J.P. MORGAN FUNDS

JPMorgan Global Allocation Fund

(Class R2, Class R3, Class R4, Class R5 and Class R6 Shares)

JPMorgan Income Builder Fund

(Class R6 Shares)

(each, a “Fund” and collectively, the “Funds”)

(each, a series of JPMorgan Trust I)

Supplement dated June 3, 2019

to the Summary Prospectuses and Prospectus dated March 1, 2019

Effective immediately, the Annual Fund Operating Expenses and Example tables for each Fund are hereby deleted in their entirety and replaced with the following:

For the JPMorgan Global Allocation Fund:

ANNUAL FUND OPERATING EXPENSES1 (Expenses that you pay each year as a percentage of the value of your investment)
	Class R2			Class R3			Class R4			Class R5			Class R6
Management Fees		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%
Distribution (Rule 12b-1) Fees		0.50			0.25			NONE			NONE			NONE
Other Expenses		0.45			0.45			0.45			0.30			0.17
Dividend Expense on Short Sales		0.04			0.04			0.04			0.04			0.04
Service Fees		0.25			0.25			0.25			0.10			NONE
Remainder of Other Expenses1		0.16			0.16	2		0.16	2		0.16	2		0.13
Acquired Fund Fees and Expenses		0.02			0.02			0.02			0.02			0.02
Total Annual Fund Operating Expenses		1.57			1.32			1.07			0.92			0.79
Fee Waivers and/or Expense Reimbursements3		(0.13	)		(0.13	)		(0.13	)		(0.13	)		(0.10	)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements3		1.44			1.19			0.94			0.79			0.69

1 “Remainder of Other Expenses” has been calculated based on the actual other expenses incurred in the most recent fiscal year, except that these expenses have been adjusted to reflect the contractual change in administration fee effective 1/1/19.

2 “Remainder of Other Expenses” is based on estimated amounts for the current fiscal year.

3 The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, extraordinary expenses and Acquired Fund Fees and Expenses relating to funds for which the Fund’s adviser or an affiliate thereof is not the adviser) exceed 1.40%, 1.15%, 0.90%, 0.75% and 0.65% of the average daily net assets of Class R2, Class R3, Class R4, Class R5 and Class R6 Shares, respectively (the “fee limitation amount”). To the extent that the Fund invests in a fund for which the Fund’s adviser or an affiliate thereof is the adviser (an “affiliated fund”), then the fee limitation amount will include, as applicable, (i) an amount sufficient to offset the respective net advisory, net administration and net shareholder servicing fees of that affiliated fund, or (ii) the management fee paid to the adviser pursuant to the affiliated fund’s management agreement. These waivers are in effect through 5/31/20, at which time it will be determined whether such waivers will be renewed or revised. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 5/31/20 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

SUP-GALIB-R-619

WHETHER OR NOT SELL YOUR SHARES, YOUR COST WOULD BE:
	1 Year		3 Years		5 Years		10 Years
CLASS R2 SHARES ($)		147		483		843		1,856
CLASS R3 SHARES ($)		121		406		711		1,579
CLASS R4 SHARES ($)		96		327		578		1,294
CLASS R5 SHARES ($)		81		280		497		1,119
CLASS R6 SHARES ($)		70		242		429		969

For the JPMorgan Income Builder Fund:

ANNUAL FUND OPERATING EXPENSES1 (Expenses that you pay each year as a percentage of the value of your investment)
	Class R6
Management Fees		0.45	%
Distribution (Rule 12b-1) Fees		NONE
Other Expenses		0.11
Service Fees		NONE
Remainder of Other Expenses1		0.11
Acquired Fund Fees and Expenses		0.01
Total Annual Fund Operating Expenses		0.57
Fee Waivers and/or Expense Reimbursements2		(0.05	)
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements2		0.52

1 “Remainder of Other Expenses” has been calculated based on the actual other expenses incurred in the most recent fiscal year, except that these expenses have been adjusted to reflect the contractual change in administration fee effective 1/1/19.

2 The Fund’s adviser and/or its affiliates have contractually agreed to waive fees and/or reimburse expenses to the extent Total Annual Fund Operating Expenses (excluding dividend and interest expenses related to short sales, interest, taxes, expenses related to litigation and potential litigation, expenses related to trustee elections, extraordinary expenses and Acquired Fund Fees and Expenses relating to funds for which the Fund’s adviser or an affiliate thereof is not the adviser) exceed 0.52% of the average daily net assets of Class R6 Shares (the “fee limitation amount”). To the extent that the Fund invests in a fund for which the Fund’s adviser or an affiliate thereof is the adviser (an “affiliated fund”), then the fee limitation amount will include, as applicable, (i) an amount sufficient to offset the respective net advisory, net administration and net shareholder servicing fees of that affiliated fund, or (ii) the management fee paid to the adviser pursuant to the affiliated fund’s management agreement. These waivers are in effect through 5/31/20, at which time it will be determined whether such waivers will be renewed or revised. To the extent that the Fund engages in securities lending, affiliated money market fund fees and expenses resulting from the Fund’s investment of cash received from securities lending borrowers are not included in Total Annual Fund Operating Expenses and therefore, the above waivers do not apply to such investments.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses are equal to the total annual fund operating expenses after fee waivers and expense reimbursements shown in the fee table through 5/31/20 and total annual fund operating expenses thereafter. Your actual costs may be higher or lower.

WHETHER OR NOT SELL YOUR SHARES, YOUR COST WOULD BE:
	1 Year		3 Years		5 Years		10 Years
CLASS R6 SHARES ($)		53		178		313		709

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE

SUMMARY PROSPECTUSES AND PROSPECTUS FOR FUTURE REFERENCE