# EDGAR Filing Document

**Accession Number:** 0001847518
**File Stem:** 0001214659-25-010533
**Filing Date:** 2025-7
**Character Count:** 101777
**Document Hash:** 5642af2e467214681fc47bfc05bd19fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-010533.hdr.sgml**: 20250717

**ACCESSION NUMBER**: 0001214659-25-010533

**CONFORMED SUBMISSION TYPE**: PRE 14A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250717

**FILED AS OF DATE**: 20250717

**DATE AS OF CHANGE**: 20250717

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tax Free Fund for Puerto Rico Residents, Inc.
- **CENTRAL INDEX KEY:** 0001847518

**ORGANIZATION NAME:**
- **EIN:** 660593234
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** PRE 14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-23672
- **FILM NUMBER:** 251131134

**BUSINESS ADDRESS:**
- **STREET 1:** 250 MUNOZ RIVERA
- **STREET 2:** TENTH FLOOR
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918
- **BUSINESS PHONE:** 787-250-3600

**MAIL ADDRESS:**
- **STREET 1:** 250 MUNOZ RIVERA
- **STREET 2:** TENTH FLOOR
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tax Free Puerto Rico Fund, Inc.
- **DATE OF NAME CHANGE:** 20210223
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Puerto Rico Residents Tax-Free Fund, Inc.
- **CENTRAL INDEX KEY:** 0001843995

**ORGANIZATION NAME:**
- **EIN:** 660516386
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** PRE 14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-23688
- **FILM NUMBER:** 251131136

**BUSINESS ADDRESS:**
- **STREET 1:** 270 MUNOZ RIVERA AVE.
- **STREET 2:** SUITE 1110
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918
- **BUSINESS PHONE:** 7877641788

**MAIL ADDRESS:**
- **STREET 1:** 270 MUNOZ RIVERA AVE.
- **STREET 2:** SUITE 1110
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Puerto Rico Investors Tax-Free Fund, Inc.
- **DATE OF NAME CHANGE:** 20210202
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Puerto Rico Residents Tax-Free Fund VI, Inc.
- **CENTRAL INDEX KEY:** 0001847283

**ORGANIZATION NAME:**
- **EIN:** 660554287
- **STATE OF INCORPORATION:** PR
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** PRE 14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 811-23694
- **FILM NUMBER:** 251131135

**BUSINESS ADDRESS:**
- **STREET 1:** 270 MUNOZ RIVERA AVENUE
- **STREET 2:** SUITE 1110
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918
- **BUSINESS PHONE:** 7877641788

**MAIL ADDRESS:**
- **STREET 1:** 270 MUNOZ RIVERA AVENUE
- **STREET 2:** SUITE 1110
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00918

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Puerto Rico Investors Tax Free Fund VI, Inc.
- **DATE OF NAME CHANGE:** 20210222

**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

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| | |
|:---|:---|
| ◻ | **Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))** |

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◻ 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):

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| | |
|:---|:---|
| ⌧ | 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. |

---

**PRELIMINARY COPY SUBJECT TO COMPLETION**

**DATED JULY 17, 2025**

**Tax Free Fund for Puerto Rico Residents, Inc.**

**[Insert Address]**

**Puerto Rico Residents Tax-Free Fund, Inc.**

**Puerto Rico Residents Tax-Free Fund VI, Inc.**

**[Insert Address]**

**[•], [•], 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 virtually on [•], 2025, at 10:00AM (Eastern Time).

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(s) 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 its fund complex where they 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 election for the foregoing shareholder meetings certified the results of such elections (the "Meeting Certifications"), including the election of Ocean Capital's new directors to each of the Funds (with respect to each Fund, the "Board" and for the Funds, collectively, the "Boards") and the certification of certain substantially similar shareholder proposals to terminate all investment advisory and management agreements between each of the Funds and UBS Asset Managers of Puerto Rico ("UBS") within sixty days of certification of the results of the shareholder meetings (each, an "Adviser Termination Proposal").

Shareholders of TFF I had approved its Adviser Termination Proposal at the 2024 annual meeting of shareholders held on July 18, 2024. Shareholders of PRRTFF I had approved its Adviser Termination Proposal at the 2023 annual meeting of shareholders ultimately held on April 14, 2024. Shareholders of PRRTFF VI approved its Adviser Termination Proposal at the 2024 annual meeting ultimately held on January 16, 2025. Following the First Circuit Ruling, and under the direction of the former members of the Boards, the Meeting Certifications certifying such proposals were issued on May 20, 2025. Since this time, UBS and the Funds have taken the position that the termination date for the investment advisory and management agreements between each of the Funds and UBS (the "UBS Agreements") is July 19, 2025 (the "Adviser Termination Date"), sixty days following the Meeting Certifications.

In addition, following the Meeting Certifications, the Boards engaged an independent consultant to assist in its search and evaluation of potential investment advisers for the Funds. By the end of this search process, the Boards had not identified any suitable firms to serve as the investment adviser for the Funds on a long-term basis. In light of the approaching Adviser Termination Date, the Boards then invited UBS to submit a bid to serve as an investment adviser to the Funds pursuant to an interim advisory agreement. On June 30, 2025, UBS informed the Boards that it would not be submitting a bid to serve as the investment adviser for the Funds beyond July 19, 2025, including on an interim basis.

After considering the risks with respect to each of the Fund's portfolios that could result from the Fund not having a suitable investment adviser after the Adviser Termination Date, among other factors, the Boards determined it to be in the best interest of shareholders to direct UBS to, as soon as reasonably practicable and in a manner consistent with UBS's fiduciary duties to the Funds (including by taking into consideration certain factors that UBS determines appropriate, including market considerations and manners of best execution), to begin the process of selling each Fund's securities and maintain each Fund's assets in cash, cash equivalents, or other low-risk, short-term assets. During its process, the Boards identified Atlas Asset Management, LLC ("Atlas"), a registered investment adviser that provides investment advisory services for individuals and institutional clients, as a suitable interim adviser to manage the Funds' securities on a transitional basis and, accordingly, on July 15, 2025, the Boards approved an interim investment advisory agreement between the Funds and Atlas, and the Funds subsequently entered into an interim investment advisory agreement with Atlas, effective July 20, 2025, for the management of each Fund's portfolio on a temporary basis. In considering its approval of the interim investment advisory agreement with Atlas, the Boards provided Atlas with the same direction to sell each Fund's securities as directed to UBS.

In consideration of the foregoing, the Boards unanimously declared it advisable that each Fund (1) cease operations as an investment company and (2) following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.

Under the 1940 Act, shareholders of each of the Funds must approve the foregoing actions by a vote of a majority of the outstanding voting securities of each Fund. Within the current context, and pursuant to the 1940 Act, a "vote of a majority of the outstanding voting securities" of a Fund means the affirmative vote of the lesser of (i) more than 50% of the outstanding shares of common stock of the Fund or (ii) 67% or more of the shares of common stock present at a shareholders meeting if more than 50% of the outstanding shares of common stock are represented at the meeting in person or by proxy.

The Boards, therefore, recommend that the shareholders of each Fund vote "**FOR**" their Fund to cease operations as an investment company on Proposal 1 and "**FOR**" their Fund to, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders on Proposal 2.

The Board of each Fund knows of no other business to be presented for consideration at the Special Meeting. As this is a special meeting, no additional business may be conducted beyond items listed in the Notice of Special Meeting. If, however, any other matters, including adjournments, are properly brought before the Special Meeting, the persons named in the accompanying form of proxy will vote thereon in accordance with their discretion.

Each Fund will hold a separate Special Meeting. Shareholders of each Fund will vote separately from shareholders of each other Fund.

**The Board recommends that you vote "FOR" both Proposal 1 and Proposal 2.** However, before you vote, please read the full text of the Joint Proxy Statement for an explanation of each proposal.

**Your vote on this matter is important. Even if you plan to virtually attend and vote at the Special Meeting, please promptly follow the enclosed instructions to submit voting instructions by telephone or over the internet. Alternatively, you may submit voting instructions by signing and dating your proxy card and returning it in the accompanying postage-paid return envelope. In order to ensure that shares will be voted in accordance with your instructions, please submit your proxy by [•], 2025.**

If you have any questions about the proposal to be voted on, please call the Funds at [•].

Sincerely, <br> Ethan A. Danial <br> Chairman of the Boards

**IMPORTANT NEWS FOR FUND SHAREHOLDERS**

**While we encourage you to read the full text of the enclosed Joint Proxy Statement, for your convenience, we have provided a brief overview of the matters to be voted on.**

**Questions and Answers**

**Q.** **Who is making this solicitation?** 

A. This solicitation is made on behalf of the Board of each Fund for the purpose set forth in the accompanying Notice of Special Meeting.

**Q.** **What matters will be voted on at the Special Meeting?** 

A. Shareholders of each Fund are being asked to consider and vote for
 their Fund to (1) cease operations as an investment company and (2) following a sale of substantially all of the Fund's
 securities, pay a dividend with the proceeds of such sale(s) to shareholders. The Boards unanimously recommend that shareholders
 vote "**FOR**" their Fund to cease operations as an investment company and "**FOR**" their Fund to,
 following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to
 shareholders.

**Q.** **Why do the Boards recommend that shareholders approve the Proposals?** 

A. After considering the risks with respect to each
 of the Fund's portfolios that could result from the Fund not having a suitable investment adviser after the Adviser
 Termination Date, among other factors, the Boards determined it to be in the best interest of shareholders to direct UBS to, as soon
 as reasonably practicable and in a manner consistent with UBS's fiduciary duties to the Funds (including by taking into
 consideration certain factors that UBS determines appropriate, including market considerations and manners of best execution), to
 begin the process of selling each Fund's securities and maintain each Fund's assets in cash, cash equivalents, or other
 low-risk, short-term assets. During the investment adviser search process, the Boards identified Atlas as a suitable interim adviser
 to manage the Funds' securities on a transitional basis and, accordingly, on July 15, 2025, the Boards approved an interim
 investment advisory agreement between the Funds and Atlas, and the Funds subsequently entered into an interim investment advisory
 agreement with Atlas, effective July 20, 2025, for the management of each Fund's portfolio on a temporary basis. In
 considering its approval of the interim investment advisory agreement with Atlas, the Boards provided Atlas with the same direction
 to sell each Fund's securities as directed to UBS. In consideration of the foregoing, the
 Boards unanimously declared it advisable that each Fund (1) cease operations as an investment company and (2) following a sale of
 substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.

**Q.** **What factors did the Boards consider in recommending that shareholders vote "FOR" each of the Proposals?** 

A. The Boards considered a
 variety of factors in recommending that shareholders vote "**FOR**" each of the Proposals,
 including: (i) the lack of a suitable long-term investment adviser; (ii) the risks of operating the
 Funds without a suitable long-term investment adviser; (iii) the Funds' costs and limited growth
 prospects; (iv) tax consequences; (v) the opportunity for the Funds' shareholders to realize
 a liquidity event at net asset value ("NAV") and (vi) the lack of viable alternative
 options at the present time. The Boards' evaluation of the Proposals took into account not
 only all of the foregoing information, but information about the Funds received by the Boards since
 their inception and that reflected the knowledge and familiarity gained as members of the Boards.

**Q.** **What will happen if the Proposals are approved at the Special Meeting?** 

A. If shareholders approve Proposal 1 with
 respect to any Fund, that Fund will apply for deregistration under the Investment Company Act of 1940, as amended (the "1940
 Act"), and cease doing business as an investment company (including ceasing to invest assets in accordance with the
 Fund's investment objectives). It is expected that the U.S. Securities and Exchange Commission will issue an order approving
 the deregistration of such Fund if the Fund is no longer doing business as an investment company. If shareholders approve Proposal 2, the Fund
 will set aside, in cash or cash equivalents, the amount of all known or reasonably ascertainable obligations of the Fund and make
 one or more dividend payments to shareholders. The amounts of the dividend(s) to be paid to shareholders of a Fund
 will be reduced by the ordinary expenses and liabilities of the Fund, as described in more detail below.

**Q.** **What will happen if the Proposals are not approved at the Special Meeting?** 

A. If shareholders do not approve Proposal 1, the
 Fund will continue to be subject to the 1940 Act. If shareholders do not approve Proposal 2,
 that Fund will retain its assets and be required to continue to exist in accordance with its stated investment objective and
 policies while the Board considers what, if any, steps to take in the best interest of the Fund and its shareholders, including the
 possibility of resubmitting the Proposals or alternative plan(s) to shareholders for consideration.

**Q.** **Will the Funds pay for the expenses associated with the Proposals and this Joint Proxy Statement?** 

A. Yes, certain of the costs and expenses associated with the Proposals
 and this Joint Proxy Statement (including legal, printing and proxy solicitation expenses) will be paid by the Funds. If approved,
 transaction costs associated with the Funds ceasing operations as investment companies and paying the dividend to shareholders, will
 also be paid by the Funds.

**Q.** **Who is eligible to vote?** 

A. Shareholders of a Fund as of the close of business on [•], 2025 (the "Record Date") are eligible to vote at the Special Meeting with respect to Proposal 1 and Proposal 2. Each shareholder is entitled to one vote for each full share of common stock held and a corresponding fraction of a vote for each fractional share of common stock held by the shareholder at the close of business on the Record Date.

**Q.** **Whom do I call if I have questions?** 

A. If you need more information, or have any questions about voting, please call the Funds at [•].

**Q.** **How do I vote my shares?** 

A. You can provide voting instructions by telephone by calling the toll-free number on the enclosed proxy card(s) or by computer by going to the internet address provided on the proxy card(s) and following the instructions, using your proxy card(s) as a guide. Alternatively, you can authorize your proxy to vote your shares by signing and dating the enclosed proxy card(s), and mailing it in the enclosed postage-paid envelope. You also may attend the Special Meeting and vote in person. However, even if you intend to attend the Special Meeting in person, we encourage you to provide voting instructions by one of the methods described above.

**It is important that you vote promptly. In order to ensure that shares will be voted in accordance with your instructions, please submit your proxy by [•], 2025.**

**Tax Free Fund for Puerto Rico Residents, Inc.**

**[Insert Address]**

**Puerto Rico Residents Tax-Free Fund, Inc.**

**Puerto Rico Residents Tax-Free Fund VI, Inc.**

**[Insert Address]**

**[•], [•], 2025**

**NOTICE OF SPECIAL MEETING OF SHAREHOLDERS**

**Scheduled To Be Held [•], 2025**

**To the shareholders of Tax Free Fund for Puerto Rico Residents, Inc., Puerto Rico Residents Tax-Free Fund, Inc., and Puerto Rico Residents Tax-Free Fund VI, Inc.:**

A Special Meeting of Shareholders (each, a "Special Meeting," together, the "Special Meetings") 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 virtually on [•], 2025, at 10:00AM (Eastern Time), for the following purposes:

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| | |
|:---|:---|
| **Proposal 1:** | For the Funds to cease operations as investment companies ("Proposal 1"). |
| **Proposal 2:** | Following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders ("Proposal 2" and together with Proposal 1, the "Proposals"). |

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The Board of Directors of each Fund (with respect to each Fund, the "Board" and for the Funds, collectively, the "Boards" and each member of the Boards, a "Director") know of no other business to be presented for consideration at the Special Meeting. As this is a special meeting, no additional business may be conducted beyond items listed in the Notice of Special Meeting. If, however, any other matters, including adjournments, are properly brought before the Special Meeting, the persons named in the accompanying form of proxy will vote thereon in accordance with their discretion.

The Boards have fixed the close of business on [•], 2025 as the record date (the "Record Date") for the determination of the shareholders of record of a Fund entitled to notice of and to vote at such Fund's Special Meeting and any adjournment or postponement thereof.

The Boards unanimously recommend that you vote on the enclosed proxy card "**FOR**" both Proposal 1 and Proposal 2.

This Joint Proxy Statement was first mailed to shareholders of the Funds on or about [•], 2025.

**Please read this Joint Proxy Statement carefully and vote on the enclosed proxy card or by internet or telephone as recommended by the Boards. Whether or not you expect to attend the Special Meeting, and in order to facilitate timely receipt of your proxy vote, we urge you to sign, date and return the enclosed proxy card or vote by internet or telephone as promptly as possible. Voting now will not limit your right to change your vote or to attend the Special Meeting.**

**Important Notice Regarding the Availability of Proxy Materials for the Special Meeting of Shareholders to be Held on [•], 2025:**

Our Joint Proxy Statement is attached. Pursuant to rules promulgated by the U.S. Securities and Exchange Commission (the "SEC"), we have elected to provide access to our proxy materials both by sending you this full set of proxy materials, including the Joint Proxy Statement and the proxy card(s), and by notifying you of the availability of these proxy materials on the internet. **This Notice and the attached Joint Proxy Statement are available on the internet at [•].**

By order of each Boards, <br> Ivelisse M. Ortiz Moreau <br> Secretary

San Juan, Puerto Rico

[•], 2025

**PRELIMINARY COPY SUBJECT TO COMPLETION**

**DATED JULY 17, 2025**

**Tax Free Fund for Puerto Rico Residents, Inc.**

**[Insert Address]**

**Puerto Rico Residents Tax-Free Fund, Inc.**

**Puerto Rico Residents Tax-Free Fund VI, Inc.**

**[Insert Address]**

**[•], [•], 2025**

**JOINT PROXY STATEMENT**

**This Joint Proxy Statement is furnished in connection with the solicitation by the Board of each of TFF I, PRRTFF I and PRRTFF VI of proxies to be voted at the Special Meeting to be held at virtually at 10:00AM (Eastern time) on [•], 2025, and at any and all adjournments or postponements thereof. The Special Meeting will be held for the purposes set forth in the accompanying Notice of Special Meeting.**

Each Fund has determined to use this Joint Proxy Statement for its respective Special Meeting in light of the similar matters being considered and voted on by shareholders of each of the Funds. Shareholders should review the entire Joint Proxy Statement before voting on the Proposals. This Joint Proxy Statement and the accompanying materials are being mailed by the Boards on or about [•], 2025.

Each Fund is organized as a Puerto Rico corporation. Each Fund is a registered investment company under the Investment Company Act of 1940, as amended (the "1940 Act").

Shareholders of record of a Fund at the close of business on the Record Date are entitled to notice of and to vote at the Special Meeting of such Fund. With respect to the Proposals, each whole share shall be entitled to one vote and each fractional share shall be entitled to a proportionate fractional vote. Shareholders are not entitled to any appraisal rights as the result of the consideration of the Proposal at the Special Meeting.

The number of shares of each Fund outstanding as of the close of business on the Record Date is shown under the section titled, "Ownership of Shares of Each Fund" of this Joint Proxy Statement.

Shares represented by properly executed proxies received prior to the Special Meetings will be voted at the Special Meetings. On the matters coming before the Special Meetings as to which you as a shareholder have specified a choice on your proxy, your shares will be voted accordingly.

If a proxy card is properly executed and returned and no choice is specified with respect to the Proposals for a Fund, the shares will be voted "**FOR**" such Fund to cease operations as investment company and "**FOR**" the Fund to, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders. Shareholders who execute a proxy card or provide voting instructions by telephone or over the internet may revoke them with respect to a proposal (i) by filing with the applicable Fund a written notice of revocation (addressed to the Secretary of the Fund at the principal executive offices of the Fund at the address above), (ii) by delivering a duly executed proxy bearing a later date or (iii) by attending a Special Meeting and voting virtually, in all cases prior to the exercise of the authority granted in the proxy card. Merely attending the Special Meeting, however, will not revoke any previously executed proxy. If you hold shares through a bank or other intermediary, please consult your bank or intermediary regarding your ability to revoke voting instructions after such instructions have been provided. Satisfactory evidence of ownership of Fund shares as of the Record Date for each Special Meeting will be required to virtually attend and to vote at the Special Meetings.

Annual reports are sent to shareholders of record of each Fund following the Fund's fiscal year end. Each Fund's fiscal year end is set forth in the section titled, "Funds' Fiscal Year Ends as of the Record Date" of this Joint Proxy Statement. Each Fund will furnish, without charge, a copy of its annual report and most recent semi-annual report succeeding the annual report, if any, to a shareholder upon request. Such requests should be directed to the Fund at [•] or by calling toll free at [•]. Copies of annual and semi-annual reports of each Fund are also available on the Funds' website at [•] and on the EDGAR Database on the SEC's internet site at www.sec.gov.

Please note that only one annual or semi-annual report or Joint Proxy Statement may be delivered to two or more shareholders of a Fund who share an address, unless the Fund has received instructions to the contrary. To request a separate copy of an annual report or the Joint Proxy Statement, or for instructions as to how to request a separate copy of these documents or as to how to request a single copy if multiple copies of these documents are received, shareholders should contact the applicable Fund at the address and phone number set forth above.

**Vote Required and Manner of Voting Proxies**

A quorum of shareholders is required to take action at each Special Meeting. The presence at the TFF I and PRRTFF I Special Meetings virtually or representation by proxy of the holders of more than one-third of the outstanding shares will constitute a quorum. The presence at the PRRTFF VI Special Meetings virtually or representation by proxy of the holders of more than one-half of the outstanding shares will constitute a quorum.

Approval of each of the Proposals with respect to each Fund requires the vote of a majority of the outstanding voting securities of such Fund. Within the current context, and pursuant to the 1940 Act, a "vote of a majority of the outstanding voting securities" of a Fund means the affirmative vote of the lesser of (i) more than 50% of the outstanding shares of common stock of the Fund or (ii) 67% or more of the shares of common stock present at a shareholders meeting if more than 50% of the outstanding shares of common stock are represented at the meeting in person or by proxy.

Votes cast by proxy or in person at the Special Meetings will be tabulated by the inspectors of election appointed for the Special Meeting. The inspectors of election, who are employees of the proxy solicitor engaged by the Funds will determine whether or not a quorum is present at the Special Meeting.

The inspectors of election will treat abstentions as present for purposes of determining a quorum. "Broker non-votes" are shares held by brokers or nominees, typically in "street name," as to which proxies have been returned but (a) instructions have not been received from the beneficial owners or persons entitled to vote and (b) the broker or nominee does not have discretionary voting power on a particular matter because the proposal is considered non-routine under the rules of the New York Stock Exchange. The Proposals are considered "non-routine" under the rules of the New York Stock Exchange. Accordingly, because shareholders are being asked to vote only on non-routine proposals, there will be no broker non-votes at the Special Meeting.

If you hold your shares directly (i.e., not through a broker-dealer, bank or other financial institution), and if you return a signed proxy card that does not specify how you wish to vote on a Proposal, your shares will be voted "**FOR**" the Fund with respect to which you cast your vote to cease operations as an investment company under Proposal 1 and "**FOR**" such Fund to, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders under Proposal 2. Broker-dealer firms holding shares of a Fund in "street name" for the benefit of their customers and clients will request the instructions of such customers and clients on how to vote their shares on each of the Proposals before the Special Meeting. A broker-dealer that is a member of the New York Stock Exchange and that has not received instructions from a customer or client on or prior to the date specified in the broker-dealer firm's request for voting instructions may not vote such customer's or client's shares with respect to non-routine proposals, including the Proposals.

Abstentions and broker non-votes, if any, will be treated as votes "AGAINST" the Proposals. As noted above, broker non-votes are not expected with respect to the Proposals.

**Adjournments and Postponements**

With respect to the TFF I and PRRTFF I Special Meetings, only shareholders, upon the action of the majority of shares represented at such Special Meeting, have the authority to adjourn the Special Meeting, and may do so from time to time without notice if a quorum is not present. With respect to the PRRTFF VI Special Meeting, the action of the majority of shares represented at such Special Meeting, may adjourn the Special Meeting from time to time without notice if a quorum is not present.

If a quorum of a Fund's shareholders is not present at that Fund's Special Meeting, or if a quorum is present at the Special Meeting but sufficient votes to approve the Proposals are not received, or if other matters arise requiring shareholder attention, the persons named as proxies in the attached proxy card(s) may propose one or more adjournments of the Fund's Special Meeting(s) to permit further solicitation of proxies. Any such adjournment will require the affirmative vote of a majority of shares represented at the Special Meeting or represented by proxy. A shareholder vote may be taken on one or more proposals prior to such adjournment if sufficient votes for its approval have been received and it is otherwise appropriate. Such vote will be considered final regardless of whether the Special Meeting is adjourned to permit additional solicitation with respect to any other proposal.

The Special Meeting with respect to one or more Funds may be postponed prior to the Special Meeting for that Fund. If the Special Meeting for a Fund is postponed, such Fund will give notice of the postponement to shareholders.

**BACKGROUND TO THE PROPOSALS**

Tax Free Fund for Puerto Rico Residents, Inc. is organized as a Puerto Rico corporation. TFF I was originally organized on March 24, 2000 and commenced operations on February 28, 2001. The investment objective of TFF I is to provide current income, consistent with the preservation of capital. As of June 30, 2025, TFF I's total managed assets were $[•].

Puerto Rico Residents Tax-Free Fund, Inc. is organized as a Puerto Rico corporation. PRRTFF I was originally organized on August 26, 1994 and commenced operations on January 12, 1995. The investment objective of PRRTFF I is to achieve a high level of current income that, for Puerto Rico Residents, is exempt from U.S. federal and Puerto Rico income taxes, consistent with the preservation of capital. As of June 30, 2025, the PRRTFF I's total managed assets were $[•].

Puerto Rico Residents Tax-Free Fund VI, Inc. is organized as a Puerto Rico corporation. PRRTFF VI was originally organized on July 31, 1995 and commenced operations on September 29, 1995. The investment objective of PRRTFF VI is to achieve a high level of current income that, for Puerto Rico residents, is exempt from federal and Puerto Rico income taxes, consistent with the preservation of capital. As of June 30, 2025, PRRTFF VI's total managed assets were $[•].

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 its fund complex where they 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 election for the foregoing shareholder meetings certified the results of such elections (the "Meeting Certifications"), including the election of Ocean Capital's new Directors to each of the Funds and the certification of certain substantially similar shareholder proposals to terminate all investment advisory and management agreements between each of the Funds and UBS Asset Managers of Puerto Rico ("UBS") within sixty days of certification of the results of the shareholder meetings (each, an "Adviser Termination Proposal").

Shareholders of TFF I had approved its Adviser Termination Proposal at the 2024 annual meeting of shareholders held on July 18, 2024. Shareholders of PRRTFF I had approved its Adviser Termination Proposal at the 2023 annual meeting of shareholders ultimately held on April 14, 2024. Shareholders of PRRTFF VI approved its Adviser Termination Proposal at the 2024 annual meeting ultimately held on January 16, 2025. Following the First Circuit Ruling, and under the direction of the former members of the Boards, the Meeting Certifications certifying such proposals were issued on May 20, 2025. Since this time, UBS and the Funds have taken the position that the termination date for the investment advisory and management agreements between each of the Funds and UBS (the "UBS Agreements") is July 19, 2025 (the "Adviser Termination Date"), sixty days following the Meeting Certifications.

In addition, following the Meeting Certifications, the Boards engaged an independent consultant to assist in its search and evaluation of potential investment advisers for the Funds. By the end of this search process, the Boards had not identified any suitable firms to serve as the investment adviser for the Funds on a long-term basis. In light of the approaching Adviser Termination Date, the Boards then invited UBS to submit a bid to serve as an investment adviser to the Funds pursuant to an interim advisory agreement. On June 30, 2025, UBS informed the Boards that it would not be submitting a bid to serve as the investment adviser for the Funds beyond July 19, 2025, including on an interim basis.

After considering the risks with respect to each of the Fund's portfolios that could result from the Fund not having a suitable investment adviser after the Adviser Termination Date, among other factors, the Boards determined it to be in the best interest of shareholders to direct UBS to, as soon as reasonably practicable and in a manner consistent with UBS's fiduciary duties to the Funds (including by taking into consideration certain factors that UBS determines appropriate, including market considerations and manners of best execution), to begin the process of selling each Fund's securities and maintain each Fund's assets in cash, cash equivalents, or other low-risk, short-term assets. During its process, the Boards identified Atlas Asset Management, LLC ("Atlas"), a registered investment adviser that provides investment advisory services for individuals and institutional clients, as a suitable interim adviser to manage the Funds' securities on a transitional basis and, accordingly, on July 15, 2025, the Boards approved an interim investment advisory agreement between the Funds and Atlas, and the Funds subsequently entered into an interim investment advisory agreement with Atlas, effective July 20, 2025, for the management of each Fund's portfolio on a temporary basis. In considering its approval of the interim investment advisory agreement with Atlas, the Boards provided Atlas with the same direction to sell each Fund's securities as directed to UBS.

**Board Considerations in Declaring it Advisable that Each Fund Cease Operations as an Investment Company and Pay a Dividend to Shareholders with the Proceeds of the Sale(s) of Substantially All of the Fund's Securities.**

In approving and recommending that shareholders of each Fund vote to approve the Proposals, the Boards considered the following factors, among others, with respect to each Fund, and determined that the factors collectively supported the recommendation that the Funds should cease to operate as investment companies and, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;1.  ***Lack of a Suitable Long-Term Investment Adviser*** . Following the Meeting
 Certifications on May 20, 2025, the Adviser Termination Proposal was deemed to be adopted by the Funds' shareholders. As a
 result, UBS and the Funds took the position that the UBS Agreements will terminate on the Adviser
 Termination Date. Following the approvals of the Adviser Termination Proposals, the Boards considered a number of options in
 connection with pursuing a new investment adviser, including engaging an independent consultant to assist in the search and
 evaluation of potential investment advisers and entering an interim agreement with UBS. After exploring and evaluating these
 options, each of the Boards did not enter any agreements with any long-term investment adviser. The Boards' considerations
 were as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Engagement of Independent Consultant for Investment Adviser Search*** . The independent consultant conducted a request
 for proposal ("RFP") process that sought to lead to a recommendation to the Boards for engaging an alternative
 investment adviser for the Funds. The Boards determined the desired qualifications of potential candidates to serve as the
 investment adviser to the Funds and the independent consultant sent the RFP to prospective investment adviser candidates that met
 the established criteria. During discussions with the Boards, the independent consultant noted various items that potential
 candidates highlighted: (i) investing in Puerto Rico presents complications, as the economic environment and regulatory policies can
 create significant challenges; (ii) the requirement for the Funds to hold a substantial portion of their assets in Puerto Rico
 securities; (iii) reducing the current excessive discount rates of 45% to 55%; (iv) the Funds aren't achieving scale at their
 current size leading to high expense levels and; (v) the Funds' history of litigation. Given the extensive process conducted by the independent consultant in identifying a suitable long-term investment adviser, the Boards concluded that an
 additional search for a long-term investment adviser was not in the best interests of the shareholders at the time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Entering into an Interim Agreement with an Investment Adviser*** *.* The Boards considered the practicability of the
Funds entering into an interim investment adviser agreement following the termination of the UBS Agreements. Entering into an interim
investment adviser agreement would afford the Boards with the benefit of additional time to consider the different options available to
the Funds and offer the Funds convenience and practicability advantages. The Boards invited UBS to submit a bid to serve as an interim
investment adviser to the Funds on the same economic terms as the existing investment advisory agreement. On June 30, 2025, UBS informed
the Boards that it would not be submitting a bid for the foregoing purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Interim Agreement with Atlas*** *.* On July 15, 2025, the Boards approved an interim investment advisory
 agreement with Atlas for the management of each Fund's portfolio on a temporary basis, and the Funds subsequently entered into
 an interim investment advisory agreement with Atlas, effective July 20, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;2.  ***The Risk of Operating the Funds Without a Suitable Long-Term Investment Adviser*** . Following the termination of UBS
 as the Funds' investment adviser on the Adviser Termination Date, the Funds are without a suitable long-term investment
 adviser. As discussed above, the Boards identified, and entered into an investment advisory agreement, effective July 20, 2025,
 with, Atlas to serve on an interim basis and to manage the sale of the Funds' securities and resulting cash proceeds. Since
 each of the Fund's assets are invested primarily in securities of Puerto Rico issuers, the Funds have greater exposure to
 adverse economic, political or regulatory changes in Puerto Rico than a more geographically diversified fund, particularly with
 regard to municipal bonds issued by the Commonwealth of Puerto Rico and its related instrumentalities, which are currently
 experiencing significant price volatility and low liquidity. Thus, the lack of a suitable long-term investment adviser poses risks
 to the Funds and shareholders of the Funds for a variety of reasons, including the Funds being unable to effectively respond to
 market volatility, particularly as it pertains to Puerto Rican investments. Furthermore, the investment objectives of each of the
 Funds requires the Funds' investment strategies be consistent with the preservation of capital. Based on these considerations,
 including the lack of a long-term investment adviser, the Boards believe that each of the Funds will not be in a position to
 effectively preserve capital and that this is a risk for each of the Funds.

&nbsp;&nbsp;&nbsp;&nbsp;3.  ***Costs and Limited Growth Prospects*** *.* Each of the Funds is subject to ongoing annual operating costs that are high
relative to each of their current and ongoing asset bases. Moreover, as a consequence of their statuses as registered investment companies
under the 1940 Act, each of the Funds is subject to regulatory and compliance related costs, including costs related to legal services,
custody services, administration and audit fees and expenses, filing required periodic reports, and certain other fixed and variable costs.
These costs are borne indirectly by shareholders of the Funds. Given the size of the asset bases for each of the Funds, the Board believes
it is not practicable or advisable for the Funds to continue to incur these costs, which are largely incurred on account of the Funds
being regulated under the 1940 Act. Furthermore, the Funds have not offered new shares since they became registered investment companies
under the 1940 Act on May 14, 2021 (for TFF I) and May 21, 2021 (for PRRTFF I and PRRTFF VI). Given their focused investment strategies,
the Boards believe that there are limited distribution opportunities to grow these Funds. Due to the impracticability of the Funds having
to bear those ongoing and variable costs, and given the relatively small asset base of the Funds, and further complicated by the
Fund's focused investment strategy, the Boards believe that it is in the best interests of the Funds' shareholders for the
Funds to cease operations as investment companies.

&nbsp;&nbsp;&nbsp;&nbsp;4.  ***Tax Consequences*** . A discussion of the tax consequences considered by the Boards can
be found under the "General Income Tax Consequences" heading under the section titled, "Proposal 1: For the Funds to
Cease Operations as Investment Companies" of this Joint Proxy Statement.

&nbsp;&nbsp;&nbsp;&nbsp;5.  ***Realization of Liquidity Event at NAV*** . If approved by a Fund's shareholders, the sale of substantially all
 of its securities and the dividend payment to shareholders would allow shareholders of the Fund to realize the net asset value
 ("NAV") (less the costs associated with such sale of securities) for their shares, which would allow them to avoid the
 discount to NAV that shareholders would currently realize if they sold their shares in the market. The Board believes shareholders
 will benefit when, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such
 sale(s) to shareholders since the returns received by shareholders will align with the intrinsic value of the securities held by the
 Fund rather than the market value of the Fund's securities.

&nbsp;&nbsp;&nbsp;&nbsp;6.  ***Viable Alternative Options*** . The Boards considered alternatives to ceasing operations as an investment company,
 including converting the Funds from closed-end investment companies to open-end investment companies or ETFs, and a possible merger
 with other closed-end funds and determined that it was not in the best interests of shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Conversion to an Open-End Fund or ETF*** . The Boards believe that converting the Funds to an open-end fund or an ETF
 would not effectively address the lack of a suitable long-term investment adviser. Both types of products would require that
 investment support.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o  ***Merging into Other Closed-End Funds*** . Given the results of each of the Fund's recent annual meetings of
 shareholders, the Boards believe that the Funds' shareholders are unlikely to respond favorably to a proposal to merge the
 Funds with other closed-end funds, whether managed by UBS or another investment adviser, with shares trading at similar or larger
 discounts to NAV.

Given the risks with respect to each Fund's portfolio that could result from the Fund not being able to find a suitable long-term investment adviser following the termination of the UBS investment advisory agreement, and considering that the preservation of capital is central to each Fund's investment objectives, along with the additional factors discussed above, the Boards determined it to be in the best interest of shareholders to direct UBS and Atlas to begin to dispose of each Fund's securities as soon as reasonably practicable and in a manner consistent with their fiduciary duties to the Funds, taking into consideration such factors as the adviser determines appropriate, including market considerations and best execution. Having directed UBS and Atlas to take such actions, the Boards unanimously declare it advisable that each Fund cease operations as an investment company and for each Fund to, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders. As a result, the Boards recommend that shareholders of the Funds vote "**FOR**" Proposal 1 and "**FOR**" Proposal 2.

**PROPOSAL 1: FOR THE FUNDS TO CEASE OPERATIONS AS INVESTMENT COMPANIES**

At a Board meeting held on June 30, 2025, the Boards declared it advisable that each Fund cease operations as an investment company. At the Special Meeting, shareholders of each Fund will be asked to vote for their Fund to cease operating as an investment company. The Board unanimously recommends that shareholders of each Fund vote "**FOR**" Proposal 1.

**Impact on a Fund's Status Under the 1940 Act**

If the shareholders approve Proposal 1, the Fund will apply for deregistration under the 1940 Act and cease doing business as an investment company (including ceasing to invest assets in accordance with the Fund's investment objectives). It is expected that the SEC will issue an order approving the deregistration of such Fund if the Fund is no longer doing business as an investment company. The Fund will publicly announce important dates with respect to the deregistration of the Fund if and when they are determined.

If shareholders do not approve Proposal 1, the Fund will continue to be subject to the 1940 Act and continue to exist in accordance with its stated investment objectives and policies while the Board considers what, if any, steps to take in the best interest of the Fund and its shareholders, including the possibility of resubmitting Proposal 1 or alternative plan(s) to shareholders for consideration.

**Regulatory Effects of Deregistration**

As registered investment companies, the Funds are subject to regulation under the 1940 Act. The 1940 Act, among other things, (i) regulates the composition of the Boards; (ii) regulates the capital structure of the Funds by limiting the issuance of senior equity and debt securities and limiting the issuance of stock options, rights and warrants; (iii) prohibits certain transactions between the Funds and affiliated persons, including directors and officers of the Funds or affiliated companies, unless such transactions are exempted by the SEC; (iv) prohibits the issuance of common stock at less than NAV; (v) regulates the form, content and frequency of financial reports to shareholders; (vi) requires the Funds to carry their assets at fair value rather than at cost in financial reports; (vii) requires that the Funds file with the SEC periodic reports designed to disclose compliance with the 1940 Act and to present other financial information; (viii) prohibits the Funds from changing the nature of their business or fundamental investment policies without the prior approval of their shareholders; (ix) provides for the custody of securities and bonding of certain employees; (x) provides that no securities may be issued for services or for property other than cash or securities except as a dividend or a distribution to security holders or in connection with a reorganization; and (xi) regulates the manner in which repurchases of shares may be effected.

***Changes to Rights of Shareholders***. As registered investment companies, the Funds are subject to the provisions of, and the rules and regulations under, the 1940 Act, which impose restrictions on their business and investment activities. After the Funds cease operations as investment companies, the Funds will not be registered under the 1940 Act and, thus, shareholders of the Funds will not be afforded certain regulatory protections, including those that require: restrictions on borrowing and issuing senior securities; prohibition of certain transactions with affiliates; filing of a registration statement containing fundamental investment policies and shareholder approval of changes to such policies; dividend distributions and share repurchases conforming to certain rules; every share of common stock the Fund issues to be voting stock with voting rights equal to those of every other outstanding voting stock; banks to maintain custody of assets; and fidelity bonding.

If shareholders approve Proposal 1 and a Fund ceases operations as an investment company, the Fund would no longer be subject to the foregoing regulation, all of which is designed to protect the interests of shareholders.

**General Income Tax Consequences**

This discussion is based on the provisions of the Puerto Rico Internal Revenue Code of 2011, as amended (the "PRIRC") and the regulations issued thereunder as in effect on the date of this Joint Proxy Statement. New legislation, as well as administrative changes or court decisions, may significantly change the conclusions expressed herein, possibly with retroactive effect.

If Proposal 1 is approved and the Funds cease operations as investment companies, each Fund will no longer be considered a "Registered Investment Company" for purposes of Subchapter B of Chapter 11 of Subtitle A of the PRIRC and will be subject to Puerto Rico income taxes as a regular corporation as of the date of deregistration.

Accordingly, the Fund will no longer be exempt from the income taxes imposed by the PRIRC on regular corporations regardless of whether the Fund complies with the "90% Distribution Requirement" established under Section 1112.01(a)(2) of the PRIRC. As a regular corporation under the PRIRC, the Fund will also need to take into account, for purposes of determining its net income, capital gains and losses and interest income that is exempt under the PRIRC.

As a regular corporation, dividends paid by the Fund will be taxed under the general provisions of the PRIRC. Such general provisions currently provide for dividends that are paid to Puerto Rico individuals to be subject to a 15% withholding tax (the "15% Withholding Tax"). Such dividends may also cause a Puerto Rico individual to be subject to the Alternate Basic Tax of the PRIRC.

The 15% Withholding Tax must be withheld by the Fund and paid to the Puerto Rico Treasury Department. However, a Puerto Rico individual may elect not to be subject the 15% Withholding Tax in which case the dividends paid by the Funds to the Puerto Rico individual will not be subject to withholding but will be subject to regular individual income taxes.

Puerto Rico corporations receiving dividends will be taxed on such dividends at the regular corporate tax rates established by the PR Code but will be entitled to claim an 85% dividend received deduction with respect to such distributions.

**Required Vote**

The holders of common stock of each Fund will vote together as a single class on Proposal 1, which provides for the Fund to cease operations as investment companies.

To become effective, Proposal 1 requires the affirmative vote of the lesser of (i) more than 50% of the outstanding shares of common stock of the Fund or (ii) 67% or more of the shares of common stock present at a shareholders meeting if more than 50% of the outstanding shares of common stock are represented at the meeting in person or by proxy.

**Board Recommendation**

**For the reasons set forth above, the Board unanimously recommends that shareholders vote "FOR" Proposal 1 on the enclosed proxy card(s).**

**PROPOSAL 2: FOLLOWING A SALE OF SUBSTANTIALLY ALL OF THE FUND'S SECURITIES, PAY A DIVIDEND WITH THE PROCEEDS OF SUCH SALE(S) TO SHAREHOLDERS**

The Boards believes it to be in the best interest of shareholders to, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders to the maximum extent permitted by applicable law. The proceeds of such sales will remain in the Funds as cash or cash equivalents or other short-term assets until the dividend(s) are paid to shareholders. At the Special Meeting, shareholders of each Fund will be asked to vote for their Fund to, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders. The Board unanimously recommends that shareholders of each Fund vote "**FOR**" Proposal 2.

If shareholders approve Proposal 2, the Fund will set aside, in cash or cash equivalents, the amount of all known or reasonably ascertainable obligations of the Fund and make one or more dividend payments to shareholders to the maximum extent permitted by applicable law. The amounts of the dividend(s) to be paid to shareholders of a Fund will be reduced by the ordinary expenses and liabilities of the Fund, as described in more detail below.

**Additional Considerations with Respect to the Proposed Dividend Plan**

In addition to the other information contained in this Joint Proxy Statement, you should consider the following factors in determining whether to approve, following a sale of substantially all of the Fund's securities, the payment of a dividend with the proceeds of such sale(s) to shareholders.

If approved by shareholders, the Funds intend to pay an initial dividend to shareholders within [30] days of shareholder approval (the "Target Date").

***The Funds are not able to predict at this time the length of time it would take to complete the dividend payment to shareholders.*** Notwithstanding the approval of Proposal 2 at the Special Meeting by shareholders of a Fund, no Fund is able to predict when it will pay the dividend(s) to shareholders.

***The liquidity and market price of the shares of common stock of a Fund could decrease***. While the Funds will retain the proceeds of the sale of securities, the market capitalization of the shares of common stock of the Fund may diminish. Market interest in the shares of common stock of a Fund may also diminish. This could reduce the market demand for, and liquidity and price of, the shares of common stock of a Fund, which may adversely affect the market price of the shares of common stock of the Fund.

**Dividend Amounts**

On [•], 2025, the NAV per share of each Fund was: TFF I: $[•]; PRRTFF I: $[•]; PRRTFF VI: $[•]. The NAV per share of a Fund may change before the Special Meeting. The amounts of the dividend(s) to be paid to shareholders of a Fund will be reduced by the ordinary expenses and liabilities of the Fund. Any increase in such costs will be funded from the cash assets of the Fund and will reduce the amount available for shareholders. The Funds will bear the costs and expenses incurred by it in carrying out the dividend payments to shareholders.

**Required Vote**

The holders of common stock of each Fund will vote together as a single class on Proposal 2, which provides that the Funds will, following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.

To become effective, Proposal 2 requires the affirmative vote of the lesser of (i) more than 50% of the outstanding shares of common stock of the Fund or (ii) 67% or more of the shares of common stock present at a shareholders meeting if more than 50% of the outstanding shares of common stock are represented at the meeting in person or by proxy.

**Board Recommendation**

**For the reasons set forth above, the Board unanimously recommends that shareholders vote "FOR" Proposal 2 on the enclosed proxy card(s).**

**GENERAL**

The Board of each Fund knows of no other matters that are intended to be brought before the Special Meeting. As this is a special meeting, no additional business may be conducted beyond items listed in the Notice of Special Meeting. If, however, any other matters, including adjournments, are properly brought before the Special Meeting, the persons named in the accompanying form of proxy will vote thereon in accordance with their discretion.

**Please vote promptly by signing and dating each enclosed proxy card and returning it in the accompanying postage paid return envelope OR by following the enclosed instructions to similarly provide voting instructions by telephone or over the internet.**

By order of each Board, <br> Ivelisse M. Ortiz Moreau <br> Secretary

**FUNDS' FISCAL YEAR ENDS AS OF THE RECORD DATE**

---

| | |
|:---|:---|
| **Fund** | **Fiscal Year End** |
| Puerto Rico Residents Tax-Free Fund, Inc. | August 31 |
| Puerto Rico Residents Tax-Free Fund VI, Inc. | June 30 |
| Tax Free Fund for Puerto Rico Residents, Inc. | December 31 |

---

**OWNERSHIP OF SHARES OF EACH FUND**

**Shares Outstanding**

Only shareholders of record of a Fund as of the close of business on the Record Date are entitled to notice of and to vote at such Fund's Special Meeting. As of the Record Date, the following shares of common stock and preferred stock were issued and outstanding shares for each Fund:

---

| | | |
|:---|:---|:---|
| | **Common Stock** | **Preferred Stock** |
| Puerto Rico Residents Tax-Free Fund, Inc. | [7,919,405] | None |
| Puerto Rico Residents Tax-Free Fund VI, Inc. | [19,259,439] | None |
| Tax Free Fund for Puerto Rico Residents, Inc. | [11,130,794] | None |

---

**Security Ownership Of Certain Beneficial Owners and Directors**

The following tables sets forth certain information with respect to the beneficial ownership of each of the Fund's shares of common stock as of the Record Date for:

● each person or group of affiliated persons known by the Fund to be the beneficial owner of more than 5% of the Fund's shares of common stock;

● each of the Fund's named executive officers;

● each of the Fund's Directors; and

● all of the Fund's current executive officers and Directors as a group.

Shareholders who beneficially own 25% or more of the outstanding shares of a Fund or a class of shares of a Fund, or who are otherwise deemed to "control" the Fund, may be able to determine or significantly influence the outcome of matters submitted to a vote of the Fund's shareholders.

**Puerto Rico Residents Tax-Free Fund, Inc.**

---

| | | |
|:---|:---|:---|
| <br> **Name and Address of Beneficial Owner** | <br> **Number of Shares** | <br> **% of Class** |
| Ocean Capital LLC (1) | [961,867] | [12.1]% |
| RAD Investments, LLC (2) | [927,449] | [11.7]% |
| <br> **Directors** | <br> **Directors** | <br> **Directors** |
| Brent D. Rosenthal<br>[Address]<br>| 0 | \* |
| José R. Izquierdo II<br>[Address] | 0 | \* |

---

---

| | | |
|:---|:---|:---|
| Ian McCarthy<br>[Address] | 0 | \* |
| Ethan A. Danial (2)<br>[Address] | [927,449] | [11.7]% |
| Mojdeh L. Khaghan<br>[Address] | 0 | \* |
| <br> **Officers** | <br> 0 | <br> \* |
| Ivelisse M. Ortiz Moreau (Secretary) (3) | 0 | \* |
| **All Officers and Directors as a Group** <br> **(6 persons)**  | **[927,449]** | **[11.7]%** |

---

\* Represents beneficial ownership of less than one percent (1%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) According to a Schedule 13D/A filed with the SEC on March 17, 2025, Ocean
Capital LLC ("Ocean Capital") has shared voting and dispositive power with respect to the 944,867 shares of common stock held
by it; and William Heath Hawk ("Mr. Hawk") has shared voting and dispositive power with respect to 17,000 shares of common
stock held in a joint account of Mr. Hawk and his spouse and the 944,867 shares of common stock held by Ocean Capital by virtue of his
capacity as managing member of Ocean Capital. The business address of each of Ocean Capital and Mr. Hawk is GAM Tower, 2 Tabonuco St.,
Suite 200, Guaynabo, Puerto Rico 00968.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) As of May 13, 2025, RAD Investments, LLC has shared voting and
 dispositive power with respect to the 927,449 shares of common stock held by it. By virtue of his capacity as a manager of RAD
 Investments, LLC, Ethan A. Danial may be deemed to beneficially own the shares held by RAD Investments, LLC. According to a Schedule 13D/A filed with the SEC on March 17, 2025, the business address of
 RAD Investments, LLC is 954 Avenida Ponce De Leon, Suite 204 San Juan, Puerto Rico, 00907.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The address for Ms. Ortiz Moreau is 100 Carr. 6690, # 9102, Vega Alta, Puerto
Rico, 00692.

**Puerto Rico Residents Tax-Free Fund VI, Inc.**

---

| | | |
|:---|:---|:---|
| <br> **Name and Address of Beneficial Owner** | <br> **Number of Shares** | <br> **% of Class** |
| Ocean Capital LLC (1) | [1,179,217] | [6.1]% |
| **Directors** | **Directors** | **Directors** |
| Brent D. Rosenthal<br>[Address] | 0 | \* |
| José R. Izquierdo II<br>[Address] | 0 | \* |
| Ethan A. Danial (2)<br>[Address] | [340,805] | [1.8]% |
| Ian McCarthy<br>[Address] | 0 | \* |
| Mojdeh L. Khaghan<br>[Address] | 0 | \* |
| **Officers** | **Officers** | **Officers** |
| Ivelisse M. Ortiz Moreau (Secretary) (3) | 0 | \* |
| **All Officers and Directors as a Group** <br> **(6 persons)**  | **[340,805]** | **[1.8]%** |

---

\* Represents beneficial ownership of less than one percent (1%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) According to a Schedule 13D/A filed with the SEC on September 25, 2024,
Ocean Capital has shared voting and dispositive power with respect to the 1,144,408 shares of common stock held by it; and Mr. Hawk
has shared voting and dispositive power with respect to 34,809 shares of common stock held in a joint account of Mr. Hawk and his spouse
and the 1,144,408 shares of common stock held by Ocean Capital by virtue of his capacity as managing member of Ocean Capital LLC. The
business address of each of Ocean Capital and Mr. Hawk is GAM Tower, 2 Tabonuco St., Suite 200, Guaynabo, Puerto Rico 00968.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) As of May 13, 2025, RAD Investments, LLC has shared voting and
 dispositive power with respect to the 340,805 shares of common stock held by it. By virtue of his capacity as a manager of RAD
 Investments, LLC, Ethan A. Danial may be deemed to beneficially own the shares held by RAD Investments, LLC. According to a Schedule
 13D/A filed with the SEC on September 25, 2024, the business address of RAD Investments, LLC is 954 Avenida Ponce De Leon, Suite 204
 San Juan, Puerto Rico, 00907.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The address for Ms. Ortiz Moreau is 100 Carr. 6690, # 9102, Vega Alta, Puerto
Rico, 00692.

**Tax Free Fund for Puerto Rico Residents, Inc.**

---

| | | |
|:---|:---|:---|
| <br> **Name and Address of Beneficial Owner** | <br> **Number of Shares** | <br> **% of Class** |
| Ocean Capital LLC (1) | [1,479,364.25] | [13.3]% |
| <br> **Directors** | <br> **Directors** | <br> **Directors** |
| Brent D. Rosenthal<br>[Address] | 0 | \* |
| José R. Izquierdo II<br>[Address] | 0 | \* |
| Ethan A. Danial (2)<br>[Address] | [60,523] | [0.5%] |
| Ian McCarthy<br>[Address] | 0 | \* |
| Mojdeh L. Khaghan<br>[Address] | 0 | \* |
| Roxana Cruz-Rivera<br>[Address] | 0 | \* |
| **Officers** | 0 | \* |
| Ivelisse M. Ortiz Moreau (Secretary) (3) | 0 | \* |
| **All Officers and Directors as a Group** <br> **(7 persons)**  | **[60,523]** | **[0.5%]** |

---

\* Represents beneficial ownership of less than one percent (1%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) According to a Schedule 13D/A filed by Ocean Capital with the SEC on March
19, 2025, Ocean Capital has shared voting and dispositive power with respect to the 1,479,364.25 shares held by it. The business address
of each of Ocean Capital is GAM Tower, 2 Tabonuco St., Suite 200, Guaynabo, Puerto Rico 00968.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) As of May 13, 2025, RAD Investments, LLC has shared voting and
 dispositive power with respect to the 60,523 shares of common stock held by it. By virtue of his capacity as a manager of RAD
 Investments, LLC, Ethan A. Danial may be deemed to beneficially own the shares held by RAD Investments, LLC. According to a Schedule
 13D/A filed with the SEC on March 19, 2025, the business address of RAD Investments, LLC is 954 Avenida Ponce De Leon, Suite 204 San
 Juan, Puerto Rico, 00907.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The address for Ms. Ortiz Moreau is 100 Carr. 6690, # 9102, Vega Alta, Puerto
Rico, 00692.

**SUBMISSION OF SHAREHOLDER PROPOSALS**

**PRRTFF I**

Subject to shareholders' approval of the Proposals, PRRTFF I currently expects to hold its next annual shareholders' meeting on or about December 19, 2025, which is subject to change.

Shareholders may present proper proposals for inclusion in the proxy statement and for consideration at next the annual meeting of shareholders pursuant to Rule 14a-8 under the Exchange Act by submitting their proposals in writing to the Fund Secretary at the Fund's principal executive office at [Insert Address], in a timely manner. For a Rule 14a-8 shareholder proposal to be considered for inclusion in the Fund's proxy statement for the 2025 Annual Meeting of shareholders, the Fund's Secretary must receive the written proposal at the Fund's principal executive offices not later than July 29, 2025. In addition, such shareholder proposals must comply with the requirements of Rule 14a-8 under the Exchange Act regarding the inclusion of shareholder proposals in company-sponsored proxy materials.

As provided for in the Fund's Bylaws, at any annual or special meeting of shareholders, proposals by shareholders (other than pursuant to Rule 14a-8 under the Exchange Act) and persons nominated for election as Directors by shareholders shall be considered only if advance notice thereof has been timely given as provided herein, and such proposals or nominations are otherwise proper for consideration under applicable law and the Fund's Certificate of Incorporation and Bylaws. Notice of any proposal to be presented by any shareholder or the name of any person to be nominated by the shareholder for election as a Director of the Fund at any meeting of shareholders, shall be delivered to the Fund's Secretary at its principal executive office at [Insert Address] not less than thirty (30) days nor more than fifty (50) days prior to the date of the meeting; provided, however, that if the date of the meeting is first publicly announced or disclosed (in a public filing or otherwise) less than forty (40) days prior to the date of the meeting, such notice shall be given not more than ten (10) days after such date is first so announced or disclosed. Public notice shall be deemed to have been given more than forty (40) days in advance of the annual meeting, if the Fund shall have previously disclosed, in the Fund's Bylaws or otherwise, that the annual meeting in each year is to be held on a determinable date unless and until the Board determines to hold the meeting on a different date. To be timely for the 2025 Annual Meeting, notice of any proposal to be presented by any shareholder or the name of any person to be nominated by the shareholder for election as a Director of the Fund at the 2025 Annual Meeting shall be delivered to the Fund's Secretary at its principal executive office no later than November 19, 2025. Any shareholder who gives notice of any such proposal shall deliver therewith the text of the proposal to be presented and a brief written statement of the reasons why such shareholder favors the proposal and setting forth such shareholder's name and address, the number and class of all shares of stock of the Fund beneficially owned by such shareholder, and any material interest of such shareholder in the proposal (other than as a shareholder). Any shareholder desiring to nominate any person for election as a Director shall deliver with such notice a statement in writing setting forth the name of the person to be nominated, the number and class of all shares of stock of the Fund beneficially owned by such person, the information regarding such person as would be required by paragraphs (a), (e), and (f) of Item 401 of Regulation S-K adopted by the SEC (or the corresponding provisions of any regulation subsequently adopted by the SEC), such person's signed consent to serve as a Director of the Fund if elected, such shareholder's name and address as well as the number and class of all shares of stock of the Fund beneficially owned by such shareholder. The person presiding at the 2025 Annual Meeting, in addition to making any other determinations that may be appropriate to the conduct of the 2025 Annual Meeting, shall determine whether such notice has been duly given and shall direct that any such proposal and/or the respective nominee not be considered if such notice has not been given as provided herein.

**PRRTFF VI**

Subject to shareholder approval of the Proposals, PRRTFF VI currently expects to hold its next annual shareholders' meeting on or about October 17, 2025, which is subject to change.

Shareholders may present proper proposals for inclusion in the proxy statement and for consideration at the next annual meeting of shareholders pursuant to Rule 14a-8 under the Exchange Act by submitting their proposals in writing to the Fund Secretary at the Fund's principal executive office at [Insert Address], in a timely manner. For a Rule 14a-8 shareholder proposal to be considered for inclusion in our proxy statement for the 2025 Annual Meeting of shareholders, the Fund's Secretary must have received the written proposal at the Fund's principal executive offices not later than May 30, 2025. In addition, such shareholder proposals must comply with the requirements of Rule 14a-8 under the Exchange Act regarding the inclusion of shareholder proposals in company-sponsored proxy materials.

As provided for in the Fund's Bylaws, at any annual or special meeting of shareholders, proposals by shareholders (other than pursuant to Rule 14a-8 under the Exchange Act) and persons nominated for election as Directors by shareholders shall be considered only if advance notice thereof has been timely given as provided herein, and such proposals or nominations are otherwise proper for consideration under applicable law and the Fund's Certificate of Incorporation and Bylaws. Notice of any proposal to be presented by any shareholder or the name of any person to be nominated by the shareholder for election as a Director of the Fund at any meeting of shareholders, shall be delivered to the Fund's Secretary at its principal executive office at [Insert Address] not less than thirty (30) days nor more than fifty (50) days prior to the date of the meeting; provided, however, that if the date of the meeting is first publicly announced or disclosed (in a public filing or otherwise) less than forty (40) days prior to the date of the meeting, such notice shall be given not more than ten (10) days after such date is first so announced or disclosed. Public notice shall be deemed to have been given more than forty (40) days in advance of the annual meeting, if the Fund shall have previously disclosed, in the Fund's Bylaws or otherwise, that the annual meeting in each year is to be held on a determinable date unless and until the Board determines to hold the meeting on a different date. To be timely for the 2025 Annual Meeting, notice of any proposal to be presented by any shareholder or the name of any person to be nominated by the shareholder for election as a Director of the Fund at the 2025 Annual Meeting shall be delivered to the Fund's Secretary at its principal executive office no later than September 17, 2025. Any shareholder who gives notice of any such proposal shall deliver therewith the text of the proposal to be presented and a brief written statement of the reasons why such shareholder favors the proposal and setting forth such shareholder's name and address, the number and class of all shares of stock of the Fund beneficially owned by such shareholder, and any material interest of such shareholder in the proposal (other than as a shareholder). Any shareholder desiring to nominate any person for election as a Director shall deliver with such notice a statement in writing setting forth the name of the person to be nominated, the number and class of all shares of stock of the Fund beneficially owned by such person, the information regarding such person as would be required by paragraphs (a), (e), and (f) of Item 401 of Regulation S-K adopted by the SEC (or the corresponding provisions of any regulation subsequently adopted by the SEC), such person's signed consent to serve as a Director of the Fund if elected, such shareholder's name and address as well as the number and class of all shares of stock of the Fund beneficially owned by such shareholder. The person presiding at the 2025 Annual Meeting, in addition to making any other determinations that may be appropriate to the conduct of the 2025 Annual Meeting, shall determine whether such notice has been duly given and shall direct that any such proposal and/or the respective nominee not be considered if such notice has not been given as provided herein.

**TFF I**

Subject to shareholder approval of the Proposals, TFF I currently expects to hold the next annual shareholders' meeting on or about [December 19, 2025], which is subject to change.

Shareholders may present proper proposals for inclusion in the proxy statement and for consideration at the next annual meeting of shareholders pursuant to Rule 14a-8 under the Exchange Act by submitting their proposals in writing to the Fund Secretary at the Fund's principal executive office at [Insert Address], in a timely manner. [Since the date of the 2025 Annual Meeting will be more than 30 days from the date of the 2024 Annual Meeting, the deadline for a Rule 14a-8 shareholder proposal to be considered for inclusion in our proxy statement for the 2025 Annual Meeting of shareholders is a reasonable time before we begin to print and mail proxy materials. Such proposals must be delivered to the Fund's Secretary at the Fund's principal executive offices not later than July 29, 2025.] In addition, such shareholder proposals must comply with the requirements of Rule 14a-8 under the Exchange Act regarding the inclusion of shareholder proposals in company-sponsored proxy materials.

As provided for in the Fund's Bylaws, at any annual or special meeting of shareholders, proposals by shareholders (other than pursuant to Rule 14a-8 under the Exchange Act) and persons nominated for election as Directors by shareholders shall be considered only if advance notice thereof has been timely given as provided herein, and such proposals or nominations are otherwise proper for consideration under applicable law and the Fund's Certificate of Incorporation and Bylaws. Notice of any proposal to be presented by any shareholder or the name of any person to be nominated by the shareholder for election as a Director of the Fund at any meeting of shareholders, shall be delivered to the Fund's Secretary at its principal executive office at [Insert Address] not less than thirty (30) nor more than fifty (50) days prior to the date of the meeting; provided, however, that if the date of the meeting is first publicly announced or disclosed (in a public filing or otherwise) less than forty (40) days prior to the date of the meeting, such notice shall be given not more than ten (10) days after such date is first so announced or disclosed. Public notice shall be deemed to have been given more than forty (40) days in advance of the annual meeting, if the Fund shall have previously disclosed, in the Fund's Bylaws or otherwise, that the annual meeting in each year is to be held on a determinable date unless and until the Board determines to hold the meeting on a different date. To be timely for the 2025 Annual Meeting, notice of any proposal to be presented by any shareholder or the name of any person to be nominated by the shareholder for election as a Director of the Fund at the 2025 Annual Meeting shall be delivered to the Fund's Secretary at its principal executive office no later than November 19, 2025. Any shareholder who gives notice of any such proposal shall deliver therewith the text of the proposal to be presented and a brief written statement of the reasons why such shareholder favors the proposal and setting forth such shareholder's name and address, the number and class of all shares of stock of the Fund beneficially owned by such shareholder, and any material interest of such shareholder in the proposal (other than as a shareholder). Any shareholder desiring to nominate any person for election as a Director shall deliver with such notice a statement in writing setting forth the name of the person to be nominated, the number and class of all shares of stock of the Fund beneficially owned by such person, the information regarding such person as would be required by paragraphs (a), (e), and (f) of Item 401 of Regulation S-K adopted by the SEC (or the corresponding provisions of any regulation subsequently adopted by the SEC), such person's signed consent to serve as a Director of the Fund if elected, such shareholder's name and address as well as the number and class of all shares of stock of the Fund beneficially owned by such shareholder. The person presiding at the 2025 Annual Meeting, in addition to making any other determinations that may be appropriate to the conduct of the 2025 Annual Meeting, shall determine whether such notice has been duly given and shall direct that any such proposal and/or the respective nominee not be considered if such notice has not been given as provided herein.

**SHAREHOLDER COMMUNICATIONS**

Shareholders who wish to communicate with the Board or any individual Director should write to their Fund at the attention of Ivelisse M. Ortiz Moreau, Secretary of each of the Funds at the Fund's principal offices at [Insert Address] for TFF I and [Insert Address] for PRRTFF I and PRRTFF VI. The letter should indicate that you are a Fund shareholder. If the communication is intended for a specific Director and so indicates, it will be sent only to that Director. If a communication does not indicate a specific Director it will be sent to the Chair of the Nominating and Corporate Governance Committee and the outside counsel to the Independent Directors for further distribution as deemed appropriate by such persons.

Shareholders with complaints or concerns regarding accounting matters may address letters to the Secretary of each of the Funds, Ivelisse M. Ortiz Moreau. Shareholders who are uncomfortable submitting complaints to the Secretary may address letters directly to the Chair of the Audit Committee of the Board that oversees the Fund. Such letters may be submitted on an anonymous basis.

The SEC has adopted rules that permit companies and intermediaries (such as brokers and banks) to satisfy the delivery requirements for proxy statements and annual reports with respect to two or more shareholders sharing the same address by delivering a single proxy statement addressed to those shareholders.

Once you have received notice from your bank or broker that it will be householding communications to your address, householding will continue until you are notified otherwise or until you revoke your consent. If, at any time, you no longer wish to participate in householding and would prefer to receive a separate proxy statement and annual report, please notify your bank or broker and direct your request to the Fund's Secretary at [Insert Address] for TFF I and [Insert Address] for PRRTFF I and PRRTFF VI.

Shareholders who currently receive multiple copies of this Joint Proxy Statement at their address and would like to request householding of their communications should contact their bank or broker.

**METHOD OF SOLICITATION AND EXPENSES OF PROXY; PARTICIPANTS INFORMATION**

The cost of preparing, printing and mailing this Joint Proxy Statement, accompanying notice of special meeting and the accompanying proxy card for each Fund will be borne by the Fund. In addition to soliciting proxies by mail, the Funds may have one or more of the Funds' Directors, officers, representatives or compensated third-party agents, aid in the solicitation of proxies by telephone, facsimile, electronic mail, text message, internet, and other electronic means and by personal solicitation, and may request brokerage houses and other custodians, nominees and fiduciaries to forward proxy soliciting material to the beneficial owners of the shares held of record by such persons.

Each Fund has retained [• ("•")] to provide solicitation and advisory services in connection with this solicitation. [•] will be paid a fee not to exceed $[•] based upon the solicitation and advisory services provided and will be borne by the Funds. [In addition, the Funds will reimburse [•] for certain documented, out-of-pocket fees and expenses and will indemnify [•] against certain liabilities and expenses.]

[•] will solicit proxies from individuals, brokers, banks, bank nominees, and other institutional holders.

Shareholders may also be solicited by advertisements in periodicals, press releases issued by the Funds, letters from the Funds to shareholders, postings on the Funds' website and/or other websites, including, without limitation, social media websites. Unless expressly indicated otherwise, information contained on the Funds' website is not part of this Joint Proxy Statement. In addition, none of the information on the other websites listed in this Joint Proxy Statement is part of this Joint Proxy Statement. These website addresses are intended to be inactive textual references only.

Persons holding shares as nominees will be reimbursed by the Fund, upon request, for the reasonable expenses of mailing soliciting materials to the principals of the accounts.

Under applicable regulations of the SEC, each of the Directors is a "participant" in this proxy solicitation on behalf of the Boards. There are no executive officers of the Funds who are Participants. For information on the number of the Funds' securities beneficially owned by each Participant, please see the section titled, "Ownership of Shares of Each Fund." Except as described in this Joint Proxy Statement, no Participant owns any securities of the Funds of record but not beneficially.

Other than as set forth in this Joint Proxy Statement, no Director or Officer (including any Director or Officer that has served since the beginning of each Funds' last fiscal year (as listed in the section titled, "Funds' Fiscal Year Ends as of the Record Date")), or any associate thereof, has any substantial interest, direct or indirect, by security holdings or otherwise, in any matter to be acted upon at the Special Meeting.

Other than the persons described in this Joint Proxy Statement, no regular employees of the Funds have been or are to be employed to solicit shareholders in connection with this proxy solicitation. However, in the course of their regular duties, certain administrative personnel may be asked to perform clerical or ministerial tasks in furtherance of this solicitation. [•] does not believe that any of its owners, managers, officers, employees, affiliates, or controlling persons, if any, is a "participant" in this proxy solicitation.

**INVESTMENT ADVISER, ADMINISTRATOR, AND PRINCIPAL UNDERWRITER**

**PRRTFF I and PRRTFF VI**

Since the Adviser Termination Date, Atlas Asset Management has served as investment adviser to PRRTFF I and PRRTFF VI.

State Street Bank and Trust Company serves as the PRRTFF I's and PRRTFF VI's administrator. State Street Bank and Trust Company is located at One Congress Street, Boston, MA 02114.

**TFF I**

Since the Adviser Termination Date, Atlas Asset Management has served as investment adviser to TFF I.

[UBS Trust PR serves as the Fund's administrator. UBS Trust PR is located at 250 Muñoz Rivera Avenue, American International Plaza, Tenth Floor, San Juan, Puerto Rico 00918.]

[UBS Financial Services Puerto Rico serves as the Fund's principal underwriter. UBS Financial Services Puerto Rico is located at 250 Muñoz Rivera Avenue, American International Plaza, Penthouse Floors, San Juan, Puerto Rico 00918.]

PRELIMINARY COPY SUBJECT TO COMPLETION

DATED JULY 17, 2025

**Tax Free Fund for Puerto Rico Residents, Inc.**

**[Insert Address]** 

**PROXY** 

**THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS** 

The undersigned appoints each of Ethan A. Danial and Ivelisse M. Ortiz Moreau as attorneys and agents with full power of substitution, to vote all shares of common stock of **Tax Free Fund for Puerto Rico Residents, Inc.**, a Puerto Rico corporation (the "Fund"), that the undersigned would be entitled to vote at the Special Meeting of Shareholders of the Fund scheduled to be held on [•], 2025, at 10:00AM (Eastern Time), including at any adjournments or postponements thereof, with all powers that the undersigned would possess if personally present, upon and in respect of the instructions indicated herein, with discretionary authority as to any and all other matters that may properly come before the Special Meeting, including any motions to adjourn or postpone the Special Meeting to another time and/or place for the purpose of soliciting additional proxies, or any adjournment, postponement or substitution thereof that are unknown to the Board of Directors of the Fund a reasonable time before this solicitation.

The undersigned hereby revokes any other proxy or proxies heretofore given to vote or act with respect to said shares and hereby ratifies and confirms all action the herein named attorneys and proxies, their substitutes, or any of them may lawfully take by virtue hereof. This proxy will be valid until the sooner of one year from the date indicated on the reverse side and the completion of the Special Meeting (including any adjournments or postponements thereof).

IF YOU SUBMIT A VALIDLY EXECUTED PROXY CARD, IT WILL BE VOTED IN ACCORDANCE WITH YOUR INSTRUCTIONS. THE NAMED PROXIES WILL ALSO EXERCISE THEIR DISCRETION ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL MEETING, SUBJECT TO APPLICABLE LAW. IF YOU DO NOT INDICATE AN INSTRUCTION WITH RESPECT TO PROPOSAL 1, THE PROXY CARD WILL BE VOTED AS FOLLOWS WITH RESPECT TO SUCH PROPOSAL: "FOR" THE FUND TO CEASE OPERATIONS AS AN INVESTMENT COMPANY. IF YOU DO NOT INDICATE AN INSTRUCTION WITH RESPECT TO PROPOSAL 2, THE PROXY CARD WILL BE VOTED AS FOLLOWS WITH RESPECT TO SUCH PROPOSAL: "FOR" FOLLOWING A SALE OF SUBSTANTIALLY ALL OF THE FUND'S SECURITIES, THE PAYMENT OF A DIVIDEND WITH THE PROCEEDS OF SUCH SALE(S) TO SHAREHOLDERS.

**THE BOARD RECOMMENDS YOU VOTE "FOR" THE FOLLOWING PROPOSALS**

---

| | |
|:---|:---|
| 1. For the Fund to cease operations as an investment company.<br>◻ **FOR**<br>◻ **AGAINST**<br>◻ **ABSTAIN**<br>2. Following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.<br>◻ **FOR**<br>◻ **AGAINST**<br>◻ **ABSTAIN**<br>| The undersigned hereby acknowledges receipt of the Notice of Special Meeting of Shareholders to be held on [•], 2025, and the accompanying Joint Proxy Statement. The undersigned hereby revokes all proxies previously given by the undersigned to vote at the Special Meeting.<br>**PLEASE <u>SIGN</u>, <u>DATE</u> AND <u>PROMPTLY RETURN</u> THIS PROXY CARD USING THE ENCLOSED POSTAGE-PAID ENVELOPE**<br>**ONLY VALID IF SIGNED**. Please sign EXACTLY as name appears hereon. If more than one owner, each should sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer.<br>Date: _______________________<br>____________________________<br> (Name of shareholder)<br>____________________________<br> (Signature)<br>____________________________<br> (Title, if applicable) |

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PRELIMINARY COPY SUBJECT TO COMPLETION

DATED JULY 17, 2025

**Puerto Rico Residents Tax-Free Fund, Inc.**

**[Insert Address]**

**PROXY** 

**THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS** 

The undersigned appoints each of Ethan A. Danial and Ivelisse M. Ortiz Moreau as attorneys and agents with full power of substitution, to vote all shares of common stock of **Puerto Rico Residents Tax-Free Fund, Inc.**, a Puerto Rico corporation (the "Fund"), that the undersigned would be entitled to vote at the Special Meeting of Shareholders of the Fund scheduled to be held on [•], 2025, at 10:00AM (Eastern Time), including at any adjournments or postponements thereof, with all powers that the undersigned would possess if personally present, upon and in respect of the instructions indicated herein, with discretionary authority as to any and all other matters that may properly come before the Special Meeting, including any motions to adjourn or postpone the Special Meeting to another time and/or place for the purpose of soliciting additional proxies, or any adjournment, postponement or substitution thereof that are unknown to the Board of Directors of the Fund a reasonable time before this solicitation.

The undersigned hereby revokes any other proxy or proxies heretofore given to vote or act with respect to said shares and hereby ratifies and confirms all action the herein named attorneys and proxies, their substitutes, or any of them may lawfully take by virtue hereof. This proxy will be valid until the sooner of one year from the date indicated on the reverse side and the completion of the Special Meeting (including any adjournments or postponements thereof).

IF YOU SUBMIT A VALIDLY EXECUTED PROXY CARD, IT WILL BE VOTED IN ACCORDANCE WITH YOUR INSTRUCTIONS. THE NAMED PROXIES WILL ALSO EXERCISE THEIR DISCRETION ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL MEETING, SUBJECT TO APPLICABLE LAW. IF YOU DO NOT INDICATE AN INSTRUCTION WITH RESPECT TO PROPOSAL 1, THE PROXY CARD WILL BE VOTED AS FOLLOWS WITH RESPECT TO SUCH PROPOSAL: "FOR" THE FUND TO CEASE OPERATIONS AS AN INVESTMENT COMPANY. IF YOU DO NOT INDICATE AN INSTRUCTION WITH RESPECT TO PROPOSAL 2, THE PROXY CARD WILL BE VOTED AS FOLLOWS WITH RESPECT TO SUCH PROPOSAL: "FOR" FOLLOWING A SALE OF SUBSTANTIALLY ALL OF THE FUND'S SECURITIES, THE PAYMENT OF A DIVIDEND WITH THE PROCEEDS OF SUCH SALE(S) TO SHAREHOLDERS.

**THE BOARD RECOMMENDS YOU VOTE "FOR" THE FOLLOWING PROPOSALS**

---

| | |
|:---|:---|
| 1. For the Fund to cease operations as an investment company.<br>◻ **FOR**<br>◻ **AGAINST**<br>◻ **ABSTAIN**<br>2. Following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.<br>◻ **FOR**<br>◻ **AGAINST**<br>◻ **ABSTAIN**<br>| The undersigned hereby acknowledges receipt of the Notice of Special Meeting of Shareholders to be held on [•], 2025, and the accompanying Joint Proxy Statement. The undersigned hereby revokes all proxies previously given by the undersigned to vote at the Special Meeting.<br>**PLEASE <u>SIGN</u>, <u>DATE</u> AND <u>PROMPTLY RETURN</u> THIS PROXY CARD USING THE ENCLOSED POSTAGE-PAID ENVELOPE**<br>**ONLY VALID IF SIGNED**. Please sign EXACTLY as name appears hereon. If more than one owner, each should sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer.<br>Date: _______________________<br>____________________________<br> (Name of shareholder)<br>____________________________<br> (Signature)<br>____________________________<br> (Title, if applicable)<br>|

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PRELIMINARY COPY SUBJECT TO COMPLETION

DATED JULY 17, 2025

**Puerto Rico Residents Tax-Free Fund, Inc. VI**

**[Insert Address]**

**PROXY** 

**THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS** 

The undersigned appoints each of Ethan A. Danial and Ivelisse M. Ortiz Moreau as attorneys and agents with full power of substitution, to vote all shares of common stock of **Puerto Rico Residents Tax-Free Fund, Inc. VI**, a Puerto Rico corporation (the "Fund"), that the undersigned would be entitled to vote at the Special Meeting of Shareholders of the Fund scheduled to be held on [•], 2025, at 10:00AM (Eastern Time), including at any adjournments or postponements thereof, with all powers that the undersigned would possess if personally present, upon and in respect of the instructions indicated herein, with discretionary authority as to any and all other matters that may properly come before the Special Meeting, including any motions to adjourn or postpone the Special Meeting to another time and/or place for the purpose of soliciting additional proxies, or any adjournment, postponement or substitution thereof that are unknown to the Board of Directors of the Fund a reasonable time before this solicitation.

The undersigned hereby revokes any other proxy or proxies heretofore given to vote or act with respect to said shares and hereby ratifies and confirms all action the herein named attorneys and proxies, their substitutes, or any of them may lawfully take by virtue hereof. This proxy will be valid until the sooner of one year from the date indicated on the reverse side and the completion of the Special Meeting (including any adjournments or postponements thereof).

IF YOU SUBMIT A VALIDLY EXECUTED PROXY CARD, IT WILL BE VOTED IN ACCORDANCE WITH YOUR INSTRUCTIONS. THE NAMED PROXIES WILL ALSO EXERCISE THEIR DISCRETION ON ANY OTHER MATTERS THAT MAY PROPERLY COME BEFORE THE SPECIAL MEETING, SUBJECT TO APPLICABLE LAW. IF YOU DO NOT INDICATE AN INSTRUCTION WITH RESPECT TO PROPOSAL 1, THE PROXY CARD WILL BE VOTED AS FOLLOWS WITH RESPECT TO SUCH PROPOSAL: "FOR" THE FUND TO CEASE OPERATIONS AS AN INVESTMENT COMPANY. IF YOU DO NOT INDICATE AN INSTRUCTION WITH RESPECT TO PROPOSAL 2, THE PROXY CARD WILL BE VOTED AS FOLLOWS WITH RESPECT TO SUCH PROPOSAL: "FOR" FOLLOWING A SALE OF SUBSTANTIALLY ALL OF THE FUND'S SECURITIES, THE PAYMENT OF A DIVIDEND WITH THE PROCEEDS OF SUCH SALE(S) TO SHAREHOLDERS.

**THE BOARD RECOMMENDS YOU VOTE "FOR" THE FOLLOWING PROPOSALS**

---

| | |
|:---|:---|
| 1. For the Fund to cease operations as an investment company.<br>◻ **FOR**<br>◻ **AGAINST**<br>◻ **ABSTAIN**<br>2. Following a sale of substantially all of the Fund's securities, pay a dividend with the proceeds of such sale(s) to shareholders.<br>◻ **FOR**<br>◻ **AGAINST**<br>◻ **ABSTAIN**<br>| The undersigned hereby acknowledges receipt of the Notice of Special Meeting of Shareholders to be held on [•], 2025, and the accompanying Joint Proxy Statement. The undersigned hereby revokes all proxies previously given by the undersigned to vote at the Special Meeting.<br>**PLEASE <u>SIGN</u>, <u>DATE</u> AND <u>PROMPTLY RETURN</u> THIS PROXY CARD USING THE ENCLOSED POSTAGE-PAID ENVELOPE**<br> **ONLY VALID IF SIGNED**. Please sign EXACTLY as name appears hereon. If more than one owner, each should sign. When signing as attorney, executor, administrator, trustee or guardian, please give full title as such. If a corporation or partnership, please sign in full corporate or partnership name by authorized officer.<br>Date: _______________________<br>____________________________<br> (Name of shareholder)<br>____________________________<br> (Signature)<br>____________________________<br> (Title, if applicable)<br>|

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