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Supplement dated December 9, 2013

to the Prospectus of the following fund:

 

Fund Prospectus Dated
Columbia Funds Series Trust I  
   Columbia  Active Portfolios® - Select Large Cap Growth Fund 8/1/2013

Effective December 11, 2013 (the Effective Date), the Fund’s name will change to Active Portfolios® Multi-Manager Growth Fund. Accordingly, effective on such date, all references in the Prospectus to Columbia Active Portfolios®- Select Large Cap Growth Fund are deleted and replaced with Active Portfolios® Multi-Manager Growth Fund. In addition, the following changes are hereby made to the Fund’s prospectus on the Effective Date:

On the Effective Date, the information under the caption “Principal Investment Strategies” in the “Summary of the Fund” section is hereby superseded and replaced with the following:

The Fund invests primarily in common stocks of companies believed to have the potential for long-term growth. The Fund may invest in foreign securities, including emerging market securities, directly or indirectly through depositary receipts.

The Fund will not concentrate its assets in any single industry but may from time to time invest more than 25% of its assets in companies conducting business in various industries within an economic sector.

Until February 28, 2014, the Fund will operate under an investment policy to invest, under normal circumstances, at least 80% of its net assets (including the amount of any borrowings for investment purposes) in common stocks of U.S. and foreign companies that have market capitalizations, at the time of purchase, in the range of companies in the Russell 1000 Growth Index (the Index). The market capitalization range of the companies included within the Index was $406 million to $490.3 billion as of October 31, 2013.

Columbia Management Investment Advisers, LLC (Columbia Management or the Investment Manager) serves as the investment manager for the Fund and will attempt to achieve the Fund’s objective by managing a portion of the Fund’s assets (the Columbia Management sleeve) and selecting one or more subadvisers to manage other sleeves independently of each other and Columbia Management. A portion of the Fund’s assets is subadvised by Loomis, Sayles & Company, L.P. (Loomis Sayles). The subadviser and Columbia Management use their own methodology for selecting investments.

On the Effective Date, the information under the caption "Principal Risks" in the "Summary of the Fund" section is hereby modified by adding the following disclosure to the existing list of risks:

Multi-Adviser Risk. The Fund has multiple advisory firms that each manage a portion of the Fund’s net assets on a daily basis. Each adviser makes investment decisions independently from the other adviser(s). It is possible that the security selection process of one adviser will not complement or may conflict or even contradict that of the other adviser(s), including making off-setting trades that have no net effect to the Fund, but which may increase Fund expenses. As a result, the Fund's exposure to a given security, industry, sector or market capitalization could be smaller or larger than if the Fund were managed by a single adviser, which could affect the Fund's performance.

The rest of the section remains the same.