State Street Global Services

Fund Administration

Tax Services

In the specialized field of mutual fund taxation, State Street produces all the information necessary to complete the tax returns, filings and disclosures required for a regulated investment company. We integrate tax compliance and preparation services with our administration activities, and consult on tax implications for new funds, mergers, consolidations and other issues that affect a fund’s tax status.

Our technology-based tax solutions include:

Wash Sales Reporting

The labor-intensive task of accounting for deferred capital losses under the Wash Sales rule, along with the added pressure of precise reporting, can challenge your ability to identify, track and report Wash Sales and their reversals.  Our Wash Sales service calculates the amount of the deferred capital losses for tax purposes and automatically tracks the adjusted cost and holding period for any subsequent purchases.

State Street’s Wash Sales service helps minimize time and risk associated with maintaining manual data by automatically:

> Identifying Wash Sales

> Calculating deferred capital losses for tax purposes

> Tracking the adjusted cost and holding period of the subsequent purchase

> Tracking reversals of the deferred capital losses

Qualified Dividend Income Reporting

Whether verifying which dividends qualify for reduced tax rates, or determining the amount of potential tax credits that may be passed through to your fund’s shareholders, you need timely information to accurately determine both the eligibility and dividend amounts.  Our Qualified Dividend Income service includes information to help your tax professionals determine and calculate:

Dividends Received Deduction. The deduction from gross income that a corporation can take for dividends received from mutual funds.

Qualified Dividend Income. The amount of dividend income received that potentially qualifies for a reduced tax rate under the Jobs and Growth Relief & Reconciliation Act of 2003.

Foreign Tax Credits. The amount of non-recoverable taxes withheld from the dividend payment that could be passed through to the fund’s shareholders for potential tax credits.

With our comprehensive tax administration services, we can support all of your tax reporting needs, including:

> Compliance module reporting

> Tax research informational requests

> Required income and excise distribution calculationsI

> Year-end 1099-DIV processing

> Preparation and review of federal, state and excise tax returns

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