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March 10, 2019
5:10 pm
hotmony
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The rbc us$ money market fund pays triple the dividend for december in jan. is this because of a currency exchange adjustment or something else?

March 10, 2019
5:53 pm
Doug
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I'm not sure whether you mean the RBC $US Money Market Fund or the RBC $US Premium Money Market Fund, so would need to clarify that.

Nevertheless, from the RBC Global Asset Management website, they don't appear to state their distribution history, and I can't find the CDS website that shows the classification for tax purposes of mutual fund distributions. I can only find the one that shows the same for ETF and common stock distributions/dividends.

It could also be a capital gains distribution; however, being a money market fund, that seems less likely.

I did find their distributions page, but it only shows the most recent distribution (February 2019). It looks like you're going to have to contact the fund manager:

https://contact.rbc.com/rbcgam/mutual-funds/contact-form.php

and, when you do, also ask them if there's a CDS or FundSERV website you can use to lookup current and historical tax treatment for mutual fund distributions. Also suggest that they include, on their website, historical distribution information, and then report back here and update this thread, for future reference, if you don't mind. sf-cool

Cheers,
Doug

March 10, 2019
6:48 pm
hotmony
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by the way do fund t-slips in this case mmf get sent out late still? i read some complaints a few years back

March 10, 2019
7:21 pm
Doug
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hotmony said
by the way do fund t-slips in this case mmf get sent out late still? i read some complaints a few years back  

I believe the T3 deadline is March 31st, 2019, so they're supposed to be postmarked on or before that date. It is a bit of an annoyance, for sure, when compared to the T5 deadline being February 28th (29th on a leap year). sf-cool

Cheers,
Doug

March 14, 2019
8:25 am
hotmony
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The Rbc premium US$ money market fund paid out a capital gains in December on top of more than the other interest income is anyone aware of this with a mmf? I thought they're managed to be stable, the unit value @10 didn't change, but it still paid out a hefty capital gain..

March 14, 2019
8:37 am
Doug
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hotmony said
The Rbc premium US$ money market fund paid out a capital gains in December on top of more than the other interest income is anyone aware of this with a mmf? I thought they're managed to be stable, the unit value @10 didn't change, but it still paid out a hefty capital gain..  

Thanks for confirming that, hotmony. Capital gains distributions are a sticky thing. The net asset value is managed in such a way so as to remain as close to $10.00, but if they had capital gains on the bonds or debt instruments in the money market fund (i.e., bonds trading at a premium to their par value when they sold them, or when they matured, which is probably more likely), they're required to pass on those capital gains to unitholders since the mutual fund trust doesn't pay taxes - it's a flow-through vehicle whereby end unitholders pay the taxes. That's why it's advisable to never make a large mutual fund or ETF purchase in December - capital gains distributions aren't prorated for partial year ownership. sf-cool

Cheers,
Doug

March 14, 2019
7:35 pm
hotmony
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Anyone know what this is for US$mmf on brokerage statement:

Date: Dec31 Activity BCA
Notional Dist of $1234

Bca? Notional Dist?

March 14, 2019
10:58 pm
Doug
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hotmony said
Anyone know what this is for US$mmf on brokerage statement:

Date: Dec31 Activity BCA
Notional Dist of $1234

Bca? Notional Dist?  

Brokerage statement abbreviations can be challenging to decipher sometimes and that's a tough one! Do you own a stock or fund with the ticker "BCA" by chance? Odd that the "dist" (distribution?) is "1234".

Cheers,
Doug

March 15, 2019
7:57 am
hotmony
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March 15, 2019
10:18 am
hotmony
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Mmf dividend as of 12/31/18 paid out in january 2019 is taxable for 2018 correct?

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