Prospectus by Investment Company - Form 497

JPMorgan Trust I

J.P. MORGAN U.S. EQUITY FUNDS

JPMorgan Small Cap Equity Fund

(the "Fund")

(a series of JPMorgan Trust I)

(All Share Classes)

Supplement dated October 6, 2022

to the current Summary Prospectuses, Prospectuses and Statement of Additional Information, as supplemented

Effective October 28, 2022, the Fund will no longer be subject to a limited offering, and all limited offering disclosure relating to the Fund will be deleted.

INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE

SUMMARY PROSPECTUSES, PROSPECTUSES AND STATEMENT OF ADDITIONAL

INFORMATION FOR FUTURE REFERENCE

SUP-SCE-1022

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