TAX CENTER

Mutual funds, like most financial products, involve taxes. A "taxable event" is a transaction that creates tax implications. Mutual fund taxable events may result when:

• You receive dividends and/or capital gain distributions from the fund. Federal tax laws require funds to pay out all or virtually all net income and net capital gains, if any, to shareholders in the form of cash or reinvested shares. The tax implications depend on the type of distribution and the type of account you own.
  
• You sell (redeem or exchange) fund shares. The tax implications vary depending on the type of account you own. In addition, some states may impose an intangibles tax on the value of shares owned.

Taxable accounts

Distributions are generally taxable the year they are received (whether as cash or reinvested shares). One exception is that certain distributions declared in the last three months of one year but paid in January of the next year are taxed in the year they were declared.

Tax-deferred accounts

For IRAs and other tax-deferred accounts, dividend and capital gains distributions are not taxable until you withdraw such distributions.

Tax-exempt accounts

Distributions of income are generally not taxable. Keep in mind, however, that distributions from capital gains generally are taxable.

Other important distribution information for individual taxpayers:

• Distributions of long-term capital gains and from certain qualified dividends are generally not taxed at a rate greater than 20%.
• Shareholders must hold the stock for more than 60 days during a specific period to obtain the lower tax rate on distributions of qualifying dividends.
• Distributions of earnings from nonqualifying dividends, interest income, other types of ordinary income, and short-term capital gains (i.e., on shares held for less than one year) will be taxed at the ordinary income tax rate applicable to the taxpayer.

• Ordinary income dividend distributions
  Mutual funds that invest in interest-bearing bonds or certain types of dividend-paying stocks pass any resulting income to shareholders after deducting fund expenses. For tax-exempt funds, most income is generally exempt from federal income tax; however, it is possible that a tax-exempt fund could earn taxable interest income. Such income would be distributed to shareholders as "taxable" income dividends.
• Capital gain distributions
  When mutual funds sell securities for a profit (or loss), the fund realizes a capital gain (or loss). Securities sold and owned by the fund for less than one year result in "short-term" gains or losses. Securities sold and owned by the fund for one year or longer generally result in "long-term" gains or losses. Funds offset any gains with any losses during its tax year and any capital loss carry-forward amounts from prior tax years, and if any net gains remain, they are distributed to shareholders.
• Distributions of qualified dividends
  Dividend distributions derived from certain qualifying dividends on corporate stock are subject to a maximum tax rate for individual taxpayers of 20%. Note that distributions of earnings from dividends paid by certain "qualified foreign corporations" can also qualify for the lower tax rates on qualifying dividends. Shareholders must satisfy a 60-day holding period requirement to obtain the lower tax rates on distributions of qualifying dividends.

Generally, when you sell (redeem or exchange) mutual fund shares, you create a taxable event. Tax implications vary, depending on the type of account you own:

• Taxable accounts
  Selling mutual fund shares usually results in a taxable capital gain or loss, based on your "cost basis" (i.e., what you originally paid for the shares plus any reinvested dividends). Selling shares for more than your cost basis results in a capital gain and selling shares for less than your cost basis results in a capital loss.
  
  If you sell shares owned for one year or less, the resulting gain or loss is considered "short-term." If you sell shares owned for longer than one year, the gain or loss is considered "long-term." Under current law, the maximum tax rate for individuals on long-term capital gains is generally 20%.
  
  The IRS views the exchange out of one fund and into another as a sale of one investment and the purchase of another. If you had such a transaction during the year, Transamerica Funds will report this to you and the IRS on Form 1099-B. Redemptions and exchanges from money market accounts, however, are not reported on Form 1099-B, because your proceeds and cost basis are usually the same (no gain or loss).
  
  Please note: If you receive an exempt-interest dividend on shares that you held for six months or less, any loss on the sale, redemption, or exchange of the shares will generally be disallowed up to the exempt-interest dividend amount you received.
• Tax-deferred accounts
  When you sell shares and then withdraw the proceeds from a qualified plan or tax-deferred account such as a Traditional IRA, you generally create a taxable event. Typically, every dollar withdrawn from the account is taxable at your ordinary income tax rate.
  
  Further, should you withdraw money from a tax-deferred account before the age of 59½, you may be subject to an additional 10% federal tax penalty. Distributions from tax-deferred accounts are reported to you and the IRS on Form 1099-R.

As with all mutual funds, Transamerica funds may be required to withhold U.S. federal income tax at the fourth lowest tax rate applicable to unmarried individuals (currently 24% as of January 1, 2018) on all taxable distributions payable to you if: a) you fail to provide the fund with your correct taxpayer identification number; b) you fail to make required certifications; or c) if you have been notified by the IRS that you are subject to backup withholding.

Backup withholding is not an additional tax; it is a method by which tax laws ensure the collection of taxes due. Any amounts withheld may be credited against your U.S. federal income tax liability.

See how mutual fund terms compare with tax terms.

Regarding distributions and their effect on share price and account balance, first keep in mind three important dates:

• Record date
  The date (as of close of business) on which a shareholder must own shares in order to receive a declared dividend or capital gain distribution.
• Ex-dividend date (also known as "Ex-date")
  The date on which the net asset value (NAV) is reduced by the amount of a distribution, to account for being paid out to shareholders either as cash or in the form of reinvested shares at the reduced ex-date price.
• Payable date
  The date that distributions (in the form of cash or reinvested shares) are sent to shareholders. This date is often, but not always, several days after the ex-date.

Distributions are generally taxable events that do not increase the value of your account. When distributions are paid, the total distribution per share reduces the fund's Net Asset Value (NAV) per share by the same amount.

If distributions are reinvested, the fund adds shares to your account soon after the ex-date. Since the NAV price is lower, however (assuming no market fluctuation effects on the ex-date), your account balance is unchanged from the distribution.

If you receive distributions in cash, no shares are added to your account since the money is paid out to you, and your account value would decrease by the amount of cash paid.

As an investor, you should be aware of the potential of "buying a distribution" by investing near the "record date" of a distribution. Because distributions are made evenly across all shares owned on the record date, regardless of how long you've owned them, when you invest just before or on the record date for a fund's distribution, you end up receiving a portion of your investment back in the form of a taxable distribution.

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Transamerica Inflation-Protected Securities ROC - 2023

Transamerica Inflation Opportunities ROC - 2023

Transamerica Unconstrained Bond ROC - 2023

Transamerica Inflation-Protected Securities Merger - 2023

Transamerica Floating Rate - 2022

Transamerica Energy Infrastructure - 2022

Transamerica Capital Growth - 2022

Transamerica Unconstrained Bond - 2022

Transamerica Sustainable Equity Income - 2022

Transamerica Dynamic Income - 2021

Transamerica Energy Infrastructure - 2021

Transamerica Government Money Market - 2021

Transamerica Global Equity merger - 2021

Transamerica Dynamic Income merger - 2021 

Transamerica Dynamic Income – 2020

Transamerica High Yield Muni - 2020

Transamerica Unconstrained Bond - 2020

Transamerica Emerging Markets Debt - 2020

Transamerica Intermediate Muni - 2020

Transamerica MLP & Energy Income - 2020

Transamerica International Value - 2020 Liquidation

Transamerica Small Cap Core - 2020 Liquidation

Transamerica Dynamic Allocation - 2019 Liquidation

Transamerica Dynamic Income – 2019

Transamerica Unconstrained Bond – 2019

Transamerica MLP & Energy - 2019

Transamerica Concentrated Growth - 2019 Merger

Transamerica Growth - 2019 Merger

Transamerica Multi-Cap Growth - 2019 Merger

Transamerica Dynamic Income – 2018

Transamerica Unconstrained Bond – 2018

Transamerica Bond II – 2018

Transamerica Emerging Markets Debt – 2018

Transamerica MLP & Energy - 2018

Transamerica Dynamic Income – 2017

Transamerica MLP & Energy - 2017

Transamerica Short-Term Bond – 2016

Transamerica Dynamic Income – 2016

Transamerica Emerging Markets Debt – 2016

Transamerica Dynamic Allocation II - 2015

Transamerica Income and Growth - 2015

Transamerica MLP & Energy - 2015

Transamerica Vanguard ETF Portfolio Aggressive Growth VP - 2014

Transamerica Efficient Markets VP - 2013

Transamerica Third Avenue Value VP - 2013

Transamerica Tactical Income - 2013

Transamerica WMC Dividend Growth - 2012

Transamerica Morgan Stanley Mid Cap Growth - 2012

Transamerica Total Return - 2022

Transamerica High Quality Bond Merger - 2022

Transamerica Dynamic Income – 6/2018

Transamerica Dynamic Income – 7/2018

Transamerica Dynamic Income – 8/2018

Transamerica Dynamic Income – 9/2018

Transamerica Dynamic Income – 10/2018

Transamerica Dynamic Income – 11/2018

Transamerica Dynamic Income – 12/2018

Transamerica Dynamic Income – 1/2019

Transamerica Dynamic Income – 2/2019

Transamerica Dynamic Income – 3/2019

Transamerica Dynamic Income – 4/2019

Transamerica Dynamic Income – 5/2019

Transamerica Dynamic Income – 6/2019

Transamerica Dynamic Income – 7/2019

Transamerica Dynamic Income – 8/2019

Transamerica Dynamic Income – 9/2019

Transamerica Dynamic Income – 10/2019

Transamerica Dynamic Income – 11/2019

Transamerica Dynamic Income – 12/2019

Transamerica Dynamic Income – 1/2020

Transamerica Dynamic Income – 2/2020

Transamerica Dynamic Income – 3/2020

Transamerica Dynamic Income – 4/2020

Transamerica Dynamic Income – 5/2020

Transamerica Dynamic Income – 6/2020

Transamerica Dynamic Income – 7/2020

Transamerica Dynamic Income – 8/2020

Transamerica Dynamic Income – 9/2020

Transamerica Dynamic Income – 10/2020

Transamerica Dynamic Income – 11/2020

Transamerica Dynamic Income – 12/2020

Transamerica Dynamic Income – 1/2021

Transamerica Dynamic Income – 2/2021

Transamerica MLP & Energy Income – 3/2018

Transamerica MLP & Energy Income – 6/2018

Transamerica MLP & Energy Income – 9/2018

Transamerica MLP & Energy Income – 12/2018

Transamerica MLP & Energy Income – 3/2019

Transamerica MLP & Energy Income – 6/2019

Transamerica MLP & Energy Income – 9/2019

Transamerica MLP & Energy Income – 12/2019

Transamerica MLP & Energy Income – 3/2020

Transamerica MLP & Energy Income – 6/2020

Transamerica MLP & Energy Income – 9/2020

Transamerica MLP & Energy Income – 12/2020

Transamerica MLP & Energy Income – 3/2021

Transamerica Energy Infrastructure – 6/2021

Transamerica Energy Infrastructure – 9/2021

Transamerica Energy Infrastructure – 12/2021

Transamerica Energy Infrastructure – 3/2022

Transamerica Energy Infrastructure – 6/2022

Transamerica Energy Infrastructure – 9/2022

Transamerica Energy Infrastructure - 12/2022

Transamerica Energy Infrastructure - 3/2023

Transamerica Energy Infrastructure - 6/2023

Transamerica Energy Infrastructure - 9/2023

Transamerica Energy Infrastructure - 3/2024

Transamerica High Yield Muni – 12/2020

Transamerica Unconstrained Bond – 12/2020

Transamerica Emerging Markets Debt - 12/2020

Transamerica Intermediate Muni - 12/2020

Transamerica Total Return - 2022

Transamerica Energy Infrastructure - 6/2024

Transamerica Energy Infrastructure - 9/2024

• Form 1099-DIV (dividends or capital gain distribution paid to taxable accounts during the year.)
• Form 1099-B (reports proceeds from sale or exchange of shares of non-retirement plan accounts during the year; cost basis is included for most regular accounts where available. Money market funds are excluded.)
• Form 1099-Q (reports payments from Qualified Education Programs under Internal Revenue Code (IRC) sections 529 and 530 including Coverdell Education Savings Accounts, which list State Street Bank as custodian.)
• Form 1099-R (reports distributions from IRAs, 403(b) and other retirement plan accounts listing State Street Bank as custodian.)

Corrected Form 1099-B (If you sold shares in December at a loss, and purchased shares of the same fund within 30 days of the sale, we will send a corrected 1099-B to reflect a wash sale. In such cases, the IRC requires the associated "wash sale loss" to be deferred. Revised cost-basis and gain (loss) information on Form 1099-B, if applicable, will be mailed to you.)

Form 1042-S (reports dividends and/or capital gains paid during the year to non-U.S. citizens or residents.)

Form 5498 and Form 5498-ESA (reports contributions into retirement plan accounts such as IRAs which list State Street Bank as custodian.)

Go to Manage Your Account, click Transactions on the Account Balance screen; then click Duplicate Tax Forms.

Call Transamerica Funds InTouch at 888-233-4339

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Enter Social Security or fund and account number.

If you'd like to speak with a customer service representative weekdays from 8 a.m. to 7 p.m. ET, call 888-233-4339, and then press option 1, and then option 2.

Also referred to as direct deposit, the electronic banking network in the U.S. through which payments are sent between banks and their customers. The ACH network allows Transamerica Funds to deposit money directly into a shareholder's bank account for things such as dividends or redemptions (either as requested or under a Systematic Withdrawal Plan or a recurring schedule). Payments flow the other way as well when shareholders purchase Transamerica Funds shares, paying for them via money transferred from their bank account. Direct deposit is faster, more secure/private, more convenient, and less costly than paying by check.

Federal or state tax rules that aim to have taxpayers compute their taxes both through traditional means as well as an alternate set of rules. If the AMT rules produce a tax liability greater than that from traditional means, the taxpayer generally must pay the higher AMT required tax. The IRS instituted these rules to ensure some taxpayers with certain situations pay at least some tax. Some portion of tax-exempt fund dividends may be derived from private activity bonds, which are a tax-preference item for the AMT.

The IRS approved method Transamerica Funds uses to track shareholders' cost basis of fund shares of taxable non-money market accounts. More specifically, Transamerica Funds uses the "single-category" average cost basis, which does not keep separate cost basis categories for both long-term and short-term basis. Transamerica Funds does however keep track of your short-term or long-term holding periods (how long you held your shares), based upon the first-in-first-out (FIFO) method. If you sell shares of a taxable non-money market fund account during the year, Transamerica Funds will send you Form 1099-B after year end, which generally will show the average cost basis of shares sold to consider using to complete your income tax returns.

A sales charge or commission paid when an individual sells an investment, such as a mutual funds or an annuity. Intended to discourage withdrawals. Also called redemption fee or deferred sales charge.

The gain (profit) or loss resulting from the sale of a capital asset such as an investment. If the fund sells investment securities at gain, it distributes those profits to shareholders as a capital gain distribution. If a shareholder sells fund shares of a taxable account at a profit, the shareholder realizes a capital gain. Mathematically, capital gain or loss = proceeds minus cost basis. The capital gain or loss is short-term if the investment was held one year or less, or long-term if the investment was held longer than one year. Current federal individual income tax rates tax most net long-term capital gains at a maximum rate of 20%.

Also termed a back-end or rear-load, a sales charge or exit fee imposed on certain Transamerica Funds share classes sold within a specified period. These charges are usually assessed on a sliding scale, such as 5% of amounts redeemed the first year, 4% the second year, 3% the third year, and so on.

Generally the original price paid for an investment, used to determine capital gain or loss on sales of investments such as fund shares or securities the fund owns. Generally, front-end loads are part of cost basis as it is included in the price you paid for such shares. See also contingent deferred sales charge and average cost basis.

See ACH (Automated Clearing House).

Distribution or payment of a mutual fund's net income (interest and dividend income less fund expenses) to its shareholders, whether paid in cash or reinvested to purchase additional fund shares. For taxable accounts, dividends are taxed as income in the year they are received, whether in cash or reinvested. Tax-exempt funds might distribute taxable dividends, though that is usually not their aim. They usually distribute tax-exempt (exempt-interest) dividends. For year-end tax reporting on taxable accounts, mutual funds include income dividends that are not tax-exempt dividends plus any short-term capital gain distributions in one category on your Form 1099-DIV as ordinary dividends. Income dividends paid by taxable money market funds are dividend income to shareholders, not interest income.

Also termed "ex" or "ex-date" for short; a synonym for "without dividend," it is the day or days on which stock or mutual fund shares are purchased that are not entitled to receive a recently declared dividend or capital gain distribution. For mutual funds, the ex-date usually comes after the record date, whereas for corporate stock, ex-dates typically come before the record date. An income dividend or capital gain distribution gets deducted from a fund's share price on the ex-date, even if the fund price ended overall either up or down for the day due to market fluctuations.

An IRS form Transamerica Funds sends to report dividends or short-term capital gain distributions to non-US shareholders.

An IRS tax form Transamerica Funds will send to you and the IRS if you sold (redeemed) shares from a non-money market fund taxable account during the year. It shows you details such as proceeds, cost basis and gain or loss, to be used to complete your income tax return. Redemptions of taxable account money market fund shares are not reported on this form because their cost basis is usually the same as the proceeds from the sale of shares.

An IRS tax form Transamerica Funds will send to you and the IRS showing the dividends and/or capital gain distributions made to an individual's taxable account during the tax year. Corporate shareholders are not sent this form. This form is also not sent where an individual's total taxable distributions are less than $10 for the year, however you must still report this taxable income on your income tax return. If this applies to you, you may find the year-end totals from your year-end investment report/confirmation. Income dividends paid by taxable money market funds are dividend income to shareholders, not interest income.

An IRS tax form Transamerica Funds will send you and the IRS if you had any taxable distributions (including in-kind distributions) from a qualified tuition program (Section 529) or a Coverdell ESA (Section 530) during the year.

An IRS tax form Transamerica Funds will send you and the IRS if you had any taxable withdrawals from tax-deferred accounts such as IRAs during the year.

An IRS form Transamerica Funds sends reporting contributions for Transamerica Funds tax-deferred (retirement plan) accounts such as IRAs, naming State Street Bank as custodian. This form also reports the (fair market) value of the Transamerica Funds account as of December 31 of the preceding year.

An IRS tax form Transamerica Funds will send you and the IRS reporting contributions and rollovers made to a Coverdell Education Savings Account naming State Street Bank as custodian.

A sales charge paid when an individual buys an investment, such as a mutual fund, limited partnership, annuity, or insurance policy. The load is clubbed with the first payment made by an investor, so the total initial payment is higher than the later payments. The purpose of a load is to cover administrative expenses and transaction costs and sometimes to discourage asset turnover. Opposite of back-end load.

The length of time investments are owned. For shares of taxable non-money market accounts you may have sold or exchanged, your holding period, and thus any resulting capital gain or loss, is short-term if you held the shares for one year or less, or long-term, if the shares were held for more than one year. When selling mutual fund shares and using average cost basis information Transamerica Funds may provide you, it is assumed the shares you held the longest time are sold first (first-in-first-out or FIFO).

A tax imposed by federal, state or local governments on income. See also Alternative Minimum Tax (AMT).

A tax-deferred retirement account in which individuals can invest up to $6,000 per year (or $7,000 for those aged 50 or more) for tax years 2019, 2020, 2021, and 2022. Earnings are tax-deferred (or tax-free with a Roth IRA) until withdrawals begin at age 59-1/2 or later. For Traditional IRAs, a 10% penalty (additional income tax) generally applies to earnings withdrawn before age 59-1/2. Withdrawals from a Traditional IRA must begin by age 72. Contributions are deductible against earned income under certain circumstances, depending on income levels and retirement plan participation.

A tax imposed by some states or jurisdictions that is based upon the value of assets such as mutual fund shares, as distinguished from taxes on income.

A sales charge applied to the purchase of a mutual fund as a form of compensating brokers or financial professionals for their advice and service. See contingent deferred sales charge, back-end load, front-end load.

Also termed "return of capital" distributions; not to be confused with tax-exempt dividends, any such amount a mutual fund would distribute would represent a return of your investment principal or cost basis for taxable accounts. Such distributions, if any, would be reported to recipients of Form 1099-DIV and reduce your cost basis.

An IRS term representing taxable dividends that are not (long-term) capital gain distributions that are reported on Form 1099-DIV. For mutual funds, this category represents income dividends and short-term capital gain distributions paid. Ordinary dividends are taxed at ordinary income rates (unless qualified - see below), just like wages and most other income, as opposed to lower, capital gains tax rates. Tax-exempt dividends are not included in ordinary dividends.

Also termed an "unrealized gain or loss", any profit or loss on an investment (mutual fund shares or securities a fund owns) that is not realized because they have not actually been sold. If an investment is purchased and its price (fair market value) increases, a paper or "unrealized" capital gain has taken place. This gain only becomes realized (and thus taxable) upon selling the investment. See realized capital gain or loss.

The date on which declared dividends or capital gain distributions are disbursed to shareholders of record. For Transamerica Funds accounts with the cash dividend by check option, this is the date checks are mailed. For cash dividend accounts by direct deposit, this is the date that payments are credited to bank accounts.

The amount realized (received) from the sale of an asset such as mutual fund shares. For funds with contingent deferred sales charges, it is the amount from redemption reduced by any such charges.

An IRS term used to describe ordinary dividends subject to a maximum 20% tax rate.

Usually referred to simply as a "capital gain or loss".

The date (as of close of business) on which a shareholder must own fund shares in order to receive a declared dividend or capital gain distribution, or to vote on fund issues in a proxy or shareholder meeting.

The effective date on which reinvested shares are posted to fund accounts using the reinvestment privilege.

The share price used to determine the number of shares reinvested into a fund account using the reinvestment privilege. Distributions from fund reinvest option accounts are reinvested at NAV (Net Asset Value) - no sales loads are charged.

The feature funds offers for shareholders to reinvest their dividends or capital gain distributions to purchase additional fund shares, or to direct dividends from one fund to purchase shares of a different fund. Fund accounts are established with this privilege unless shareholders request distributions to be paid in cash. Funds do not charge any fees to reinvest dividend or capital gain distributions. Reinvesting distributions may enhance investment returns over time due to the compounding effect of growth and/or distributions over time.

A feature offered by Transamerica Funds where money is paid to shareholders by direct deposit or check as a result of periodic redemptions (sales) of shares from their Transamerica Funds account. As with most any redemptions, there are tax consequences of selling mutual fund shares.

Also termed a "retirement", "qualified plan", or "tax qualified" account; it is an account or investment whose accumulated earnings are not taxed until the investor takes possession of (withdraws) them. In IRAs, for example, all dividends, interest and appreciation accumulate until the account owner starts withdrawing funds from the account, usually at age 591/2. Contributions that may have been deducted off of income in the past are also included as taxable income when withdrawn.

Also termed a "regular" or "non-retirement" account, it is an account whose earnings (such as dividends or capital gain distributions) are taxable as they are paid/credited.

Dividends paid by a tax-exempt fund from its net tax-exempt income (interest income on tax-exempt investments such as municipal securities less fund expenses). The federal government and many states generally do not impose income tax on tax-exempt dividends.

A mutual fund that invests in municipal securities and distributes tax-exempt dividends which are dividends that are generally not subject to income tax. Short-term or long-term capital gain distributions paid by these funds are not exempt from income taxes however, and shares of these funds, just as fund shares in taxable accounts, may be subject to some states that impose an intangible tax.

The yield before taxes that a taxable mutual fund or bond would have to pay to be equal to the tax-free yield of a mutual fund or municipal bond. The tax-equivalent yield depends on an investor's tax bracket. The higher the tax bracket, the more attractive the tax-free income becomes. For example, a tax-free yield of 7% is equivalent to a taxable yield of 9.7% for an investor in the 28% federal income tax bracket, and to a taxable yield of 10.9% for an investor in the 36% tax bracket.

Within the meaning of the IRS and fund shares, the purchase of fund shares within 30 days before or after having sold or exchanged shares of the same fund at a loss. The IRS disallows deducting such as loss in the year sold, but rather makes you defer deducting the loss until such time you dispose of the shares purchased that triggered the loss deferral. If this situation applies to your Transamerica Funds account, Transamerica Funds adjusts your Form 1099-B information for wash sales. In the rare case you sold shares in December at a loss and had a purchase in January the next year, Transamerica Funds will send you a corrected Form 1099-B in February, so do not prepare your taxes until you're sure you have a final form 1099-B.

Amounts withheld by Transamerica Funds either at your request, or perhaps required to be done according to federal or other government laws. Any federal, state, or other withholding that was withheld by Transamerica Funds from dividend or capital gain distributions, or from any sales or exchanges of Transamerica fund shares is paid to the appropriate taxing authority on your behalf. Any such withholding will be reported to you and the IRS on applicable tax forms Transamerica Funds may send you. Withholding either increases your refund or reduces the amount you owe the government on your income tax returns.

The income earned on an investment, expressed as a percentage of the price. The period over which yield may be calculated can vary such as a 1 day, 30 day or annual (365 day) yield. For mutual funds, the Securities and Exchange Commission requires a standardized formula be used to quote "30-day SEC yield". See tax-equivalent yield.