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What is the Bank of America Fair Fund all about?
Can I read a copy of the distribution plan?
What is an Unaffiliated Fund?
How was my distribution payment amount calculated?
I hold shares of these funds through my broker. How will I
receive that payment?
How do I know if I am going to get a payment?
How did you decide which funds were eligible and which funds
were not eligible?
I am sure that I am eligible for more of a payment. What do
I need to do?
I know that I should have gotten a payment, but I never received
one. Who should I contact?
I hold shares of these funds through my employer’s 401(k)
plan. Am I eligible for a distribution?
Is this payment taxable?
I have recently gotten married/divorced and changed my name.
Can I still cash my check?
I received a check made payable to my relative who is now
deceased – what do I do?
I received a check made payable to an entity (trust, corporation,
partnership, etc) that no longer exists. What do I do?
I received a check but lost it. How can I replace the check?
Can the proceeds from the settlement be invested back into
my account?
I received a check associated with an IRA account. Can I cash
the check?
I received a check associated with a qualified retirement
plan. What should I do with the check?
What is the Bank of America Fair Fund all about?
In February 2005 affiliates of Bank of America reached a settlement with the Securities
and Exchange Commission (SEC). The SEC established a settlement fund (Fair Fund)
for the benefit of shareholders who may have been affected by short-term or excessive
trading activity in certain Nations Funds mutual funds from January 2000 to December
2003. The Fair Fund in this proceeding also addresses trading in other fund families
where such trading was found to have been facilitated by Banc of America Securities,
LLC, a registered broker-dealer. For more information, click on the link to the
Plan of Distribution in the Helpful Links on this website.
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Can I read a copy of the distribution plan?
Yes. A copy of the Distribution Plan is available on the SEC website. A link to
the plan is available under Helpful Links on this website.
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What is an Unaffiliated Fund?
The “Unaffiliated Funds,” referred to in the response to the first question above,
are defined in the Plan of Distribution.
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How was my distribution payment amount calculated?
The calculations are based on several factors, such as fund class, fund class values,
account balances and overall trading activity, as well as other variables. The calculations
are very complex and it would be difficult to provide a single algorithm that could
be applied to every individual. In general, though, the amount of a distribution
depends on the extent to which a holder’s share balance was diluted as a result
of short-term or excessive trading activity during the period in which the holder
held shares.
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I hold shares of these funds through my broker. How will I receive
that payment?
Please contact your broker for details regarding your payment. If you were an account
holder of record between January 2000 and December 2003 in one of the funds eligible
for distribution under the Distribution Plan, you may be eligible for payment. For
a list of affected funds, please see the List of Affected Funds under Helpful Links
on this website.
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How do I know if I am going to get a payment?
If you were an account holder of record between January 2000 and December 2003 in
one of the affected funds, you may be eligible for payment. For a list of affected
funds, please see the List of Affected Funds under Helpful Links on this
website.
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How did you decide which funds were eligible and which funds were
not eligible?
The funds that were classified as eligible to receive distributions are those funds
that were determined to have been affected by short-term or excessive trading activity
during the relevant time period. For a list of affected funds, please see the List
of Affected Funds under Helpful Links on this website.
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I am sure that I am eligible for more of a payment. What do I need
to do?
Please contact the Fund Administrator at 1-866-730-8148 with questions. The hours
of the call center are 8:00 a.m. to 5:00 p.m., Central Time.
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I know that I should have gotten a payment, but I never received
one. Who should I contact?
Please contact the Fund Administrator at 1-866-730-8148 with questions. The hours
of the call center are 8:00 a.m. to 5:00 p.m., Central Time.
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I hold shares of these funds through my employer’s 401(k) plan.
Am I eligible for a distribution?
Please contact the plan administrator or financial intermediary of the retirement
plan. According to the Plan of Distribution, plan administrators and financial intermediaries
of retirement accounts are required to distribute the monies received under this
Plan in accordance with their fiduciary and contractual obligations, and consistent
with guidance issued by the Department of Labor.
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Is this payment taxable?
In some circumstances, the distribution could be taxable. As a result, we recommend
that you consult with your tax advisor prior to cashing the check. For additional
information, you should also review the pertinent Statement to Eligible Investors
available on this website in the Tax Information section. If you are or were
a Nations Funds holder, please review the Statement to Eligible Investors
(Nations Funds holders only). If you are or were a holder in an Unaffiliated Fund,
please review the Statement to Eligible Investors for Unaffiliated Funds Holders
(all other mutual fund holders).
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I have recently gotten married/divorced and changed my name. Can
I still cash my check?
When you go to the bank to cash the check, you may need to bring supporting documentation
such as a copy of your marriage certificate/divorce decree or a copy of a court
approved name change document with you. For specific instructions, please contact
your bank. If the bank will not cash the check, please contact the Fund Administrator
at 1-866-730-8148. The hours of the call center are 8:00 a.m. to 5:00 p.m., Central
Time.
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I received a check made payable to my relative who is now deceased
– what do I do?
Please contact the Fund Administrator at 1-866-730-8148 with questions. The hours
of the call center are 8:00 a.m. to 5:00 p.m., Central Time.
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I received a check made payable to an entity (trust, corporation,
partnership, etc) that no longer exists. What do I do?
Please contact the Fund Administrator at 1-866-730-8148 to discuss your specific
situation. The hours of the call center are 8:00 a.m. to 5:00 p.m., Central Time.
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I received a check but lost it. How can I replace the check?
Please contact the Fund Administrator at 1-866-730-8148. A stop payment will need
to be initiated on your current check and a new check will be reissued. The reissue
process will take approximately 4-8 weeks.
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Can the proceeds from the settlement be invested back into my account?
Please contact your account broker or other financial intermediary for details.
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I received a check associated with an IRA account. Can I cash the
check?
No, you will not be able to negotiate this check. In most cases, the check has been
made payable to the trustee or custodian of the IRA and you should deposit the check
in your IRA account. If the check is cashed or deposited in any account other than
an account eligible to receive the check, it may be subject to a 10% penalty and
taxed as ordinary income in the year of receipt.
If your IRA custodian has changed, please contact the Fund Administrator at (866)
730-8148 with that information. You may be able to transfer the payment to another
custodian, or roll the payment over to another IRA or eligible account.
If you no longer hold your IRA, please contact the Fund Administrator at (866) 730-8148
with that information
It is very important that you understand the tax implications that may arise in
connection with this payment. As a result, prior to depositing or negotiating the
check, please consult with your tax advisor and review the pertinent Statement to
Eligible Investors available on this website.
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I received a check associated with a qualified retirement plan.
What should I do with the check?
If you are still a participant in the tax-qualified retirement plan, contact your
retirement plan trustee/administrator to coordinate the deposit of the check to
your retirement plan. If you are no longer a participant in the tax-qualified retirement
plan to which the distribution is directed, please contact the retirement plan trustee/administrator
of your former tax-qualified retirement plan to determine the appropriate course
of action.
If you are unable to make contact with the plan trustee/administrator of the retirement
plan, please contact the Fund Administrator at (866) 730-8148.
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