1. Why did I receive this check?

You are receiving a distribution payment because you are or were an Administrative Class shareholder in one of the affected Funds during the Distribution Period. This distribution is the result of over-accruals of payables during the Distribution Period, which means that the Funds reserved for payment more than they owed. This distribution payment includes appreciation and interest and is being made by check and sent to your last-known address. You have been identified as an affected shareholder, and we have received your information from Allianz Global Investors US Holdings LLC (“AllianzGI US”), or a broker-dealer or other third party, including sufficient information to make the payment directly to you. AllianzGI US has selected SS&C GIDS, Inc. to serve as the distribution administrator for the distribution payments.

Please note that this check is payment in full of your portion of the distribution payment, including appreciation and interest.

2. What is this distribution about?

Eligible Shareholders have been determined to be entitled to remediation as a result of over-accruals of payables on Administrative Class shares of two series of Allianz Funds. The two funds with impacted Administrative Class shares are AllianzGI NFJ Dividend Value Fund and AllianzGI NFJ Small-Cap Value Fund (the “Funds”). The distributions have been calculated for the period from July 2012 through January 2021 (the “Distribution Period”). The Funds were adopted into the Virtus Funds family on February 1, 2021, at which time the over-accruals ceased and Allianz Funds changed its name to Virtus Investment Trust.

3. What is my distribution amount based on?

There are three components to the distribution to you: (i) an amount for over-accruals of payables during the Distribution Period (the “Distribution Component”), (ii) an amount for appreciation with respect to the Distribution (the “Appreciation Component”), and (iii) interest (the “Interest Component”).

4. What happens if I do not cash the distribution check?

Your original check will be marked VOID after ninety (90) days from the check date. All reissued checks will be marked VOID thirty (30) days from the check date. Monies that are not cashed or otherwise negotiated may be forfeited at the completion of the distribution.

5. What are the tax ramifications of this distribution?
Will I receive a Form 1099 to use when filing my taxes for 2025?

We do not intend to issue IRS Forms 1099 to you with respect to the Distribution Component or Appreciation Component. We intend to issue an IRS Form 1099-INT to you if the Interest Component you receive exceeds $600, which will be issued at the beginning of 2026.

You should consult with your financial advisor or tax professional to determine the appropriate tax treatment for your situation.

6. I have an IRA/retirement account. What are the tax consequences for me?

You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your situation.

7. How do I cash this check if I held my Fund shares in an IRA/retirement account?

You will not be able to cash this check as it is currently written because it is made payable to your custodian for your benefit.

If your retirement account is still with the custodian listed on the check, forward this check with a letter of instruction to your current custodian, and the money will be deposited into your retirement account. Be sure to include your current account number with the correspondence.

You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your situation.

8. I received a check made payable to my custodian. What do I do with this check?

A custodian is an agent, bank, trust company or other organization that holds and safeguards an individual’s, mutual fund’s, or investment company’s assets for them.

If your retirement account is still with the custodian listed on the check, forward this check with a letter of instruction to your current custodian, instructing them to deposit the proceeds into your retirement account. Be sure to include your current custodian account number with the correspondence and check your custodian statements to ensure that the payment has been credited to your account.

9. What if my custodian has changed?

If your retirement account is with a different custodian, return the check with the word VOID written across the front and include a letter of instruction indicating your new custodian. Send this information via e-mail, fax or regular mail to:

We will issue and mail a new check to you so you can forward it to your current custodian. Remember to include a letter of instruction to your current custodian, including your custodian account number, explaining that you want the check deposited into your IRA account.

Please allow 10-14 days from the date we receive your original request to receive the replacement check.

10. I am over 70½ (or the applicable Required Minimum Distribution age based on my date of birth) and received this payment because of my IRA. Is this counted as part of my Required Minimum Distribution?

You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your situation.

11. What if I don't receive a check but I believe I should?
What do I need to do if I disagree with the amount of the distribution check I received?

If you believe you should receive a check and did not, or you do not agree with the amount you did receive, you will need to send us a letter along with any supporting documentation to one of the following:

Disputes relating to the payments will be considered and resolved in consultation with AllianzGI US.

12. My investment was in a tax-qualified plan, what should I do with this check?

If the check was made payable to the plan administrator and mailed to you and you are:

1. Still a participant in the tax qualified retirement plan, contact your retirement plan administrator to coordinate the deposit of the check to your retirement plan.
2. no longer a participant in the tax-qualified plan but you are a Participant in another tax-qualified retirement plan, then you may effect a “direct rollover” to another eligible plan. The distribution must be rolled over within 60 days after receipt to be tax-free. Contact your plan trustee or administrator to coordinate the rollover;
3. no longer a participant in the tax-qualified plan and you no longer are a participant in another tax-qualified retirement plan and you wish to have this check made payable to yourself, you will need to contact the Retirement Plan Trustee or Service Provider to negotiate the check you received. We are unable to reissue this check to you as it is considered Plan assets; or
4. A member of a plan that is no longer active or has been abandoned, we will require the following documentation to comply with your request:
   • The original distribution check marked VOID (if not previously submitted).
   • A copy of the final plan Form 5500 from your former Tax-Qualified Retirement Plan (may/might be found on www.freeerisa.com).
   • A signed Abandoned Plan Affidavit, which can be found on the Tax Information page of this website or can be mailed to you.
   • A completed Reissue Non-IRA Distribution Form (Substitute IRS W-4P & W9), or Reissue Beneficiary Non-IRA Distribution Form (Substitute IRS W-4P & W9) if the plan participant is now deceased, which can be found on the Tax Information page of this website or can be mailed to you.

As always, you should consult with your financial advisor or tax professional prior to cashing any check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

13. What controls are in place to ensure that all shareholders receive the amount of the distribution to which they are entitled?

A quality control review and reconciliation was conducted prior to the mailing of the checks. The amount you receive is based on the size and timing of your investment. The amounts were calculated by SS&C GIDS, Inc. (the distribution administrator for the distribution payments) based on a methodology approved by AllianzGI US and then tested and validated by an independent analysis firm.