Thanks for helping Putnam go green
Consider electronic delivery of your Putnam documents.
More than 66,000 Putnam shareholders have chosen electronic delivery. In addition to reducing their own paper clutter and filing hassles, they are saving:
The simple act of choosing paper suppression for your Putnam documents is a great win for the environment.Go paperless now! [ + more ][ - less ]
Putnam’s award-winning service
We are committed to providing the best possible service to investors.
|Award:||DALBAR mutual fund service|
|Years won:||27 consecutive years|
|Recognizes:||DALBAR conducts rigorous, systematic, year-round testing of customer service. The award symbolizes achievement of the highest tier of service and is awarded only to firms that exceed industry norms in key service areas in the financial services industry.|
|Award:||DALBAR Total Client Experience|
|Years won:||Six years, every year it has been presented|
|Recognizes:||As the sole recipient of the award, Putnam was honored for providing quality, accuracy, and client security, based on the complete customer experience.|
|Award:||National Quality Review (NQR) 5-Star performance rating|
|Years won:||3Q and 4Q 2016|
|Recognizes:||Consistent outstanding quality, based on evaluations of transactions such as investments, redemptions, new accounts, exchanges, account maintenance, and transfers.|
Check-free, electronic investing
Did you know you can send money directly to Putnam from your bank account — without writing a check? If you already make electronic payments, adding Putnam is easy!
It’s easy to get started with your Putnam account — even if you’ve never made electronic payments before:
- Go to your bank's website to access your bank account and your bank's bill-pay service
- To add your Putnam account, you will need your 14-digit Putnam account number
- You will also need to enter Putnam's mailing address: Putnam Investments, P.O. Box 8383, Boston, MA 02266-8383
For more information about your Putnam account, you may call a customer service representative at 1-800-225-1581.
Questions from investors
How do I establish online access?
Establishing online account access only takes a few minutes. All you need is the account number from your statement and the Social Security number (SSN) of the primary account holder.
How do I open an account?
Working with a financial professional is key to successful financial planning. With your financial professional's help, complete the appropriate Putnam Investments account application.
To learn more about finding a financial professional, see how to find an advisor.
For non-retirement accounts, use this form; for IRA/Roth IRA, use this form and mail it to the address indicated. Once your account is established, use your account number to set up online account access, which allows you to view and manage your account(s) online.
How do I update an address?
You can update your account address online, by mail, or by phone:
- Log in to your account at putnam.com/individual
- Select "Address change" in the left-hand nav then select the desired registration. Update address, select continue and then choose either "Keep entered" or "Accept address" under preferred address.
- Mail this form
8:00 a.m. – 8:00 p.m.
How do I change my name?
You can update your name by completing and mailing this form.
How do I view/update my beneficiary information?
You can view your beneficiary information by logging in and clicking on My accounts. On the left hand, you will see Mutual Funds/IRA/529 and listed below is Beneficiary.
Click and if the information is available, you will see your current beneficiary information for your IRA accounts.
Beneficiary information can be updated by mailing this form.
What can I view or update online
By logging in to the Individual Investor site, you have access to the Account Summary and, upon selecting a registration, the Daily Statements page. From this page you can:
View your account balance: The Daily Statements page displays share price, share balance, and current value.
Change your account options: Select "Account options" in the left-hand nav to change account options for available accounts or get forms to set up account options.
View/Print Tax Forms: Select "Tax information" in the left-hand nav. Select the desired tax form to display the form as a PDF.
View/Print Statements: Select "Confirmations and statements" in the left-hand nav. Click to view PDFs of confirmations or statements listed from the drop-down menu.
Suppress Mailings: Select "Mailing options" in the left-hand nav. Select your preferred settings and enter a valid email address. You have the option to receive account balance by email either daily, weekly, or monthly. At the bottom of the page, check off the eDelivery Terms and Conditions box and click Submit.
Account history (transcripts): Select "Account history (Transcripts)" in the left hand nav. Click to view PDFs of transcripts by year. PDFs of these documents are available from 1996 to present, if applicable.
What does "certification" mean?
Certification is a stamp or raised seal placed on a copy of a legal document to confirm that the document is a true and correct copy of the original and that it is still in full force and effect.
- Court certifications are provided by a court and only apply to documents that are issued by the court. Examples include letters testamentary, settlements of small estates, letters of appointment of guardianships and conservators, and divorce decrees.
- Non-court certifications vary depending on the type of non-court document being certified. A Medallion Program signature guarantee (see definition below) or an attorney certification letter may be acceptable to certify certain non-court documents. Examples include corporate resolutions, powers of attorney, and trust agreements.
What is a notary public?
A notary public is a person authorized by the state in which the person resides to administer oaths (swearing to the truth of a statement) and take acknowledgments.
A notary signature and seal/stamp are required for executing certain legal documents such as wills, trusts, powers of attorney, etc. Notaries do not provide financial indemnification in the event of fraud or forgery and therefore are not acceptable in lieu of a signature guarantee to redeem or transfer shares.
What is a signature guarantee?
A signature guarantee is a stamp provided by a financial institution warranting that an individual's signature is genuine. The guarantor accepts financial liability in the event of fraud or forgery.
Putnam accepts signature guarantees from:
- Securities broker/dealers, commercial banks, federally chartered savings institutions, and federally chartered credit unions
- Trust companies, state chartered savings institutions, and credit unions
By guaranteeing the signature, the guarantor warrants that at the time of signing:
- The signer signed the document, and the signature was genuine.
- A signature guarantee has an unlimited dollar liability, unlike a Medallion Program signature guarantee.
What is a Medallion Program signature guarantee?
A Medallion Program signature guarantee is a stamp provided by a financial institution or a broker/dealer warranting that an individual's signature is valid.
Putnam accepts Medallion Program signature guarantees in place of traditional signature guarantees and certain forms of certification for non-court documents. Putnam does not accept dated medallion guarantees.
Each Medallion Program member has a specific liability limit per transaction, which is indicated by the letter that precedes the FINS (Financial Institutions Numbering System) number on the Medallion Program guarantee (for example, in A0123456, "A" indicates that the guarantor may guarantee any transaction up to $1,000,000).
Prefix Letter Liability limit per transaction Z $10,000,000 Y $5,000,000 X $2,000,000 A $1,000,000 B $750,000 C $500,000 D $250,000 E $100,000 F $100,000 (credit unions only)
What is a power of attorney?
Power of attorney is a document that appoints one or more persons as agents (or "attorney in fact") to act on behalf of the "maker" or "principal".
There are two types of powers of attorney acceptable to Putnam:
- Normal power of attorney (POA) is voided if the grantor becomes incapacitated or dies.
- A "durable" power of attorney (POA) remains in effect if the grantor becomes incapacitated, but is voided if the grantor dies.
Putnam only accepts a certified POA within 90 days of the certification to ensure the document has not been revoked and that the POA maker is still alive.
Note: A "health-care power of attorney" may not be used to act on accounts in the Putnam funds.
What are my options to move retirement assets?
There are a number of options for moving retirement assets from one institution to another and from one plan to another, such as trustee-to-trustee transfers and direct rollovers and indirect (60-day) rollovers.
Information specific to retirement plans offered by Putnam may be found in each plan's disclosure statement. Please consult your financial or tax advisor for more information as to which options may be available to you.
Is Putnam required to withhold taxes on distributions from non-qualified retirement plans?
Non-qualified plan types:
- IRA rollover
- Roth IRA
- Roth IRA conversion
- Salary reduction employee pension plan (SARSEP)
- SIMPLE IRA
- Simplified employee pension plan (SEP)
Generally, all distributions are considered taxable income for the tax year in which they are processed and will be reported on Form 1099-R. Only after-tax contributions can be redeemed without tax liability, but IRS regulations state that distributions must be a proportionate mix of both after-tax and pretax contributions.
A 10% federal tax withholding is required on all distributions from non-qualified retirement plans except Roth IRA plans, unless the shareholder specifies to "opt out" of withholding. Shareholders who are U.S. citizens but do not live in the United States and/or those who have not provided a tax identification number cannot opt out of tax withholding.
Exception: U.S. citizens with a U.S. residence having a special mailing address outside the country may opt out of tax withholding if a tax ID has been provided.
In addition, Putnam withholds state taxes on retirement distributions for residents who live in a state that requires state income tax to be withheld when federal income tax is withheld.
For more information regarding the tax consequences of a distribution from any retirement plan, please consult your financial or tax advisor.
Can Putnam provide financial, legal, or tax advice?
No. For advice on these topics, please consult with your financial advisor, attorney, or accountant.
Can Putnam recommend a financial advisor?
Putnam believes that every investor should work with a financial advisor. However, we do not recommend specific individuals.
Do I need a financial advisor?
In a world of rapidly changing markets — and thousands of mutual funds from which to choose — a full-service financial representative is an invaluable resource for investors.
A financial representative can help you narrow your investment options to those that are most suited to you. Even the most experienced investors benefit from the comprehensive research, timely information, and expertise that a financial professional can provide.
Putnam recommends that you work with a financial advisor. Although Putnam funds are primarily sold through financial advisors, Putnam does not require that you have an advisor listed on your account.
Does Putnam report cost basis to the IRS?
Cost basis is the cost of shares you purchase, including reinvested dividends and capital gains distributions. The cost may be adjusted for any applicable sales charges or transaction fees.
When you sell shares in a taxable account, the cost basis accounting method you choose helps determine how your gain or loss is calculated.
For many years, Putnam has provided cost basis information as a service to shareholders, but did not report this information to the IRS. Beginning with the 2012 tax year, IRS regulations require mutual funds to:
- Report cost basis information to shareholders and the IRS on Form 1099-B
- Choose a default cost basis method if a shareholder does not elect a specific method
The new regulations apply to shares of mutual funds purchased in certain accounts on or after January 1, 2012 (covered shares), and subsequently sold or exchanged from the account. The regulations do not require mutual fund companies to report cost basis for shares purchased prior to January 1, 2012 (non-covered shares), and do not apply to shares in retirement plan accounts, education savings plan accounts, or money market funds.
Putnam has elected to use Average Cost (ACST) as its default cost basis reporting method; however, shareholders will be allowed to choose a different method or change their existing method. The other available methods are:
- First In, First Out (FIFO)
- High Cost, First Out (HIFO)
- Last In, First Out (LIFO)
- Loss/Gain Utilization (LGUT)
- Low Cost, First Out (LOFO)
- Specific Lot Identification (SLID)
For more information visit https://www.putnam.com/costbasis/
Do I need to be a U.S. citizen to open an account?
Putnam funds accept investments from legal residents of the United States who can provide a valid U.S. taxpayer identification number that Putnam can independently verify.
Putnam funds generally do not accept investments from non-U.S. persons who do not have a residential address within the United States.
What is the $15 to $25 redemption from my educational/retirement account?
As disclosed in your Putnam retirement plan and disclosure statement, Putnam assesses annual fees for retirement accounts for which Putnam Fiduciary Trust Company acts as directed trustee.
These fees are assessed in January of each year and will show as redemption on your summary statement. The fee is not a taxable distribution.