UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: (811-07513)

Exact name of registrant as specified in charter: Putnam Funds Trust

Address of principal executive offices: One Post Office Square, Boston, Massachusetts 02109

Name and address of agent for service: Robert T. Burns, Vice President
One Post Office Square
Boston, Massachusetts 02109

Copy to:         Bryan Chegwidden, Esq.
Ropes & Gray LLP
1211 Avenue of the Americas
New York, New York 10036

Registrant's telephone number, including area code: (617) 292-1000

Date of fiscal year end: November 30, 2017

Date of reporting period: August 31, 2017

Item 1. Schedule of Investments:

Putnam Short-Term Municipal Income Fund
The fund's portfolio
8/31/17 (Unaudited)
Key to holding's abbreviations
AGM — Assured Guaranty Municipal Corporation
BAM — Build America Mutual
COP — Certificates of Participation
FHA Insd. — Federal Housing Administration Insured
FRN — Floating Rate Notes: the rate shown is the current interest rate or yield at the close of the reporting period. Rates may be subject to a cap or floor.
G.O. Bonds — General Obligation Bonds
NATL — National Public Finance Guarantee Corp.
PSFG — Permanent School Fund Guaranteed
Q-SBLF — Qualified School Board Loan Fund
U.S. Govt. Coll. — U.S. Government Collateralized
VRDN — Variable Rate Demand Notes, which are floating-rate securities with long-term maturities that carry coupons that reset and are payable upon demand either daily, weekly or monthly. The rate shown is the current interest rate at the close of the reporting period. Rates are set by remarketing agents and may take into consideration market supply and demand, credit quality and the current SIFMA Municipal Swap Index rate, which was 0.79% as of the close of the reporting period
MUNICIPAL BONDS AND NOTES (93.4%)(a)
	Rating(RAT)	Principal amount	Value
Alabama (0.8%)
Jefferson, Cnty. Rev. Bonds (Warrants), 5.00%, 9/15/22	AA	$100,000	$116,669
			116,669
Arizona (1.5%)
AZ State Indl. Dev. Auth. Ed. 144A Rev. Bonds (BASIS Schools, Inc.), Ser. A, 4.00%, 7/1/21	BB	50,000	51,681
Glendale, Indl. Dev. Auth. Sr. Living Fac. Rev. Bonds (Royal Oaks Life Care Cmnty.), 4.00%, 5/15/22	A/F	100,000	110,423
Phoenix, Indl. Dev. Auth. Ed. Rev. Bonds (Great Hearts Academies), 3.75%, 7/1/24	BBB-	25,000	26,496
Phoenix, Indl. Dev. Auth. Ed. 144A Rev. Bonds (BASIS Schools, Inc.), 3.00%, 7/1/20	BB	25,000	25,154
			213,754
California (10.3%)
Bay Area Toll Auth. of CA Mandatory Put Bonds (4/2/18), Ser. B, 1.50%, 4/1/47	AA	200,000	200,110
CA State Dept. of Wtr. Resources FRN Mandatory Put Bonds (12/1/20) (Central Valley Wtr. Syst.), Ser. AU, 1.01%, 12/1/35	AAA	175,000	175,000
CA State Infrastructure & Econ. Dev. Bank FRN (J. Paul Getty Trust (The)), Ser. A-2, 1.362%, 10/1/47	Aaa	300,000	302,643
CA State Poll. Control Fin. Auth. Solid Waste Disp. 144A Mandatory Put Bonds (11/1/17) (Republic Svcs., Inc.), Ser. A, 1.25%, 8/1/23	A-2	150,000	150,006
CA Statewide Cmnty. Dev. Auth. Mandatory Put Bonds (4/1/18) (Southern CA Edison Co.), 1.375%, 4/1/28	Aa3	75,000	75,220
Corona-Norco, School Dist. Pub. Fin. Auth. Special Tax Bonds, Ser. A, 4.00%, 9/1/17	A-	25,000	25,000
Irvine, Special Tax Bonds (Cmnty. Fac. Dist. No. 2005), Ser. 2, 4.00%, 9/1/18	BBB+	75,000	77,120
Los Angeles, Dept. of Arpt. Rev. Bonds (Los Angeles Intl. Arpt.), Ser. A, 5.25%, 5/15/24	AA	20,000	20,645
Metro. Wtr. Dist. of Southern CA FRN, Ser. C, 0.84%, 7/1/47	A-1+	200,000	200,000
Riverside, Wtr. FRN Mandatory Put Bonds (1/15/20), Ser. A-17, 1.42%, 10/1/35	VMIG1	195,000	195,008
Roseville, Special Tax Bonds (Westpark Cmnty. Pub. Fac. Dist. No. 1), 4.00%, 9/1/19	BBB-/P	40,000	42,062
			1,462,814
Colorado (5.0%)
CO State Hlth. Fac. Auth. Hosp. Rev. Bonds (Evangelical Lutheran Good Samaritan Society), 5.00%, 6/1/20(FWC)	BBB	100,000	109,234
Denver City & Cnty., Arpt. FRN Mandatory Put Bonds (11/15/19) (Denver Intl. Arpt.), Ser. B, 1.726%, 11/15/31	A1	200,000	201,620
Denver City & Cnty., Arpt. Rev. Bonds, Ser. A, 4.00%, 11/15/17	A1	20,000	20,125
E-470 CO Pub. Hwy. Auth. FRN Mandatory Put Bonds (9/1/19) (Sr. Libor Index), Ser. A, 1.725%, 9/1/39	A3	100,000	100,736
High Plains Co. Metro. Dist. G.O. Bonds, NATL, 4.00%, 12/1/21	A	150,000	164,363
U. of CO Hosp. Auth. Mandatory Put Bonds (3/1/22) (UCHA Oblig. Group.), Ser. C-2, 5.00%, 11/15/38	Aa3	100,000	113,993
			710,071
Connecticut (1.8%)
CT State Hlth. & Edl. Fac. Auth. Mandatory Put Bonds (2/3/20) (Yale U.), Ser. A, 1.30%, 7/1/48	VMIG1	250,000	250,533
			250,533
Florida (4.1%)
Citizens Property Insurance Corp. Rev. Bonds, Ser. A1, 5.00%, 6/1/18	A1	180,000	181,829
Escambia Cnty., Hlth. Fac. Auth. Rev. Bonds
(Baptist Hlth. Care Corp. Oblig. Grp.), Ser. A, 5.125%, 8/15/20	A3	30,000	32,773
(Baptist Hosp., Inc.), 5.00%, 8/15/18	A3	60,000	62,243
Palm Beach Cnty., Hlth. Fac. Auth. Rev. Bonds (Acts Retirement-Life Cmnty.), 4.00%, 11/15/19	A-/F	100,000	105,814
Pasco Cnty., School Board COP, Ser. A, 5.00%, 8/1/18	A1	200,000	207,336
			589,995
Georgia (5.5%)
Atlanta, Wtr. & Waste Wtr. Rev. Bonds, 4.00%, 11/1/17	Aa2	240,000	241,205
Burke Cnty., Dev. Auth. Poll. Control Mandatory Put Bonds (4/3/18) (GA Pwr. Co. Plant Vogle), Ser. 5, 1.80%, 10/1/32	A3	200,000	200,524
Gainesville & Hall Cnty., Dev. Auth. Edl. Fac. Rev. Bonds (Riverside Military Academy), 5.00%, 3/1/27	BBB-/F	40,000	44,836
Main St. Natural Gas, Inc. Rev. Bonds
Ser. B, 5.00%, 3/15/20	Baa1	85,000	91,860
Ser. A, 5.00%, 3/15/18	A3	200,000	203,944
			782,369
Illinois (10.3%)
Chicago, G.O. Bonds, Ser. A
5.00%, 1/1/21	BBB+	50,000	53,593
5.00%, 1/1/19	BBB+	50,000	51,604
Chicago, Board of Ed. G.O. Bonds (School Reform), Ser. B-1, NATL, zero %, 12/1/17	A	185,000	184,040
Chicago, O'Hare Intl. Arpt. Rev. Bonds, Ser. D, AGM, 4.00%, 1/1/18	AA	75,000	75,754
Chicago, Transit Auth. Rev. Bonds (Federal Transit Administration Section 5307), 5.00%, 6/1/18	A	100,000	102,790
Chicago, Waste Wtr. Transmission Rev. Bonds, Ser. C, 5.00%, 1/1/19	A	100,000	104,836
Cook Cnty., G.O. Bonds, Ser. A, 4.00%, 11/15/17	AA-	100,000	100,579
IL State G.O. Bonds
Ser. A, 5.00%, 4/1/21	Baa3	100,000	108,022
5.00%, 2/1/18	Baa3	150,000	151,926
IL State Fin. Auth. Rev. Bonds
(Presbyterian Homes Oblig. Group), Ser. A, 5.00%, 11/1/23	A-/F	75,000	87,821
(Riverside Hlth. Syst.), 5.00%, 11/15/19	A+	100,000	107,922
Madison-Macoupin Etc. Cnty., Cmnty. College Dist. No. 536 G.O. Bonds (Lewis & Clark Cmnty. College)
AGM, 5.00%, 11/1/19	AA	85,000	85,524
U.S. Govt. Coll., 5.00%, 11/1/19 (Prerefunded 11/1/17)	AA	160,000	161,032
Metro. Pier & Exposition Auth. Rev. Bonds (McCormick Place Expansion), Ser. A, NATL, zero %, 6/15/18	A	100,000	98,553
			1,473,996
Kentucky (1.5%)
KY State Econ. Dev. Fin. Auth. Rev. Bonds (Owensboro Hlth.), Ser. A, 5.00%, 6/1/20	Baa3	45,000	48,651
KY State Property & Bldg. Comm. Rev. Bonds (No. 117), Ser. D, 5.00%, 5/1/21	A1	150,000	168,933
			217,584
Maryland (0.6%)
MD Econ. Dev. Corp. Rev. Bonds (Towson U. Sr. Student Hsg.), 4.00%, 7/1/20	BBB	85,000	90,771
			90,771
Massachusetts (2.4%)
MA State Dev. Fin. Agcy. Rev. Bonds
(UMass Memorial Hlth. Care Oblig. Group), Ser. I, 5.00%, 7/1/19	BBB+	100,000	106,145
(Caregroup, Inc.), Ser. I, 3.00%, 7/1/18	A3	100,000	101,669
MA State Hsg. Fin. Agcy. Rev. Bonds, Ser. SF-169, 4.00%, 12/1/44	Aa1	130,000	139,182
			346,996
Michigan (2.8%)
Great Lakes, Wtr. Auth. Supply Syst. Rev. Bonds, Ser. D, 5.00%, 7/1/24	Baa1	100,000	117,431
MI State Fin. Auth. Rev. Bonds (Henry Ford Hlth. Syst.), 5.00%, 11/15/19	A	100,000	108,285
MI State Strategic Fund Ltd. Rev. Bonds (United Methodist Retirement Cmntys., Inc.), 2.75%, 11/15/17	BBB+/F	75,000	75,203
Ypsilanti, School Dist. G.O. Bonds, Ser. A, Q-SBLF, 4.00%, 5/1/18	AA-	100,000	101,873
			402,792
Minnesota (2.7%)
Minneapolis & St. Paul, Hsg. & Redev. Auth. Hlth. Care VRDN (Allina Hlth. Syst.), Ser. B-2, 0.82%, 11/15/35	VMIG1	200,000	200,000
Minneapolis, Hlth. Care Syst. Rev. Bonds (Fairview Hlth. Svcs. Oblig. Group), Ser. A, 4.00%, 11/15/18	A+	100,000	103,629
MN State Res. Hsg. Fin. Agcy. Rev. Bonds, Ser. A, 4.00%, 7/1/38	Aa1	70,000	74,558
			378,187
Mississippi (1.8%)
MS State Bus. Fin. Commission Gulf Opportunity Zone VRDN (Chevron USA, Inc.), Ser. E, 0.84%, 12/1/30	VMIG1	250,000	250,000
			250,000
Missouri (2.1%)
MO State Hlth. & Edl. Fac. Auth. VRDN (WA U. (The)), Ser. C, 0.81%, 9/1/30	VMIG1	300,000	300,000
			300,000
Montana (0.5%)
MT State Board of Hsg. Rev. Bonds, Ser. A-2, FHA Insd., 3.00%, 12/1/43	Aa1	70,000	72,678
			72,678
Nebraska (0.7%)
Central Plains, Energy Rev. Bonds (NE Gas No. 1), Ser. A, 5.25%, 12/1/18	A3	100,000	105,321
			105,321
Nevada (2.2%)
Las Vegas, Redev. Agcy. Tax Alloc. Bonds, 5.00%, 6/15/22	BBB+	100,000	113,643
Reno, Sales Tax VRDN (Reno Trans. Rail Access Corridor (ReTRAC)), 0.94%, 6/1/42	VMIG1	195,000	195,000
			308,643
New Jersey (5.3%)
NJ State Econ. Dev. Auth. Rev. Bonds
Ser. B, 5.00%, 11/1/21	Baa1	100,000	110,674
(Biomedical Research Fac.), Ser. A, 5.00%, 7/15/19	Baa1	100,000	105,312
Ser. AAA, 5.00%, 6/15/19	Baa1	100,000	105,095
(School Fac.), Ser. GG, U.S. Govt. Coll., 5.00%, 9/1/17 (Escrowed to maturity)	Baa1	125,000	125,000
NJ State Hlth. Care Fac. Fin. Auth. Rev. Bonds (Princeton HealthCare Syst.), Ser. A, 5.00%, 7/1/19	Baa2	100,000	106,387
NJ State Trans. Trust Fund Auth. Rev. Bonds (Federal Hwy. Reimbursement Notes), 5.00%, 6/15/19	A+	200,000	210,190
			762,658
New Mexico (1.8%)
Farmington, Poll. Control Mandatory Put Bonds
(6/1/22) (Pub. Svcs. Co. of NM), Ser. B, 2.125%, 6/1/40	BBB+	100,000	101,013
(4/1/20) (Southern CA Edison Co.), Ser. A, 1.875%, 4/1/29	Aa3	150,000	152,439
			253,452
New York (11.8%)
Metro. Trans. Auth. Dedicated Tax Fund FRN Mandatory Put Bonds (6/1/22), Ser. A-2A, 1.24%, 11/1/26	AA	200,000	199,774
Monroe Cnty., G.O. Bonds, BAM, 4.00%, 6/1/19	AA	100,000	104,830
Niagara, Frontier Trans. Auth. Rev. Bonds (Buffalo Niagara Intl. Arpt.), Ser. B, 5.00%, 4/1/19	Baa1	150,000	158,965
NY State Dorm. Auth. Non-Supported Debt Rev. Bonds (Culinary Inst. of America), 5.00%, 7/1/19	Baa2	100,000	106,649
NY State Energy Research & Dev. Auth. Gas Fac. FRN (Brooklyn Union Gas), Ser. A-1, NATL, 1.383%, 12/1/20	A2	200,000	196,729
NY State Mtge. Agcy. Rev. Bonds (Homeowner), Ser. 186, 2.00%, 4/1/19	Aa1	500,000	506,080
Triborough, Bridge & Tunnel Auth. FRN Mandatory Put Bonds (12/3/19), Ser. B-2, 1.179%, 1/1/33	Aa3	300,000	299,892
TSASC, Inc. Rev. Bonds, Ser. A, 4.00%, 6/1/19	A	100,000	104,390
			1,677,309
Oregon (0.5%)
Multnomah Cnty., Hosp. Fac. Auth. Rev. Bonds (Terwilliger Plaza, Inc.), 3.00%, 12/1/18	BBB/F	75,000	76,697
			76,697
Pennsylvania (4.4%)
Cap. Region Wtr. Rev. Bonds, Ser. A, 5.00%, 7/15/18	A+	100,000	103,488
Montgomery Cnty., Indl. Dev. Auth. Rev. Bonds (Foulkeways at Gwynedd), 3.00%, 12/1/18	BBB	100,000	102,002
PA State Hsg. Fin. Agcy. Rev. Bonds, Ser. 115A, 1.60%, 10/1/17	AA+	50,000	50,022
PA State U. Rev. Bonds, Ser. A, 4.00%, 9/1/17	Aa1	100,000	100,000
Philadelphia, Auth for Indl. Dev. City Agreement Rev. Bonds (Cultural & Coml. Corridors Program), Ser. A, 4.00%, 12/1/18	A+	100,000	103,637
Philadelphia, School Dist. G.O. Bonds, Ser. D, 5.00%, 9/1/20	A2	50,000	54,418
State Public School Bldg. Auth. Palease Rev. Bonds (Philadelphia School Dist.), 5.00%, 6/1/23	A2	100,000	113,279
			626,846
Puerto Rico (0.9%)
Cmnwlth. of PR, G.O. Bonds (Pub. Impt.), Ser. A, NATL, 5.50%, 7/1/19	A	125,000	132,129
			132,129
Rhode Island (0.8%)
RI Hlth. & Edl. Bldg. Corp. Rev. Bonds (Lifespan Oblig. Group-Hosp. Fin.), 5.00%, 5/15/22	BBB+	100,000	113,608
			113,608
South Carolina (2.3%)
Myrtle Beach, Tax Allocation Bonds (Myrtle Beach Air Force Base), 5.00%, 10/1/19	A2	100,000	107,615
SC State Pub. Svcs. Auth. Rev. Bonds (Santee Cooper)
Ser. B, 4.00%, 12/1/19	A1	100,000	105,976
Ser. D, 5.00%, 12/1/22	A1	100,000	115,298
			328,889
Texas (5.6%)
Cypress-Fairbanks, Indpt. School Dist. Mandatory Put Bonds (8/17/20), Ser. B-2, PSFG, 1.40%, 2/15/40	Aaa	200,000	200,402
SA Energy Acquisition Pub. Fac. Corp. Rev. Bonds (Gas Supply), 5.50%, 8/1/25	A3	75,000	91,523
San Antonio, Elec. & Gas Syst. Mandatory Put Bonds
(12/1/19) Ser. A, 2.25%, 2/1/33	Aa2	200,000	204,886
(12/1/21) Ser. B, 2.00%, 2/1/33(FWC)	AA-	100,000	101,919
Tomball, Mandatory Put Bonds (8/15/19) (Indpt. School Bldg. & Dist.), Ser. B-3, PSFG, 1.10%, 2/15/43	Aaa	200,000	199,464
			798,194
Vermont (0.7%)
VT State Edl. & Hlth. Bldg. Fin. Agcy. Rev. Bonds (U. of VT Med. Ctr. (UVM)), Ser. A, 3.00%, 12/1/18	A3	100,000	102,413
			102,413
Virginia (1.1%)
Louisa, Indl. Dev. Auth. Poll. Control Mandatory Put Bonds (5/16/19) (VA Elec. Pwr. Co.), Ser. C, 1.85%, 11/1/35	A2	150,000	151,605
			151,605
Washington (0.7%)
WA State Hlth. Care Fac. Auth. FRN Mandatory Put Bonds (7/1/22) (Fred Hutchinson Cancer Research Ctr.), Ser. B, 1.93%, 1/1/42	A	100,000	100,642
			100,642
West Virginia (0.9%)
WV State Econ. Dev. Auth. Poll Control Rev. Bonds (Appalachian Pwr. Co. - Amos), Ser. C, 3.25%, 5/1/19	A-	50,000	50,978
WV State Econ. Dev. Auth. Solid Waste Disp. Fac. Mandatory Put Bonds (4/1/19) (Appalachian Pwr. Co. - Amos), Ser. A, 1.90%, 3/1/40	A-	75,000	75,557
			126,535
TOTAL INVESTMENTS
Total investments (cost $13,251,613)			$13,324,150

	Notes to the fund's portfolio
	Unless noted otherwise, the notes to the fund's portfolio are for the close of the fund's reporting period, which ran from December 1, 2016 through August 31, 2017 (the reporting period). Within the following notes to the portfolio, references to "ASC 820" represent Accounting Standards Codification 820 Fair Value Measurements and Disclosures, references to "Putnam Management" represent Putnam Investment Management, LLC, the fund's manager, an indirect wholly-owned subsidiary of Putnam Investments, LLC and references to "OTC", if any, represent over-the-counter.
(a)	Percentages indicated are based on net assets of $14,266,264.
(RAT)	The Moody's, Standard & Poor's or Fitch ratings indicated are believed to be the most recent ratings available at the close of the reporting period for the securities listed. Ratings are generally ascribed to securities at the time of issuance. While the agencies may from time to time revise such ratings, they undertake no obligation to do so, and the ratings do not necessarily represent what the agencies would ascribe to these securities at the close of the reporting period. Securities rated by Fitch are indicated by "/F." Securities rated by Putnam are indicated by "/P." The Putnam rating categories are comparable to the Standard & Poor's classifications. If a security is insured, it will usually be rated by the ratings organizations based on the financial strength of the insurer. For further details regarding security ratings, please see the Statement of Additional Information.
(FWC)	Forward commitment, in part or in entirety.
	At the close of the reporting period, the fund maintained liquid assets totaling $101,871 to cover the settlement of certain securities.
	144A after the name of an issuer represents securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
	On Mandatory Put Bonds, the rates shown are the current interest rates at the close of the reporting period and the dates shown represent the next mandatory put dates.
	The dates shown parenthetically on prerefunded bonds represent the next prerefunding dates.
	The dates shown on debt obligations are the original maturity dates.
	The fund had the following sector concentrations greater than 10% at the close of the reporting period (as a percentage of net assets):
	Utilities	18.7%
	Healthcare	14.5
	Local debt	11.5
	Security valuation: Portfolio securities and other investments are valued using policies and procedures adopted by the Board of Trustees. The Trustees have formed a Pricing Committee to oversee the implementation of these procedures and have delegated responsibility for valuing the fund's assets in accordance with these procedures to Putnam Management. Putnam Management has established an internal Valuation Committee that is responsible for making fair value determinations, evaluating the effectiveness of the pricing policies of the fund and reporting to the Pricing Committee.
	Tax-exempt bonds and notes are generally valued on the basis of valuations provided by an independent pricing service approved by the Trustees. Such services use information with respect to transactions in bonds, quotations from bond dealers, market transactions in comparable securities and various relationships between securities in determining value. These securities will generally be categorized as Level 2.
	Certain investments, including certain restricted and illiquid securities and derivatives are also valued at fair value following procedures approved by the Trustees. To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such valuations and procedures are reviewed periodically by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes, various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2 or as Level 3 depending on the priority of the significant inputs. The fair value of securities is generally determined as the amount that the fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.

ASC 820 establishes a three-level hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of the fund's investments. The three levels are defined as follows:
Level 1: Valuations based on quoted prices for identical securities in active markets.
Level 2: Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly.
Level 3: Valuations based on inputs that are unobservable and significant to the fair value measurement.
The following is a summary of the inputs used to value the fund's net assets as of the close of the reporting period:
		Valuation inputs
Investments in securities:	Level 1	Level 2	Level 3
Municipal bonds and notes	$—	$13,324,150	$—
Totals by level	$—	$13,324,150	$—
During the reporting period, transfers within the fair value hierarchy, if any, did not represent, in the aggregate, more than 1% of the fund's net assets measured as of the end of the period. Transfers are accounted for using the end of period pricing valuation method.
For additional information regarding the fund please see the fund's most recent annual or semiannual shareholder report filed on the Securities and Exchange Commission's Web site, www.sec.gov, or visit Putnam's Individual Investor Web site at www.putnaminvestments.com

Item 2. Controls and Procedures:

(a) The registrant's principal executive officer and principal financial officer have concluded, based on their evaluation of the effectiveness of the design and operation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the design and operation of such procedures are generally effective to provide reasonable assurance that information required to be disclosed by the registrant in this report is recorded, processed, summarized and reported within the time periods specified in the Commission's rules and forms.

(b) Changes in internal control over financial reporting: Not applicable

Item 3. Exhibits:

Separate certifications for the principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Putnam Funds Trust

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Accounting Officer
Date: October 27, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title):

/s/ Jonathan S. Horwitz
Jonathan S. Horwitz
Principal Executive Officer
Date: October 27, 2017

By (Signature and Title):

/s/ Janet C. Smith
Janet C. Smith
Principal Financial Officer
Date: October 27, 2017