Goldman Sachs Funds
Shareholder Tax Reporting Information
for the Year Ended December 31, 2015
The information in this document is designed to assist shareholders with questions they may have about year-end tax
reporting information for the Goldman Sachs Funds. It should NOT be used as a substitute for Form 1099-DIV, which
is mailed at the end of January to all shareholders required to receive it.
This material is not authorized for distribution to prospective investors unless preceded or
accompanied by a current Prospectus or summary prospectus, if applicable. Investors
should consider a Fund’s objective, risks, and charges and expenses, and read the summary
prospectus, if available, and/or the Prospectus carefully before investing or sending money.
The summary prospectus, if available, and the Prospectus contain this and other information
about a Fund and may be obtained from your authorized dealer or from Goldman, Sachs &
Co. by calling (retail—1-800-526-7384) (institutional—1-800-621-2550).
Goldman, Sachs & Co., distributor of the Goldman Sachs Funds, is not a bank, and Fund shares distributed by
Goldman, Sachs & Co. are neither deposits nor obligations of, nor endorsed, nor guaranteed by any bank or other
insured depository institution, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve
Board, or any other government agency. Investment in the Funds involves risks, including possible loss of the principal
amount invested.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation or any other government agency. Although a money market fund
seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money
by investing in the Fund.
Goldman Sachs does not provide legal, tax or accounting advice. Goldman Sachs clients
should obtain independent tax advice based on their particular situation.
Fund holdings and allocations shown are unaudited, and may not be representative of current or
future investments. Fund holdings and allocations may not include the Fund's entire investment
portfolio, which may change at any time. Fund holdings should not be relied on in making
investment decisions and should not be construed as research or investment advice regarding
particular securities. Current and future holdings are subject to risk.
There can be no assurance that a mutual fund will achieve its investment objective. Mutual funds
are subject to various risks as described fully in each funds' prospectus.
Date of First Use: January 28, 2016
Compliance Code: 30413-OTU-01/2016
Goldman Sachs Money Market Funds
Shareholder Reporting Information
For the Year Ended 12/31/15
Goldman Sachs Money Market Funds - Financial Square Tax-Exempt California Fund:
During calendar year 2015, 89.06% of the distributions paid by the Fund were "exempt-interest dividends" and as
such, are not subject to either U.S. federal income tax or California state income tax.
The following is a breakdown of the source of the exempt-interest dividends paid by the Fund during calendar year 2015:
State
Percentage
California
100.00%
Total
100.00%
Note: During calendar year 2015, none of the exempt-interest dividends paid by the Fund were derived from Private Activity Bonds ("AMT Bonds").
Goldman Sachs Money Market Funds - Financial Square Tax-Exempt New York Fund:
During calendar year 2015, 73.38% of the distributions paid by the Fund were "exempt-interest dividends" and as
such, are not subject to either U.S. federal income tax or New York state income tax.
The following is a breakdown of the source of the exempt-interest dividends paid by the Fund during calendar year 2015:
State
Percentage
New York
100.00%
Total
100.00%
Note: During calendar year 2015, none of the exempt-interest dividends paid by the Fund were derived from Private Activity Bonds ("AMT Bonds").
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Goldman Sachs Money Market Funds
Shareholder Reporting Information
For the Year Ended 12/31/15
Goldman Sachs Money Market Funds - Financial Square Tax-Free Money Market Fund:
During calendar year 2015, 68.67% of the distributions paid by the Fund were "exempt-interest dividends" and as
such, are not subject to U.S. federal income tax.
The following is a breakdown of the source of the exempt-interest dividends paid by the Fund during calendar year 2015:
State
State
Alabama
Percentage
3.10%
Alaska
0.31%
Arizona
0.78%
Arkansas
0.00%
California
18.51%
Colorado
2.27%
Connecticut
2.71%
Delaware
0.41%
District of Columbia
1.34%
Florida
1.76%
Georgia
1.56%
Hawaii
0.19%
Idaho
0.00%
Illinois
2.68%
Indiana
0.85%
Iowa
0.00%
Kansas
2.48%
Kentucky
0.06%
Louisiana
1.43%
Maine
0.09%
Maryland
1.53%
Massachusetts
5.48%
Michigan
0.45%
Minnesota
0.88%
Mississippi
0.81%
Missouri
0.47%
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Puerto Rico
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Total:
Percentage
0.00%
0.27%
1.10%
0.26%
1.49%
0.78%
17.42%
1.21%
1.23%
2.18%
0.15%
0.64%
2.59%
0.00%
0.00%
1.57%
0.00%
1.17%
8.70%
1.06%
0.00%
1.74%
4.91%
0.00%
1.17%
0.21%
100.00%
Note: During calendar year 2015, none of the exempt-interest dividends paid by the Fund were derived from Private Activity Bonds ("AMT Bonds").
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Goldman Sachs Money Market Funds
Shareholder Reporting Information
For the Year Ended 12/31/15
Federal Obligations
U.S.
Treasury
Small
Business
Admin
(SBA)
FS Prime Obligations Fund
1.56%
0.00%
0.00%
FS Government Fund
2.64%
0.00%
FS Treasury Obligations Fund
53.37%
FS Treasury Solutions Fund
Goldman Sachs Money Market Funds
SM
Financial Square Funds
FS Treasury Instruments Fund
FS Money Market Fund
FS Federal Instruments Fund
Federal
Federal
Farm Credit
Home Loan
Bank
Bank (FHLB)
(FFCB)
Tennessee
Valley
Authority
(TVA)
Repurchase
Agreements
(Repos)
FNMA,
GNMA,
FHLMC
Other *
TOTAL
5.64%
0.00%
29.99%
0.16%
62.65%
100.00%
8.53%
33.10%
0.00%
48.01%
7.33%
0.39%
100.00%
0.00%
0.00%
0.00%
0.00%
45.09%
0.00%
1.54%
100.00%
34.13%
0.00%
14.33%
31.33%
0.00%
12.04%
0.00%
8.17%
100.00%
100.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
100.00%
0.36%
0.00%
0.00%
2.67%
0.00%
22.88%
0.00%
74.09%
100.00%
39.95%
0.00%
13.89%
44.17%
0.00%
0.00%
0.00%
1.99%
100.00%
* Includes the distribution of net short-term capital gains (if any), and interest income generated by non-Federal obligations not separately listed above.
Notes: The above table provides information with respect to the "pass-through" of the tax-exempt nature of dividend distributions derived from federal obligations for state income tax
purposes. However, state and local taxes differ from state to state and it is strongly recommended that shareholders consult their own tax adviser with respect to the entitlement of a
"pass-through" of dividends derived from federal obligations.
Please note that shareholders of the funds listed to the right that are
residents of California, Connecticut, or New York will not be entitled
to the pass-through of interest derived from federal obligations for state
income tax purposes.
FS Prime Obligations Fund
FS Government Fund
FS Treasury Obligations Fund
FS Money Market Fund
Goldman Sachs Financial Square FundsSM is a registered service mark of Goldman, Sachs & Co.
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