The amount shown in box 6 ("Foreign Tax Paid") of the enclosed 2010 Form 1099-DIV is your portion of the foreign taxes paid by the Fund. Federal tax rules require us to also include the amount of foreign tax paid in box 1 of your Form 1099-DIV. This information is provided for those investors who will either take an itemized deduction for foreign taxes paid or will elect to take a foreign tax credit on their Federal income tax return.

Disregard this information if you don't intend to deduct Foreign Tax Paid or to claim the Foreign Tax Credit.

For investors taking a deduction for foreign taxes paid

Simply include the amount shown in box 6 on Form 1099-DIV as an itemized deduction on Schedule A (Form 1040).

For investors electing to claim the foreign tax credit

Election not to file Form 1116 — If you are an individual, whose only foreign source income is passive income (dividends, interest, etc.) that is reported to you on a Form 1099-DIV or Form 1099-INT and your foreign taxes for the tax year are less than $300 ($600 if filing a joint return) you may elect not to file Form 1116. Instead, simply include the amount shown in box 6 on Form 1099-DIV as a credit on Form 1040, Line 47.

For those individuals who are required to file Form 1116 and for corporations filing Form 1118, the requirement to report foreign source income and foreign taxes paid information on a country-by-country basis has been eliminated.

For Federal tax purposes, the following Funds hereby designate their respective per share amounts of foreign taxes paid and foreign source income during the year ended December 31, 2010:

This is important tax information and should be retained for your records.

Click here to read our Online Privacy Policy and Terms of Use.
© MBSC Securities Corporation, Distributor