Skip Navigation

Retirement Accounts and Pension Plans

IRA Legacy - Woman with book

There are seven key elements to the IRA gifting strategy:

1. Only those over age 70½ are permitted to use this strategy. 

2. IRAs only.  Distributions from 401(k) plans, 403(b) plans, pension plans, or profit sharing plans are not eligible for charitable IRA rollover treatment.  For those plans, the donor must first roll the assets into a new IRA. 

3. Direct transfers only. 

4. Public charities and private operating foundations must be the recipient.

5. The payment would have qualified for a full charitable deduction. 

6. Distributions are limited to $100,000 per year and must be otherwise fully taxable.

7. Documentation required.

Find out more at Philanthropy & Your IRA

Interested in using your IRA to benefit The Library Foundation after your death? Visit our Designate and Donate Planned Giving Page

Back to Top