Download the Domini Funds 2017 Tax Guide for important information regarding your 2016 tax return preparation, including explanations for any income tax forms that you may receive from us, general information on how to report this information on your tax return, answers to frequently asked questions, and other useful tax information.
The tax forms mailing calendar below lets you know when you can expect the tax forms that you need in order to complete your tax returns. All tax forms will be mailed by the first business day on or after the date provided.
|Tax Form||Who needs it?||When is it mailed by?|
|1099-R||Investors who own a retirement account and took a distribution or recharacterized IRA assets.||January 31|
|1099-Q||Investors who own a Coverdell Education Savings Account (ESA) and took a distribution or re-characterized ESA assets.||January 31|
|1099-DIV||Investors who own a non-retirement mutual fund account and received $10 or more in taxable dividends and capital gain distributions.||February 15|
|1099-INT||Investors who own a non-retirement deposit account and received $10 or more in taxable interest income.||February 15|
|1099-B||Investors who redeemed or exchanged shares in a non-retirement mutual fund account.||February 15|
|1042-S||Non-resident aliens who earned U.S.-source income.||March 15|
|5498-ESA||Investors who made a contribution (including rollovers, conversions, recharacterizations and reconversions) to a Coverdell ESA.||30-Apr|
|5498||Investors who made a contribution (including rollovers, conversions, recharacterizations, reconversions and employer contributions) to an IRA.||31-May|
|(7/31/12) 8937||Form 8937 (Report of Organizational Actions Affecting Basis of Securities) is filed by issuers of specified securities to report organizational actions that affect the basis of the securities involved in the organizational actions.||Not mailed. (Download here-7/31/12).)|
|(7/31/16) 8937||Form 8937 (Report of Organizational Actions Affecting Basis of Securities) is filed by issuers of specified securities to report organizational actions that affect the basis of the securities involved in the organizational actions.||Not mailed. (Download here-7/31/16).|
Q. Does information on my tax forms get reported to the IRS?
A. Yes, Domini reports this information to the IRS using the appropriate forms. Generally, Forms 1099-DIV, 1099-INT, 1099-B, 1099-R, and 1099-Q are reported on or before March 31, and Forms 5498 and 5498-ESA are reported on or before May 31.
Q. What do I do if my Tax ID Number printed on the form is incorrect?
A. To change your Tax ID number on file with us, please send us a completed Form W-9 with your correct Tax ID number. You can obtain Form W-9 at your local post office, online at www.irs.gov or by calling us toll-free at 1-800-582-6757.
Q. What is a capital gain/loss?
A: A Capital Gain/Loss (Personal) results when an individual sells shares of a security, such as mutual fund shares, for a profit/loss and is the difference between an asset’s purchase price and selling price. A Capital Gain Distribution (Portfolio) results when a net profit is made by the mutual fund in buying and selling portfolio holdings during a given year. The IRS considers capital gains distributions from a mutual fund as a taxable activity, even if the shareholder reinvests the proceeds back in the fund.
Q. Will my conversion from a Traditional IRS to a Roth IRA affect my tax return?
A. Yes, converting from a Traditional IRA to a Roth IRA is reportable to the IRS. Please consult your tax advisor for assistance.
Q. Does Domini have a tax advisor or anyone who can help me fill out my return?
A. Our telephone call center personnel will be happy to help you with questions and information about your accounts; however, we cannot provide tax, legal or investment advice. For assistance in filling out your return, you should contact your professional advisor for such advice.
Q. Why doesn’t the income on my Form 1099-DIV match the amounts on my year-end or quarterly statements?
A. Occasionally, mutual funds determine that income previously distributed to shareholders as one type of income may need to be reclassified as a different category of income for tax reporting purposes. For example, qualified dividend income is not segregated from non-qualified dividend income on your periodic statements, but it is stated in box 1b on your Form 1099-DIV. Another example is if a tax-exempt dividend distribution must be reclassified as a taxable distribution.
Q. Where is my Cost Basis Statement?
A. Beginning January 1, 2012, reportable redemptions from your non-retirement account will display the appropriate gain/loss information categorized by section on Form 1099-B if certain data is available. This requirement was enacted as part of the Energy Improvement and Extension Act of 2008. Essentially, the data that had been displayed on a separate Cost Basis Statement is now reported on Form 1099-B. Depending on the information available, cost basis data may also be reported to the IRS.
Domini Impact Equity Fund (all share classes): Dividends are distributed quarterly and capital gains are distributed annually.
Domini Impact International Equity Fund (all share classes): Dividends are distributed semi-annually and capital gains are distributed annually.
Domini Impact Bond Fund (all share classes): Dividends are accumulated daily and distributed monthly, and capital gains are distributed annually.