Mutual funds, like most financial products, involve taxes. A "taxable event" is a transaction that creates tax implications. Mutual fund taxable events may result when:
Distributions are generally taxable the year they are received (whether as cash or reinvested shares). One exception is that certain distributions declared in the last three months of one year but paid in January of the next year are taxed in the year they were declared.
For IRAs and other tax-deferred accounts, dividend and capital gains distributions are not taxable until you withdraw such distributions.
Distributions of income are generally not taxable. Keep in mind, however, that distributions from capital gains generally are taxable.
Other important distribution information for individual taxpayers:
Transamerica funds tax forms are expected to be mailed on or before the dates shown below. Please allow 7 to 10 business days for U.S. mail delivery to U.S. addresses, and additional time to non-U.S. addresses.
The forms we mail in this packet may include any or all of the following forms, depending on your transactions or holdings during the year. We also include additional information with your forms to aid in your understanding of the forms and preparation of your income tax returns.
Sometimes certain funds won't trigger a tax form. If 7 to 10 business days have passed the tax forms mailing dates above, and you did not receive tax forms you believe you should have received from Transamerica Funds, first make sure you should receive any of these forms.
For example, if your fund made no distributions and you sold or exchanged no shares from your account during the tax year, your Transamerica Funds account is not subject to any tax consequences and therefore you should not receive any tax forms.
If you are still unsure, please contact Transamerica Funds customer service at 888-233-4339 from 8 a.m. to 7 p.m. ET, Monday through Friday.
Call Transamerica Funds InTouch at 888-233-4339
Press "1" for Transamerica Funds
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Press "3" (Year-end information and duplicate tax forms)
Press "3" (Duplicate tax forms)
Enter Social Security or fund and account number.
Although our aim is not to provide tax advice, we would like to share this glossary of terms to aid in your understanding of some of the specialized terms used in this section of our web site and in connection with U.S. taxes related to your Transamerica funds investment as an individual U.S. taxpayer.
Special rules may apply to corporate or other shareholders. For more complete discussions of these terms, please consult your tax advisor, investment professional, year-end tax forms, or the IRS.
Also referred to as direct deposit, the electronic banking network in the U.S. through which payments are sent between banks and their customers. The ACH network allows Transamerica Funds to deposit money directly into a shareholder's bank account for things such as dividends or redemptions (either as requested or under a Systematic Withdrawal Plan or a recurring schedule). Payments flow the other way as well when shareholders purchase Transamerica Funds shares, paying for them via money transferred from their bank account. Direct deposit is faster, more secure/private, more convenient, and less costly than paying by check.
Federal or state tax rules that aim to have taxpayers compute their taxes both through traditional means as well as an alternate set of rules. If the AMT rules produce a tax liability greater than that from traditional means, the taxpayer generally must pay the higher AMT required tax. The IRS instituted these rules to ensure some taxpayers with certain situations pay at least some tax. Some portion of tax-exempt fund dividends may be derived from private activity bonds, which are a tax-preference item for the AMT.