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The Internal Revenue Service (IRS) requires regulated investment companies (mutual funds) to report certain “organizational actions” to shareholders and the IRS, when the organizational action affects the tax basis of your shares. Form 8937, Report of Organizational Actions Affecting Basis of Securities, is posted below as required to meet these IRS reporting requirements.

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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 professional about the potential tax implications of their investments in Franklin Templeton and Putnam Investments fund(s) based on their individual circumstances.

Franklin Distributors, LLC. Member FINRA/SIPC.

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