To access a copy of your paid Checkwriting check(s):

1. Enter your User ID and Password on the Individual Investors site and click the "Login" button.
2. Click on the "Putnam Accounts" link.
3. From the left-hand menu, select "Confirmations and statements" and choose the documents you wish to view or download.

Paid Checkwriting checks will display in order of transaction date, with the most recent transaction displaying first. Click the "Show more" link to view additional Checkwriting checks.

Checkwriting checks paid prior to June 8, 2019, will not be available online. To obtain a copy of a Checkwriting check that is not available for viewing online, please contact Putnam Investments. Paid Checkwriting checks are available for up to seven years.

Call 1-800-225-1581
Monday – Friday
8:00 a.m. — 8:00 p.m.

To learn more about finding a financial professional, see how to find an advisor.

For non-retirement accounts, use this form; for IRA/Roth IRA, use this form and mail it to the address indicated. Once your account is established, use your account number to set up online account access, which allows you to view and manage your account(s) online.

Click and if the information is available, you will see your current beneficiary information for your IRA accounts.

Beneficiary information can be updated by mailing this form.

It's easy to get started with your Putnam account — even if you've never made electronic payments before:

• Go to your bank's website to access your bank account and your bank's bill-pay service
• To add your Putnam account, you will need your 14-digit Putnam account number
• You will also need to enter Putnam's mailing address: Putnam Investments, P.O. Box 219697, Kansas City, MO 64121-9697

For more information about your Putnam account, you may call a customer service representative at 1-800-225-1581.

View your account balance: The Daily Statements page displays share price, share balance, and current value.

Change your account options: Select "Account options" in the left-hand nav to change account options for available accounts or get forms to set up account options.

View/Print Tax Forms: Select "Tax information" in the left-hand nav. Select the desired tax form to display the form as a PDF.

View/Print Statements: Select "Confirmations and statements" in the left-hand nav. Click to view PDFs of confirmations or statements listed from the drop-down menu.

Suppress Mailings: Select "Mailing options" in the left-hand nav. Select your preferred settings and enter a valid email address. You have the option to receive account balance by email either daily, weekly, or monthly. At the bottom of the page, check off the eDelivery Terms and Conditions box and click Submit.

Account history (transcripts): Select "Account history (Transcripts)" in the left hand nav. Click to view PDFs of transcripts by year. PDFs of these documents are available from 1996 to present, if applicable.

To establish online access via the phone, please call 1-888-478-8626, Monday-Friday, 8:00 a.m. – 8:00 p.m.

To learn more about finding a financial professional, see how to find an advisor.

You may also purchase shares by mail:

• Include your account number and mail your check to:
• Regular U.S. Postal Service:
• Putnam Investments
  P.O. Box 219697
  Kansas City, MO 64121-9697
• Overnight:
• Putnam Investments
  430 W. 7th Street
  Suite 219697
  Kansas City, MO 64105-1407

To set up a systematic investment option, use this form and mail it to the appropriate address above.

1. Select the desired registration.

2. Note: If you are exchanging into a new fund, select the appropriate fund from the New Fund Investments drop-down window. The system will create that fund with the new account number.

3. Select the account to which the exchange will be and fill in the appropriate exchange amount. Click Continue.
4. The Update systematic options will display. If there are systematics (exchanges, purchase, or redemptions) on the "from" fund, you will be asked if you would like them carried over to the "to" fund. Click Continue.
5. The Update distribution options page will display. Make updates, if needed, to any new accounts. The default for dividends and capital gains is to reinvest. Click Continue.
6. The Exchange summary page will display. Review the details and click Continue.
7. The Exchange confirmation page will appear. A transaction reference number will appear at the bottom of the page.

You can sell shares by:

• Contacting your Financial Advisor
• Mailing a form:
• For non-retirement accounts, use this form
• For IRA/Roth accounts, use this form
• Call 1-800-225-1581
  Monday-Friday
  8:00 a.m. – 8:00 p.m.

• Contacting your Financial Advisor
• Mailing form:
• Non Retirement, use this form
• IRA/Roth IRA, use this form

There are two primary types of certification:

• Court certifications are provided by a court and only apply to documents that are issued by the court. Examples include letters testamentary, settlements of small estates, letters of appointment of guardianships and conservators, and divorce decrees.
• Non-court certifications vary depending on the type of non-court document being certified. A Medallion Program signature guarantee (see definition below) or an attorney certification letter may be acceptable to certify certain non-court documents. Examples include corporate resolutions, powers of attorney, and trust agreements.

A notary signature and seal/stamp are required for executing certain legal documents such as wills, trusts, powers of attorney, etc. Notaries do not provide financial indemnification in the event of fraud or forgery and therefore are not acceptable in lieu of a signature guarantee to redeem or transfer shares.

Putnam accepts signature guarantees from:

• Securities broker/dealers, commercial banks, federally chartered savings institutions, and federally chartered credit unions
• Trust companies, state chartered savings institutions, and credit unions

By guaranteeing the signature, the guarantor warrants that at the time of signing:

• The signer signed the document, and the signature was genuine.
• A signature guarantee has an unlimited dollar liability, unlike a Medallion Program signature guarantee.

Putnam accepts Medallion Program signature guarantees in place of traditional signature guarantees and certain forms of certification for non-court documents. Putnam does not accept dated medallion guarantees.

• Each Medallion Program member has a specific liability limit per transaction, which is indicated by the letter that precedes the FINS (Financial Institutions Numbering System) number on the Medallion Program guarantee (for example, in A0123456, "A" indicates that the guarantor may guarantee any transaction up to $1,000,000).

  Prefix Letter	Liability limit per transaction
  Z	$10,000,000
  Y	$5,000,000
  X	$2,000,000
  A	$1,000,000
  B	$750,000
  C	$500,000
  D	$250,000
  E	$100,000
  F	$100,000 (credit unions only)

There are two types of powers of attorney acceptable to Putnam:

• Normal power of attorney (POA) is voided if the grantor becomes incapacitated or dies.
• A "durable" power of attorney (POA) remains in effect if the grantor becomes incapacitated, but is voided if the grantor dies.

Putnam only accepts a certified POA within 90 days of the certification to ensure the document has not been revoked and that the POA maker is still alive.

Note: A "health-care power of attorney" may not be used to act on accounts in the Putnam funds.

Information specific to retirement plans offered by Putnam may be found in each plan's disclosure statement. Please consult your financial or tax advisor for more information as to which options may be available to you.

• Non-qualified plan types:

  • IRA
  • IRA rollover
  • Roth IRA
  • Roth IRA conversion
  • Salary reduction employee pension plan (SARSEP)
  • SIMPLE IRA
  • Simplified employee pension plan (SEP)
  
  

  Generally, all distributions are considered taxable income for the tax year in which they are processed and will be reported on Form 1099-R. Only after-tax contributions can be redeemed without tax liability, but IRS regulations state that distributions must be a proportionate mix of both after-tax and pretax contributions.

  A 10% federal tax withholding is required on all distributions from non-qualified retirement plans except Roth IRA plans, unless the shareholder specifies to "opt out" of withholding. Shareholders who are U.S. citizens but do not live in the United States and/or those who have not provided a tax identification number cannot opt out of tax withholding.

  Exception: U.S. citizens with a U.S. residence having a special mailing address outside the country may opt out of tax withholding if a tax ID has been provided.

  In addition, Putnam withholds state taxes on retirement distributions for residents who live in a state that requires state income tax to be withheld when federal income tax is withheld.

  For more information regarding the tax consequences of a distribution from any retirement plan, please consult your financial or tax advisor.

A financial representative can help you narrow your investment options to those that are most suited to you. Even the most experienced investors benefit from the comprehensive research, timely information, and expertise that a financial professional can provide.

Putnam recommends that you work with a financial advisor.

As always, we recommend that you consult with your financial representative to determine the appropriate investment for you.

When you sell shares in a taxable account, the cost basis accounting method you choose helps determine how your gain or loss is calculated.

For many years, Putnam has provided cost basis information as a service to shareholders, but did not report this information to the IRS. Beginning with the 2012 tax year, IRS regulations require mutual funds to:

• Report cost basis information to shareholders and the IRS on Form 1099-B
• Choose a default cost basis method if a shareholder does not elect a specific method

The new regulations apply to shares of mutual funds purchased in certain accounts on or after January 1, 2012 (covered shares), and subsequently sold or exchanged from the account. The regulations do not require mutual fund companies to report cost basis for shares purchased prior to January 1, 2012 (non-covered shares), and do not apply to shares in retirement plan accounts, education savings plan accounts, or money market funds.

Putnam has elected to use Average Cost (ACST) as its default cost basis reporting method; however, shareholders will be allowed to choose a different method or change their existing method. The other available methods are:

• First In, First Out (FIFO)
• High Cost, First Out (HIFO)
• Last In, First Out (LIFO)
• Loss/Gain Utilization (LGUT)
• Low Cost, First Out (LOFO)
• Specific Lot Identification (SLID)

For more information visit /costbasis/

Putnam funds generally do not accept investments from non-U.S. persons who do not have a residential address within the United States.

These fees are assessed each year and will show as withdrawal on your summary statement. The fee is not a taxable distribution.