# EDGAR Filing Document

**Accession Number:** 0000773757
**File Stem:** 0001193125-23-050139
**Filing Date:** 2023-2
**Character Count:** 52955
**Document Hash:** d8ad6a6b753501d4f97062f16de946cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-050139.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001193125-23-050139

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**EFFECTIVENESS DATE**: 20230227

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLUMBIA FUNDS SERIES TRUST I
- **CENTRAL INDEX KEY:** 0000773757
- **IRS NUMBER:** 363376651
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-99356
- **FILM NUMBER:** 23671218

**BUSINESS ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 800-345-6611

**MAIL ADDRESS:**
- **STREET 1:** 290 CONGRESS STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COLUMBIA FUNDS TRUST IX
- **DATE OF NAME CHANGE:** 20031107

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LIBERTY STEIN ROE FUNDS MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19991025

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STEINROE MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Columbia Strategic New York Municipal Income Fund (Series ID: S000012093)

| Class ID   | Class Name                                                              | Ticker Symbol   |
|:---|:---|:---|
| C000032969 | Columbia Strategic New York Municipal Income Fund Class A               | COLNX           |
| C000032971 | Columbia Strategic New York Municipal Income Fund Class C               | CNYCX           |
| C000106577 | Columbia Strategic New York Municipal Income Fund Institutional Class   | CNYZX           |
| C000122676 | Columbia Strategic New York Municipal Income Fund Institutional 2 Class | CNYRX           |
| C000126473 | Columbia Strategic New York Municipal Income Fund Advisor Class         | CNYEX           |
| C000184733 | Columbia Strategic New York Municipal Income Fund Institutional 3 Class | CNTYX           |

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#### Summary Prospectus
March 1, 2023<br>

Columbia Strategic New York Municipal Income Fund

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

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| | |
|:---|:---|
| **Class** | &nbsp;&nbsp;&nbsp;&nbsp;**Ticker Symbol** |
| A | &nbsp;&nbsp;&nbsp;&nbsp;COLNX |
| Advisor (Class Adv) | &nbsp;&nbsp;&nbsp;&nbsp;CNYEX |
| C | &nbsp;&nbsp;&nbsp;&nbsp;CNYCX |
| Institutional (Class Inst) | &nbsp;&nbsp;&nbsp;&nbsp;CNYZX |
| Institutional 2 (Class Inst2) | &nbsp;&nbsp;&nbsp;&nbsp;CNYRX |
| Institutional 3 (Class Inst3) | &nbsp;&nbsp;&nbsp;&nbsp;CNTYX |

---

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, reports to shareholders, statement of additional information and other information about the Fund online at https://www.columbiathreadneedleus.com/resources/literature. If you hold your Fund shares through a financial intermediary (such as a broker-dealer or bank), you can get this information at no cost by contacting that financial intermediary. If you hold your Fund shares directly with the Fund, you can get this information at no cost by calling 800.345.6611 or by sending an email to serviceinquiries@columbiathreadneedle.com. This Summary Prospectus incorporates by reference the Fund's prospectus, dated March 1, 2023, and current Statement of Additional Information.

As with all mutual funds, the Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense.

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#### Investment Objective
Columbia Strategic New York Municipal Income Fund (the Fund) seeks total return, with a focus on income exempt from federal income tax and New York individual income tax and capital appreciation.

#### Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales charge discounts if you and members of your immediate family invest, or agree to invest in the future, at least $50,000 in certain classes of shares of eligible funds distributed by Columbia Management Investment Distributors, Inc. (the Distributor). More information is available about these and other sales charge discounts and waivers from your financial intermediary, and can be found in the *Choosing a Share Class* section beginning on page 29 of the Fund's prospectus, in *Appendix A* to the prospectus beginning on page A-1 and in Appendix S to the Statement of Additional Information (SAI) under *Sales Charge Waivers* beginning on page S-1.

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** | &nbsp;&nbsp;**Shareholder Fees (fees paid directly from your investment)** |
| | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Classes Adv, Inst,<br> Inst2 and Inst3** |
| &nbsp;&nbsp;Maximum sales charge (load) imposed on purchases (as a % of offering price) | &nbsp;&nbsp;3.00% |  |  |
| &nbsp;&nbsp;Maximum deferred sales charge (load) imposed on redemptions (as a % of the lower of the original purchase price or current net asset value) | &nbsp;&nbsp;0.75% <sup>(a)</sup> | &nbsp;&nbsp;&nbsp;1.00% <sup>(b)</sup> |  |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** | &nbsp;&nbsp;**Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)** |
| | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class Adv** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class Inst** | &nbsp;&nbsp;**Class Inst2** | &nbsp;&nbsp;**Class Inst3** |
| &nbsp;&nbsp;Management fees | &nbsp;&nbsp;&nbsp;&nbsp;0.47% | &nbsp;&nbsp;&nbsp;&nbsp;0.47% | &nbsp;&nbsp;&nbsp;&nbsp;0.47% | &nbsp;&nbsp;&nbsp;&nbsp;0.47% | &nbsp;&nbsp;&nbsp;&nbsp;0.47% | &nbsp;&nbsp;&nbsp;&nbsp;0.47% |
| &nbsp;&nbsp;Distribution and/or service (12b-1) fees | &nbsp;&nbsp;&nbsp;&nbsp;0.25% | &nbsp;&nbsp;&nbsp;&nbsp;0.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.70% | &nbsp;&nbsp;&nbsp;&nbsp;0.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Other expenses | &nbsp;&nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;&nbsp;0.15% | &nbsp;&nbsp;&nbsp;&nbsp;0.13% | &nbsp;&nbsp;&nbsp;&nbsp;0.08% |
| &nbsp;&nbsp;**Total annual Fund operating expenses<sup>(c)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;0.87% | &nbsp;&nbsp;&nbsp;&nbsp;0.62% | &nbsp;&nbsp;&nbsp;&nbsp;1.32% | &nbsp;&nbsp;&nbsp;&nbsp;0.62% | &nbsp;&nbsp;&nbsp;&nbsp;0.60% | &nbsp;&nbsp;&nbsp;&nbsp;0.55% |
| &nbsp;&nbsp;Less: Fee waivers and/or expense reimbursements<sup>(d)</sup> | &nbsp;&nbsp;(0.09%) | &nbsp;&nbsp;(0.09%) | &nbsp;&nbsp;(0.09%) | &nbsp;&nbsp;(0.09%) | &nbsp;&nbsp;(0.09%) | &nbsp;&nbsp;(0.09%) |
| &nbsp;&nbsp;**Total annual Fund operating expenses after fee waivers and/or expense reimbursements** | &nbsp;&nbsp;&nbsp;&nbsp;0.78% | &nbsp;&nbsp;&nbsp;&nbsp;0.53% | &nbsp;&nbsp;&nbsp;&nbsp;1.23% | &nbsp;&nbsp;&nbsp;&nbsp;0.53% | &nbsp;&nbsp;&nbsp;&nbsp;0.51% | &nbsp;&nbsp;&nbsp;&nbsp;0.46% |

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(a) This charge is imposed on
certain investments of $500,000 or more redeemed within 12 months after purchase, with certain limited exceptions.

(b) This charge applies to
redemptions within 12 months after purchase, with certain limited exceptions.

(c) "Total annual Fund
operating expenses" include acquired fund fees and expenses (expenses the Fund incurs indirectly through its investments in other investment companies) and may be higher than the ratio of expenses to average net assets shown in the *Financial Highlights* section of this prospectus because the ratio of expenses to average net assets does not include acquired fund fees and expenses.

(d) Columbia
Management Investment Advisers, LLC and certain of its affiliates have contractually agreed to waive fees and/or to reimburse expenses (excluding transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees
and expenses, and infrequent and/or unusual expenses) through February 29, 2024, unless sooner terminated at the sole discretion of the Fund's Board of Trustees. Under this agreement, the Fund's net operating expenses, subject to
applicable exclusions, will not exceed the annual rates of 0.78% for Class A, 0.53% for Class Adv, 1.23% for Class C, 0.53% for Class Inst, 0.51% for Class Inst2 and 0.46% for Class Inst3.

1 Columbia Strategic New York Municipal Income Fund

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#### Example
The following example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example illustrates the hypothetical expenses that you would incur over the time periods indicated, and assumes that:

■ you invest $10,000 in the
applicable class of Fund shares for the periods indicated,

■ your investment has a 5%
return each year, and

■ the
Fund's total annual operating expenses remain the same as shown in the *Annual Fund Operating Expenses* table above.

*Class C shares' 10-year cost examples below reflect the Class C Shares 8-Year Conversion Policy.* 

<br> Since the waivers and/or reimbursements shown in the *Annual Fund Operating Expenses* table above expire as indicated in the preceding table, they are only reflected in the 1 year example and the first year of the other examples. Although your actual costs may be higher or lower, based on the assumptions listed above, your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**1 year** | &nbsp;&nbsp;&nbsp;&nbsp;**3 years** | &nbsp;&nbsp;&nbsp;&nbsp;**5 years** | &nbsp;&nbsp;&nbsp;&nbsp;**10 years** |
| &nbsp;&nbsp;**Class A (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$377 | &nbsp;&nbsp;&nbsp;&nbsp;$561 | &nbsp;&nbsp;&nbsp;&nbsp;$759 | &nbsp;&nbsp;&nbsp;&nbsp;$1332 |
| &nbsp;&nbsp;**Class Adv (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$54 | &nbsp;&nbsp;&nbsp;&nbsp;$189 | &nbsp;&nbsp;&nbsp;&nbsp;$337 | &nbsp;&nbsp;&nbsp;&nbsp;$766 |
| &nbsp;&nbsp;**Class C (assuming redemption of all shares at the end of the period)** | &nbsp;&nbsp;&nbsp;&nbsp;$225 | &nbsp;&nbsp;&nbsp;&nbsp;$409 | &nbsp;&nbsp;&nbsp;&nbsp;$715 | &nbsp;&nbsp;&nbsp;&nbsp;$1459 |
| &nbsp;&nbsp;**Class C (assuming no redemption of shares)** | &nbsp;&nbsp;&nbsp;&nbsp;$125 | &nbsp;&nbsp;&nbsp;&nbsp;$409 | &nbsp;&nbsp;&nbsp;&nbsp;$715 | &nbsp;&nbsp;&nbsp;&nbsp;$1459 |
| &nbsp;&nbsp;**Class Inst (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$54 | &nbsp;&nbsp;&nbsp;&nbsp;$189 | &nbsp;&nbsp;&nbsp;&nbsp;$337 | &nbsp;&nbsp;&nbsp;&nbsp;$766 |
| &nbsp;&nbsp;**Class Inst2 (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$52 | &nbsp;&nbsp;&nbsp;&nbsp;$183 | &nbsp;&nbsp;&nbsp;&nbsp;$326 | &nbsp;&nbsp;&nbsp;&nbsp;$741 |
| &nbsp;&nbsp;**Class Inst3 (whether or not shares are redeemed)** | &nbsp;&nbsp;&nbsp;&nbsp;$47 | &nbsp;&nbsp;&nbsp;&nbsp;$167 | &nbsp;&nbsp;&nbsp;&nbsp;$298 | &nbsp;&nbsp;&nbsp;&nbsp;$681 |

---

#### Portfolio Turnover
The Fund may pay transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 22% of the average value of its portfolio.

#### Principal Investment Strategies
Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in municipal bonds that pay interest exempt from U.S. federal income tax (including the federal alternative minimum tax) and New York individual income tax. The Fund may invest in municipal debt instruments of any duration, maturity and credit quality, including below investment grade debt (commonly referred to as "high yield" investments or "junk" bonds). The Fund may invest up to 20% of its net assets in debt instruments that generate income subject to federal income tax, including the federal alternative minimum tax.

For purposes of the Fund's 80% investment policy, these bonds and other debt instruments include those issued by or on behalf of the State of New York and its political subdivisions, agencies, authorities and instrumentalities, as well as by or on behalf of other qualified issuers, including those of U.S. territories, commonwealths and possessions, such as Guam, Puerto Rico and the U.S. Virgin Islands. The Fund may also invest in securities of other open-end or closed-end investment companies, including exchange-traded funds and municipal bond money market funds, that invest primarily in the types of debt instruments in which the Fund may invest directly. Given the flexible investment approach of the Fund, its maturity, duration, credit quality and sector allocations may fluctuate.

The Fund may invest in debt instruments of any maturity and does not seek to maintain a particular dollar-weighted average maturity.

The Fund may also invest in zero-coupon bonds.

The Fund may invest in derivatives such as futures (including interest rate futures and other bond futures) for yield curve exposure, hedging and non-hedging purposes, and inverse floaters for the purpose of enhancing income.

The Fund is non-diversified, which means that it can invest a greater percentage of its assets in the securities of fewer issuers than can a diversified fund.

Columbia Strategic New York Municipal Income Fund 2

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#### Principal Risks
An investment in the Fund involves risks, including **Interest Rate Risk**, **Credit Risk**, **Market Risk**, **Municipal Securities Risk**, and **Changing Distribution Level Risk**, among others. Descriptions of these and other principal risks of investing in the Fund are provided below. *There is no assurance that the Fund will achieve its investment objective and you may lose money*. The value of the Fund's holdings may decline, and the Fund's net asset value (NAV) and share price may go down. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The significance of any specific risk to an investment in the Fund will vary over time depending on the composition of the Fund's portfolio, market conditions, and other factors. You should read all of the risk information below carefully, because any one or more of these risks may result in losses to the Fund.

#### Active Management Risk. Due to its active management, the Fund could underperform its benchmark index and/or other funds with similar investment objectives and/or strategies.
**Changing Distribution Level Risk. The Fund normally expects to receive income which may include interest, dividends and/or capital gains, depending upon its investments. The distribution amounts paid by the Fund will vary and generally depend on the amount of income the Fund earns (less expenses) on its portfolio holdings, and capital gains or losses it recognizes. A decline in the Fund's income or net capital gains arising from its investments may reduce its distribution level.**

**Closed-End Investment Company Risk. Closed-end investment companies frequently trade at a discount to their NAV, which may affect whether the Fund will realize gain or loss upon its sale of the closed-end investment company's shares. Closed-end investment companies may employ leverage, which also subjects the closed-end investment company to increased risks such as increased volatility.**

**Counterparty Risk. Counterparty risk is the risk that a counterparty to a transaction in a financial instrument held by the Fund or by a special purpose or structured vehicle invested in by the Fund may become insolvent or otherwise fail to perform its obligations. As a result, the Fund may obtain no or limited recovery of its investment, and any recovery may be significantly delayed.**

**Credit Risk. Credit risk is the risk that the value of debt instruments may decline if the issuer thereof defaults or otherwise becomes unable or unwilling, or is perceived to be unable or unwilling, to honor its financial obligations, such as making payments to the Fund when due. Debt instruments backed by an issuer's taxing authority may be subject to legal limits on the issuer's power to increase taxes or otherwise to raise revenue, or may be dependent on legislative appropriation or government aid. Certain debt instruments are backed only by revenues derived from a particular project or source, rather than by an issuer's taxing authority, and thus may have a greater risk of default. Credit rating agencies, such as S&P Global Ratings, Moody's Investors Service, Inc. (Moody's), Fitch Ratings, Inc. (Fitch), DBRS Morningstar (DBRS) and Kroll Bond Rating Agency, LLC (KBRA), assign credit ratings to certain debt instruments to indicate their credit risk. A rating downgrade by such agencies can negatively impact the value of such instruments. Lower-rated or unrated instruments held by the Fund may present increased credit risk as compared to higher-rated instruments. Non-investment grade debt instruments may be subject to greater price fluctuations and are more likely to experience a default than investment grade debt instruments and therefore may expose the Fund to increased credit risk. If the Fund purchases unrated instruments, or if the ratings of instruments held by the Fund are lowered after purchase, the Fund will depend on analysis of credit risk more heavily than usual.**

**Derivatives Risk. Derivatives may involve significant risks. Derivatives are financial instruments with a value in relation to, or derived from, the value of an underlying asset(s) or other reference, such as an index, rate or other economic indicator (each an underlying reference). Derivatives may include those that are privately placed or otherwise exempt from SEC registration, including certain Rule 144A eligible securities. Derivatives could result in Fund losses if the underlying reference does not perform as anticipated. Use of derivatives is a highly specialized activity that can involve investment techniques, risks, and tax planning different from those associated with more traditional investment instruments. The Fund's derivatives strategy may not be successful and use of certain derivatives could result in substantial, potentially unlimited, losses to the Fund regardless of the Fund's actual investment. A relatively small movement in the price, rate or other economic indicator associated with the underlying reference may result in substantial losses for the Fund. Derivatives may be more volatile than other types of investments. The value of derivatives may be influenced by a variety of factors, including national and international political and economic developments. Potential changes to the regulation of the derivatives markets may make derivatives more costly, may limit the market for derivatives, or may otherwise adversely affect the value or performance of derivatives. Derivatives can increase the Fund's risk exposure to underlying references and their attendant risks, such as credit risk, market risk and interest rate risk, while exposing the Fund to counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.**

3 Columbia Strategic New York Municipal Income Fund

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**Derivatives Risk – Futures Contracts Risk. A futures contract is an exchange-traded derivative transaction between two parties in which a buyer (holding the "long" position) agrees to pay a fixed price (or rate) at a specified future date for delivery of an underlying reference from a seller (holding the "short" position). The seller hopes that the market price on the delivery date is less than the agreed upon price, while the buyer hopes for the contrary. Certain futures contract markets are highly volatile, and futures contracts may be illiquid. Futures exchanges may limit fluctuations in futures contract prices by imposing a maximum permissible daily price movement. The Fund may be disadvantaged if it is prohibited from executing a trade outside the daily permissible price movement. At or prior to maturity of a futures contract, the Fund may enter into an offsetting contract and may incur a loss to the extent there has been adverse movement in futures contract prices. The liquidity of the futures markets depends on participants entering into offsetting transactions rather than making or taking delivery. To the extent participants make or take delivery, liquidity in the futures market could be reduced. Because of the low margin deposits normally required in futures trading, it is possible that the Fund may employ a high degree of leverage in the portfolio. As a result, a relatively small price movement in a futures contract may result in substantial losses to the Fund, exceeding the amount of the margin paid. For certain types of futures contracts, losses are potentially unlimited. Futures markets are highly volatile and the use of futures may increase the volatility of the Fund's NAV. Futures contracts can increase the Fund's risk exposure to underlying references and their attendant risks, such as credit risk, market risk, and interest rate risk, while also exposing the Fund to correlation risk, counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.**

**Derivatives Risk – Inverse Floaters Risk. Inverse variable or floating rate obligations, sometimes referred to as inverse floaters, are a type of over-the-counter derivative debt instrument with a variable or floating coupon rate that moves in the opposite direction of an underlying reference, typically short-term interest rates. While inverse floaters tend to provide more income than similar term and credit quality fixed-rate bonds, they also exhibit greater volatility in price movement, which could result in significant losses for the Fund. An inverse floater may have the effect of investment leverage to the extent that its coupon rate varies by a magnitude that exceeds the magnitude of the change in the index or reference rate of interest, which could result in increased losses for the Fund. Inverse floaters can increase the Fund's risk exposure to underlying references and their attendant risks, such as credit risk, market risk and interest rate risk, while exposing the Fund to counterparty risk, hedging risk, inflation risk, leverage risk, liquidity risk, pricing risk and volatility risk.**

**Exchange-Traded Fund (ETF) Risk. Investments in ETFs have unique characteristics, including, but not limited to, the expense structure and additional expenses associated with investing in ETFs. ETFs are subject to, among other risks, tracking risk and passive and, in some cases, active investment risk. In addition, shareholders bear both their proportionate share of the Fund's expenses, and indirectly the ETF's expenses, incurred through the Fund's ownership of the ETF. Because the expenses and costs of an underlying ETF are shared by its investors, redemptions by other investors in the ETF could result in decreased economies of scale and increased operating expenses for such ETF. The ETFs may not achieve their investment objective. The Fund, through its investment in ETFs, may not achieve its investment objective.**

**High-Yield Investments Risk. Securities and other debt instruments held by the Fund that are rated below investment grade (commonly called "high-yield" or "junk" bonds) and unrated debt instruments of comparable quality expose the Fund to a greater risk of loss of principal and income than a fund that invests solely or primarily in investment grade debt instruments. In addition, these investments have greater price fluctuations, are less liquid and are more likely to experience a default than higher-rated debt instruments. High-yield debt instruments are considered to be predominantly speculative with respect to the issuer's capacity to pay interest and repay principal.**

**Interest Rate Risk. Interest rate risk is the risk of losses attributable to changes in interest rates. In general, if interest rates rise, the values of debt instruments tend to fall, and if interest rates fall, the values of debt instruments tend to rise. Changes in the value of a debt instrument usually will not affect the amount of income the Fund receives from it but will generally affect the value of your investment in the Fund. Changes in interest rates may also affect the liquidity of the Fund's investments in debt instruments. In general, the longer the maturity or duration of a debt instrument, the greater its sensitivity to changes in interest rates. Interest rate declines also may increase prepayments of debt obligations, which, in turn, would increase prepayment risk. Very low or negative interest rates may impact the Fund's yield and may increase the risk that, if followed by rising interest rates, the Fund's performance will be negatively impacted. The Fund is subject to the risk that the income generated by its investments may not keep pace with inflation. Actions by governments and central banking authorities can result in increases or decreases in interest rates. Higher periods of inflation could lead such authorities to raise interest rates. Such actions may negatively affect the value of debt instruments held by the Fund, resulting in a negative impact on the Fund's performance and NAV. Any interest rate increases could cause the value of the Fund's investments in debt instruments to decrease. Rising interest rates may prompt redemptions from the Fund, which may force the Fund to sell investments at a time when it is not advantageous to do so, which could result in losses.**

Columbia Strategic New York Municipal Income Fund 4

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**Investing in Other Funds Risk. The Fund's investment in other funds (affiliated and/or unaffiliated funds, including exchange-traded funds (ETFs)) subjects the Fund to the investment performance (positive or negative) and risks of the underlying funds in direct proportion to the Fund's investment therein. In addition, investments in ETFs have unique characteristics, including, but not limited to, the expense structure and additional expenses associated with investing in ETFs. The performance of the underlying funds could be adversely affected if other investors in the same underlying funds make relatively large investments or redemptions in such underlying funds. The Fund, and its shareholders, indirectly bear a portion of the expenses of any funds in which the Fund invests. Due to the expenses and costs of an underlying fund being shared by its investors, redemptions by other investors in the underlying funds could result in decreased economies of scale and increased operating expenses for such underlying funds. The Investment Manager typically selects underlying funds from among the funds for which it, or an affiliate, acts as the investment manager (affiliated underlying funds) and will select an unaffiliated underlying fund only if the desired investment exposure is not available through an affiliated fund. The Investment Manager has a conflict of interest in selecting affiliated underlying funds over unaffiliated underlying funds because it receives management fees from affiliated underlying funds, and it has a conflict in selecting among affiliated underlying funds, because the fees paid to it by certain affiliated underlying funds are higher than the fees paid by other affiliated underlying funds. Also, to the extent that the Fund is constrained/restricted from investing (or investing further) in a particular underlying fund for one or more reasons (e.g., underlying fund capacity constraints or regulatory restrictions) or if the Fund chooses to sell its investment in an underlying fund because of poor investment performance or for other reasons, the Fund may have to invest in other underlying funds, including less desirable funds – from a strategy or investment performance standpoint – which could have a negative impact on Fund performance. In addition, Fund performance could be negatively impacted if an appropriate alternate underlying fund is not identified in a timely manner or at all. The underlying funds may not achieve their investment objective. The Fund, through its investment in underlying funds, may not achieve its investment objective.**

**Liquidity Risk. Liquidity risk is the risk associated with any event, circumstance, or characteristic of an investment or market that negatively impacts the Fund's ability to sell, or realize the proceeds from the sale of, an investment at a desirable time or price. Liquidity risk may arise because of, for example, a lack of marketability of the investment, which means that when seeking to sell its portfolio investments, the Fund could find that selling is more difficult than anticipated, especially during times of high market volatility. Decreases in the number of financial institutions, including banks and broker-dealers, willing to make markets (match up sellers and buyers) in the Fund's investments or decreases in their capacity or willingness to trade such investments may increase the Fund's exposure to this risk. The debt market has experienced considerable growth, and financial institutions making markets in instruments purchased and sold by the Fund (e.g., bond dealers) have been subject to increased regulation. The impact of that growth and regulation on the ability and willingness of financial institutions to engage in trading or "making a market" in such instruments remains unsettled. Certain types of investments, such as lower-rated securities or those that are purchased and sold in over-the-counter markets, may be especially subject to liquidity risk. Securities or other assets in which the Fund invests may be traded in the over-the-counter market rather than on an exchange and therefore may be more difficult to purchase or sell at a fair price, which may have a negative impact on the Fund's performance. Market participants attempting to sell the same or a similar instrument at the same time as the Fund could exacerbate the Fund's exposure to liquidity risk. The Fund may have to accept a lower selling price for the holding, sell other liquid or more liquid investments that it might otherwise prefer to hold (thereby increasing the proportion of the Fund's investments in less liquid or illiquid securities), or forego another more appealing investment opportunity. The liquidity of Fund investments may change significantly over time and certain investments that were liquid when purchased by the Fund may later become illiquid, particularly in times of overall economic distress. Changing regulatory, market or other conditions or environments (for example, the interest rate or credit environments) may also adversely affect the liquidity and the price of the Fund's investments. Judgment plays a larger role in valuing illiquid or less liquid investments as compared to valuing liquid or more liquid investments. Price volatility may be higher for illiquid or less liquid investments as a result of, for example, the relatively less frequent pricing of such securities (as compared to liquid or more liquid investments). Generally, the less liquid the market at the time the Fund sells a portfolio investment, the greater the risk of loss or decline of value to the Fund. Overall market liquidity and other factors can lead to an increase in redemptions, which may negatively impact Fund performance and NAV, including, for example, if the Fund is forced to sell investments in a down market. The municipal securities market is an over-the-counter market, which means that the Fund purchases and sells investments through municipal bond dealers. The Fund's ability to sell investments held in its portfolio is dependent on the willingness and ability of market participants to provide bids that, in the view of portfolio management, reflect current market prices. Adverse market conditions could result in a lack of liquidity by reducing the number of ready buyers.**

**Market Risk. The Fund may incur losses due to declines in the value of one or more securities in which it invests. These declines may be due to factors affecting a particular issuer, or the result of, among other things, political, regulatory, market, economic or social developments affecting the relevant market(s) more generally. In addition,**

5 Columbia Strategic New York Municipal Income Fund

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turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Fund's ability to price or value hard-to-value assets in thinly traded and closed markets and could cause significant redemptions and operational challenges. Global economies and financial markets are increasingly interconnected, and conditions and events in one country, region or financial market may adversely impact issuers in a different country, region or financial market. These risks may be magnified if certain events or developments adversely interrupt the global supply chain; in these and other circumstances, such risks might affect companies worldwide. As a result, local, regional or global events such as terrorism, war, other conflicts, natural disasters, disease/virus outbreaks and epidemics or other public health issues, recessions, depressions or other events – or the potential for such events – could have a significant negative impact on global economic and market conditions.

**Money Market Fund Investment Risk. An investment in a money market fund is not a bank deposit and is not insured or guaranteed by any bank, the FDIC or any other government agency. Certain money market funds float their NAV while others seek to preserve the value of investments at a stable NAV (typically, $1.00 per share). An investment in a money market fund, even an investment in a fund seeking to maintain a stable NAV per share, is not guaranteed and it is possible for the Fund to lose money by investing in these and other types of money market funds. If the liquidity of a money market fund's portfolio deteriorates below certain levels, the money market fund may suspend redemptions (i.e., impose a redemption gate) and thereby prevent the Fund from selling its investment in the money market fund or impose a fee of up to 2% on amounts the Fund redeems from the money market fund (i.e., impose a liquidity fee). These measures may result in an investment loss or prohibit the Fund from redeeming shares when the Investment Manager would otherwise redeem shares. In addition to the fees and expenses that the Fund directly bears, the Fund indirectly bears the fees and expenses of any money market funds in which it invests, including affiliated money market funds. By investing in a money market fund, the Fund will be exposed to the investment risks of the money market fund in direct proportion to such investment. To the extent the Fund invests in instruments such as derivatives, the Fund may hold investments, which may be significant, in money market fund shares to cover its obligations resulting from the Fund's investments in such instruments. Money market funds and the securities they invest in are subject to comprehensive regulations. The enactment of new legislation or regulations, as well as changes in interpretation and enforcement of current laws, may affect the manner of operation, performance and/or yield of money market funds.**

**Municipal Securities Risk. Municipal securities are debt obligations generally issued to obtain funds for various public purposes, including general financing for state and local governments, or financing for a specific project or public facility, and include obligations of the governments of the U.S. territories, commonwealths and possessions such as Guam, Puerto Rico and the U.S. Virgin Islands to the extent such obligations are exempt from state and U.S. federal income taxes. The value of municipal securities can be significantly affected by actual or expected political and legislative changes at the federal or state level. Municipal securities may be fully or partially backed by the taxing authority of the local government, by the credit of a private issuer, by the current or anticipated revenues from a specific project or specific assets or by domestic or foreign entities providing credit support, such as letters of credit, guarantees or insurance, and are generally classified into general obligation bonds and special revenue obligations. Because many municipal securities are issued to finance projects in sectors such as education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal market.**

Issuers in a state, territory, commonwealth or possession in which the Fund invests may experience significant financial difficulties for various reasons, including as the result of events that cannot be reasonably anticipated or controlled such as economic downturns or similar periods of economic stress, social conflict or unrest, labor disruption and natural disasters. Such financial difficulties may lead to credit rating downgrades or defaults of such issuers which in turn, could affect the market values and marketability of many or all municipal obligations of issuers in such state, territory, commonwealth or possession. The value of the Fund's shares will be negatively impacted to the extent it invests in such securities. The Fund's annual and semiannual reports show the Fund's investment exposures at a point in time. The risk of investing in the Fund is directly correlated to the Fund's investment exposures.

Because the Fund invests substantially in municipal securities issued by the state identified in the Fund's name and political sub-divisions of that state, the Fund will be particularly affected by adverse tax, legislative, regulatory, demographic or political changes as well as changes impacting the state's financial, economic or other condition and prospects. In addition, because of the relatively small number of issuers of tax-exempt securities in the state, the Fund may invest a higher percentage of assets in a single issuer and, therefore, be more exposed to the risk of loss than a fund that invests more broadly. The value of municipal and other securities owned by the Fund also may be adversely affected by future changes in federal or state income tax laws.

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**Non-Diversified Fund Risk. The Fund is non-diversified, which generally means that it may invest a greater percentage of its total assets in the securities of fewer issuers than a "diversified" fund. This increases the risk that a change in the value of any one investment held by the Fund could affect the overall value of the Fund more than it would affect that of a diversified fund holding a greater number of investments. Accordingly, the Fund's value will likely be more volatile than the value of a more diversified fund.**

**Reinvestment Risk. Reinvestment risk arises when the Fund is unable to reinvest income or principal at the same or at least the same return it is currently earning.**

**Tax Risk. Municipal securities generally pay interest that, in the opinion of bond counsel, is free from U.S. federal income tax (and in most cases, the U.S. federal alternative minimum tax). Income from tax-exempt municipal obligations could be declared taxable, possibly retroactively, because of unfavorable changes in tax laws, adverse interpretations by the Internal Revenue Service, the non-compliant conduct of a bond issuer or under other circumstances. In such event, then the value of the security would likely fall and, as a shareholder of the Fund, you may be required to file an amended tax return and pay additional taxes.**

**Zero-Coupon Bonds Risk. Zero-coupon bonds are bonds that do not pay interest in cash on a current basis, but instead accrue interest over the life of the bond. As a result, these securities are issued at a discount and their values may fluctuate more than the values of similar securities that pay interest periodically. Although these securities pay no interest to holders prior to maturity, interest accrued on these securities is reported as income to the Fund and affects the amounts distributed to its shareholders, which may cause the Fund to sell investments to obtain cash to make income distributions to shareholders, including at times when it may not be advantageous to do so.**

#### Performance Information
The following bar chart and table show you how the Fund has performed in the past, and can help you understand the risks of investing in the Fund. The bar chart shows how the Fund's Class A share performance (without sales charges) has varied for each full calendar year shown. If the sales charges were reflected, returns shown would be lower. The table below the bar chart compares the Fund's returns (after applicable sales charges shown in the *Shareholder Fees* table in this prospectus) for the periods shown with a broad measure of market performance, as well as another measure of performance for markets in which the Fund may invest.

The performance of one or more share classes shown in the table below begins before the indicated inception date for such share class. The returns shown for each such share class include the returns of the Fund's Class A shares (without applicable sales charges) for periods prior to its inception date.

Except for differences in annual returns resulting from differences in expenses and sales charges (where applicable), the share classes of the Fund would have substantially similar annual returns because all share classes of the Fund invest in the same portfolio of securities.

The after-tax returns shown in the *Average Annual Total Returns* table below are calculated using the highest historical individual U.S. federal marginal income tax rates in effect during the period indicated in the table and do not reflect the impact of state, local or foreign taxes. Your actual after-tax returns will depend on your personal tax situation and may differ from those shown in the table. In addition, the after-tax returns shown in the table do not apply to shares held in tax-advantaged accounts such as 401(k) plans or Individual Retirement Accounts (IRAs). The after-tax returns are shown only for Class A shares and will vary for other share classes. Returns after taxes on distributions and sale of Fund shares are higher than before-tax returns for certain periods shown because they reflect the tax benefit of capital losses realized on the redemption of Fund shares.

**The Fund's past performance (before and after taxes) is no guarantee of how the Fund will perform in the future. Updated performance information can be obtained by calling toll-free 800.345.6611 or visiting columbiathreadneedleus.com.**

7 Columbia Strategic New York Municipal Income Fund

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Year by Year Total Return (%)<br> as of December 31 Each Year** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** | &nbsp;&nbsp;&nbsp;&nbsp;**Best and Worst Quarterly Returns<br> During the Period Shown in the Bar Chart** |
| ![](g606808bg_638.jpg)  | &nbsp;&nbsp;&nbsp;&nbsp; <sub>Best</sub> | <sub>4th Quarter 2022</sub> | <sub>4.03%</sub> |
| ![](g606808bg_638.jpg)  | &nbsp;&nbsp; <sub>Worst</sub> | <sub>1st Quarter 2022</sub> | <sub>-7.15%</sub> |

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#### Average Annual Total Returns After Applicable Sales Charges (for periods ended December 31, 2022)

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| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Share Class <br> Inception Date** | &nbsp;&nbsp;&nbsp;&nbsp;**1 Year** | &nbsp;&nbsp;&nbsp;&nbsp;**5 Years** | &nbsp;&nbsp;&nbsp;&nbsp;**10 Years** |
| &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;&nbsp;&nbsp;09/26/1986 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns before taxes |  | &nbsp;&nbsp;&nbsp;&nbsp;-16.79% | &nbsp;&nbsp;&nbsp;&nbsp;-0.63% | &nbsp;&nbsp;&nbsp;&nbsp;1.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns after taxes on distributions |  | &nbsp;&nbsp;&nbsp;&nbsp;-16.79% | &nbsp;&nbsp;&nbsp;&nbsp;-0.76% | &nbsp;&nbsp;&nbsp;&nbsp;1.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;returns after taxes on distributions and sale of Fund shares |  | &nbsp;&nbsp;&nbsp;&nbsp;-8.90% | &nbsp;&nbsp;&nbsp;&nbsp;0.20% | &nbsp;&nbsp;&nbsp;&nbsp;1.63% |
| &nbsp;&nbsp;**Class Adv returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;03/19/2013 | &nbsp;&nbsp;&nbsp;&nbsp;-14.00% | &nbsp;&nbsp;&nbsp;&nbsp;0.22% | &nbsp;&nbsp;&nbsp;&nbsp;1.74% |
| &nbsp;&nbsp;**Class C returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;08/01/1997 | &nbsp;&nbsp;&nbsp;&nbsp;-15.41% | &nbsp;&nbsp;&nbsp;&nbsp;-0.45% | &nbsp;&nbsp;&nbsp;&nbsp;1.05% |
| &nbsp;&nbsp;**Class Inst returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;09/01/2011 | &nbsp;&nbsp;&nbsp;&nbsp;-13.98% | &nbsp;&nbsp;&nbsp;&nbsp;0.24% | &nbsp;&nbsp;&nbsp;&nbsp;1.75% |
| &nbsp;&nbsp;**Class Inst2 returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;11/08/2012 | &nbsp;&nbsp;&nbsp;&nbsp;-13.97% | &nbsp;&nbsp;&nbsp;&nbsp;0.26% | &nbsp;&nbsp;&nbsp;&nbsp;1.77% |
| &nbsp;&nbsp;**Class Inst3 returns before taxes** | &nbsp;&nbsp;&nbsp;&nbsp;03/01/2017 | &nbsp;&nbsp;&nbsp;&nbsp;-13.95% | &nbsp;&nbsp;&nbsp;&nbsp;0.31% | &nbsp;&nbsp;&nbsp;&nbsp;1.67% |
| &nbsp;&nbsp;**Bloomberg New York Municipal Bond Index (reflects no deductions for fees, expenses or taxes)** |  | &nbsp;&nbsp;&nbsp;&nbsp;-8.94% | &nbsp;&nbsp;&nbsp;&nbsp;0.98% | &nbsp;&nbsp;&nbsp;&nbsp;1.99% |
| &nbsp;&nbsp;**Bloomberg Municipal Bond Index (reflects no deductions for fees, expenses or taxes)** |  | &nbsp;&nbsp;&nbsp;&nbsp;-8.53% | &nbsp;&nbsp;&nbsp;&nbsp;1.25% | &nbsp;&nbsp;&nbsp;&nbsp;2.13% |

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#### Fund Management

#### Investment Manager: Columbia Management Investment Advisers, LLC

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| | | | |
|:---|:---|:---|:---|
| **Portfolio Management** | &nbsp;&nbsp;&nbsp;&nbsp;**Title** | &nbsp;&nbsp;&nbsp;&nbsp;**Role with Fund** | &nbsp;&nbsp;&nbsp;&nbsp;**Managed Fund Since** |
| Douglas J. White, CFA | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;Lead Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2018 |
| Catherine Stienstra | &nbsp;&nbsp;&nbsp;&nbsp;Senior Portfolio Manager and Head of Municipal Bond Investments | &nbsp;&nbsp;&nbsp;&nbsp;Portfolio Manager | &nbsp;&nbsp;&nbsp;&nbsp;2010 |

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#### Purchase and Sale of Fund Shares
You may purchase or redeem shares of the Fund on any business day by contacting the Fund in the ways described below:

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| | | |
|:---|:---|:---|
| **Online** | &nbsp;&nbsp;&nbsp;&nbsp;**Regular Mail** | &nbsp;&nbsp;&nbsp;&nbsp;**By Telephone** |
| columbiathreadneedleus.com/investor/ | &nbsp;&nbsp;&nbsp;&nbsp;Columbia Management<br> Investment Services Corp.<br> P.O. Box 219104<br> Kansas City, MO 64121-9104 &nbsp;&nbsp;&nbsp;&nbsp;Columbia Management<br> Investment Services Corp.<br> c/o SS&C GIDS, Inc.<br> 430 W 7<sup>th</sup> Street, Suite 219104<br> Kansas City, MO 64105-1407 | &nbsp;&nbsp;&nbsp;&nbsp;800.422.3737 |

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You may purchase shares and receive redemption proceeds by electronic funds transfer, by check or by wire. If you maintain your account with a broker-dealer or other financial intermediary, you must contact that financial intermediary to buy, sell or exchange shares of the Fund through your account with the intermediary.

The minimum initial investment amounts for the share classes offered by the Fund are shown below:

Columbia Strategic New York Municipal Income Fund 8

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#### Minimum Initial Investment

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Class** | &nbsp;&nbsp;**Category of eligible account** | &nbsp;&nbsp;**For accounts other than<br> Systematic Investment<br> Plan accounts (as described in the Fund's Prospectus)** | &nbsp;&nbsp;**For Systematic Investment<br> Plan accounts** |
| &nbsp;&nbsp;**Classes A & C** | &nbsp;&nbsp;All accounts other than IRAs | &nbsp;&nbsp;$2000 | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes A & C** | &nbsp;&nbsp;IRAs | &nbsp;&nbsp;$1000 | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Classes Adv & Inst** | &nbsp;&nbsp;All eligible accounts | &nbsp;&nbsp;$0, $1,000 or $2,000<br> depending upon the category<br> of eligible investor | &nbsp;&nbsp;$100 |
| &nbsp;&nbsp;**Class Inst2** | &nbsp;&nbsp;All eligible accounts |  | &nbsp;&nbsp;N/A |
| &nbsp;&nbsp;**Class Inst3** | &nbsp;&nbsp;All eligible accounts | &nbsp;&nbsp;$0, $1,000, $2,000<br> or $1 million depending<br> upon the category<br> of eligible investor | &nbsp;&nbsp;$100 (for certain<br> eligible investors) |

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More information about these minimums can be found in the *Buying, Selling and Exchanging Shares - Buying Shares* section of the prospectus. There is no minimum additional investment for any share class.

#### Tax Information
Generally, a substantial portion of the Fund's distributions consists of exempt-interest dividends, which are generally not taxable to you for U.S. federal income tax purposes or for purposes of the U.S. federal alternative minimum tax. A portion of the Fund's distributions may not qualify as exempt-interest dividends; such distributions will generally be taxable to you as ordinary income or capital gains, unless you are investing through a tax-advantaged account, such as a 401(k) plan or an IRA. If you are investing through a tax-advantaged account, you may be taxed upon withdrawals from that account.

#### Payments to Broker-Dealers and Other Financial Intermediaries
If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies — including Columbia Management Investment Advisers, LLC (the Investment Manager), Columbia Management Investment Distributors, Inc. (the Distributor) and Columbia Management Investment Services Corp. (the Transfer Agent) — 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 financial advisor to recommend the Fund over another investment. Ask your financial advisor or visit your financial intermediary's website for more information.

9 Columbia Strategic New York Municipal Income Fund

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Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.

The Fund is distributed by Columbia Management Investment Distributors, Inc., 290 Congress Street, Boston, MA 02210.© 2023 Columbia Management Investment Advisers, LLC. All rights reserved.

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| **columbiathreadneedleus.com** | SUM205_10_N01_(03/23) |

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