Frequently Asked Questions
- Year-End Tax Forms and Statements
- Composite Form 1099
- Form 1099-DIV
- Form 1099-B
- Cost Basis Reporting Information
- Form 1099-Q
- Form 1099-R
- Form 5498 and Form 5498-ESA
- Form 1042-S
- Tax Withholding for Retirement Accounts
- Capital Gains—Long-Term, Short-Term
- Direct U.S. Government Obligation
- Foreign Source Income/Foreign Tax Paid
Most tax forms (including Composite Form 1099), were available online by February 18, 2014. For a complete list of tax forms and when they will be available, please view our Tax Calendar. Forms 5498 will be mailed by June 2, 2014.
Below is a summary of the tax forms you may receive:
- All Franklin Templeton shareholders received a year-end Asset Summary Statement in early January 2014. This important document provides account activity that occurred during the 2013 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 you own the fund.
- Composite Form 1099: This form will include the following information for non-retirement accounts. Please note that a separate Composite Form 1099 is generated for each fund account you own.
- 1099-DIV, Dividends and Distributions, will be provided to those shareholders who received taxable and tax-exempt distributions, distributions of net short-term capital gain and total capital gain distributions during the year. To find out more about this form, visit our 1099-DIV FAQ section.
- 1099-B, Proceeds From Broker and Barter Exchange Transactions, will be provided to shareholders who have sold or exchanged any of their fund shares during the year. For those transactions that qualify, this form will also report any cost basis information for shares sold during 2013. To find out more about this form, visit our 1099-B FAQ section.
- If you are contributing to an IRA, you will receive Form 5498, IRA Contribution Information. To find out more about this form, visit our Form 5498 FAQ section.
- If you receive distributions from a retirement account, including an IRA, you will receive Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. To find out more about this form, visit our Form 1099-R FAQ section.
- If you are contributing to a Coverdell ESA, you will receive Form 5498-ESA, Coverdell ESA Contribution Information. To find out more about this form, visit our Form 5498-ESA FAQ section.
- If you receive distributions from a 529 plan or Coverdell ESA, you will receive Form 1099-Q, Payments from Qualified Individual Education Programs (Under Sections 529 and 530). To find out more about this form, visit our Form 1099-Q FAQ section.
- If you are a nonresident alien individual or foreign entity (including foreign corporations, foreign partnerships, foreign trusts, foreign estates, foreign governments, international organizations and qualified intermediaries) and received certain payments, you will receive Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. To find out more about this form, visit our Form 1042-S FAQ section.
Visit our Tax Calendar to find out when these forms will be available.
Important Legal Information
The information contained in this Tax Center is not intended to be a complete discussion of all federal or state income tax requirements. This information cannot be used by an investor to avoid any income tax penalties that may be imposed under the Internal Revenue Code. Investors should seek advice from a financial and/or tax advisor about the potential tax implications of their investments in Franklin Templeton fund(s) based on their individual circumstances.
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