mutual fund shares, can be found in IRS Publication 550, Investment Income and Expenses. This publication can be downloaded from irs.gov.

Obligations issued by the US government such as Treasury bills, US savings bonds and US agency obligations are known as direct US government obligations.

States generally grant tax-exempt status to income from direct US government obligations. This tax-exempt status also applies to dividend distributions paid to fund shareholders as a result of investing in these types of securities. Depending on the law in your state, you may be entitled to report a percentage of fund ordinary income dividends as tax-exempt income on your state personal income tax return. However, some states impose minimum investment threshold requirements or other restrictions on the pass through of this exempt-interest income. Please consult your tax advisor regarding the exemption of US government interest in your state.

The percentage of income your fund earned from direct US government obligations is available on the Tax Information page for each fund located on this website. Please use fund search for the tax information for a specific fund.

Ordinary income dividends paid by funds as a result of investing in direct US government obligations are generally exempt from state and local taxation. Government National Mortgage Association (GNMA or Ginnie Mae), Federal National Mortgage Association (FNMA or Fannie Mae), and Federal Home Loan Mortgage Corporation (FHLMC) securities are guaranteed by the US government, but are not issued by the US government. If your fund reports a small percentage of income from direct US government securities, it likely means that your fund invests primarily in securities guaranteed, not issued by the US government.

Foreign source income is income earned by the fund from its investments in foreign securities. A shareholder’s foreign source income is the shareholder’s portion of the foreign source income earned by the fund.

Foreign tax paid is the shareholder’s portion of the foreign income or withholding taxes paid by a fund on its investments in foreign securities.

The foreign source income and foreign tax paid are reported on Form 1099-DIV.

Responding to recent favorable European court decisions, US investment funds are able to file withholding tax reclaims seeking to recover tax withheld in prior years by EU Member States on dividends paid by EU resident companies in breach of EU law.

Under guidance provided by the IRS, the fund is required to reduce the current year’s foreign income taxes paid by the fund by the amount of the reclaim. The shareholder’s portion of the foreign income taxes paid by the fund is reported on Form 1099-DIV. If the EU member state government also paid interest on the tax reclaim, the interest is included in the ordinary dividend amount paid to shareholders during the year as reflected on Form 1099-DIV. This interest amount is also included in the foreign source income amount and the amount of foreign taxes in Box 6 is reduced by the amount of the interest on the refund.

Foreign qualified dividends are the foreign source qualified dividends the fund paid to a shareholder, plus any foreign taxes withheld on these dividends. These amounts represent the portion of the foreign source income reported to a shareholder that was derived from qualified foreign securities held by the fund. Individual shareholders may find this information helpful when calculating the foreign source income adjustment needed to complete Form 1116. Please consult your tax advisor for any additional information and for the appropriate treatment in your case.