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12B-1 Fees
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12B-1 fees are fees charged by mutual fund companies to mutual fund investors for various non-sales expenses of the funds. 12B-1 fees cover shareholder services, promotions, advertising, and any activity associated with the marketing and distributing of the fund's shares. 12B-1 fees are named for the Securities and Exchange Commission rule that authorizes mutual funds to charge them. The SEC does not impose a legal limit on 12B-1 fees. However, the National Association of Securities Dealers requires that 12B-1 fees used for marketing and distribution not exceed 0.75 percent of a fund's average net assets each year. 12B-1 fees can be imposed only if a mutual fund has first adopted a plan (called a 12B-1 plan) to authorize their collection.
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