497

California High-Yield Municipal Fund

California Intermediate-Term Tax-Free Bond Fund

(the "Funds")

August 18, 2017

EXPLANATORY NOTE

On behalf of the Funds, each a series of American Century California Tax-Free Municipal Funds (the “Corporation”), and pursuant to Rule 497(e) under the Securities Act of 1933, as amended (the “Securities Act”), the purpose of this filing is to submit an interactive data file in the manner provided by Rule 405 of Regulation S-T and General Instruction C.3.(g) of Form N-1A. The interactive data file included as an exhibit to this filing relates to the prospectus supplement filed with the Securities and Exchange Commission on behalf of the Corporation pursuant to Rule 497(e) under the Securities Act on July 28, 2017; such filing (Accession Number 0000827060-17-000153) is incorporated by reference into this Rule 497 Document.

EXHIBIT INDEX

EXHIBIT NUMBER	DESCRIPTION OF DOCUMENT
Exhibit - 101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
Exhibit - 101.INS	XBRL Instance Document
Exhibit - 101.SCH	XBRL Taxonomy Extension Schema Document
Exhibit - 101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document
Exhibit - 101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
Exhibit - 101.LAB	XBRL Taxonomy Extension Label Linkbase Document

XML

Jul. 31, 2017

AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS

Summary Prospectus and Prospectus Supplement

Supplement dated July 31, 2017

Core Equity Plus Fund

(Summary Prospectus and Prospectus dated November 1, 2016)

Capital Value Fund

(Summary Prospectus and Prospectus dated March 1, 2017)

Emerging Markets Small Cap Fund n Focused International Growth Fund n Global Small Cap Fund

(Summary Prospectuses and Prospectuses dated April 1, 2017)

AC Alternatives Disciplined Long Short Fund

(Summary Prospectus and Prospectus dated November 1, 2016 (as revised April 10, 2017))

California High-Yield Municipal Fund n California Intermediate-Term Tax-Free Bond Fund

Real Estate Fund n AC Alternatives Income Fund n AC Alternatives Long Short Fund

AC Alternatives Multi-Strategy Fund n High-Yield Municipal Fund n Intermediate-Term Tax-Free Bond Fund Growth Fund n Heritage Fund n Sustainable Equity Fund n Ultra Fund

AC Alternatives Emerging Opportunities Total Return Fund n AC Alternatives Equity Market Neutral Fund Disciplined Growth Fund n Equity Growth Fund n Income & Growth Fund n Multi-Asset Real Return Fund Small Company Fund n Multi-Asset Income Fund n Strategic Allocation: Aggressive Fund

Strategic Allocation: Conservative Fund n Strategic Allocation: Moderate Fund

(Summary Prospectuses and Prospectuses dated April 10, 2017)

The following is added as the third sentence in the Example section of the summary prospectuses and prospectuses. All three classes may not be available for all funds.

You may be required to pay brokerage commissions on your purchases of Investor, I or Y Class shares of the fund, which are not reflected in the example. 

The following is added as the third bullet point under the subsection Waivers for Certain Investors under the Reductions and Waivers of Sales Charges for A Class section of the prospectuses.

• Purchases in accounts of financial intermediaries that have entered into a selling agreement with American Century Investments that allows for the waiver of the sales charge in brokerage accounts that may or may not charge a transaction fee

The following language is added as the last paragraph under the Buying and Selling Shares Through a Financial Intermediary section of the prospectuses. All three classes may not be available for all funds.

Investor, I and Y Class shares may also be available on brokerage platforms of financial intermediaries that have agreements with American Century Investments to offer such shares solely when acting as an agent for the shareholder.  A shareholder transacting in Investor, I or Y Class shares in these programs may be required to pay a commission and/or other forms of compensation to the broker.  Shares of the fund are available in other share classes that have different fees and expenses. 

The following sub-section is added in the Additional Policies Affecting Your Investment section after the sub-section Redemption of Shares in Accounts Below Minimum in the prospectuses.

Small Distributions and Uncashed Distribution Checks

Generally, dividends and distributions cannot be paid by check for an amount less than $50. Any such amount will be automatically reinvested in additional shares. The fund reserves the right to reinvest any dividend or distribution amount you elect to receive by check if your check is returned as undeliverable or if you do not cash your check within six months. Interest will not accrue on the amount of your uncashed check. We will reinvest your check into your account at the NAV on the day of reinvestment. When reinvested, those amounts are subject to the risk of loss like any other fund investment. We also reserve the right to change your election to receive dividends and distributions in cash after a check is returned undeliverable or uncashed for the six month period, and we may automatically reinvest all future dividends and distributions at the NAV on the date of the payment.

©2017 American Century Proprietary Holdings, Inc. All rights reserved.

CL-SPL-93030 1707

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Prospectus:

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497

Document Period End Date

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Jul. 28, 2017

Entity Registrant Name

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AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS

Central Index Key

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0000717316

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false

Document Creation Date

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Jul. 28, 2017

Document Effective Date

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Apr. 10, 2017

Prospectus Date

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Apr. 10, 2017

AMERICAN CENTURY CALIFORNIA TAX FREE & MUNICIPAL FUNDS

Prospectus:

rr_ProspectusTable

Supplement [Text Block]

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Summary Prospectus and Prospectus Supplement

Supplement dated July 31, 2017

Core Equity Plus Fund

(Summary Prospectus and Prospectus dated November 1, 2016)

Capital Value Fund

(Summary Prospectus and Prospectus dated March 1, 2017)

Emerging Markets Small Cap Fund n Focused International Growth Fund n Global Small Cap Fund

(Summary Prospectuses and Prospectuses dated April 1, 2017)

AC Alternatives Disciplined Long Short Fund

(Summary Prospectus and Prospectus dated November 1, 2016 (as revised April 10, 2017))

California High-Yield Municipal Fund n California Intermediate-Term Tax-Free Bond Fund

Real Estate Fund n AC Alternatives Income Fund n AC Alternatives Long Short Fund

AC Alternatives Multi-Strategy Fund n High-Yield Municipal Fund n Intermediate-Term Tax-Free Bond Fund Growth Fund n Heritage Fund n Sustainable Equity Fund n Ultra Fund

AC Alternatives Emerging Opportunities Total Return Fund n AC Alternatives Equity Market Neutral Fund Disciplined Growth Fund n Equity Growth Fund n Income & Growth Fund n Multi-Asset Real Return Fund Small Company Fund n Multi-Asset Income Fund n Strategic Allocation: Aggressive Fund

Strategic Allocation: Conservative Fund n Strategic Allocation: Moderate Fund

(Summary Prospectuses and Prospectuses dated April 10, 2017)

The following is added as the third sentence in the Example section of the summary prospectuses and prospectuses. All three classes may not be available for all funds.

You may be required to pay brokerage commissions on your purchases of Investor, I or Y Class shares of the fund, which are not reflected in the example. 

The following is added as the third bullet point under the subsection Waivers for Certain Investors under the Reductions and Waivers of Sales Charges for A Class section of the prospectuses.

• Purchases in accounts of financial intermediaries that have entered into a selling agreement with American Century Investments that allows for the waiver of the sales charge in brokerage accounts that may or may not charge a transaction fee

The following language is added as the last paragraph under the Buying and Selling Shares Through a Financial Intermediary section of the prospectuses. All three classes may not be available for all funds.

Investor, I and Y Class shares may also be available on brokerage platforms of financial intermediaries that have agreements with American Century Investments to offer such shares solely when acting as an agent for the shareholder.  A shareholder transacting in Investor, I or Y Class shares in these programs may be required to pay a commission and/or other forms of compensation to the broker.  Shares of the fund are available in other share classes that have different fees and expenses. 

The following sub-section is added in the Additional Policies Affecting Your Investment section after the sub-section Redemption of Shares in Accounts Below Minimum in the prospectuses.

Small Distributions and Uncashed Distribution Checks

Generally, dividends and distributions cannot be paid by check for an amount less than $50. Any such amount will be automatically reinvested in additional shares. The fund reserves the right to reinvest any dividend or distribution amount you elect to receive by check if your check is returned as undeliverable or if you do not cash your check within six months. Interest will not accrue on the amount of your uncashed check. We will reinvest your check into your account at the NAV on the day of reinvestment. When reinvested, those amounts are subject to the risk of loss like any other fund investment. We also reserve the right to change your election to receive dividends and distributions in cash after a check is returned undeliverable or uncashed for the six month period, and we may automatically reinvest all future dividends and distributions at the NAV on the date of the payment.

©2017 American Century Proprietary Holdings, Inc. All rights reserved.

CL-SPL-93030 1707