Federal law requires Harbor Funds to report contributions, conversions, recharacterizations, and rollovers you made in a tax year, including carry back contributions remitted between January 1 and April 18, 2016. These amounts are indicated on Form 5498. Form 5498 also reports the fair market value of your IRA as of the previous year end balance.
SEP contributions are reported on Form 5498 for the year in which they are received at Harbor. For example, on the 2015 Form 5498, we do not include SEP contributions designated for 2015 that were made in 2016. These will appear on your 2016 Form 5498.
If you have more than one IRA, a separate Form 5498 must be filed for each plan to which you contributed. Additionally, a separate Form 5498 must be filed for each fund in which you are invested and made contributions.
If you attained or will attain age 70½ in 2015, Box 11 is checked on the Form 5498 to remind you to take your required minimum distribution for the current tax year. If you do not take the RMD for 2015, you may be subject to a 50% excess accumulation penalty on the amount not distributed.
Investors should carefully consider the investment objectives, risks, charges and expenses of a Harbor fund before investing. To obtain a summary prospectus or prospectus for this and other information, visit harborfunds.com or call 800-422-1050. Read it carefully before investing.
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