0001046292 2020-04-29 2020-04-29 0001046292 gsvit:S000009356Member 2020-04-29 2020-04-29 2020-04-29 497 2019-12-31 GOLDMAN SACHS VARIABLE INSURANCE TRUST 0001046292 false 2021-01-08 2021-01-08 <center><b>GOLDMAN SACHS VARIABLE INSURANCE TRUST</b><br/><br/>Institutional and Service Shares of the<br/><br/><b>Goldman Sachs Strategic Growth Fund</b><br/>(the "Fund")<br/><br/>Supplement dated January 8, 2021 to the<br/>Prospectuses, Summary Prospectuses and Statement of Additional Information (the "SAI"),<br/>each dated April 29, 2020, as supplemented to date</center><br/><br/> At a special meeting of the shareholders of the Goldman Sachs Variable Insurance Trust held on January 8, 2021, the Fund's shareholders approved a proposal to change the Fund's sub-classification under the Investment Company Act of 1940, as amended, from "diversified" to "non-diversified" and eliminated the related fundamental investment restriction.<br/><br/>Accordingly, effective immediately, the Fund is "non-diversified" and may invest a greater portion of its assets in one or more issuers or in fewer issuers than "diversified" mutual funds.<br/><br/>As a "non-diversified" fund, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments. <center><b>GOLDMAN SACHS VARIABLE INSURANCE TRUST</b><br/><br/>Institutional and Service Shares of the<br/><br/><b>Goldman Sachs Strategic Growth Fund</b><br/>(the "Fund")<br/><br/>Supplement dated January 8, 2021 to the<br/>Prospectuses, Summary Prospectuses and Statement of Additional Information (the "SAI"),<br/>each dated April 29, 2020, as supplemented to date</center><br/><br/> At a special meeting of the shareholders of the Goldman Sachs Variable Insurance Trust held on January 8, 2021, the Fund's shareholders approved a proposal to change the Fund's sub-classification under the Investment Company Act of 1940, as amended, from "diversified" to "non-diversified" and eliminated the related fundamental investment restriction.<br/><br/>Accordingly, effective immediately, the Fund is "non-diversified" and may invest a greater portion of its assets in one or more issuers or in fewer issuers than "diversified" mutual funds.<br/><br/>As a "non-diversified" fund, the Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio, and may be more susceptible to greater losses because of these developments. N-1A