.
|
American
Funds® Prospectus |
 |
| Class | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-T | 529-F-1 | 529-F-2 |
| Class | 529-F-3 | ABLE-A | ABLE-F-2 | R-1 | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 | |
Table of contents
| The U.S. Securities and Exchange Commission has not approved or disapproved of these securities. Further, it has not determined that this prospectus is accurate or complete. Any representation to the contrary is a criminal offense. |
| Share class: | A | 529-A and ABLE-A | C
and 529-C |
529-E | T
and 529-T |
All
F, 529-F and ABLE-F-2 share classes |
All
R share classes |
| Maximum sales charge (load) imposed on purchases (as a percentage of offering price) | |||||||
| Maximum deferred sales charge (load) (as a percentage of the amount redeemed) | |||||||
| Maximum sales charge (load) imposed on reinvested dividends | |||||||
| Redemption or exchange fees | |||||||
1 American Funds U.S. Government Money Market Fund / Prospectus
| Share class: | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C |
| Management fees | ||||||||
| Distribution and/or service (12b-1) fees | ||||||||
| Other expenses | ||||||||
| Total annual fund operating expenses | ||||||||
| Share class: | 529-E | 529-T | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-A | ABLE-F-2 | R-1 |
| Management fees | ||||||||
| Distribution and/or service (12b-1) fees | ||||||||
| Other expenses | ||||||||
| Total annual fund operating expenses | ||||||||
| Fee waiver | — | — | — | — | — | — | ||
| Total annual fund operating expenses after expense reimbursement |
| Share class: | R-2 | R-2E | R-3 | R-4 | R-5E | R-5 | R-6 | |
| Management fees | ||||||||
| Distribution and/or service (12b-1) fees | ||||||||
| Other expenses | ||||||||
| Total annual fund operating expenses |
*
American Funds U.S. Government Money Market Fund / Prospectus 2
The example assumes that you
invest $10,000 in the fund for the time periods indicated and then redeem all of
your shares at the end of those periods. The example also assumes that your
investment has a 5% return each year and that the fund’s operating expenses
remain the same. The example reflects the fee waiver described above through the
expiration date of such fee waiver and total annual fund operating expenses
thereafter. You may be required to pay brokerage commissions on your purchases
and sales of Class F-2, F-3, 529-F-2, 529-F-3 or ABLE-F-2 shares of the fund,
which are not reflected in the example.
| Share class: | A | C | T | F-1 | F-2 | F-3 | 529-A | 529-C | 529-E | 529-T |
| 1 year | $ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
| 3 years | ||||||||||
| 5 years | ||||||||||
| 10 years |
| Share class: | 529-F-1 | 529-F-2 | 529-F-3 | ABLE-A | ABLE-F-2 | R-1 | R-2 | R-2E | R-3 | R-4 |
| 1 year | $ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
| 3 years | ||||||||||
| 5 years | ||||||||||
| 10 years |
| Share class: | R-5E | R-5 | R-6 | Share class: | C | 529-C | |
| 1 year | $ |
$ |
$ |
1 year | $ |
$ | |
| 3 years | 3 years | ||||||
| 5 years | 5 years | ||||||
| 10 years | 10 years |
3 American Funds U.S. Government Money Market Fund / Prospectus
Repurchase agreements are agreements under which the fund purchases a security from a bank or broker-dealer and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased by the fund constitutes collateral for the seller’s repurchase obligation, a repurchase agreement is effectively a loan by the fund that is collateralized by the security purchased. The fund will only enter into repurchase agreements involving securities of the type (excluding any maturity limitations) in which it could otherwise invest. In practice, the fund expects to enter only into repurchase agreements that are fully collateralized by cash or U.S. government securities.
The fund relies on the professional judgment of its investment adviser to make decisions about the fund’s portfolio investments. The basic investment philosophy of the investment adviser is to seek to provide current income while preserving capital and maintaining liquidity.
Market conditions — The prices of, and the income generated by, the securities held by the fund may decline – sometimes rapidly or unpredictably – due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.
Investing
in securities backed by the U.S. government — Securities backed by the U.S.
Treasury or the full faith and credit of the U.S. government are guaranteed only
as to the timely payment of interest and principal when held to maturity.
American Funds U.S. Government Money Market Fund / Prospectus 4
government. U.S. government securities are subject to market risk, interest rate risk and credit risk.
Interest rate risk — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund’s shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low or negative short-term interest rates, the fund may not be able to maintain a positive yield or total return or be able to preserve the value of your investment at $1.00 per share. Given the current low interest rate environment, risks associated with rising rates are currently heightened.
Investing in repurchase agreements — Upon entering into a repurchase agreement, the fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund’s cost with interest. The security purchased by the fund constitutes collateral for the seller’s repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also incur disposition costs and encounter procedural delays in connection with liquidating the collateral.
Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results.
5 American Funds U.S. Government Money Market Fund / Prospectus
American Funds U.S. Government Money Market Fund / Prospectus 6
| Share classes (before taxes) | Inception date | 1 year | 5 years | 10 years | Lifetime |
| A | |||||
| C | – |
||||
| F-1 | |||||
| F-2 | |||||
| F-3 | N/A | N/A | |||
| 529-A | |||||
| 529-C | – |
||||
| 529-E | |||||
| 529-F-1 | |||||
| 529-F-2 | N/A | N/A | |||
| 529-F-3 | N/A | N/A | |||
| ABLE-A | N/A | N/A | |||
| ABLE-F-2 | N/A | N/A | |||
| R-1 | |||||
| R-2 | |||||
| R-2E | N/A | ||||
| R-3 | |||||
| R-4 | |||||
| R-5E | N/A | ||||
| R-5 | |||||
| R-6 | |||||
| Indexes | 1 year | 5 years | 10 years | Lifetime (from Class F-2 inception) |
| USTREAS T-Bill Auction Ave 3 Mon (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | ||||
| Lipper U.S. Government Money Market Funds Average (reflects no deductions for sales charges, account fees or U.S. federal income taxes) | ||||
| For
current 7-day yield information, please call American Funds Service
Company at | ||||
7 American Funds U.S. Government Money Market Fund / Prospectus
Investment adviser Capital Research and Management Company
Purchase and sale of fund shares The minimum amount to establish an account for all share classes is normally $1,000 and the minimum to add to an account is $50. For a payroll deduction retirement plan account, payroll deduction savings plan account or employer-sponsored 529 account, the minimum is $25 to establish or add to an account. For accounts with Class F-3 shares held and serviced by the fund’s transfer agent, the minimum investment amount is $1 million.
If you are a retail investor, you may sell (redeem) shares on any business day through your dealer or financial professional or by writing to American Funds Service Company® at P.O. Box 6007, Indianapolis, Indiana 46206-6007; telephoning American Funds Service Company at (800) 421-4225; faxing American Funds Service Company at (888) 421-4351; or accessing our website at capitalgroup.com. Please contact your plan administrator or recordkeeper to sell (redeem) shares from your retirement plan.
Tax information Dividends you receive from the fund are subject to federal income taxes and may also be subject to state and local taxes, unless you are tax-exempt or your account is tax-favored. Generally, redemptions, including exchanges, will not result in a capital gain or loss for federal or state income tax purposes.
Payments to broker-dealers and other financial intermediaries If you purchase shares of the fund through a broker-dealer or other financial intermediary (such as a bank), the fund and the fund’s distributor or its affiliates may pay the intermediary for the sale of fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the fund over another investment. Ask your individual financial professional or visit your financial intermediary’s website for more information.
American Funds U.S. Government Money Market Fund / Prospectus 8
Investment objective, strategies and risks The investment objective of the fund is to provide you with a way to earn income on your cash reserves while preserving capital and maintaining liquidity. While it has no present intention to do so, the fund’s board may change the fund’s objective without shareholder approval upon 60 days’ written notice to shareholders. The fund is a government money market fund that seeks to preserve the value of your investment at $1.00 per share.
The fund will invest at least 99.5% of its total assets in cash, U.S. Treasury securities and other government securities guaranteed or issued by an agency or instrumentality of the U.S. government, and repurchase agreements that are fully collateralized by cash or government securities. Additionally, at least 80% of the fund’s assets will normally be invested in securities that are issued or guaranteed by the U.S. government, its agencies and instrumentalities, and repurchase agreements that are fully collateralized by government securities.
Repurchase agreements are agreements under which the fund purchases a security from a bank or broker-dealer and obtains a simultaneous commitment from the seller to repurchase the security at a specified time and price. Because the security purchased by the fund constitutes collateral for the seller’s repurchase obligation, a repurchase agreement is effectively a loan by the fund that is collateralized by the security purchased. The fund will only enter into repurchase agreements involving securities of the type (excluding any maturity limitations) in which it could otherwise invest. In practice, the fund expects to enter only into repurchase agreements that are fully collateralized by cash or U.S. government securities.
In accordance with applicable rules and regulations relating to money market funds, the fund will maintain a dollar-weighted average maturity of 60 days or less and its dollar-weighted average life will not exceed 120 days. Additionally, the fund will hold at least 10% of its total assets in daily liquid assets and at least 30% of its total assets in weekly liquid assets. For purposes of these limits, daily liquid assets and weekly liquid assets are generally defined to include cash, U.S. Treasuries, certain other government securities, as well as other securities that can be readily converted to cash within one or five business days, respectively.
The fund relies on the professional judgment of its investment adviser to make decisions about the fund’s portfolio investments. The basic investment philosophy of the investment adviser is to seek to provide current income while preserving capital and maintaining liquidity. The investment adviser believes that an important way to accomplish this is by analyzing various factors, including the credit strength of the issuer, prices of similar securities issued by comparable issuers, current and anticipated changes in interest rates, general market conditions and other factors pertinent to the particular security being evaluated.
The investment adviser may consider environmental, social and governance (“ESG”) factors that, depending on the facts and circumstances, are material to the value of an issuer or instrument. ESG factors may include, but are not limited to, environmental issues (e.g., water use, emission levels, waste, environmental remediation), social issues (e.g., human capital, health and safety, changing customer behavior) or governance issues (e.g., board composition, executive compensation, shareholder dilution).
The following are principal risks associated with investing in the fund.
9 American Funds U.S. Government Money Market Fund / Prospectus
Market conditions — The prices of, and the income generated by, the securities held by the fund may decline – sometimes rapidly or unpredictably – due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.
Investing in securities backed by the U.S. government — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by U.S. government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government. U.S. government securities are subject to market risk, interest rate risk and credit risk.
Interest rate risk — The values and liquidity of the securities held by the fund may be affected by changing interest rates. For example, the values of these securities may decline when interest rates rise and increase when interest rates fall. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities. The fund may invest in variable and floating rate securities. When the fund holds variable or floating rate securities, a decrease in market interest rates will adversely affect the income received from such securities and the net asset value of the fund’s shares. Although the values of such securities are generally less sensitive to interest rate changes than those of other debt securities, the value of variable and floating rate securities may decline if their interest rates do not rise as quickly, or as much, as market interest rates. Conversely, floating rate securities will not generally increase in value if interest rates decline. During periods of extremely low or negative short-term interest rates, the fund may not be able to maintain a positive yield or total return or be able to preserve the value of your investment at $1.00 per share. Given the current low interest rate environment, risks associated with rising rates are currently heightened.
Investing in repurchase agreements — Upon entering into a repurchase agreement, the fund purchases a security from a bank or broker-dealer, which simultaneously commits to repurchase the security within a specified time at the fund’s cost with interest. The security purchased by the fund constitutes collateral for the seller’s repurchase obligation. If the party agreeing to repurchase should default, the fund may seek to sell the security it holds as collateral. The fund may incur a loss if the value of the collateral securing the repurchase obligation falls below the repurchase price. The fund may also
American Funds U.S. Government Money Market Fund / Prospectus 10
incur disposition costs and encounter procedural delays in connection with liquidating the collateral.
Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results.
The following are additional risks associated with investing in the fund.
Exposure to country, region, industry or sector — Subject to the fund’s investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.
Cybersecurity breaches — The fund may be subject to operational and information security risks through breaches in cybersecurity. Cybersecurity breaches can result from deliberate attacks or unintentional events, including “ransomware” attacks, the injection of computer viruses or malicious software code, the use of vulnerabilities in code to gain unauthorized access to digital information systems, networks or devices, or external attacks such as denial-of-service attacks on the investment adviser’s or an affiliate’s website that could render the fund’s network services unavailable to intended end-users. These breaches may, among other things, lead to the unauthorized release of confidential information, misuse of the fund’s assets or sensitive information, the disruption of the fund’s operational capacity, the inability of fund shareholders to transact business, or the destruction of the fund’s physical infrastructure, equipment or operating systems. These events could cause the fund to violate applicable privacy and other laws and could subject the fund to reputational damage, additional costs associated with corrective measures and/or financial loss. The fund may also be subject to additional risks if its third-party service providers, such as the fund’s investment adviser, transfer agent, custodian, administrators and other financial intermediaries, experience similar cybersecurity breaches and potential outcomes. Cybersecurity risks may also impact issuers of securities in which the fund invests, which may cause the fund’s investments in such issuers to lose value.
In addition to the principal investment strategies described above, the fund has other investment practices that are described in the statement of additional information, which includes a description of other risks related to the fund’s principal investment strategies and other investment practices. The fund’s investment results will depend on the ability of the fund’s investment adviser to navigate the risks discussed above as well as those described in the statement of additional information.
Fund comparative indexes The investment results table in this prospectus shows how the fund’s average annual total returns compare with various broad measures of market results. USTREAS T-Bill Auction Ave 3 Mon is an index that measures the performance of the average investment rate of U.S. Treasury bills (T-Bills) with a three-month maturity. Three-month T-Bills are short-term securities issued by the U.S. government that are generally considered to be risk-free. In calculating index results, Morningstar, the index
11 American Funds U.S. Government Money Market Fund / Prospectus
provider, determines the arithmetic mean of the investment rates on all three-month T-Bills issued during a given month as reported by the U.S. Treasury’s Bureau of the Public Debt. The investment rate is then converted into a price and a monthly return, assuming that the T-Bill is held to maturity. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes. The Lipper U.S. Government Money Market Funds Average is composed of funds that invest principally in financial instruments issued or guaranteed by the U.S. government, its agencies, or its instrumentalities, with dollar-weighted average maturities of less than 90 days. These funds seek to maintain a constant net asset value. The results of the underlying funds in the average include reinvestment of dividends and capital gain distributions, as well as brokerage commissions paid by the funds for portfolio transactions and other fund expenses, but do not reflect the effect of sales charges, account fees or U.S. federal income taxes.
Fund results All fund results in this prospectus reflect the reinvestment of dividends and capital gain distributions, if any. Unless otherwise noted, fund results reflect any fee waivers and/or expense reimbursements in effect during the periods presented.
Portfolio holdings Portfolio holdings information for the fund is available on our website at capitalgroup.com. A description of the fund’s policies and procedures regarding disclosure of information about its portfolio holdings is available in the statement of additional information.
American Funds U.S. Government Money Market Fund / Prospectus 12
Investment adviser Capital Research and Management Company, an experienced investment management organization founded in 1931, serves as the investment adviser to the fund and other funds, including the American Funds. Capital Research and Management Company is a wholly owned subsidiary of The Capital Group Companies, Inc. and is located at 333 South Hope Street, Los Angeles, California 90071. Capital Research and Management Company manages the investment portfolio and business affairs of the fund. The total management fee paid by the fund to its investment adviser for the most recent fiscal year, as a percentage of average net assets, appears in the Annual Fund Operating Expenses table under “Fees and expenses of the fund.” A more detailed description of the Investment Advisory and Service Agreement between the fund and the investment adviser is included in the fund’s statement of additional information, and a discussion regarding the basis for approval by the fund’s board of trustees is contained in the fund’s semi-annual report to shareholders for the period ended March 31, 2022.
Capital Research and Management Company manages equity assets through three equity investment divisions and fixed income assets through its fixed income investment division, Capital Fixed Income Investors. The three equity investment divisions — Capital International Investors, Capital Research Global Investors and Capital World Investors — make investment decisions independently of one another.
The equity investment divisions may, in the future, be incorporated as wholly owned subsidiaries of Capital Research and Management Company. In that event, Capital Research and Management Company would continue to be the investment adviser, and day-to-day investment management of equity assets would continue to be carried out through one or more of these subsidiaries. Although not currently contemplated, Capital Research and Management Company could incorporate its fixed income investment division in the future and engage it to provide day-to-day investment management of fixed income assets. Capital Research and Management Company and each of the funds it advises have received an exemptive order from the U.S. Securities and Exchange Commission that allows Capital Research and Management Company to use, upon approval of the fund’s board, its management subsidiaries and affiliates to provide day-to-day investment management services to the fund, including making changes to the management subsidiaries and affiliates providing such services. The fund’s shareholders have approved this arrangement; however, there is no assurance that Capital Research and Management Company will incorporate its investment divisions or exercise any authority granted to it under the exemptive order.
13 American Funds U.S. Government Money Market Fund / Prospectus
Certain privileges and/or services described on the following pages of this prospectus and in the statement of additional information may not be available to you, depending on your investment dealer or retirement plan recordkeeper. Please see your financial professional or retirement plan recordkeeper for more information.
Shareholder services American Funds Service Company, the fund’s transfer agent, offers a wide range of services that you can use to alter your investment program should your needs or circumstances change. These services may be terminated or modified at any time upon 60 days’ written notice.
A more detailed description of policies and services is included in the fund’s statement of additional information and the owner’s guide sent to new American Funds shareholders entitled Welcome. Class 529 and Class ABLE shareholders should also refer to the applicable program description for information on policies and services relating specifically to their account(s). These documents are available by writing to or calling American Funds Service Company.
American Funds U.S. Government Money Market Fund / Prospectus 14
Unless otherwise noted or unless the context requires otherwise, references on the following pages to (i) Class A shares also refer to Class 529-A and Class ABLE-A shares, (ii) Class C, T or F shares also refer to the corresponding Class 529-C, 529-T, 529-F or ABLE-F shares, as applicable, (iii) Class F shares refer to Class F-1, F-2 and F-3 shares and (iv) Class R shares refer to Class R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6 shares.
Purchase, exchange and sale of shares The fund’s transfer agent, on behalf of the fund and American Funds Distributors,® the fund’s distributor, is required by law to obtain certain personal information from you or any other person(s) acting on your behalf in order to verify your or such person’s identity. If you do not provide the information, the transfer agent may not be able to open your account. If the transfer agent is unable to verify your identity or that of any other person(s) authorized to act on your behalf, or believes it has identified potentially criminal activity, the fund and American Funds Distributors reserve the right to close your account or take such other action they deem reasonable or required by law.
When purchasing shares, you should designate the fund or funds in which you wish to invest. Subject to the exception below, if no fund is designated, your money will be held uninvested (without liability to the transfer agent for loss of income or appreciation pending receipt of proper instructions) until investment instructions are received, but for no more than three business days. Your investment will be made at the net asset value (plus any applicable sales charge, in the case of Class A or Class T shares) next determined after investment instructions are received and accepted by the transfer agent. If investment instructions are not received, your money will be invested in Class A shares (or, if you are investing through a financial intermediary who offers only Class T shares, in Class T shares) of American Funds U.S. Government Money Market Fund on the third business day after receipt of your investment.
If the amount of your cash investment is $10,000 or less, no fund is designated, and you made a cash investment (excluding exchanges) within the last 16 months, your money will be invested in the same proportion and in the same fund or funds and in the same class of shares in which your last cash investment was made. If you only have one open fund, the money will be invested into such fund on the day received if the investment is otherwise in good order.
Different procedures may apply to certain employer-sponsored arrangements, including, but not limited to, SEPs and SIMPLE IRAs.
Valuing shares The net asset value of each share class of the fund is the value of a single share of that class. The fund seeks to preserve the net asset value of each share class at $1.00. The net asset value per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open. If the New York Stock Exchange makes a scheduled (e.g. the day after Thanksgiving) or an unscheduled close prior to 4 p.m. New York time, the net asset value of the fund will be determined at approximately the time the New York Stock Exchange closes on that day. If on such a day market quotations and prices from third-party pricing services are not based as of the time of the early close of the New York Stock Exchange but are as of a later time (up to approximately 4 p.m. New York time), for example because the market remains open after the close of the New York Stock Exchange, those later market quotations and prices will be used in determining the fund’s net asset value. The fund may also calculate its share price on
15 American Funds U.S. Government Money Market Fund / Prospectus
days the New York Stock Exchange is closed, consistent with applicable regulatory guidance.
Assets are valued primarily on the basis of evaluated prices from third-party pricing services. However, the fund’s portfolio investments are valued in accordance with procedures for making fair value determinations if evaluated prices are not readily available or are not considered reliable.
The valuation of the fund’s portfolio securities and calculation of its net asset value are based upon the penny-rounding method of pricing pursuant to U.S. Securities and Exchange Commission regulations, which permit current net asset value per share to be rounded to the nearest cent, provided the fund follows certain maturity, credit quality and other guidelines. The fund follows standard industry practice by typically reflecting changes in its holdings of portfolio securities on the first business day following a portfolio trade.
Your shares will be purchased at the net asset value (plus any applicable sales charge, in the case of Class A or Class T shares) or sold at the net asset value next determined after American Funds Service Company receives your request, provided that your request contains all information and legal documentation necessary to process the transaction. Orders in good order received after the New York Stock Exchange closes (scheduled or unscheduled) will be processed at the net asset value (plus any applicable sales charge) calculated on the following business day. A contingent deferred sales charge may apply at the time you sell certain Class C shares.
American Funds U.S. Government Money Market Fund / Prospectus 16
Purchase of Class A shares You may generally open an account and purchase Class A shares by contacting any financial professional (who may impose transaction charges in addition to those described in this prospectus) authorized to sell the fund’s shares. You may purchase additional shares in various ways, including through your financial professional and by mail, telephone, the Internet and bank wire.
Class C shares Class C shares of the fund may be acquired only by exchanging from Class C shares of other American Funds. Direct purchases of Class C shares of the fund are not permitted.
Automatic conversion of Class C and Class 529-C shares Class C shares automatically convert to Class A shares in the month of the 8-year anniversary of the purchase date. Class 529-C shares automatically convert to Class 529-A shares, in the month of the 5-year anniversary of the purchase date. The Internal Revenue Service currently takes the position that such automatic conversions are not taxable. Should its position change, the automatic conversion feature may be suspended. If this were to happen, you would have the option of converting your Class C shares to Class A shares or your Class 529-C shares to Class 529-A shares at the anniversary date described above. This exchange would be based on the relative net asset values of the two classes in question, without the imposition of a sales charge or fee, but you might face certain tax consequences as a result.
Purchase of Class F shares You may generally open an account and purchase Class F shares only through fee-based programs of investment dealers that have special agreements with the fund’s distributor, through financial intermediaries that have been approved by, and that have special agreements with, the fund’s distributor to offer Class F shares to self-directed investment brokerage accounts that may charge a transaction fee, through certain registered investment advisors and through other intermediaries approved by the fund’s distributor. These intermediaries typically charge ongoing fees for services they provide. Intermediary fees are not paid by the fund and normally range from .75% to 1.50% of assets annually, depending on the services offered.
Class F-2, F-3, 529-F-2, 529-F-3 and ABLE-F-2 shares may also be available on brokerage platforms of firms that have agreements with the fund’s distributor to offer such shares solely when acting as an agent for the investor. An investor transacting in Class F-2, F-3, 529-F-2, 529-F-3 or ABLE-F-2 shares in these programs may be required to pay a commission and/or other forms of compensation to the broker. Shares of the fund are available in other share classes that have different fees and expenses.
In addition, upon approval by an officer of the fund’s investment adviser, Class F-3 shares (but not Class 529-F-3 shares) are available to institutional investors, which include, but are not limited to, charitable organizations, governmental institutions and corporations. For accounts held and serviced by the fund’s transfer agent the minimum investment amount is $1 million.
Purchase of Class 529 shares Class 529 shares may be purchased only through an account established with a 529 college savings plan managed by Capital Research and Management Company. You may open this type of account and purchase Class 529 shares by contacting any financial professional (who may impose transaction charges in addition to those described in this prospectus) authorized to sell such an account. You
17 American Funds U.S. Government Money Market Fund / Prospectus
may purchase additional shares in various ways, including through your financial professional and by mail, telephone, the Internet and bank wire.
Class 529-E shares may be purchased only by employees participating through an eligible employer plan.
Accounts holding Class 529 shares are subject to a $10 account setup fee and an annual $10 account maintenance fee. These fees are waived until further notice.
Investors residing in any state may purchase Class 529 shares through an account established with a 529 college savings plan managed by Capital Research and Management Company. Class 529-A, 529-C, 529-T and 529-F shares are structured similarly to the corresponding Class A, C, T and F shares.
Purchase of Class ABLE shares Class ABLE shares may be purchased only through an account established with a 529A ABLE savings plan managed by Capital Research and Management Company. You may open this type of account and purchase Class ABLE-A or Class ABLE-F-2 shares by contacting any financial professional (who may impose transaction charges in addition to those described in this prospectus) authorized to sell such an account. You may purchase additional shares in various ways, including through your financial professional and by mail, telephone, the Internet and bank wire.
Accounts holding Class ABLE-A shares or Class ABLE-F-2 shares are subject to a $10 account setup fee and an annual $10 account maintenance fee. These fees are waived until further notice.
Investors residing in any state may purchase Class ABLE-A or Class ABLE-F-2 shares through an account established with a 529A ABLE savings plan managed by Capital Research and Management Company. Class ABLE-A shares are structured similarly to the corresponding Class A and Class 529-A shares. Class ABLE-F-2 shares are structured similarly to the corresponding Class F-2 and Class 529-F-2 shares.
Purchase of Class R shares Class R shares are generally available only to retirement plans established under Internal Revenue Code Sections 401(a), 403(b) or 457, and to nonqualified deferred compensation plans and certain voluntary employee benefit association and post-retirement benefit plans. Class R shares also are generally available only to retirement plans for which plan level or omnibus accounts are held on the books of the fund’s adviser. Class R-5E, R-5 and R-6 shares are generally available only to fee-based programs or through retirement plan intermediaries. Class R-3 and Class R-5E shares are available through the American Funds SIMPLE IRA Plus Program and other similar programs. In addition, Class R-5 and R-6 shares are available for investment by other registered investment companies and collective investment trusts approved by the fund’s investment adviser or distributor. Except as otherwise provided in this prospectus, Class R shares are generally not available for purchase to retail nonretirement accounts; traditional and Roth individual retirement accounts (IRAs); Coverdell Education Savings Accounts; SEPs, SARSEPs and SIMPLE IRAs held in brokerage accounts; and 529 college savings plans. Class R-6 shares are available to employer-sponsored SEPs, SARSEPs and SIMPLE IRAs held in fee-based programs that are serviced through retirement plan recordkeepers.
Purchases by employer-sponsored retirement plans Eligible retirement plans generally may open an account and purchase Class A or R shares by contacting any investment dealer (who may impose transaction charges in addition to those described in this
American Funds U.S. Government Money Market Fund / Prospectus 18
prospectus) authorized to sell these classes of the fund’s shares. Some or all R share classes may not be available through certain investment dealers. Additional shares may be purchased through a plan’s administrator or recordkeeper.
Class A shares are generally not available for retirement plans using the PlanPremier® or Recordkeeper Direct® recordkeeping programs. These programs are proprietary recordkeeping solutions for small retirement plans.
Employer-sponsored retirement plans that are eligible to purchase Class R shares may instead purchase Class A shares and pay the applicable Class A sales charge, provided that their recordkeepers can properly apply a sales charge on plan investments. These plans are not eligible to make initial purchases of $1 million or more in American Funds Class A shares and thereby invest in Class A shares without a sales charge, nor are they eligible to establish a statement of intention that qualifies them to purchase Class A shares without a sales charge.
Employer-sponsored retirement plans that invested in American Funds Class A shares without any sales charge before April 1, 2004, and that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value, may continue to purchase American Funds Class A shares without any initial or contingent deferred sales charge.
A 403(b) plan may not invest in American Funds Class A shares unless it was invested in Class A shares before January 1, 2009.
Purchase minimums and maximums Purchase minimums described in this prospectus may be waived in certain cases. Minimums are currently waived for purchases of Class F-2 and F-3 shares held under fee-based programs. In addition, the fund reserves the right to redeem the shares of any shareholder for their then current net asset value per share if the shareholder’s aggregate investment in the fund falls below the fund’s minimum initial investment amount. See the statement of additional information for details.
For accounts established with an automatic investment plan, the initial purchase minimum of $1,000 may be waived if the purchases (including purchases through exchanges from another fund) made under the plan are sufficient to reach $1,000 within five months of account establishment.
The effective purchase maximums for Class 529-A, 529-C, 529-E, 529-T, 529-F and ABLE shares will reflect the maximum applicable contribution limits under state law. See the applicable program description for more information.
19 American Funds U.S. Government Money Market Fund / Prospectus
Exchange Class A, C, T or F shares of any American Funds (other than American Funds U.S. Government Money Market Fund, as described below) may be exchanged for the corresponding 529 or ABLE share class (as applicable) without a sales charge. Rollovers of shares from Class 529-A to Class ABLE-A may also be effected without a sales charge. Exchanges from Class A, C, T or F shares to the corresponding 529 or ABLE share class (as applicable) and rollovers of shares from Class 529-A to Class ABLE-A, particularly in the case of Uniform Gifts to Minors Act or Uniform Transfers to Minors Act custodial accounts, may result in significant legal and tax consequences, as described in the applicable program description. Please consult your financial professional before making such an exchange.
Exchanges of shares from American Funds U.S. Government Money Market Fund initially purchased without a sales charge to shares of other American Funds will be subject to the appropriate sales charge applicable to the other fund, unless the American Funds U.S. Government Money Market Fund shares were acquired by an exchange from a fund having a sales charge or by reinvestment or cross-reinvestment of dividends or capital gain distributions. For purposes of computing the contingent deferred sales charge on Class C shares, the length of time you have owned your shares will be measured from the first day of the month in which shares were purchased and will not be affected by any permitted exchange.
Exchanges from Class A shares of the fund may generally be made for Class C shares of other American Funds for dollar cost averaging purposes; however, exchanges from Class A shares of the fund to Class C shares of American Funds Inflation Linked Bond Fund,® American Funds Short-Term Tax-Exempt Bond Fund,® Intermediate Bond Fund of America,® Limited Term Tax-Exempt Bond Fund of America® and Short-Term Bond Fund of America® are not permitted.
Exchanges have the same tax consequences as ordinary sales and purchases. For example, to the extent you exchange shares held in a taxable account that are worth more now than what you paid for them, the gain will be subject to taxation.
See “Transactions by telephone, fax or the Internet” in the section “How to sell shares” of this prospectus for information regarding electronic exchanges.
Please see the statement of additional information for details and limitations on moving investments in certain share classes to different share classes and on moving investments held in certain accounts to different accounts.
American Funds U.S. Government Money Market Fund / Prospectus 20
You may sell (redeem) shares in any of the following ways:
Employer-sponsored retirement plans
Shares held in eligible retirement plans may be sold through the plan’s administrator or recordkeeper.
Through your dealer or financial advisor (certain charges may apply)
· Shares held for you in your dealer’s name must be sold through the dealer.
· Class F shares must be sold through intermediaries such as dealers or financial advisors.
Writing to American Funds Service Company
· Requests must be signed by the registered shareholder(s).
· A signature guarantee is required if the redemption is:
— more than $125,000;
— made payable to someone other than the registered shareholder(s); or
— sent to an address other than the address of record or to an address of record that has been changed within the previous 10 days.
· American Funds Service Company reserves the right to require signature guarantee(s) on any redemption.
· Additional documentation may be required for redemptions of shares held in corporate, partnership or fiduciary accounts.
| Checkwriting |
• Checks must be signed by an authorized and registered shareholder exactly as indicated on your checking account signature card.
• Checkwriting is only available for Class A and F-2 shares held with the fund’s transfer agent (and not for Class 529-A, ABLE-A or ABLE-F-2 shares).
Telephoning or faxing American Funds Service Company or using the Internet
· Redemptions by telephone, fax or the Internet (capitalgroup.com) are limited to $125,000 per American Funds shareholder each day.
· Checks must be made payable to the registered shareholder.
· Checks must be mailed to an address of record that has been used with the account for at least 10 days.
The fund typically expects to remit redemption proceeds one business day following receipt and acceptance of a redemption order, regardless of the method the fund uses to make such payment (e.g., check, wire or automated clearing house transfer). However, payment may take longer than one business day and may take up to seven days as generally permitted by the Investment Company Act of 1940, as amended (the “1940 Act”). Under the 1940 Act, the fund may be permitted to pay redemption proceeds beyond seven days under certain limited circumstances. In addition, if you recently purchased shares and subsequently request a redemption of those shares, the fund will pay the available redemption proceeds once a sufficient period of time has passed to reasonably ensure that checks or drafts, including certified or cashier’s checks, for the shares purchased have cleared (normally seven business days from the purchase date).
21 American Funds U.S. Government Money Market Fund / Prospectus
Under normal conditions, the fund typically expects to meet shareholder redemptions by monitoring the fund’s portfolio and redemption activities and by regularly holding a reserve of highly liquid assets, such as cash or cash equivalents. The fund may use additional methods to meet shareholder redemptions, if they become necessary. These methods may include, but are not limited to, the sale of portfolio assets, the use of overdraft protection afforded by the fund’s custodian bank, borrowing from a line of credit or from other funds advised by the investment adviser or its affiliates, and making payment with fund securities or other fund assets rather than in cash (as further discussed in the following paragraph).
Although payment of redemptions normally will be in cash, the fund’s declaration of trust permits payment of the redemption price wholly or partly with portfolio securities or other fund assets under conditions and circumstances determined by the fund’s board of trustees. On the same redemption date, some shareholders may be paid in whole or in part in securities (which may differ among those shareholders), while other shareholders may be paid entirely in cash. In general, in-kind redemptions to affiliated shareholders will as closely as practicable represent the affiliated shareholder’s pro rata share of the fund’s securities, subject to certain exceptions. Securities distributed in-kind to unaffiliated shareholders will be selected by the investment adviser in a manner the investment adviser deems to be fair and reasonable to the fund’s shareholders. The disposal of the securities received in-kind may be subject to brokerage costs and, until sold, such securities remain subject to market risk and liquidity risk, including the risk that such securities are or become difficult to sell. If the fund pays your redemption with illiquid or less liquid securities, you will bear the risk of not being able to sell such securities.
Transactions by telephone, fax or the Internet Generally, you are automatically eligible to redeem or exchange shares by telephone, fax or the Internet, unless you notify us in writing that you do not want any or all of these services. You may reinstate these services at any time.
Unless you decide not to have telephone, fax or Internet services on your account(s), you agree to hold the fund, American Funds Service Company, any of its affiliates or mutual funds managed by such affiliates, and each of their respective directors, trustees, officers, employees and agents harmless from any losses, expenses, costs or liabilities (including attorney fees) that may be incurred in connection with the exercise of these privileges, provided that American Funds Service Company employs reasonable procedures to confirm that the instructions received from any person with appropriate account information are genuine. If reasonable procedures are not employed, American Funds Service Company and/or the fund may be liable for losses due to unauthorized or fraudulent instructions.
American Funds U.S. Government Money Market Fund / Prospectus 22
Frequent trading of fund shares The fund and American Funds Distributors reserve the right to reject any purchase order for any reason. The fund is not designed to serve as a vehicle for frequent trading. Frequent trading of fund shares may lead to increased costs to the fund and less efficient management of the fund’s portfolio, potentially resulting in dilution of the value of the shares held by long-term shareholders. Accordingly, purchases, including those that are part of exchange activity, that the fund or American Funds Distributors has determined could involve actual or potential harm to the fund may be rejected.
The fund, through its transfer agent, American Funds Service Company, maintains surveillance procedures that are designed to detect frequent trading in fund shares. Under these procedures, various analytics are used to evaluate factors that may be indicative of frequent trading. For example, transactions in fund shares that exceed certain monetary thresholds may be scrutinized. American Funds Service Company also may review transactions that occur close in time to other transactions in the same account or in multiple accounts under common ownership or influence. Trading activity that is identified through these procedures or as a result of any other information available to the fund will be evaluated to determine whether such activity might constitute frequent trading. These procedures may be modified from time to time as appropriate to improve the detection of frequent trading, to facilitate monitoring for frequent trading in particular retirement plans or other accounts and to comply with applicable laws.
Under the fund’s frequent trading policy, certain trading activity will not be treated as frequent trading, such as:
· transactions in Class 529 or Class ABLE shares;
· purchases and redemptions by investment companies managed or sponsored by the fund’s investment adviser or its affiliates, including reallocations and transactions allowing the investment company to meet its redemptions and purchases;
· retirement plan contributions, loans and distributions (including hardship withdrawals) identified as such on the retirement plan recordkeeper’s system;
· purchase transactions involving in-kind transfers of shares of the fund, rollovers, Roth IRA conversions and IRA recharacterizations, if the entity maintaining the shareholder account is able to identify the transaction as one of these types of transactions; and
· systematic redemptions and purchases, if the entity maintaining the shareholder account is able to identify the transaction as a systematic redemption or purchase.
Generally, purchases and redemptions will not be considered “systematic” unless the transaction is prescheduled for a specific date.
American Funds Service Company will work with certain intermediaries (such as investment dealers holding shareholder accounts in street name, retirement plan recordkeepers, insurance company separate accounts and bank trust companies) to apply their own procedures, provided that American Funds Service Company believes the intermediary’s procedures are reasonably designed to enforce the frequent trading policies of the fund. You should refer to disclosures provided by the intermediaries with which you have an account to determine the specific trading restrictions that apply to you.
23 American Funds U.S. Government Money Market Fund / Prospectus
If American Funds Service Company identifies any activity that may constitute frequent trading, it reserves the right to contact the intermediary and request that the intermediary either provide information regarding an account owner’s transactions or restrict the account owner’s trading. If American Funds Service Company is not satisfied that the intermediary has taken appropriate action, American Funds Service Company may terminate the intermediary’s ability to transact in fund shares.
There is no guarantee that all instances of frequent trading in fund shares will be prevented.
Notwithstanding the fund’s surveillance procedures described above, all transactions in fund shares remain subject to the right of the fund, American Funds Distributors and American Funds Service Company to restrict potentially abusive trading generally, including the types of transactions described above that will not be prevented. See the statement of additional information for more information about how American Funds Service Company may address other potentially abusive trading activity in American Funds.
Dividends The fund declares daily dividends from net investment income and distributes the accrued dividends, which may fluctuate, to you each month. Generally, dividends begin accruing on the day payment for shares is received by the fund or American Funds Service Company.
You may elect to reinvest dividends to purchase additional shares of this fund or other American Funds, or you may elect to receive them in cash. Dividends for the 529 and ABLE share classes and retirement plan shareholders will be reinvested automatically.
Taxes on dividends For federal income tax purposes, dividends you receive from the fund will be subject to tax, and also may be subject to state or local taxes — unless you are tax-exempt or your account is tax-favored.
Taxes on transactions Generally, redemptions of shares of the fund, including exchanges, will not result in a capital gain or loss for federal or state income tax purposes.
Exchanges within a tax-deferred retirement plan account will not result in a capital gain or loss for federal or state income tax purposes. With limited exceptions, distributions from a retirement plan account are taxable as ordinary income.
Shareholder fees Fees borne directly by the fund normally have the effect of reducing a shareholder’s taxable income on distributions.
Please see your tax advisor for more information. Holders of Class 529 and Class ABLE shares should refer to the applicable program description for more information regarding the tax consequences of selling Class 529 or Class ABLE shares, as applicable.
American Funds U.S. Government Money Market Fund / Prospectus 24
Choosing a share class The fund offers different classes of shares through this prospectus. The services or share classes available to you may vary depending upon how you wish to purchase shares of the fund.
Each share class of a fund represents an investment in the same portfolio of securities, but each class has its own sales charge and expense structure, allowing you to choose the class that best fits your situation. For example, while Class F-1 shares are subject to 12b-1 fees and subtransfer agency fees payable to third-party service providers, Class F-2 shares are subject only to subtransfer agency fees payable to third-party service providers (and not 12b-1 fees) and Class F-3 shares are not subject to any such additional fees. The different fee structures allow the investor to choose how to pay for advisory platform expenses. Class R shares offer different levels of 12b-1 and recordkeeping fees so that a plan can choose the class that best meets the cost associated with obtaining investment related services and participant level recordkeeping for the plan. When you purchase shares of the fund for an individual-type account, you should choose a share class. If none is chosen, your investment will be made in Class A shares or, in the case of a 529 plan investment, Class 529-A shares (or, if you are investing through a financial intermediary who offers only Class T and 529-T shares, your investment will be made in Class T or Class 529-T shares, as applicable).
Factors you should consider when choosing a class of shares include:
· Whether you want or need the flexibility to effect exchanges among American Funds without the imposition of a sales charge (for example, while Class A shares offer such exchange privileges, Class T shares do not);
· whether you plan to take any distributions in the near future (for example, the contingent deferred sales charge will not be waived if you sell your Class 529-C shares to cover higher education expenses); and
· availability of share classes:
— Class C and 529-C shares may be acquired only by exchanging from Class C or 529-C shares of other American Funds;
— Class F and 529-F shares are available, as applicable, (i) to fee-based programs of investment dealers that have special agreements with the fund’s distributor, (ii) to financial intermediaries that have been approved by, and that have special agreements with, the fund’s distributor to offer Class F and 529-F shares to self-directed investment brokerage accounts that may charge a transaction fee, (iii) to certain registered investment advisors and (iv) to other intermediaries approved by the fund’s distributor;
— Class F-3 shares (but not Class 529-F-3 shares) are also available to institutional investors, which include, but are not limited to, charitable organizations, governmental institutions and corporations. For accounts held and serviced by the fund’s transfer agent the minimum investment amount is $1 million; and
— Class R shares are available (i) to retirement plans established under Internal Revenue Code Sections 401(a) (including 401(k) plans), 403(b) or 457, (ii) to nonqualified deferred compensation plans and certain voluntary employee benefit association and post-retirement benefit plans, (iii) to certain institutional investors (including, but not limited to, certain charitable organizations), (iv) to
25 American Funds U.S. Government Money Market Fund / Prospectus
certain registered investment companies approved by the fund’s investment adviser or distributor and (v) to other institutional-type accounts.
Each investor’s financial considerations are different. You should speak with your financial professional to help you decide which share class is best for you.
Class A and ABLE-A shares Class A and ABLE-A shares of the fund are sold without an initial sales charge. However, if shares of the fund are exchanged for shares of an American Funds non–money market fund, the sales charge applicable to the non–money market fund may apply.
Class C shares Class C shares are sold without any initial sales charge. A contingent deferred sales charge of 1% applies if Class C shares are sold within one year of purchase. The contingent deferred sales charge is eliminated one year after purchase.
Any contingent deferred sales charge paid by you on sales of Class C shares, expressed as a percentage of the applicable redemption amount, may be higher or lower than the percentages described above due to rounding.
Class T shares Class T shares of the fund are sold without an initial sales charge. However, if shares of the fund are exchanged for shares of an American Funds non-money market fund, the sales charge applicable to the non–money market fund may apply.
Class 529-E and Class F shares Class 529-E and Class F shares (including Class 529-F shares) are sold without any initial or contingent deferred sales charge.
Class R shares Class R shares are sold without any initial or contingent deferred sales charge. The distributor will pay dealers annually asset-based compensation of up to 1.00% for sales of Class R-1 shares, up to .75% for Class R-2 shares, up to .60% for Class R-2E shares, up to .50% for Class R-3 shares and up to .25% for Class R-4 shares. No dealer compensation is paid on sales of Class R-5E, R-5 or R-6 shares. The fund may reimburse the distributor for these payments through its plans of distribution.
See “Plans of distribution” in this prospectus for ongoing compensation paid to your financial professional for all share classes.
Contingent deferred sales charges Shares acquired through reinvestment of dividends are not subject to a contingent deferred sales charge. In addition, the contingent deferred sales charge may be waived in certain circumstances. See “Contingent deferred sales charge waivers” in the “Sales charge waivers” section of this prospectus. For purposes of determining the contingent deferred sales charge, if you sell only some of your shares, shares that are not subject to any contingent deferred sales charge will be sold first, followed by shares that you have owned the longest.
American Funds U.S. Government Money Market Fund / Prospectus 26
Sales charge waivers Certain financial intermediaries that distribute shares of American Funds may impose different sales charge waivers than those described in this prospectus. Such variations in sales charge waivers are described in an appendix to this prospectus titled “Sales charge waivers.” Note that such sales charge waivers and discounts offered through a particular intermediary, as set forth in the appendix to this prospectus, are implemented and administered solely by that intermediary. Please contact the applicable intermediary to ensure that you understand the steps you must take in order to qualify for any available waivers or discounts.
Right of reinvestment If you notify American Funds Service Company prior to the time of reinvestment, you may reinvest proceeds from a redemption, dividend payment or capital gain distribution without a sales charge in the same fund or other American Funds, provided that the reinvestment occurs within 90 days after the date of the redemption, dividend payment or distribution and is made into the same account from which you redeemed the shares or received the dividend payment or distribution. If the account has been closed, you may reinvest without a sales charge if the new receiving account has the same registration as the closed account and the reinvestment is made within 90 days after the date of redemption, dividend payment or distribution.
Proceeds from a redemption and all dividend payments and capital gain distributions will be reinvested in the same share class from which the original redemption, dividend payment or distribution was made. Any contingent deferred sales charge on Class C shares will be credited to your account. Redemption proceeds of Class A shares representing direct purchases in American Funds U.S. Government Money Market Fund that are reinvested in other American Funds will be subject to a sales charge.
Proceeds will be reinvested at the next calculated net asset value after your request is received by American Funds Service Company, provided that your request contains all information and legal documentation necessary to process the transaction. For purposes of this “right of reinvestment policy,” automatic transactions (including, for example, automatic purchases, withdrawals and payroll deductions) and ongoing retirement plan contributions are not eligible for investment without a sales charge. This paragraph does not apply to certain rollover investments as described under “Rollovers from retirement plans to IRAs” in this prospectus. Depending on the financial intermediary holding your account, your reinvestment privileges may be unavailable or differ from those described in this prospectus.
27 American Funds U.S. Government Money Market Fund / Prospectus
Contingent deferred sales charge waivers The contingent deferred sales charge on Class C shares will be waived in the following cases:
· permitted exchanges of shares, except if shares acquired by exchange are then redeemed within the period during which a contingent deferred sales charge would apply to the initial shares purchased;
· tax-free returns of excess contributions to IRAs;
· redemptions due to death or postpurchase disability of the shareholder (this generally excludes accounts registered in the names of trusts and other entities);
· in the case of joint tenant accounts, if one joint tenant dies, a surviving joint tenant, at the time he or she notifies American Funds Service Company of the other joint tenant’s death and removes the decedent’s name from the account, may redeem shares from the account without incurring a contingent deferred sales charge; however, redemptions made after American Funds Service Company is notified of the death of a joint tenant will be subject to a contingent deferred sales charge;
· for 529 share classes only, redemptions due to a beneficiary’s death, postpurchase disability or receipt of a scholarship (to the extent of the scholarship award);
· redemptions due to the complete termination of a trust upon the death of the trustor/grantor or beneficiary, but only if such termination is specifically provided for in the trust document;
· shares redeemed at the discretion of American Funds Service Company for accounts that do not meet the fund’s minimum investment requirements, as described in this prospectus; and
· the following types of transactions, if they do not exceed 12% of the value of an account annually:
— required minimum distributions taken from retirement accounts in accordance with IRS regulations; and
— redemptions through an automatic withdrawal plan (“AWP”) (see “Automatic withdrawals” under “Shareholder account services and privileges” in the statement of additional information). For each AWP payment, assets that are not subject to a contingent deferred sales charge, such as shares acquired through reinvestment of dividends and/or capital gain distributions, will be redeemed first and will count toward the 12% limit. If there is an insufficient amount of assets not subject to a contingent deferred sales charge to cover a particular AWP payment, shares subject to the lowest contingent deferred sales charge will be redeemed next until the 12% limit is reached. Any dividends and/or capital gain distributions taken in cash by a shareholder who receives payments through an AWP will also count toward the 12% limit. In the case of an AWP, the 12% limit is calculated at the time an automatic redemption is first made, and is recalculated at the time each additional automatic redemption is made. Shareholders who establish an AWP should be aware that the amount of a payment not subject to a contingent deferred sales charge may vary over time depending on fluctuations in the value of their accounts. This privilege may be revised or terminated at any time.
For purposes of this paragraph, “account” means your investment in the applicable class of shares of the particular fund from which you are making the redemption.
American Funds U.S. Government Money Market Fund / Prospectus 28
Contingent deferred sales charge waivers are allowed only in the cases listed here and in the statement of additional information. For example, contingent deferred sales charge waivers will not be allowed on redemptions of Class 529-C shares due to termination of CollegeAmerica; a determination by the Internal Revenue Service that CollegeAmerica does not qualify as a qualified tuition program under the Code; proposal or enactment of law that eliminates or limits the tax-favored status of CollegeAmerica; or elimination of the fund by Virginia529 as an option for additional investment within CollegeAmerica.
To have your Class C contingent deferred sales charge waived, you must inform your financial professional or American Funds Service Company at the time you redeem shares that you qualify for such a waiver.
Other sales charge waivers Purchases of Class A, 529-A and ABLE-A shares through a self-clearing broker-dealer firm generally incur a sales charge. However, self-clearing broker-dealer firms may (i) offer 529-A or ABLE-A shares purchased through a rollover from another 529 plan or ABLE plan at net asset value (“rollover”), (ii) invest a recontribution of a refunded qualified education expense in 529-A shares without a sales charge (“refunded 529 expense”) or (iii) extend the 90 day right of reinvestment to allow reinvestment in Class A shares without a sales charge in cases where fund shareholders request reinvestment of a required minimum distribution from an Individual Retirement Account if such requirement is waived by regulation or legislation (“waived RMD reinvestment”), provided that the self-clearing broker-dealer firm has specific language in this prospectus to such effect. If a self-clearing firm does not have their own policies listed in the prospectus, rollovers, refunded 529 expenses and waived RMD reinvestments are not available without a sales charge. Firm specific language is located in the Appendix to the prospectus. A self-clearing broker-dealer firm is a firm that holds some or all of the assets in your account, executes trades for the assets held on its platform internally rather than through the fund’s transfer agent or a third-party clearing firm and provides account statements and tax reporting to you. The largest broker-dealer firms are typically self-clearing. For all other broker-dealer firms, shares purchased through a rollover, refunded 529 expense or a waived RMD reinvestment are available at net asset value.
For accounts held with the fund’s transfer agent, purchases of shares through rollovers, refunded 529 expenses and waived RMD reinvestments are not subject to sales charges. If you have any questions, ask your financial professional whether Class A or 529-A shares purchased through these policies are available without a sales charge.
Recontributions or waived RMD investments distributed from Class 529-C or Class C shares will be reinvested in the same share class from which the distribution was made. In addition, any contingent deferred sales change paid on Class 529-A/Class A and Class 529-C/Class C share distributions under these policies will be credited to your account when reinvested.
Waivers of all or a portion of the contingent deferred sales charge on Class C and 529-C shares and the sales charge on Class A and 529-A shares will be granted for transactions requested by financial intermediaries as a result of (i) pending or anticipated regulatory matters that require investor accounts to be moved to a different share class or (ii) conversions of IRAs from brokerage to advisory accounts investing in Class F shares in cases where new investments in brokerage IRA accounts have been restricted by the intermediary.
29 American Funds U.S. Government Money Market Fund / Prospectus
In addition to the information in this prospectus, you may obtain more information about share classes, sales charges and sales charge reductions and waivers through a link on the home page of our website at capitalgroup.com, from the statement of additional information or from your financial professional.
Rollovers from retirement plans to IRAs Assets from retirement plans may be invested in Class A, C or F shares through an IRA rollover, subject to the other provisions of this prospectus. Class C shares are not available if the assets are being rolled over from investments held in American Funds Recordkeeper Direct and PlanPremier retirement plan recordkeeping programs.
Rollovers to IRAs from retirement plans that are rolled into Class A shares will be subject to applicable sales charges. The following rollovers to Class A shares will be made without a sales charge:
· rollovers to Capital Bank and Trust Company IRAs if the assets were invested in any fund managed by the investment adviser or its affiliates at the time of distribution;
· rollovers to IRAs from 403(b) plans with Capital Bank and Trust Company as custodian; and
· rollovers to Capital Bank and Trust Company IRAs from investments held in American Funds Recordkeeper Direct and PlanPremier retirement plan recordkeeping programs.
IRA rollover assets that roll over without a sales charge as described above will not be subject to a contingent deferred sales charge, and investment dealers will be compensated solely with an annual service fee that begins to accrue immediately. All other rollovers invested in Class A shares, as well as future contributions to the IRA, will be subject to sales charges and to the terms and conditions generally applicable to Class A share investments as described in this prospectus and in the statement of additional information.
American Funds U.S. Government Money Market Fund / Prospectus 30
Plans of distribution The fund has plans of distribution, or “12b-1 plans,” for certain share classes under which it may finance activities intended primarily to sell shares, provided that the categories of expenses are approved in advance by the fund’s board of trustees. The plans provide for payments, based on annualized percentages of average daily net assets, of:
| Up to: | Share class(es) |
| 0.15% | Class A shares |
| 0.50% | Class T, F-1, 529-A, 529-T, 529-F-1, ABLE-A and R-4 shares |
| 0.75% | Class 529-E and R-3 shares |
| 0.85% | Class R-2E shares |
| 1.00% | Class C, 529-C, R-1 and R-2 shares |
A portion (up to .15% for Class A, 529-A and ABLE-A shares and .25% for Class C, 529-C, 529-E, T, 529-T, F-1, 529-F-1 and R shares) may be used to pay service fees to qualified dealers for providing certain shareholder services. The amount remaining for each share class, if any, may be used for distribution expenses.
The 12b-1 fees paid by each applicable share class of the fund, as a percentage of average net assets for the most recent fiscal year, are indicated in the Annual Fund Operating Expenses table under “Fees and expenses of the fund” in this prospectus. Since these fees are paid out of the fund’s assets on an ongoing basis, over time they may cost you more than paying other types of sales charges or service fees and reduce the return on your investment. The higher fees for Class C shares may cost you more over time than paying the initial sales charge for Class A or T shares.
The fund may suspend 12b-1 payments under agreements between its principal underwriter and intermediaries and other entities that sell fund shares.
31 American Funds U.S. Government Money Market Fund / Prospectus
Other compensation to dealers American Funds Distributors, at its expense, provides additional compensation to investment dealers. These payments may be made, at the discretion of American Funds Distributors, to no more than the top 60 dealers (or their affiliates) with which it has a substantive distribution relationship involving the sale of American Funds. The amount will be determined using a formula applied consistently to dealers based on their assets under management. The level of payments made to a qualifying firm under the formula will not exceed .035% of eligible American Funds assets attributable to that dealer. Eligible assets are all American Funds assets other than Class R shares, Class F-3 shares, Class F shares held in IRAs and shares held in certain retirement accounts. Dealers may direct American Funds Distributors to exclude additional assets. In addition to the asset-based payment, American Funds Distributors provides $5 million to certain firms based on their engagement with American Funds Distributors and the level of American Funds assets under management at each such firm to recognize the commitment each of those firms has made to collaborating with American Funds Distributors on achieving advisor training and education objectives. In 2021, American Funds Distributors paid this amount to the following firms:
| Edward Jones | Morgan Stanley Wealth Management |
| LPL Financial LLC | Raymond James Group |
| Merrill Lynch, Pierce, Fenner & Smith | Wells Fargo Advisors |
American Funds Distributors compensates the firms to support various efforts, including, among other things, to:
· help defray the costs incurred by qualifying dealers in connection with efforts to educate financial professionals about American Funds so that they can make recommendations and provide services that are suitable and meet shareholder needs;
· help defray the costs associated with the dealer firms’ provision of account related services and activities and support the dealer firms’ distribution activities; and
· support meetings, conferences or other training and educational events hosted by the firm, and obtain relevant data regarding financial professional activities to facilitate American Funds Distributors’ training and education activities.
American Funds Distributors will, on an annual basis, determine the advisability of continuing these payments. Firms receiving additional compensation payments must sign a letter acknowledging the purpose of the payment and generally requiring the firms to (1) perform the due diligence necessary to include American Funds on their platform, (2) not provide financial professionals, branch managers or associated persons with any financial incentives to promote the sales of one approved fund group over another approved group, (3) provide opportunities for their clients to obtain individualized advice, (4) provide American Funds Distributors broad access to their financial professionals and product platforms and work together on mutual business objectives, and (5) work with the fund’s transfer agent to promote operational efficiencies and to facilitate necessary communication between American Funds and the firm’s clients who own shares of American Funds.
Separately, American Funds Distributors has identified certain firms that provide a self-directed platform for the public as well as clearing, custody and recordkeeping services for certain other intermediaries. In lieu of the formula described above, these firms receive up to .018% of assets under administration (excluding assets where the firm acts
American Funds U.S. Government Money Market Fund / Prospectus 32
as a fiduciary and Class R shares). Firms may direct American Funds Distributors to exclude additional assets.
In addition to compensation through the formulas described above, American Funds Distributors makes payments to certain financial intermediaries for client account maintenance support, statement preparation, and transaction processing. These payments are based on the average daily net asset value of fund shares held by the intermediary and are in addition to any amounts paid by the fund.
American Funds Distributors also provides compensation for, among other things, data (including fees to obtain information on financial professionals to better tailor training and education opportunities), operational improvements, support for transaction fees, technology enhancements and specific training, education and marketing opportunities. The largest payments by American Funds Distributors in 2021 for these services are listed below. In addition to the payments listed below, American Funds Distributors made payments to other firms, and in no case did any such payment exceed $100,000.
| Cetera | $120,000 |
| Fidelity Investments | $1,700,000 |
| LPL Financial LLC | $2,600,000 |
| Morgan Stanley Wealth Management | $1,140,000 |
| Principal Life Insurance Company | $200,000 |
| UBS Financial Services Inc. | $300,000 |
| Wells Fargo Advisors | $450,000 |
American Funds Distributors also pays expenses associated with meetings and other training and educational opportunities conducted by selling dealers, advisory platform providers and other intermediaries to facilitate educating financial professionals and shareholders about American Funds.
American Funds Distributors pays the recordkeepers listed below up to $1 million annually for product services, platform consideration, participation at recordkeeper-sponsored events and co-branding and other marketing services. The amount of the payment is based on the level of services and the access provided by the recordkeeper.
| Empower (Great West Life & Annuity Insurance Company) | Transamerica |
| John Hancock | |
If investment advisers, distributors or other affiliates of mutual funds pay additional compensation or other incentives to investment dealers in differing amounts, dealer firms and their financial professionals may have financial incentives for recommending a particular mutual fund over other mutual funds or investments, creating a potential conflict of interest. You should consult with your financial professional and review carefully any disclosure by your financial professional’s firm as to compensation received.
Fund expenses Note that, unless otherwise stated, references to Class A, C, T and F shares in this “Fund expenses” section do not include the corresponding Class 529 or ABLE shares.
In periods of market volatility, assets of the fund may decline significantly, causing total annual fund operating expenses (as a percentage of the value of your investment) to become higher than the numbers shown in the Annual Fund Operating Expenses table under “Fees and expenses of the fund” in this prospectus.
33 American Funds U.S. Government Money Market Fund / Prospectus
For all share classes, “Other expenses” items in the Annual Fund Operating Expenses table in this prospectus include fees for administrative services provided by the fund’s investment adviser and its affiliates. Administrative services are provided by the investment adviser and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The Administrative Services Agreement between the fund and the investment adviser provides the fund the ability to charge an administrative services fee of .05% for all share classes. The fund’s investment adviser receives an administrative services fee at the annual rate of .03% of the average daily net assets of the fund attributable to Class A, C, T, F, R, 529 and ABLE shares (which could be increased as noted above) for its provision of administrative services.
The “Other expenses” items in the Annual Fund Operating Expenses table also include custodial, legal and transfer agent (and, if applicable, subtransfer agent/recordkeeping) payments and various other expenses applicable to all share classes.
Subtransfer agency and recordkeeping fees Subtransfer agent/recordkeeping payments may be made to third parties (including affiliates of the fund’s investment adviser) that provide subtransfer agent, recordkeeping and/or shareholder services with respect to certain shareholder accounts in lieu of the transfer agent providing such services. The amount paid for subtransfer agent/recordkeeping services varies depending on the share class and services provided, and typically ranges from $3 to $18 per account. Although Class F-3 and Class 529-F-3 shares are not subject to any subtransfer agency or recordkeeping fees, Class F-1 and F-2 shares (and the corresponding Class 529 and Class ABLE shares) are subject to subtransfer agency fees of up to .12% of fund assets.
For employer-sponsored retirement plans, the amount paid for subtransfer agent/ recordkeeping services varies depending on the share class selected. The table below shows the maximum payments to entities providing these services to retirement plans.
| Payments | |
| Class A | 0.05%
of assets or $12 per participant position* |
| Class R-1 | 0.10% of assets |
| Class R-2 | 0.35% of assets |
| Class R-2E | 0.20% of assets |
| Class R-3 | 0.15% of assets |
| Class R-4 | 0.10% of assets |
| Class R-5E | 0.15% of assets |
| Class R-5 | 0.05% of assets |
| Class R-6 | none |
* Payment amount depends on the date services commenced.
Fee to Virginia529 For Class 529 and ABLE shares, an expense of up to a maximum of .09% paid to a state or states for oversight and administrative services is included as an “Other expenses” item.
American Funds U.S. Government Money Market Fund / Prospectus 34
Financial highlights The Financial Highlights table is intended to help you understand the fund’s results for the past five fiscal years. Certain information reflects financial results for a single share of a particular class. The total returns in the table represent the rate that an investor would have earned or lost on an investment in the fund (assuming reinvestment of all dividends). Where indicated, figures in the table reflect the impact, if any, of certain waivers/reimbursements from Capital Research and Management Company. For more information about these waivers/reimbursements, see the fund’s statement of additional information and annual report. The information in the Financial Highlights table has been audited by PricewaterhouseCoopers LLP, whose current report, along with the fund’s financial statements, is included in the statement of additional information, which is available upon request.
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class A: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $.01 | $(.01 | ) | $1.00 | .52 | % | $16,894 | .37 | % | .24 | % | .56 | % | ||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 14,239 | .37 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .61 | 15,623 | .38 | .28 | .51 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.96 | 10,718 | .37 | .37 | 1.94 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.19 | 10,770 | .38 | .38 | 1.18 | ||||||||
| Class C: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .52 | 331 | .37 | .25 | .63 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 224 | .37 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .62 | 319 | .38 | .27 | .42 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.93 | 175 | .40 | .40 | 1.92 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.16 | 152 | .41 | .41 | 1.13 | ||||||||
| Class T: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .51 | 6 | — | 7 | .37 | 6 | .22 | 6 | .53 | 6 | |||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 6 | — | 7 | .37 | 6 | .06 | 6 | — | 5, 6 | |||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .62 | 6 | — | 7 | .38 | 6 | .29 | 6 | .62 | 6 | |||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.94 | 6 | — | 7 | .39 | 6 | .39 | 6 | 1.92 | 6 | |||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.18 | 6 | — | 7 | .39 | 6 | .39 | 6 | 1.17 | 6 | |||
| 35 American Funds U.S. Government Money Market Fund / Prospectus |
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class F-1: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $— | 4 | $— | 4 | $1.00 | .40 | % | $255 | .65 | % | .37 | % | .44 | % | |||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 224 | .66 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | — | 4 | — | 4 | 1.00 | .46 | 269 | .66 | .41 | .37 | |||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.64 | 179 | .69 | .69 | 1.62 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | .87 | 166 | .70 | .70 | .88 | ||||||||
| Class F-2: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .52 | 1,842 | .36 | .23 | .55 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 1,565 | .36 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .62 | 1,492 | .37 | .28 | .56 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.95 | 1,226 | .39 | .39 | 1.93 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.14 | 87 | .43 | .43 | 1.22 | ||||||||
| Class F-3: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .55 | 111 | .31 | .17 | .51 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 147 | .31 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .66 | 98 | .31 | .24 | .59 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 2.01 | 72 | .32 | .32 | 1.94 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.24 | 16 | .34 | .34 | 1.34 | ||||||||
| Class 529-A: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | — | 4 | 1.00 | .49 | 2,355 | .42 | .26 | .51 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 2,276 | .43 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .58 | 2,456 | .44 | .31 | .50 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.87 | 1,755 | .46 | .46 | 1.85 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.10 | 1,440 | .47 | .47 | 1.11 | ||||||||
| American Funds U.S. Government Money Market Fund / Prospectus 36 |
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class 529-C: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $.01 | $— | 4 | $1.00 | .49 | % | $52 | .42 | % | .25 | % | .50 | % | ||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 57 | .43 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .58 | 85 | .45 | .35 | .60 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.87 | 171 | .46 | .46 | 1.85 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.09 | 155 | .48 | .48 | 1.03 | ||||||||
| Class 529-E: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .50 | 102 | .41 | .25 | .51 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 105 | .42 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .59 | 118 | .43 | .31 | .51 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.88 | 89 | .45 | .45 | 1.86 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.10 | 75 | .47 | .47 | 1.11 | ||||||||
| Class 529-T: | ||||||||||||||||||
| 9/30/2022 | 1.00 | — | 4 | — | 4 | 1.00 | .49 | 6 | — | 7 | .45 | 6 | .27 | 6 | .48 | 6 | ||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 6 | — | 7 | .45 | 6 | .07 | 6 | — | 5, 6 | |||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .57 | 6 | — | 7 | .46 | 6 | .34 | 6 | .57 | 6 | |||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.85 | 6 | — | 7 | .48 | 6 | .48 | 6 | 1.84 | 6 | |||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.11 | 6 | — | 7 | .46 | 6 | .46 | 6 | 1.10 | 6 | |||
| Class 529-F-1: | ||||||||||||||||||
| 9/30/2022 | 1.00 | — | 4 | — | 4 | 1.00 | .47 | 6 | — | 7 | .48 | 6 | .27 | 6 | .48 | 6 | ||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 6 | — | 7 | .40 | 6 | .10 | 6 | — | 5, 6 | |||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .58 | 6 | 230 | .44 | 6 | .31 | 6 | .50 | 6 | ||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.87 | 6 | 158 | .46 | 6 | .46 | 6 | 1.85 | 6 | ||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.10 | 6 | 111 | .47 | 6 | .47 | 6 | 1.12 | 6 | ||||
| Class 529-F-2: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | — | 4 | 1.00 | .49 | 278 | .42 | .26 | .53 | ||||||||
| 9/30/20218, 9 | 1.00 | — | 4 | — | 1.00 | .00 | 10 | 242 | .46 | 11 | .06 | 11 | — | 5, 11 | ||||
| 37 American Funds U.S. Government Money Market Fund / Prospectus |
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class 529-F-3: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $.01 | $(.01 | ) | $1.00 | .51 | % | $— | 7 | .37 | % | .23 | % | .52 | % | |||
| 9/30/20218, 9 | 1.00 | — | 4 | — | 1.00 | .00 | 10 | — | 7 | .44 | 11 | .05 | 11 | — | 5, 11 | |||
| Class ABLE-A: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .52 | 2 | .41 | .24 | .63 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 1 | .42 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .62 | 1 | .43 | .27 | .49 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.95 | — | 7 | .44 | .38 | 1.94 | |||||||
| 9/30/20188, 12 | 1.00 | — | 4 | — | 4 | 1.00 | .34 | 10 | — | 7 | .09 | 10 | .09 | 10 | .35 | 10 | ||
| Class ABLE-F-2: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .52 | — | 7 | .41 | 0 | .24 | .59 | ||||||
| 9/30/20218, 9 | 1.00 | — | 4 | — | 1.00 | .00 | 10 | — | 7 | .41 | 11 | .06 | 11 | — | 5, 11 | |||
| Class R-1: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .51 | 44 | .38 | .23 | .52 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 42 | .38 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .60 | 44 | .40 | .30 | .56 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.90 | 37 | .43 | .43 | 1.89 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.14 | 33 | .43 | .43 | 1.12 | ||||||||
| Class R-2: | ||||||||||||||||||
| 9/30/2022 | 1.00 | — | 4 | — | 4 | 1.00 | .18 | 888 | 1.39 | .58 | .18 | |||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 845 | 1.40 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | — | 4 | — | 4 | 1.00 | .11 | 932 | 1.41 | .74 | .09 | |||||||
| 9/30/2019 | 1.00 | .01 | (.01 | ) | 1.00 | .89 | 735 | 1.43 | 1.43 | .89 | ||||||||
| 9/30/2018 | 1.00 | — | 4 | — | 4 | 1.00 | .22 | 742 | 1.44 | 1.34 | .22 | |||||||
| American Funds U.S. Government Money Market Fund / Prospectus 38 |
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class R-2E: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $— | 4 | $— | 4 | $1.00 | .26 | % | $93 | 1.11 | % | .51 | % | .28 | % | |||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 85 | 1.12 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | — | 4 | — | 4 | 1.00 | .25 | 87 | 1.12 | .58 | .19 | |||||||
| 9/30/2019 | 1.00 | .01 | (.01 | ) | 1.00 | 1.19 | 46 | 1.15 | 1.15 | 1.20 | ||||||||
| 9/30/2018 | 1.00 | — | 4 | — | 4 | 1.00 | .46 | 30 | 1.16 | 1.15 | .46 | |||||||
| Class R-3: | ||||||||||||||||||
| 9/30/2022 | 1.00 | — | 4 | — | 4 | 1.00 | .30 | 1,117 | .95 | .45 | .31 | |||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 1,060 | .96 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | — | 4 | — | 4 | 1.00 | .31 | 1,170 | .96 | .54 | .27 | |||||||
| 9/30/2019 | 1.00 | .01 | (.01 | ) | 1.00 | 1.34 | 850 | .98 | .98 | 1.33 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | .61 | 813 | .99 | .99 | .57 | ||||||||
| Class R-4: | ||||||||||||||||||
| 9/30/2022 | 1.00 | — | 4 | — | 4 | 1.00 | .40 | 934 | .65 | .35 | .41 | |||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 894 | .66 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | — | 4 | — | 4 | 1.00 | .46 | 946 | .66 | .42 | .41 | |||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.65 | 734 | .68 | .68 | 1.64 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | .88 | 680 | .69 | .69 | .86 | ||||||||
| 39 American Funds U.S. Government Money Market Fund / Prospectus |
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class R-5E: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $.01 | $— | 4 | $1.00 | .48 | % | $190 | .45 | % | .28 | % | .55 | % | ||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 133 | .46 | .06 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .57 | 98 | .46 | .31 | .44 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.86 | 40 | .47 | .47 | 1.86 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.09 | 13 | .48 | .48 | 1.22 | ||||||||
| Class R-5: | ||||||||||||||||||
| 9/30/2022 | 1.00 | .01 | (.01 | ) | 1.00 | .52 | 239 | .36 | .23 | .58 | ||||||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 199 | .36 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .63 | 242 | .36 | .27 | .54 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 1.95 | 182 | .38 | .38 | 1.94 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.18 | 192 | .39 | .39 | 1.16 | ||||||||
| American Funds U.S. Government Money Market Fund / Prospectus 40 |
| Year ended | Net
asset value, beginning of year |
Net investment income (loss)1 |
Dividends (from net investment income) |
Net
asset value, end of year |
Total return2, 3 |
Net
assets, end of year (in millions) |
Ratio
of expenses to average net assets before waivers/reimburse-ments |
Ratio of expenses to average net assets after waivers/reimburse-ments3 |
Ratio
of net income (loss) to average net assets3 | |||||||||
| Class R-6: | ||||||||||||||||||
| 9/30/2022 | $1.00 | $.01 | $(.01 | ) | $1.00 | .55 | % | $1,141 | .31 | % | .20 | % | .57 | % | ||||
| 9/30/2021 | 1.00 | — | 4 | — | 1.00 | .00 | 1,057 | .31 | .07 | — | 5 | |||||||
| 9/30/2020 | 1.00 | .01 | (.01 | ) | 1.00 | .66 | 1,469 | .32 | .24 | .54 | ||||||||
| 9/30/2019 | 1.00 | .02 | (.02 | ) | 1.00 | 2.00 | 904 | .33 | .33 | 1.99 | ||||||||
| 9/30/2018 | 1.00 | .01 | (.01 | ) | 1.00 | 1.23 | 765 | .34 | .34 | 1.24 | ||||||||
1 Based on average shares outstanding.
2 Total returns exclude any applicable sales charges, including contingent deferred sales charges.
3 This column reflects the impact, if any, of certain waivers/reimbursements from Capital Research and Management Company and/or Virginia529. During some of the years shown, Capital Research and Management Company reimbursed a portion of miscellaneous fees and expenses for certain share classes due to lower short-term interest rates and reimbursed a portion of transfer agent services fees for certain share classes. In addition, during the years shown, Virginia529 waived ABLE plan services fees for existing Class ABLE shares.
4 Amount less than $.01.
5 Amount less than .01%.
6 All or a significant portion of assets in this class consisted of seed capital invested by Capital Research and Management Company and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower.
7 Amount less than $1 million.
8 Based on operations for a period that is less than a full year.
9 Class 529-F-2, Class 529-F-3 and ABLE-F-2 shares began investment operations on October 30, 2020.
10 Not annualized.
11 Annualized.
12 Class ABLE-A shares began investment operations on July 13, 2018.
| 41 American Funds U.S. Government Money Market Fund / Prospectus |
Sales charge waivers
The availability of certain sales charge waivers and discounts will depend on whether you purchase your shares directly from the fund or through a financial intermediary. Intermediaries may have different policies and procedures regarding the availability of front-end sales charge waivers or contingent deferred (back-end) sales charge (“CDSC”) waivers, which are discussed below. In all instances, it is the purchaser’s responsibility to notify the fund or the purchaser’s financial intermediary at the time of purchase of any relationship or other facts qualifying the purchaser for sales charge waivers or discounts. Please contact the applicable intermediary with any questions regarding how the intermediary applies the policies described below and to ensure that you understand what steps you must take to qualify for any available waivers or discounts. For waivers and discounts not available through a particular intermediary, shareholders will have to purchase fund shares directly from the fund or through another intermediary to receive these waivers or discounts. If you change intermediaries after you purchase fund shares, the policies and procedures of the new service provider (either your new intermediary or the fund’s transfer agent) will apply to your account. Those policies may be more or less favorable than those offered by the intermediary through which you purchased your fund shares. You should review any policy differences before changing intermediaries.
Class A shares front-end sales charge waivers available at Ameriprise Financial:
The following information applies to Class A shares purchases if you have an account with or otherwise purchase fund shares through Ameriprise Financial:
Effective May 24, 2021, shareholders purchasing fund shares through an Ameriprise Financial brokerage account are eligible for the following front-end sales charge waivers, which may differ from those disclosed elsewhere in this fund’s prospectus or SAI:
· Employer-sponsored retirement plans established prior to April 1, 2004 and that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs or SAR-SEPs
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the same fund family)
· Shares exchanged from Class C shares of the same fund in the month of or following the 7-year anniversary of the purchase date. To the extent that this prospectus elsewhere provides for a waiver with respect to exchanges of Class C shares or conversion of Class C shares following a shorter holding period, that waiver will apply
· Employees and registered representatives of Ameriprise Financial or its affiliates and their immediate family members
· Shares purchased by or through qualified accounts (including IRAs, Coverdell Education Savings Accounts, 401(k)s, 403(b) TSCAs subject to ERISA and defined benefit plans established prior to April 1, 2004 that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value) that are held by a covered family member, defined as an Ameriprise financial advisor and/or the advisor’s spouse, advisor’s lineal ascendant (mother, father, grandmother, grandfather, great
American Funds U.S. Government Money Market Fund / Prospectus 42
grandmother, great grandfather), advisor’s lineal descendant (son, step-son, daughter, step-daughter, grandson, granddaughter, great grandson, great granddaughter) or any spouse of a covered family member who is a lineal descendant
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e. Rights of Reinstatement)
· Purchases of Class 529-A shares through a rollover from another 529 plan
· Purchases of Class 529 shares made for recontribution of refunded amounts
D.A. Davidson & Co. (“D.A. Davidson”)
Front-end sales charge waivers on Class A shares available at D.A. Davidson (effective January 1, 2020)
· Shares purchased within the same fund family through a systematic reinvestment of capital gains and dividend distributions
· Employees and registered representatives of D.A. Davidson or its affiliates and their family members as designated by D.A. Davidson
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as Rights of Reinstatement)
· A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the fund if the shares are no longer subject to a CDSC and the conversion is consistent with D.A. Davidson’s policies and procedures
· D.A. Davidson has the authority to allow the purchase of Class A shares at net asset value for (1) rollovers to IRAs from investments held in American Funds Recordkeeper Direct and PlanPremier retirement plan recordkeeping programs, (2) rollovers to IRAs from 403(b) plans with Capital Bank and Trust Company as custodian, or (3) IRA purchases so long as the proceeds are from the sale of shares from an American Funds Recordkeeper Direct retirement plan, PlanPremier retirement plan or 403(b) plan with Capital Bank and Trust Company as custodian and are used to make a purchase within 60 days of the redemption, if the shares held are ineligible to be rolled over to an IRA
CDSC Waivers on Classes A and C shares available at D.A. Davidson
• Death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching age 72 as described in the fund’s prospectus
· Shares acquired through a right of reinstatement
Front-end sales charge discounts available at D.A. Davidson: breakpoints, rights of accumulation and/or letters of intent
· Breakpoints as described in this prospectus
43 American Funds U.S. Government Money Market Fund / Prospectus
· Rights of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at D.A. Davidson. Eligible fund family assets not held at D.A. Davidson may be included in the calculation of rights of accumulation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at D.A. Davidson may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets
Edward D. Jones & Co., L.P. (“Edward Jones”)
Policies Regarding Transactions Through Edward Jones
The following information has been provided by Edward Jones:
Effective on or after January 1, 2021, the following information supersedes prior information with respect to transactions and positions held in fund shares through an Edward Jones system. Clients of Edward Jones (also referred to as “shareholders”) purchasing fund shares on the Edward Jones commission and fee-based platforms are eligible only for the following sales charge discounts (also referred to as “breakpoints”) and waivers, which can differ from discounts and waivers described elsewhere in the mutual fund prospectus or statement of additional information ("SAI") or through another broker-dealer. In all instances, it is the shareholder's responsibility to inform Edward Jones at the time of purchase of any relationship, holdings of the American Funds, or other facts qualifying the purchaser for discounts or waivers. Edward Jones can ask for documentation of such circumstance. Shareholders should contact Edward Jones if they have questions regarding their eligibility for these discounts and waivers.
| Breakpoints |
· Breakpoint pricing, otherwise known as volume pricing, at dollar thresholds as described in the prospectus
Rights of Accumulation (“ROA”)
· The applicable sales charge on a purchase of Class A shares is determined by taking into account all share classes (except any direct purchase money market funds and assets held in group retirement plans) of the American Funds held by the shareholder or in an account grouped by Edward Jones with other accounts for the purpose of providing certain pricing considerations (“pricing groups”). If grouping assets as a shareholder, this includes all share classes held on the Edward Jones platform and/or held on another platform. The inclusion of eligible fund family assets in the ROA calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation
· The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level
· ROA is determined by calculating the higher of cost minus redemptions or market value (current shares x NAV)
Letter of Intent (“LOI”)
· Through a LOI, shareholders can receive the sales charge and breakpoint discounts for purchases shareholders intend to make over a 13-month period from the date Edward Jones receives the LOI. The LOI is determined by calculating the higher of cost or market
American Funds U.S. Government Money Market Fund / Prospectus 44
value of qualifying holdings at LOI initiation in combination with the value that the shareholder intends to buy over a 13-month period to calculate the front-end sales charge and any breakpoint discounts. Each purchase the shareholder makes during that 13-month period will receive the sales charge and breakpoint discount that applies to the total amount. The inclusion of eligible fund family assets in the LOI calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation. Purchases made before the LOI is received by Edward Jones are not adjusted under the LOI and will not reduce the sales charge previously paid. Sales charges will be adjusted if LOI is not met
· If the employer maintaining a SEP IRA plan and/or SIMPLE IRA plan has elected to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping, LOIs will also be at the plan-level and may only be established by the employer
Sales Charge Waivers
Sales charges are waived for the following shareholders and in the following situations:
· Associates of Edward Jones and its affiliates and their family members who are in the same pricing group (as determined by Edward Jones under its policies and procedures) as the associate. This waiver will continue for the remainder of the associate's life if the associate retires from Edward Jones in good-standing and remains in good standing pursuant to Edward Jones' policies and procedures
· Shares purchased in an Edward Jones fee-based program
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment
· Shares purchased from the proceeds of redeemed shares of the same fund family so long as the following conditions are met: 1) the proceeds are from the sale of shares within 60 days of the purchase, and 2) the sale and purchase are made in the same share class and the same account or the purchase is made in an individual retirement account with proceeds from liquidations in a non-retirement account
· Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the discretion of Edward Jones. Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sales charge as disclosed in the prospectus
· Exchanges from Class C shares to Class A shares of the same fund, generally, in the 84th month following the anniversary of the purchase date or earlier at the discretion of Edward Jones
· Purchases of Class 529-A shares through a rollover from another 529 plan
· Purchases of Class 529 shares made for recontribution of refunded amounts
Contingent Deferred Sales Charge (“CDSC”) Waivers
If the shareholder purchases shares that are subject to a CDSC and those shares are redeemed before the CDSC is expired, the shareholder is responsible to pay the CDSC except in the following conditions:
· The death or disability of the shareholder, or account beneficiary for Class 529 shares
· Systematic withdrawals with up to 10% per year of the account value
45 American Funds U.S. Government Money Market Fund / Prospectus
· Return of excess contributions from an Individual Retirement Account (IRA)
· Shares sold as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations
· Shares sold to pay Edward Jones fees or costs in such cases where the transaction is initiated by Edward Jones
· Shares exchanged in an Edward Jones fee-based program
· Shares acquired through NAV reinstatement
· Shares redeemed at the discretion of Edward Jones for Minimum Balances, as described below
Other Important Information Regarding Transactions Through Edward Jones
Minimum Purchase Amounts
· Initial purchase minimum: $250
· Subsequent purchase minimum: none
Minimum Balances
· Edward Jones has the right to redeem at its discretion fund holdings with a balance of $250 or less. The following are examples of accounts that are not included in this policy:
— A fee-based account held on an Edward Jones platform
— A 529 account held on an Edward Jones platform
— An account with an active systematic investment plan or LOI
Exchanging Share Classes
· At any time it deems necessary, Edward Jones has the authority to exchange at NAV a shareholder's holdings in a fund to Class A shares, or Class R-4 shares for retirement plans with at least $1 million, so long as the shareholder is eligible to purchase the Class A or R-4 shares pursuant to the prospectus. Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable. Any future purchases are subject to the applicable sale charge as disclosed in the prospectus
529 Plan Account Maintenance Fees
· For 529 Plan accounts held in omnibus by Edward Jones, the annual account maintenance fees are waived
Class A Sales Charge Waivers Available Through Farmers Financial Solutions
Farmers Financial Solutions has the authority to either (1) rollover shares from an employer sponsored retirement plan to Class A shares in an Individual Retirement Account (IRA) at net asset value or (2) allow the purchase of Class A shares at net asset value, so long as the proceeds are from the sale of shares from an employer sponsored retirement plan and are used to make a purchase within 60 days of the redemption, if the shares held are ineligible to be rolled over to an IRA.
Janney Montgomery Scott LLC (“Janney”)
Effective May 1, 2020, if you purchase fund shares through a Janney brokerage account, you will be eligible for the following load waivers (front-end sales charge waivers and contingent deferred sales charge (“CDSC”), or back-end sales charge, waivers) and
American Funds U.S. Government Money Market Fund / Prospectus 46
discounts, which may differ from those disclosed elsewhere in this fund’s Prospectus or SAI.
Front-end sales charge* waivers on Class A shares available at Janney
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family)
· Shares purchased by employees and registered representatives of Janney or its affiliates and their family members as designated by Janney
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within ninety (90) days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (i.e., right of reinstatement)
· Shares acquired through a right of reinstatement
· Class C shares that are no longer subject to a contingent deferred sales charge and are converted to Class A shares of the same fund pursuant to Janney’s policies and procedures
CDSC waivers on Class A and C shares available at Janney
· Shares sold upon the death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s Prospectus
· Shares purchased in connection with a return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and other retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s Prospectus
· Shares sold to pay Janney fees but only if the transaction is initiated by Janney
· Shares acquired through a right of reinstatement
· Shares exchanged into the same share class of a different fund unless otherwise provided in the Prospectus
Front-end sales charge* discounts available at Janney: breakpoints, rights of accumulation, and/or letters of intent
· Breakpoints as described in the fund’s Prospectus
· Rights of accumulation (“ROA”), which entitle shareholders to breakpoint discounts, will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Janney. Eligible fund family assets not held at Janney may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at Janney Montgomery Scott may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets
*Also referred to as an “initial sales charge.”
47 American Funds U.S. Government Money Market Fund / Prospectus
JP Morgan Securities LLC
Investors purchasing through JP Morgan Securities LLC may invest in Class 529-A shares at net asset value.
Merrill Lynch, Pierce, Fenner & Smith (“Merrill Lynch”)
Shareholders purchasing fund shares through a Merrill Lynch platform or account are eligible only for the following sales charge waivers (front-end sales charge waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this fund’s prospectus or SAI.
Front-end sales charge waivers on Class A shares available at Merrill Lynch
· Employer-sponsored retirement, deferred compensation and employee benefit plans (including health savings accounts) and trusts used to fund those plans, provided that the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. Except as provided below, Class A shares are not currently available to new plans described in this waiver. Plans that invested in Class A shares of any of the funds without any sales charge before April 1, 2004, and that continue to meet the eligibility requirements in effect as of that date for purchasing Class A shares at net asset value, may continue to purchase American Funds Class A shares without any initial or contingent deferred sales charge
· Shares purchased by or through a 529 Plan. Class A shares are not currently available to the plans described in this waiver
· Shares purchased through a Merrill Lynch affiliated investment advisory program. Class A shares are not currently available in the programs described in this waiver
· Shares purchased by third-party investment advisors on behalf of their advisory clients through Merrill Lynch’s platform. Class A shares are not currently available in the accounts described in this waiver
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family)
· Shares exchanged from Class C (i.e. level-load) shares of the same fund pursuant to Merrill Lynch’s policies relating to sales load discounts and waivers
· Employees and registered representatives of Merrill Lynch or its affiliates and their family members
· Directors or Trustees of the fund, and employees of the fund’s investment adviser or any of its affiliates, as described in this prospectus
· Eligible shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as rights of reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill Lynch’s account maintenance fees are not eligible for reinstatement
CDSC waivers on Classes A and C shares available at Merrill Lynch
· Death or disability of the shareholder
American Funds U.S. Government Money Market Fund / Prospectus 48
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts pursuant to the Internal Revenue Code
· Shares sold to pay Merrill Lynch fees but only if the transaction is initiated by Merrill Lynch
· Shares acquired through a right of reinstatement
· Shares held in retirement brokerage accounts, that are exchanged for a lower cost share class due to transfer to certain fee based accounts or platforms (applicable to Class A and C shares only)
· Shares received through an exchange due to the holdings moving from a Merrill Lynch affiliated investment advisory program to a Merrill Lynch brokerage (non-advisory) account pursuant to Merrill Lynch’s policies relating to sales load discounts and waivers
Front-end sales charge discounts available at Merrill Lynch: breakpoints, rights of accumulation and letters of intent
· Breakpoints as described in this prospectus
· Rights of Accumulation (ROA) which entitle shareholders to breakpoint discounts as described in the fund’s prospectus will be automatically calculated based on the aggregated holding of fund family assets held by accounts (including 529 program holdings, where applicable) within the purchaser’s household at Merrill Lynch. Eligible fund family assets not held at Merrill Lynch may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets
· Letters of Intent which allow for breakpoint discounts based on anticipated purchases within a fund family, through Merrill Lynch, over a 13-month period of time (if applicable)
CollegeAmerica accounts
Accounts established through Merrill Lynch, Pierce, Fenner & Smith
If you establish or hold your CollegeAmerica account on the Merrill Lynch omnibus platform, the features and policies related to Class 529-A and Class 529-C sales charges (including contingent deferred sales charges), Class 529-A sales charge waiver eligibility, and Class 529-C conversion period will be different than referenced in this document.
Importantly, if you establish or hold your CollegeAmerica account on the Merrill Lynch omnibus platform, then you are eligible for Class 529-A shares at net asset value if your CollegeAmerica 529 plan assets with Merrill Lynch are $250,000 or more, you participate through an approved corporate 529 plan, or you qualify for Merrill Lynch Investment Advisory Relationship-Based Pricing (discussed below). If your 529 plan assets are less than $250,000 you are generally eligible to purchase Class 529-C shares. Among other things, Class 529-C shares generally will be automatically converted to Class 529-A shares (not subject to an initial sales charge) after four years from their respective dates of purchase.
Merrill Lynch Investment Advisory Relationship-Based Pricing
An account will be automatically eligible to purchase Class 529-A at net asset value regardless of the assets in the CollegeAmerica account if:
(1) at the time of purchase, the account is linked to a client household relationship in one or more of the Merrill Lynch investment advisory programs listed below; and
49 American Funds U.S. Government Money Market Fund / Prospectus
(2) at the time of purchase the client household relationship has combined assets held in any account through Merrill Lynch (excluding insurance, annuities, 401k assets, assets in defined benefit plan accounts and in BlackRock program accounts) that are equal to or greater than $250,000.
The following is a list of Merrill Lynch investment advisory programs that are included when determining eligibility: Merrill Lynch Investment Advisory Program, Managed Account Service (MAS), Strategic Portfolio Advisor Service (SPA), Merrill Guided Investment advisor programs (i.e., Merrill Guided Investing, Merrill Guided Investing with Advisor and Merrill Edge Advisory Account programs), Institutional Investment Consulting (IIC), and any future Merrill Lynch sponsored and managed investment advisory programs.
The $250,000 asset level is used to determine initial eligibility and is not a factor for continued participation in this relationship-based pricing program after the date of first qualifying. If a participant’s enrollment in any of the above investment advisory programs is terminated (whether by the participant or by Merrill Lynch), the account will no longer be eligible for this benefit.
Merrill Lynch reserves the right to terminate this relationship-based pricing program at any time with prior notice to participants.
Rollover assets from another 529 plan and refunded qualified higher education expenses may be invested in Class 529-A shares at net asset value. This policy applies to accounts on the Merrill Lynch platform and accounts held by the fund’s transfer agent.
Please contact your Merrill Lynch advisor with any questions.
Morgan Stanley Wealth Management
(“Morgan Stanley”)
Morgan Stanley Class A share front-end sales charge waiver
Morgan Stanley clients purchasing or converting to Class A shares of the fund through Morgan Stanley transactional brokerage accounts are entitled to a waiver of the front-end load in the following additional circumstances:
· Morgan Stanley employee and employee-related accounts according to Morgan Stanley’s account linking rules
· Shares purchased through reinvestment of dividends and capital gains distributions when purchasing shares of the same fund
· Class C (level load) share positions that are no longer subject to a contingent deferred sales charge and are converted to a Class A share in the same fund pursuant to Morgan Stanley’s share class conversion program
· Effective June 1, 2020, Morgan Stanley, on your behalf, can convert Class F-1 shares to Class A shares without a sales charge if they were initially transferred to the transactional brokerage account or converted from Class C shares
· Shares purchased from the proceeds of redemptions within the same fund family under a Rights of Reinstatement provision, provided the repurchase occurs within 90 days following the redemption, the redemption and purchase occur in the same account, and redeemed shares were subject to a front-end or deferred sales load
Effective June 30, 2020, Morgan Stanley clients purchasing or converting to Class 529-A shares of the fund through Morgan Stanley transactional brokerage accounts are entitled to a waiver of the front-end load in the following additional circumstances:
American Funds U.S. Government Money Market Fund / Prospectus 50
· Shares purchased through a rollover from another 529 plan
· Recontribution(s) of a refunded qualified higher education expense
Unless specifically described above, no other front-end load waivers are available to mutual fund purchases by Morgan Stanley clients.
Morgan Stanley Class R-4 share employer-sponsored retirement plan eligibility
Employer-sponsored retirement plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans and defined benefit plans). For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, SIMPLE IRAs, SAR-SEPs or Keogh plans.
Northwestern Mutual Investment Services, LLC (“NMIS”)
Rights of accumulation on SIMPLE IRAs held at NMIS
Effective March 31, 2022, for SIMPLE IRA plans where the plan is held on the SIMPLE IRA platform at NMIS through its clearing firm, Pershing LLC, each linked participant account will be aggregated at either the plan level or the individual level for rights of accumulation (ROA), depending on which aggregation method results in a greater breakpoint discount on front-end sales charges for the participant.
Class A and C share purchases in owner-only 401(k) plans held at NMIS
For 401(k) plans held at NMIS through its clearing firm, Pershing LLC, that cover only owners and their spouses and are not subject to ERISA, participants may purchase Class A shares with the applicable front-end sales charge or Class C shares with the applicable contingent deferred sales charge, in accordance with NMIS’s share class policies applicable to such plans.
Oppenheimer & Co., Inc. (“OPCO”)
Effective June 1, 2020, shareholders purchasing fund shares through an OPCO platform or account are eligible only for the following load waivers (front-end sales charge waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this fund’s prospectus or SAI.
Front-end sales load waivers on Class A shares available at OPCO
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund (but not any other fund within the fund family)
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales load (known as Rights of Restatement)
· A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures of OPCO
· Employees and registered representatives of OPCO or its affiliates and their family members
· Directors or trustees of the fund, and employees of the fund’s investment adviser or any of its affiliates, as described in this prospectus
51 American Funds U.S. Government Money Market Fund / Prospectus
CDSC waivers on Class A and C shares available at OPCO
· Death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the prospectus
· Shares sold to pay OPCO fees but only if the transaction is initiated by OPCO
· Shares acquired through a right of reinstatement
Front-end load discounts available at OPCO: breakpoints, rights of accumulation and letters of intent
· Breakpoints as described in this prospectus
· Rights of accumulation (ROA) which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at OPCO. Eligible fund family assets not held at OPCO may be included in the ROA calculation only if the shareholder notifies his or her financial advisor about such assets
Raymond James & Associates, Inc., Raymond James Financial Services, Inc., and each entity’s affiliates (“Raymond James”) Class A share front-end sales charge waiver
Effective March 1, 2019, shareholders purchasing fund shares through a Raymond James platform or account, or through an introducing broker-dealer or independent registered investment adviser for which Raymond James provides trade execution, clearance, and/or custody services, will be eligible only for the following sales charge waivers (front-end sales charge waivers and contingent deferred, or back-end, sales charge waivers) and discounts, which may differ from those disclosed elsewhere in this fund’s prospectus or SAI.
Front-end sales charge waivers on Class A shares available at Raymond James
· Shares purchased within the same fund family through a systematic reinvestment of capital gains and dividend distributions
· Employees and registered representatives of Raymond James or its affiliates and their family members as designated by Raymond James
· Shares purchased from the proceeds of redemptions within the same fund family, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same account, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as Rights of Reinstatement)
· A shareholder in the Fund’s Class C shares will have their shares converted at net asset value to Class A shares (or the appropriate share class) of the Fund if the shares are no longer subject to a CDSC and the conversion is in line with the policies and procedures of Raymond James
American Funds U.S. Government Money Market Fund / Prospectus 52
CDSC waivers on Classes A and C shares available at Raymond James
· Death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
· Return of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s prospectus
· Shares sold to pay Raymond James fees but only if the transaction is initiated by Raymond James
· Shares acquired through a right of reinstatement
Front-end sales charge discounts available at Raymond James: breakpoints, rights of accumulation and/or letters of intent
· Breakpoints as described in this prospectus
· Rights of accumulation which entitle shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Raymond James. Eligible fund family assets not held at Raymond James may be included in the calculation of rights of accumulation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent which allow for breakpoint discounts based on anticipated purchases within a fund family, over a 13-month time period. Eligible fund family assets not held at Raymond James may be included in the calculation of letters of intent only if the shareholder notifies his or her financial advisor about such assets
Robert W. Baird & Co. Incorporated (“Baird”)
Shareholders purchasing fund shares through a Baird platform or account will only be eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the SAI.
Front-end sales charge waivers on Class A shares available at Baird
· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same fund
· Shares purchased by employees and registered representatives of Baird or its affiliate and their family members as designated by Baird
· Shares purchased from the proceeds of redemptions from another fund, provided (1) the repurchase occurs within 90 days following the redemption, (2) the redemption and purchase occur in the same accounts, and (3) redeemed shares were subject to a front-end or deferred sales charge (known as rights of reinstatement)
· A shareholder in the fund’s Class C shares will have their shares converted at net asset value to Class A shares of the fund if the shares are no longer subject to CDSC and the conversion is in line with the policies and procedures of Baird
· Charitable accounts in a transactional brokerage account at Baird
CDSC waivers on Class A and C shares available at Baird
· Shares sold due to death or disability of the shareholder
· Shares sold as part of a systematic withdrawal plan as described in the fund’s prospectus
53 American Funds U.S. Government Money Market Fund / Prospectus
· Shares bought due to returns of excess contributions from an IRA Account
· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable IRS regulations as described in the fund’s prospectus
· Shares sold to pay Baird fees but only if the transaction is initiated by Baird
· Shares acquired through a right of reinstatement
Front-end sales charge discounts available at Baird: breakpoints and/or rights of accumulation
· Breakpoints as described in this prospectus
· Rights of accumulation which entitles shareholders to breakpoint discounts will be automatically calculated based on the aggregated holding of fund family assets held by accounts within the purchaser’s household at Baird. Eligible fund family assets not held at Baird may be included in the rights of accumulation calculation only if the shareholder notifies his or her financial advisor about such assets
· Letters of intent (LOI) allow for breakpoint discounts based on anticipated purchases of fund family assets through Baird, over a 13-month period of time
Stifel, Nicolaus & Company, Incorporated (“Stifel”)
Effective July 1, 2020, shareholders purchasing fund shares through a Stifel platform or account or who own shares for which Stifel or an affiliate is the broker-dealer of record are eligible for the following additional sales charge waiver
Front-end sales load waiver on Class A shares
· Class C shares that have been held for more than seven (7) years will be converted to Class A shares of the same fund pursuant to Stifel's policies and procedures
All other sales charge waivers and reductions described elsewhere in the fund’s prospectus or SAI still apply. For accounts held by the fund’s transfer agent, the fund’s standard C share conversion schedule of 8 years applies.
U.S. Bancorp Investments, Inc.
Class C to Class A share conversions at U.S. Bancorp Investments, Inc.
Effective November 30, 2020, a shareholder in the fund’s Class C shares will have their shares systematically converted at net asset value to Class A shares of the same fund in the month of the six-year anniversary of the purchase date, if the shares are no longer subject to a CDSC and the conversion is consistent with U.S. Bancorp Investments, Inc. share class exchange policy. This policy does not apply to accounts held with the fund’s transfer agent. Accounts held with the fund’s transfer agent will convert pursuant to the fund’s policy described in this prospectus.
American Funds U.S. Government Money Market Fund / Prospectus 54
| For shareholder services and 24-hour information |
American
Funds Service Company capitalgroup.com |
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| For retirement plan services | Call your employer or plan administrator | ||
| For 529 plans | American
Funds Service Company (800) 421-4225, ext. 529 |
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| For ABLE plans | American
Funds Service Company (800) 421-4225, ext. 79 |
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Multiple translations This prospectus may be translated into other languages. If there is any inconsistency or ambiguity as to the meaning of any word or phrase in a translation, the English text will prevail. Liability is not limited as a result of any material misstatement or omission introduced in the translation.
Annual/Semi-annual report to shareholders The shareholder reports contain additional information about the fund, including financial statements, investment results, portfolio holdings, a discussion of market conditions and the fund’s investment strategies, and the independent registered public accounting firm’s report (in the annual report).
Program descriptions The CollegeAmerica® 529 program description contains additional information about the policies and services related to 529 plan accounts. The ABLEAmerica® program description contains additional information about the policies and services related to 529A ABLE plan accounts.
Statement of additional information (SAI) and codes of ethics The current SAI, as amended from time to time, contains more detailed information about the fund, including the fund’s financial statements, and is incorporated by reference into this prospectus. This means that the current SAI, for legal purposes, is part of this prospectus. The codes of ethics describe the personal investing policies adopted by the fund, the fund’s investment adviser and its affiliated companies.
The codes of ethics and current SAI are on file with the U.S. Securities and Exchange Commission (SEC). These and other related materials about the fund are available for review on the EDGAR database on the SEC’s website at sec.gov or, after payment of a duplicating fee, via email request to [email protected]. The codes of ethics, current SAI and shareholder reports are also available, free of charge, on our website, capitalgroup.com.
E-delivery and household mailings Each year you are automatically sent an updated summary prospectus and annual and semi-annual reports for the fund. You may also occasionally receive proxy statements for the fund. In order to reduce the volume of mail you receive, when possible, only one copy of these documents will be sent to shareholders who are part of the same family and share the same household address. You may elect to receive these documents electronically in lieu of paper form by enrolling in e-delivery on our website, capitalgroup.com.
If you would like to opt out of household-based mailings or receive a complimentary copy of the current SAI, codes of ethics, annual/semi-annual report to shareholders or applicable program description, please call American Funds Service Company at (800) 421-4225 or write to the secretary of the fund at 333 South Hope Street, Los Angeles, California 90071-1406.
Securities Investor Protection Corporation (SIPC) Shareholders may obtain information about SIPC® on its website at sipc.org or by calling (202) 371-8300.
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MFGEPRX-059-1222P
Litho in USA CGD/ALD/10044 Investment Company File No. 811-22277 |
THE FUND MAKES AVAILABLE A SPANISH TRANSLATION OF THE ABOVE PROSPECTUS IN CONNECTION WITH THE PUBLIC OFFERING AND SALE OF ITS SHARES. THE ENGLISH LANGUAGE PROSPECTUS ABOVE IS A FAIR AND ACCURATE REPRESENTATION OF THE SPANISH EQUIVALENT.
| /s/ | STEVEN I. KOSZALKA |
| STEVEN I. KOSZALKA | |
| SECRETARY |