Giving from Your 401k or IRA Retirement Plan
You've worked hard and planned for retirement. Now, with a little creativity, you can leverage your retirement assets to benefit you and your family, reduce federal taxes, and support Reason Foundation far into the future.
How It Works
- Name or designate Reason Foundation as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
- Pass the balance of your retirement assets to Reason Foundation by contacting your plan administrator.
- Important! Tell Reason Foundation about your gift. Your plan administrator is not obligated to notify us, so if you don't tell us, we may not know.
70 ½ or older? Make a “Tax-Free” Gift Through Your IRA
- Qualified Charitable Distribution (IRA Rollover)
Note: The SECURE Act increased the MRD (Minimum Required Distribution) age from 70½ to 72. The age for a Qualified Charitable Distribution (QCD), however, still remains at 70½.
- Continue to take regular lifetime withdrawals.
- Maintain flexibility to change beneficiaries if your family's needs change during your lifetime.
- Your heirs avoid the potential double taxation on the assets left in your retirement account.
Planning your estate and legacy for future generations, including your charitable interests, takes careful evaluation. Consulting with the appropriate professionals can assist you.