Form 1099-DIV: Exempt-interest dividends from a mutual fund or other regulated investment company
are now reported on Form 1099-DIV.
Under this rule, continuity is adversely affected by pre-acquisition distributions made when (1) a regulated investment company
(RIC) or real estate investment trust (REIT) acquires a corporation (which must distribute all non-RIC or non-REIT earnings and profits), (2) a C corporation acquires an S corporation (which commonly distributes its accumulated adjustments account (AAA)) or 0) there is an acquisition of a controlled foreign corporation (which commonly distributes its previously taxed income account on its subpart F income).
Securities Risk, Failure to Quality as a Regulated Investment Company
Risk, Tax Law Change Risk, Deferred Tax Risk, Delay in Investing the Proceeds Risk, Equity Securities Risk, Canadian Income Equities Risk, Leverage Risk, Derivatives Risk, Portfolio Turnover Risk, Competition Risk, Restricted Securities Risk, Liquidity Risk, Valuation Risk, Interest Rate Risk, Non-Diversification Risk, Anti-Takeover Provisions, Inflation Risk, Certain Affiliations and Secondary Market for the Fund's Common Shares.
A third-party recordkeeper is defined as any (1) mutual savings bank, cooperative bank, domestic building and loan association, or other savings institution chartered and supervised as a savings and loan or similar association under Federal or state law, or bank or credit union, (2) consumer reporting agency, (3) person extending credit through the use of credit cards or similar devices, (4) broker, (5) attorney, (6) accountant, (7) barter exchange, (8) regulated investment company
(RIC) and agent of such RIC when acting as an agent thereof and (9) enrolled agent.
This dividend is being made in accordance with certain applicable Treasury regulations and private letter rulings on cash/stock dividends issued by the IRS over the years that allow a publicly-traded regulated investment company
to satisfy its distribution requirements from a distribution paid partly in common stock provided that at least 20% of the distribution is payable in cash and certain other requirements are satisfied.
865-1, the allocation of losses on the disposition of portfolio: stock, stock of a regulated investment company
, S stock, and other personal property not governed by Prop.
The Regulated Investment Company
Modernization Act of 2010, updates federal tax code provisions affecting investment companies regulated by the SEC.
Since beginning operations, Fund had elected to operate as a regulated investment company
This dividend is being made in accordance with IRS Revenue Procedure 2010-12, which allows a publicly-traded regulated investment company
to satisfy its distribution requirements from a distribution paid partly in common stock provided that at least 10% of the distribution is payable in cash and certain other requirements are satisfied.