Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 127

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 127
---
billion

of

average

net

assets,

0.430%

of

the

next

$8.5

billion

of

average

net

assets

and

0.420%

of

any

excess

thereafter.

#### 3.

#### Transactions

#### with

#### Affiliates
(continued)

Putnam

Master

Intermediate

Income

Trust

Notes

to

### Financial
Statements

49

franklintempleton.com

Annual

Report

#### c.

#### Transfer

#### Agent

#### Fees
PSERV,

an

affiliate

of Advisers,

provides

investor

servicing

agent

functions

to

the

Fund.

PSERV

was

paid

a

monthly

fee

for

investor

servicing

at

an

annual

rate

of

0.05%

of

the

Fund’s

average

daily

net

assets.

The

amounts

incurred

for

investor

servicing

agent

functions

during

the

reporting

period

are

included

in Transfer

agent fees

in

the

Statement

of

Operations.

On

May

8,

2025,

the

Board

approved

Computershare

Inc.

to

serve

as

transfer

agent

for

the

Fund.

Effective

October

13,

2025,

subsequent

to

the

reporting

period,

Computershare

Inc.

became

the

transfer

agent

for

the

Fund

and

PSERV

is

no

longer

an

affiliated

person

of

the

Fund,

under

the

1940

Act.

The

principal

### business
office

of

Computershare

is

located

at

P.O.

Box

43006,

Providence,

Rhode

Island

02940-3078.

#### d.

#### Trustee

#### Fees
The

Fund

has

adopted

a

Trustee

Fee

Deferral

Plan

(the

Deferral

Plan)

which

allows

the

Trustees,

who

were

serving

prior

to

April

25,

2025, to

defer

the

receipt

of

all

or

a

portion

of

Trustees'

fees

payable

from

July

1,

1995

through

December

31,

202