Renaissance discloses resolution of Medallion barrier-option tax audits

Renaissance's March 31, 2022 brochure reported that IRS audits concerning Medallion fund barrier-option transactions during 2005–2015 were resolved on September 2, 2021. The brochure explicitly states that neither Renaissance nor any of its funds made or was required to make a payment in connection with that resolution. Tax liabilities described in the passage belonged to affected investors; they are not firm or fund expenses.