2022 Return of Capital and Reclassifications

Return of Capital

If a T. Rowe Price fund pays out more in distributions than it earned during the year, you do not owe tax on your share of the excess amount, which is called a "nontaxable distribution" or "return of capital." We report this type of distribution in Box 3 of Form 1099-DIV. You will need to subtract any amounts reported in Box 3 of Form 1099-DIV from the cost basis of your shares. For information on IRS Form 8937 and organizational actions affecting the basis of securities, including items such as mergers, fund liquidations, and reclassifications that affect cost basis, commonly referred to as "corporate actions," please visit our website at Corporate Actions.

Listed below are the 2022 dividends paid by the T. Rowe Price funds that have a return of capital for Form 1099-DIV purposes.

2022 Return of Capital

T. Rowe Price Fund 2022 Payment Date Per Share Amount Tax Character
Before After
Emerging Markets Local Currency Bond 01/31/2022 0.021052687 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 02/28/2022 0.020537039 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 03/31/2022 0.022049767 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 04/29/2022 0.023360962 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 05/31/2022 0.021420170 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 06/30/2022 0.022394572 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 07/29/2022 0.022413732 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 08/31/2022 0.023217963 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 09/30/2022 0.022211268 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 10/31/2022 0.021298125 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 11/30/2022 0.022372974 Income Dividend Return of Capital
Emerging Markets Local Currency Bond 12/30/2022 0.025462829 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 01/31/2022 0.022104489 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 02/28/2022 0.021736432 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 03/31/2022 0.023390341 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 04/29/2022 0.024671197 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 05/31/2022 0.023156615 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 06/30/2022 0.023637415 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 07/29/2022 0.023618853 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 08/31/2022 0.024355468 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 09/30/2022 0.023424577 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 10/31/2022 0.022760639 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 11/30/2022 0.023560904 Income Dividend Return of Capital
Emerging Markets Local Currency Bond - I Class 12/30/2022 0.026867478 Income Dividend Return of Capital
Global Real Estate 03/30/2022 0.034824635 Income Dividend Return of Capital
Global Real Estate 06/29/2022 0.030471556 Income Dividend Return of Capital
Global Real Estate 09/29/2022 0.044357879 Income Dividend Return of Capital
Global Real Estate 12/19/2022 0.01687088 Income Dividend Return of Capital
Global Real Estate- I Class 03/30/2022 0.052236953 Income Dividend Return of Capital
Global Real Estate- I Class 06/29/2022 0.034824635 Income Dividend Return of Capital
Global Real Estate- I Class 09/29/2022 0.048754489 Income Dividend Return of Capital
Global Real Estate- I Class 12/19/2022 0.020092159 Income Dividend Return of Capital
International Bond 06/30/2022 0.013382503 Income Dividend Return of Capital
International Bond 07/29/2022 0.013113307 Income Dividend Return of Capital
International Bond 08/31/2022 0.010391345 Income Dividend Return of Capital
International Bond 09/30/2022 0.011022902 Income Dividend Return of Capital
International Bond 10/31/2022 0.007785314 Income Dividend Return of Capital
International Bond 11/30/2022 0.007402410 Income Dividend Return of Capital
International Bond - I Class 06/30/2022 0.014239357 Income Dividend Return of Capital
International Bond - I Class 07/29/2022 0.013988715 Income Dividend Return of Capital
International Bond - I Class 08/31/2022 0.011268820 Income Dividend Return of Capital
International Bond - I Class 09/30/2022 0.011850952 Income Dividend Return of Capital
International Bond - I Class 10/31/2022 0.008496827 Income Dividend Return of Capital
International Bond - I Class 11/30/2022 0.008177390 Income Dividend Return of Capital
Retirement Income 2020 01/20/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 02/17/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 03/17/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 04/20/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 05/18/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 06/17/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 07/19/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 08/17/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 09/19/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 10/19/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 11/17/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 12/19/2022 0.016905853 Income Dividend Return of Capital
Retirement Income 2020 12/29/2022 0.129647388 Long-Term Capital Gain Return of Capital

Reclassifications

A reclassification means that the tax character of the dividend on your Form 1099-DIV is different than the tax character reported on your statement, which reported the dividend to you. Tax character indicates whether the dividend is from taxable or tax-exempt income or is a short-term or long-term gain.

Listed below are the 2022 dividends paid by the T. Rowe Price funds that have been reclassified for Form 1099-DIV purposes.

T. Rowe Price Fund 2022 Payment Date Per Share Amount Tax Character*
Before After
Global Real Estate 12/19/2022 0.030343804 Income Dividend Long-Term Capital Gain
Global Real Estate - I Class 12/19/2022 0.030343804 Income Dividend Long-Term Capital Gain
Real Estate 09/29/2022 0.009359858 Income Dividend Long-Term Capital Gain
Real Estate 12/16/2022 0.089000000 Income Dividend Long-Term Capital Gain
Real Estate - I Class 09/29/2022 0.009359858 Income Dividend Long-Term Capital Gain
Real Estate - I Class 12/16/2022 0.089000000 Income Dividend Long-Term Capital Gain

*Amounts after reclassification only represent the reclassified amount and not necessarily the fund’s total per share for that category.

For more information on Advisor, R, Institutional, and Portfolio funds, please visit our website for financial intermediaries.

202301-2680113

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