Puerto Rico Residents Tax-Free Fund, Inc. DEF 14A Filing

TL;DR

PR Residents Tax-Free Fund filed DEF 14A. All good.

AI Summary

Puerto Rico Residents Tax-Free Fund, Inc. (CIK 0001843995) filed a DEF 14A on August 19, 2025. The filing pertains to the company formerly known as Puerto Rico Investors Tax-Free Fund, Inc., which changed its name on February 2, 2021. The company is incorporated in NY and has a business address in San Juan, PR.

Why It Matters

This filing provides important disclosure information for investors in the Puerto Rico Residents Tax-Free Fund, Inc., detailing corporate governance and financial matters.

Risk Assessment

Risk Level: low — This is a routine annual disclosure filing (DEF 14A) and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• Puerto Rico Residents Tax-Free Fund, Inc. (company) — Filer
• Puerto Rico Investors Tax-Free Fund, Inc. (company) — Former company name
• 0001843995 (company) — Central Index Key
• 20210202 (date) — Date of name change
• 20250819 (date) — Filing date

FAQ

Filing Documents

• p25-1850def14a.htm (DEF 14A) — 223KB
• image_001.jpg (GRAPHIC) — 4KB
• image_002.jpg (GRAPHIC) — 3KB
• image_006.jpg (GRAPHIC) — 2KB
• image_003.jpg (GRAPHIC) — 4KB
• image_004.jpg (GRAPHIC) — 4KB
• image_006.gif (GRAPHIC) — 1KB
• image_005.jpg (GRAPHIC) — 4KB
• image_007.jpg (GRAPHIC) — 2KB
• 0000902664-25-003766.txt ( ) — 260KB

From the Filing

DEF 14A 1 p25-1850def14a.htm DEFINITIVE PROXY STATEMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-2 Tax Free Fund for Puerto Rico Residents, Inc. Puerto Rico Residents Tax-Free Fund, Inc. Puerto Rico Residents Tax-Free Fund VI, Inc. (Name of Registrant as Specified In Its Charter) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee amount computed on table in exhibit as required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. 1 Tax Free Fund for Puerto Rico Residents, Inc. Puerto Rico Residents Tax-Free Fund, Inc. Puerto Rico Residents Tax-Free Fund VI, Inc. Buchanan Office Center 40 Carr. 165 Suite 201 Guaynabo, PR 00968-8022 August 19, 2025 Dear Shareholder: A Special Meeting of Shareholders (the “Special Meeting”) of each of Tax Free Fund for Puerto Rico Residents, Inc. (“TFF I”), Puerto Rico Residents Tax-Free Fund, Inc. (“PRRTFF I”) and Puerto Rico Residents Tax-Free Fund VI, Inc. (“PRRTFF VI,” and together with TFF I and PRRTFF I, each a “Fund” and collectively, the “Funds”) is scheduled to be held as a hybrid meeting in person at the law offices of Ferraiuoli LLC at 250 Muñoz Rivera Avenue, 6th Floor, San Juan, PR 00918, and virtually via a live webcast on September 26, 2025, at 10:00AM (Eastern Time). Shareholders will be able to vote and pose questions regardless of how they may choose to attend the Special Meeting by following the instructions provided in the Joint Proxy Statement and enclosed proxy card(s). To attend the Special Meeting in person, you must bring a picture ID and proof of shareholder of record as of the Record Date or, if you are a beneficial owner (your shares are held in an account at a bank, broker, dealer or other nominee), hold a legal proxy from the institution that holds your shares indicating that you were the beneficial your shares indicating that you were the beneficial owner as of the Record Date. Additionally, to attend the Special Meeting virtually, you must pre-register for the Special Meeting no later than September 25, 2025 at 10:00AM (Eastern Time) by visiting https://viewproxy.com/PRFundsSGM/broadridgevsm/ and entering your control number as shown in your proxy card or the voting instruction form. Once you have pre-registered, you will receive a confirmation e-mail with information on how to virtually attend and participate at the Special Meeting. At this meeting, you will be asked to consider and vote for the Fund to (1) cease operations as an investment company (“Proposal 1”) and (2) following a sale of substantially all of the Fund’s securities, pay a dividend with the proceeds of such sale to shareholders (“Proposal 2” and together with Proposal 1, the “Proposals”). Starting in 2021, Ocean Capital LLC (“Ocean Capital”) and certain related individuals launched campaigns to nominate new directors at the Funds and affiliates of the Funds within the same fund complex where Ocean Capital advocated, in part, for improved governance at the Funds. Despite successfully receiving the requisite votes to elect Ocean Capital’s nominees at the 2021 (PRRTFF I and PRRTFF VI only), 2022, 2023, and 2024 annual meetings of shareholders of the Funds, the Funds did not seat Ocean Capital’s nominees and, instead, commenced an action against Ocean Capital and certain other defendants, captioned, Tax-Free Fixed Income Fund for Puerto Rico Residents, Inc., et al. v. Ocean Capital LLC, et al. , Case No. 3:22-cv-1101, alleging among other things, securities law violations by the defendants. Ocean Capital counterclaimed against the Funds, in part, so as to have its nominees seated on the Boards of Directors of the Funds in accordance with proper standards of governance. On May 12, 2025, the United States Court of Appeals for the First Circuit affirmed the dismissal of the Funds’ claims (the “First Circuit Ruling”). As a result of the First Circuit Ruling, the Board of Directors of each of PRRTFF I and PRRTFF VI instructed the inspectors of election for each of the 2021, 2022, 2023, and 2024 annual meetings of shareholders of these Funds, and the Board of Directors of TFF I instructed the inspectors of election for each of the 2022, 2023, and 2024 annual meetings of shareholders of TFF I, to certify the results of such elections. On May 20, 2025, the inspectors of el

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View this DEF 14A filing on SEC EDGAR