IRA charitable rollover

• Starting at age 70 ^½, you may make a gift of any amount, up to $105,000 ($200,000 for a couple with separate IRAs) from your IRA without paying the income tax.
• This gift also satisfies the annual Required Minimum Distribution (RMD) from retirement accounts.
• Funds should be transferred directly from your financial institution to The UCLA Foundation.
• This allows you to make an additional tax-free gift, even when you have maximized your charitable deductions for the year.
• Donor may not receive goods or services in exchange for this gift.

Additional charitable gifts from retirement plans during lifetime

At age 59 ^½ or older, when withdrawals no longer trigger a penalty, many donors choose to fund gifts to UCLA with retirement assets and lessen their future estate tax burden.

Simply withdraw funds from your retirement account and report the withdrawals as income on your tax return. If you itemize your deductions, you are allowed a charitable deduction for amounts donated, up to 60% of your Adjusted Gross Income (AGI) for gifts of cash.

Gifts of retirement assets through your estate plans

Distributions from retirement plans can be subject to income and estate taxes and fees when left to an individual other than a spouse.

In contrast, when you designate The UCLA Foundation as a beneficiary of some or all of your retirement plans, 100% of the balance is received tax-free and available to support whichever area of the university you choose. You can establish this type of gift by contacting your plan administrator to obtain a beneficiary designation form and naming The UCLA Foundation (Tax ID # 95-2250801) as beneficiary.

UCLA's Office of Gift Planning can provide guidance for completing this process, including how to specify the exact use of your gift for the department or program of your choice.