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Frequently Asked Questions

Client Services FAQs

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  • Q How can I invest in a Goldman Sachs Fund or open an account? Expand/Collapse
    A
    1. Discuss your financial goals with your financial advisor to determine the type of account and investments best suited for you. Your financial advisor can help arrange a well-diversified portfolio of investments designed to meet your goals.
    2. Review and discuss with your financial advisor which Goldman Sachs Funds (the “Fund”) are best suited for your portfolio.
    3. Select the appropriate account application to open your Goldman Sachs account. If you do not see the form or application you need, please contact us at 800.526.7384.
    4. Mail your payment and account application to your Authorized Dealer. Your Authorized Dealer is responsible for forwarding payment promptly (within three business days) to the Fund.

    The Funds will not accept checks drawn on foreign banks, third party checks, temporary checks, cash or cash equivalents; e.g., cashier’s checks, official bank checks, money orders, travelers cheques or credit card checks. In limited situations involving the transfer of retirement assets, a Fund may accept cashier’s checks or official bank checks.

    For more information on how to buy shares, please call 800.526.7384.

  • Q What does the information on my Goldman Sachs Funds statement mean? Expand/Collapse
    A

    Understanding your Goldman Sachs Funds statement:

     

    A, C, R & IR Shares

     

    Institutional, Service and R6 Shares

  • Q How can I "go green" and receive electronic delivery of GS Fund information? Expand/Collapse
    A

    Sign up for electronic delivery to receive email notifications when your account statements, tax forms and other Fund documents are available for viewing.

    You will need to log in to your account and update your account preferences.

  • Q When should I expect my redemption proceeds? Expand/Collapse
    A

    For most fluctuating NAV products, redemption proceeds will normally be mailed or wired on the next business day in federal funds, but may be paid up to three business days following receipt of a properly executed redemption request.  See ‘How are redemptions proceeds paid’ in the prospectus for additional details on redemptions.

    Goldman Sachs recognizes the importance of providing quick access to liquidity funds. For redemptions in Goldman Sachs Money Market portfolios, the Funds perform an industry leading number of account reviews during the day aimed at providing your funds as quickly as possible. Contact your client service representative at 800.526.7384 for A, B & C shares or 800.621.2550 for Institutional shares for additional information.

  • Q How do I re-register my account? Expand/Collapse
    A

    For instructions on re-registering your account, contact the client service team at 800.526.7384 for A, B & C shares or 800.621.2550 for Institutional shares.

  • Q How can I learn more about Fund Services like automatic investment plans, systematic withdrawal plans, dividend reinvestment, or exchange privilege? Expand/Collapse
    A

    To learn more about Fund Services, contact the client service team at 800.526.7384 for A, B & C shares or 800.621.2550 for Institutional shares.

  • Q What is cost basis? Expand/Collapse
    A

    Generally, cost basis is the purchase price of your mutual fund shares and usually includes any commissions or sales load charges paid for the shares. However, different basis rules may apply in cases of shares received by gift or inheritance. Cost basis is adjusted for certain events such as return of capital distributions, wash sales, etc. The amount of capital gain or loss is the difference between the cost basis of your mutual fund shares and the amount realized upon redemption.

  • Q What is the Goldman Sachs Funds’ default cost basis accounting method and do I have to use it? Expand/Collapse
    A

    The Goldman Sachs Funds’ default accounting method is Average Cost. You are under no obligation to use this method unless another method has not been provided in advance or at the time of redemption.

  • Q What are covered shares? Expand/Collapse
    A

    Covered shares are shares acquired after the effective date of January 1, 2012 where cost information is available.

  • Q What are non-covered shares? Expand/Collapse
    A

    Non-covered shares are shares acquired prior to the effective date of January 1, 2012 or shares transferred into an account with an unknown cost basis regardless of the acquisition date.

  • Q What are the different cost basis accounting methods available to me? Expand/Collapse
    A

    We provide several IRS-approved methods for determining your cost basis on covered shares — each with different tax implications. Please consult your tax professional to determine which method should be considered for your individual tax situation.

  • Q Where can I find information on tax aspects of mutual fund investing Expand/Collapse
    A

    Please refer to our Tax Guide for a general overview of the tax consequences related to mutual fund investing. More Tax and IRA information can be found in our Forms and Tax Center section.

  • Q Where can I find information about dividend dates and distribution amounts? Expand/Collapse
    A

    Dividend dates and distribution amounts can be found in our Forms and Tax Center section.

  • Q Where can I find information on IRAs? Expand/Collapse
    A

    Tax and IRA information can be found in our Forms and Tax Center section.

  • Q Where can I find Cost Basis Information? Expand/Collapse
    A

    Cost basis information can be found in our Forms and Tax Center section.

  • Q What is a capital gain or loss? Expand/Collapse
    A

    When you sell or exchange shares, your capital gain or loss is the difference between the proceeds from the sale/exchange and the cost basis of the shares. Even though Goldman Sachs Funds will report the cost basis for the sale or exchange of covered shares to you and the IRS, you will be responsible for reporting any capital gain or loss information for both covered and non-covered shares to the IRS.

  • Q Are reinvested dividends and capital gains considered purchases for cost basis? Expand/Collapse
    A

    Yes, reinvested dividends and capital gains are considered additional purchases made at the net asset value share price on the day the reinvestment occurred.

  • Q What year-end tax forms for Goldman Sachs Funds will be mailed? Expand/Collapse
    A

    The year-end tax forms that you will receive from Goldman Sachs Funds, and their mailing dates, are listed in the tax calendar located in our Forms and Tax Center section.

    • All Goldman Sachs Funds shareholders will receive a year-end statement in early January. This important document provides all account activity that occurred during the previous calendar year. You should retain your year-end statement in addition to any tax documents you receive as a historical record of your account transactions throughout the entire period you own the fund.
    • Form 1099-DIV, Dividends and Distributions, will be mailed to shareholders who have received taxable distributions from their funds. To determine if you will receive Form 1099-DIV, see “Will I receive Form 1099-DIV?”
    • Form 1099-B, Proceeds from Broker and Barter Exchange Transactions will be mailed to shareholders who have sold any of their fund shares during the year. To determine if you will receive Form 1099-B, see “Will I receive Form 1099-B?”
    • If you are required to receive Form 1099-DIV and Form 1099-B, both forms will be consolidated into one mailing. Shareholders who have sold shares during the year will also generally receive Cost Basis Statements.
    • Form 1099-INT, Interest Income, will be mailed to shareholders who have received distributions of tax-exempt interest dividends from their funds.
    • If you are a nonresident alien and received income during the year, you will receive Form 1042-S, Foreign Person's U.S. Source Income Subject to Withholding. The form will be mailed in March.
    • If you are contributing to an IRA, you will receive Form 5498, IRA Contribution Information.  The form will be mailed by the end of May.
    • If you are contributing to a Coverdell ESA, you will receive Form 5498-ESA, Coverdell ESA Contribution Information. The form will be mailed by the end of May.
    • 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. The form will be mailed by February 15.
    • If you receive distributions from a Coverdell ESA, you will receive Form 1099-Q, Payments from Qualified Individual Education Programs (Under Sections 529 and 530).
    • If you are a nonresident alien individual and receive distributions from a retirement account including an IRA, you will receive Form 1042-S.
  • Q When will Goldman Sachs Funds mail my tax forms? Expand/Collapse
    A

    The year-end tax forms that you will receive from Goldman Sachs Funds, and their mailing dates, are listed in the tax calendar located in our Forms and Tax Center section. Most tax forms are mailed by mid-February each year.  Forms 5498 are mailed by the end of May each year.

  • Q Will I receive Form 1099-B? Expand/Collapse
    A

    You will receive Form 1099-B if you had redemption or exchange activity in a fund account (except for money market or retirement plan accounts) during the reportable period.  This form will also serve as year-end confirmation for reportable cost-basis on your mutual fund shares.

  • Q What is Form 1099-DIV? Expand/Collapse
    A

    Form 1099-DIV, Dividends and Distributions, is the federal information form used to report total ordinary dividends (including distributions of net short-term capital gain) and total capital gain distributions paid to your fund accounts during the year. These dividends and distributions are taxable whether received in cash or reinvested to purchase additional fund shares. Form 1099-DIV is also used to report qualified dividend income, unrecaptured Section 1250 gain, non-dividend distributions (return of capital), federal income tax withheld (backup withholding), foreign tax paid and foreign source income, if applicable to your accounts.

     

    Forms 1099-DIV are mailed to shareholders by the end of January each year.

  • Q Will I receive Form 1099-DIV? Expand/Collapse
    A

    You will receive Form 1099-DIV if you received $10 or more in taxable dividends or other distributions from your fund during the year. Goldman Sachs Funds is not required to report taxable dividends and distributions received on your accounts in an amount less than $10 unless an amount of backup withholding was withheld. Although Goldman Sachs Funds is not required to report an amount under $10, you are generally required to report all dividends and distributions on your income tax returns. Any amount not reported on Form 1099-DIV can be found on your Year-End Asset Summary Statement.

     

    Shareholders should consult with their tax advisors regarding all specific tax questions.

  • Q Will I receive Form 1099-DIV even if my dividends are reinvested? Expand/Collapse
    A

    Yes, distributions made by your Goldman Sachs Funds investments are considered reportable payments whether or not they are received in cash or reinvested in additional fund shares. If you reinvest taxable dividends or distributions, this income is subject to income tax and must be reported on your income tax return.

     

    Shareholders should consult with their tax advisors regarding all specific tax questions.

  • Q I invest in a tax-free income fund. Will I receive Form 1099-DIV? Expand/Collapse
    A

    Tax-free income funds are required to report tax-exempt interest dividends of $10 or more on Form 1099-INT. If your tax-free income fund distributed any ordinary income or capital gains of $10 or more, you will receive Form 1099-DIV.

     

    Shareholders should consult with their tax advisors regarding all specific tax questions.

  • Q Last year, I received a small distribution from my account. Why didn't I receive Form 1099-DIV? Expand/Collapse
    A

    Goldman Sachs Funds is not required to report distributions less than $10 unless backup withholding was withheld. Although the IRS does not require Goldman Sachs Funds to report distributions less than $10, the IRS requires you to report such distributions on your income tax return. Although Form 1099-DIV may not be mailed to you, distributions less than $10 can be found on your Year-End Statement.

     

    Shareholders should consult with their tax advisors regarding all specific tax questions.

  • Q What will be mailed with the consolidated Form 1099-DIV, Form 1099-B and 1099-INT? Expand/Collapse
    A

    Some shareholders will also receive Cost Basis Statements. See the Cost Basis FAQs for a description of shareholders who will not receive a Cost Basis Statement.

  • Q Where can I find more tax related information? Expand/Collapse
    A

    For more tax related questions and answers, see the Goldman Sachs Funds Tax Guide located in our Forms and Tax Center section.

  • Q What reporting is available to me and how do I get started? Expand/Collapse
    A

    Daily and Monthly account, rates/factors, and transaction history reports are available to Institutional clients. Contact a Goldman Sachs client service representative at 800.621.2550 to be set up to receive reports delivered electronically to your e-mail inbox.

  • Q What is a sample of other services that can be provided by Goldman Sachs Asset Management? Expand/Collapse
    A

    We strive for efficiency and to provide flexible and scalable solutions to our clients trading, reporting, or other needs.

    Available services provided to end investors and their financial advisors include:

  • Q Where can I find more information on Proxy Voting? Expand/Collapse
    A

    If you’ve received a notice on behalf of a GSAM fund (via your fund account address of record or via email) indicating there is an active vote on a GSAM fund you own and would like to vote your shares, you can do so by visiting proxyvote.com and entering the control number listed in the notice.

     

    If you are interested in understanding how GSAM Funds have voted on proxies received from underlying securities in the funds, visit our Proxy Voting page.