Common use of Tax Functions Clause in Contracts

Tax Functions. (1) Monitor Internal Revenue Service compliance requirements in order to maintain each Fund’s beneficial mutual fund tax status. (2) Compute and communicate Fund dividend and capital gain distributions based upon each Fund’s taxable income in order to avoid punitive fund level taxes. (3) Facilitate the preparation and filing of requisite federal, state, and local income and excise tax returns. (4) Monitor each Fund’s dividends and capital gain distributions, and make any necessary adjustments to such, for each Fund to maintain its qualification as a “regulated investment company” under the Internal Revenue Code of 1986, as amended, if the Fund has so elected. (5) Determine and disseminate the tax characterization of distributions to be used by brokers for year-end shareholder tax reporting. (6) Oversee the year-end shareholder tax form filings prepared by the Funds’ Transfer Agent.