New Cost Basis Reporting

A new tax requirement went into effect on January 1, 2012 which requires mutual funds to track and report cost basis to shareholders. As a result of this new law, we sent letters to our direct shareholders in October requesting them to select a cost basis method for any taxable (non-retirement) account they have with Weitz Funds. The new requirement only applies to shares purchased after December 31, 2011.
Below is a link to a cost basis website which provides general information about these new requirements and information about the Cost Basis Election Form that was mailed to our direct shareholders.
If you have further questions, please contact Client Services at 800-304-9745 (representatives are available Monday through Friday, 8:00 a.m. - 4:30 p.m. Central Time).