<SEC-DOCUMENT>0001193125-11-170792.txt : 20110622
<SEC-HEADER>0001193125-11-170792.hdr.sgml : 20110622
<ACCEPTANCE-DATETIME>20110622161638
ACCESSION NUMBER:		0001193125-11-170792
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20110622
DATE AS OF CHANGE:		20110622

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			United States 12 Month Natural Gas Fund, LP
		CENTRAL INDEX KEY:			0001405513
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				260431733
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-144409
		FILM NUMBER:		11925790

	BUSINESS ADDRESS:	
		STREET 1:		1320 HARBOR BAY PARKWAY
		STREET 2:		SUITE 145
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
		BUSINESS PHONE:		(510) 522-9600

	MAIL ADDRESS:	
		STREET 1:		1320 HARBOR BAY PARKWAY
		STREET 2:		SUITE 145
		CITY:			ALAMEDA
		STATE:			CA
		ZIP:			94502
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>d424b3.htm
<DESCRIPTION>424B3
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<TITLE>424B3</TITLE>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">Filed pursuant to Rule 424(b)(3) </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">File No. 333-144409 </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>UNITED STATES 12 MONTH NATURAL GAS FUND, LP </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Supplement dated June&nbsp;22, 2011 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>to </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Prospectus dated April&nbsp;29, 2011 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">This supplement contains information, which amends, supplements or modifies certain information contained in the Prospectus of United States 12 Month Natural Gas Fund, LP dated April&nbsp;29, 2011. Please
read it and keep it with your Prospectus for future reference. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The General Partner is making certain changes to the fees paid by Authorized
Purchasers in connection with the creation of Creation Baskets and the redemption of Redemption Baskets. Such fee changes are <B><I>effective July&nbsp;1, 2011</I></B> and will continue in effect until the period ended <B><I>December&nbsp;31,
2011</I></B>. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cover Page </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>The third sentence of the second paragraph is amended as follows: </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Authorized purchasers will pay a transaction fee of $350 for each order placed to create one or more baskets. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>The Offering &#150; Creation and Redemption (page 10) </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>The Creation and Redemption
provision under the entry &#147;The Offering&#148; is deleted and replaced with the following: </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Purchasers pay a $350.00 fee for
each order to create or redeem one or more Creation Baskets or Redemption Baskets. Authorized Purchasers are not required to sell any specific number or dollar amount of units. The per unit price of units offered in Creation Baskets on any
particular day is the total NAV of US12NG calculated shortly after the close of the core trading session on the NYSE Arca on that day divided by the number of issued and outstanding units. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Creation and Redemption of Units (pages 86-87) </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>The second paragraph under the heading
&#147;Creation and Redemption of Units&#148; is deleted and replaced with the following: </I></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Authorized Purchasers are the only persons that
may place orders to create and redeem baskets. Authorized Purchasers must be (1)&nbsp;registered broker-dealers or other securities market participants, such as banks and other financial institutions, that are not required to register as
broker-dealers to engage in securities transactions as described below, and (2)&nbsp;DTC Participants. To become an Authorized Purchaser, a person must enter into an Authorized Purchaser Agreement with the General Partner. The Authorized Purchaser
Agreement provides the procedures for the creation and redemption of baskets and for the delivery of the Treasuries and any cash required for such creations and redemptions. The Authorized Purchaser Agreement and the related procedures attached
thereto may be amended by US12NG, without the consent of any limited partner or unitholder or Authorized Purchaser. Authorized Purchasers pay a transaction fee of $350 to US12NG for each order they place to create or redeem one or more baskets.
Authorized Purchasers who make deposits with US12NG in exchange for baskets receive no fees, commissions or other form of compensation or inducement of any kind from either US12NG or the General Partner, and no such person will have any obligation
or responsibility to the General Partner or US12NG to effect any sale or resale of units. </FONT></P>

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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Creation and Redemption Transaction Fee (page 90) </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>The &#147;Creation and Redemption Transaction Fee&#148; is deleted and replaced with the following: </I></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Creation and Redemption Transaction Fee </I></B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">To compensate US12NG for its expenses in connection with the creation and redemption of baskets, an Authorized Purchaser is required to pay a transaction fee to US12NG of $350 per order to create or
redeem baskets. An order may include multiple baskets. The transaction fee may be reduced, increased or otherwise changed by the General Partner. The General Partner shall notify DTC of any change in the transaction fee and will not implement any
increase in the fee for the redemption of baskets until 30 days after the date of the notice. </FONT></P>
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