Individuals under age 50 can contribute up to $6,500 per year for 2023, and up to $7,000 per year for 2024 to an IRA, assuming they have taxable compensation of at least that amount. Total contributions to all Roth and Traditional IRAs must not exceed these amounts. Individuals age 50 or over may make additional catch-up contributions of up to $1,000 for each year, assuming they have taxable compensation of at least that amount.
An individual cannot contribute more in a year than they have taxable compensation.
In addition to the general annual contribution limit that applies to both Roth and Traditional IRAs, Roth IRA contributions may be limited based on filing status and income. There are different limitations depending on whether filing status is: (a) single, head of household, or married filing separately, or (b) married filing jointly or individual filing as a qualifying widow(er).
Please consult a professional advisor for tax, legal and investment advice and refer to IRS Publications 590-A and 590-B, “Individual Retirement Arrangements (IRAs),” available online at irs.gov.
For a particular tax year, in general, contributions to IRAs must be made during such year, or by about April 15 of the following year to be able to select prior year status for federal income tax purposes. The due date may be different in some places, and for state income tax purposes. Please consult a professional advisor for tax, legal and investment advice and refer to IRS Publications 590-A and 590-B, “Individual Retirement Arrangements (IRAs),” available online at irs.gov.
Non-retirement accounts: $2,500
Retirement Accounts: $1,500
Accounts opened with an Automatic Investment Plan: $1,500, with required minimum additional investments of $50.
Minimum initial investment for Institutional share classes is $1,000,000 for the Domini Impact Equity Fund and the Domini Impact International Equity Fund and $500,000 for the Domini Impact Bond Fund. (Institutional share classes are only available for certain qualified individuals and institutions.)
Please note that each investment minimum is per fund.
For the Domini Funds and the Domini Deposit Account at PNC Bank, there is no minimum balance to maintain after your initial minimum investment amount of $2,500 is met. However, we reserve the right to close your account if your balance falls below $1,500. (This does not apply to IRA or Automatic Investment Plan accounts). If this happens to your account, you will be notified and given a chance to make additional investments to bring up your account balance.
We do not accept third party checks, cashier’s checks, money orders, starter checks, or traveler’s checks. Any check submitted for investment must be made payable to Domini Funds.
We offer a Unified Gift/Transfer to Minor (UGMA/UTMA) account that allows you to set aside money specifically for a child’s future. In addition, we also offer Coverdell Education Savings Accounts (formerly known as Education IRAs).
A UGMA or UTMA allows a donor to transfer ownership of assets to a minor and control how the assets are invested until the child reaches the age of majority. The age of majority is the age at which the child is old enough to assume control of the account, and is determined by the state in which the minor resides. The tax benefit associated with this is that your assets will be taxed at the child’s tax rate, which may be considerably lower than your own. You must check with your state to see what the tax rate is for minors. Each donor may provide gifts up to $13,000 per child per year, without being subject to federal gift taxes.
Every application requires inclusion of a tax identification number. The individual or business whose number is listed on the application is responsible for any tax liabilities generated from that account from dividends and redemptions. If one of the joint tenants dies, all income from the account goes to the surviving tenants and not to the estate of the deceased tenant.
If taxable income on your account amounted to less than $10, you did not receive a Form 1099-DIV because the IRS does not require that we send you one. However, any taxable income should be reported on your Form 1040. Please see your year-end account statement for the amount of taxable income you received.
Yes. The Domini Automatic Investment Plan is a convenient plan that allows you to pursue a dollar-cost averaging strategy. Participation in the plan involves continuous investment in a Fund regardless of fluctuating price levels of the Fund. Therefore, you should consider your financial ability to continue purchases through periods of low price levels. This is a long-term strategy, and does not guarantee a lower price per share.
Dollar-cost averaging is an investment strategy designed to avoid the pitfalls of market timing by investing equal amounts of money at regular intervals (monthly, quarterly, and so on) over a long period of time. The advantage of dollar-cost averaging is that an investor buys more shares at lower prices, and fewer shares at higher prices. As a result, you end up paying an average price per share over a period of time. The key to dollar-cost averaging is to stick with it for the long term, through periods of rising and falling markets. Of course, no strategy can guarantee a profit, or protect your investment from losses. Strictly adhering to a long-term dollar-cost averaging strategy, however, is a good way to avoid the mistake of investing all of your money when the market is high.
The Domini Automatic Investment Plan allows you to have specified amounts automatically deducted from your bank account or Domini Deposit Account at PNC Bank and invested in a Fund in monthly, quarterly, semi-annual, or annual intervals. Please follow the instructions in the Account Application to establish this service when you open your account. This service can be established for your account at any time. Learn more here.
This service may take up to six weeks to begin. Also, due to the varying procedures to prepare, process, and forward the bank withdrawal information to the Funds, there may be periodic delays between the time of the bank withdrawal and the time your money reaches the appropriate Fund.
Visit My Account to log into your account.
Call us at 1.800.582.6757 (Monday to Friday, 9 a.m. – 6 p.m. EST).
Fill out our Automatic Investment Plan (AIP) form. This form may also be used to begin an AIP or to change your banking information. Please mail the completed form to Domini Funds, P.O. Box 46707, Cincinnati, OH 45246-0707.
To change the registration on an account, you must send us a letter of instruction with a Medallion Signature Guarantee, which is signed by all current shareholders and explains the change. To change the tax identification number, you must also fill out a new account application and attach it to the letter. A Medallion Signature Guarantee is a guarantee by a financial institution that your signature is genuine and that the financial institution accepts liability for any forgery. You may obtain a Medallion Signature Guarantee at your local commercial bank or a brokerage firm that is a member of the New York Stock Exchange.
Quarterly, in January, April, July, and October. Confirmation notices are mailed out with each transaction.
There is no fee for wiring money to Domini. There is a $10 wiring fee and a $1,000 minimum for wiring money out of a Domini account.
In order to transfer money between any of the Domini Funds and the Domini Deposit Account at PNC Bank, call our Investor Services line at 1.800.582.6757 (Monday to Friday, 9 a.m. – 6 p.m. EST) to do one of the following:
- Request the transfer using a live representative;
- Request a PIN for online account access and complete your transfer online; or
- Request a PIN for our Voice Response Unit and complete your transfer with an automated telephone line.
Purchase, exchange, and sale requests must be in “good order” to be accepted by a Fund. To be in “good order” a request must include the following:
- The Fund name and your account number.
- The funds for the purchase by check or by wire or the amount of the transaction (in dollars or shares) for the exchange or sale.
- Name, address, and other information that will allow us to identify you.
- Signatures of all owners exactly as registered on the account (for redemption requests by mail).
- A Medallion Signature Guarantee, if required (see the Prospectus).
- Any supporting legal documentation that may be required.
Each Fund determines its share price (or net asset value per share (NAV)) at the close of regular trading on the New York Stock Exchange, normally 4 p.m. ET, on each day the Exchange is open for trading. This calculation is made by deducting the amount of the Fund’s liabilities (debts) from the value of its assets, and dividing the difference by the number of outstanding shares of that Fund.
To calculate the value of your investment, simply multiply the NAV by the number of shares of the Fund you own.
If your order is received by the Funds’ transfer agent by 4 pm ET in “good order,” you will receive the NAV determined at the end of that day.
For current shareholders who place Automated Clearing House (ACH) transactions online or through the automated telephone account access system, please note that your ACH transaction will be considered in “good order” on the date the payment for shares is received by the Funds. This may take up to 48 hours.
Each Fund may stop offering its shares for sale at any time and may reject any order for the purchase of its shares.
When you sell shares you will receive the next share price that is calculated after your sale request is received by the Funds in “good order.” Please note that redemption requests received after the share price has been calculated for any Fund (normally 4 p.m., ET) will be processed at the next share price that is calculated by the Fund the next business day a Fund’s share price is calculated. The appropriate Fund will normally pay for the shares on the next day the New York Stock Exchange is open for trading, but in any event within seven days.
Sales of shares made within 30 days of settlement of a purchase or acquisition through exchange will be subject to an early redemption fee, with certain exceptions (See the Prospectus for more information.) If you purchased the shares you are selling by check, a Fund may delay the payment of the redemption proceeds until the check has cleared, which may take up to eight business days from the purchase date. Each Fund may pay by check or, if you have completed the appropriate box on the Account Application, by wire transfer.
Access to the automated telephone system and online processing may be limited during periods of peak demand, market volatility, systems upgrades, maintenance, or other reasons.
Income dividends for our stock funds are normally paid semi-annually in June and December. Dividends for the Domini Impact Bond Fund are paid monthly. Capital gain distributions for all Domini Funds are normally paid in December.
Online Access Questions
We offer online account access, allowing you to make transactions and review your accounts from our website. To access your account for the first time, click on Account Access. Then select Register Now.
On June 22, 2020 Ultimus Fund Solutions, LLC became the transfer agent for the Domini Funds. All shareholders will have to register for a new online account. Click the link below the Log In button, “Sign up for Online Access” to establish your new online account.
You will then be required to choose your own user ID and password. Please be prepared to provide some basic information, including your existing account number, Social Security Number, date of birth, and mother’s maiden name.
Our website is highly secure to prevent unauthorized access to your account information.
Please contact Shareholder Services at 1.800.582.6757 (Monday to Friday, 9 a.m. – 6 p.m. EST) if you have any questions.
If you are already logged onto your account, you can change your existing password to a new password by going to “Account Maintenance” on the menu bar at the top of your screen and selecting “Change Password.”
In case you forget your password, you will be able to create a replacement password by using the “Forgot Your Password?” link on the Login page. If you have any difficulties, please call us at 1.800.582.6757 (Monday to Friday, 9 a.m. – 6 p.m. EST).
To receive documents electronically rather than by mail, you must first sign up for online access to your account. (Follow the directions under “How can I access my account online?”)
To sign up for e-delivery, click Account Access. Once you sign in, select “Account Maintenance” from the menu bar on the top of the page. Then select “E-Delivery. Follow the instructions to choose the documents you would like to receive electronically.
To make changes to your e-delivery service, sign in to your account and select “Document Delivery Settings” from the menu bar on the left of the page. Then select “e-Delivery.” Follow the instructions to choose the documents you prefer to receive by mail. If you experience any problems, please call Shareholder Services at 1.800.582.6757 (Monday to Friday, 9 a.m. – 6 p.m. EST), and a representative will be happy to help you.
Domini Impact Investment Standards Questions
All investment decisions rely on the application of standards, screens, or criteria. These guidelines define which securities will be included in a portfolio, and which will be excluded. The securities held in the Domini Funds are selected using environmental and social standards. These are standards that assess the impact of a company’s behavior and products on the environment, communities, and employees. Learn more about how we choose our investments.
Two fundamental principles underlie our investment standards: the promotion of a society that values universal human dignity and ecological sustainability. We view these twin goals as crucial to a healthier, more prosperous, and more sustainable world. Learn more
We invest in companies with a combination of controversies and praiseworthy initiatives when we feel that, on balance, progress is being made toward long-term benefits for society or the environment. We seek to exclude from our funds companies with mixed records where negatives substantially outweigh the positives. Nevertheless, there are a wide variety of companies in our funds’ portfolios with mixed records, and some may be involved in substantial controversies from time to time.
By using environmental and social standards to make investment decisions, responsible investors are stimulating demands for powerful global corporations to pay close attention to these issues and to disclose their policies and performance in these areas. An increased level of transparency is critical to establishing a higher level of corporate accountability.
You may wish to review a list of the companies in our portfolio to decide if they meet your standards. We post each Fund’s complete portfolio holdings on our website on a quarterly basis. The complete list is also available in the Funds’ Annual and Semi-Annual Reports.
In addition to applying environmental and social standards to all of our investments, we seek to work with companies in our portfolios to improve their environmental and social performance through dialogue with corporate management on these issues when appropriate. We also seek to vote all company proxies in accordance with published guidelines covering a wide range of environmental, social, and corporate governance matters. Visit our Engagement section to learn more.