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Gifts of Retirement Assets

CREATE A MEANINGFUL LEGACY THROUGH A
TAX-SAVVY USE OF RETIREMENT ASSETS.

Retirement savings may be a large portion of your estate. However, these assets are also subject to income tax and possibly estate tax. Funding charitable gifts with retirement assets lets you minimize taxes and maximize philanthropic impact while leaving other, less taxed assets of your estate to loved ones.

IRA charitable rollover

  • Starting at age 70 ½, you may make a gift of any amount, up to $100,000 ($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.

Contact Us

800-737-UCLA (8252) • giftplanning@support.ucla.edu

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UCLA's gift planning professionals are happy to provide you and your legal and financial advisors with personalized information about giving through your will or living trust. Any information in this publication is not intended as legal, accounting, or financial advice. Please consult with your tax, legal, and financial advisors to ascertain whether this or other gift plans are in keeping with your own tax and financial needs. Conversations with the university's gift planning team are always confidential and never imply obligation.

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UCLA Bequest Challenge

UCLA Bequest Challenge

100% toward goal!

Thank you to our generous UCLA alumni and friends who chose to remember UCLA in their wills or living trusts in support of the many campus units! We reached our goal of identifying more than 1,200 new bequest intentions to the university.

Each gift represents future scholarships and fellowships, new research breakthroughs, world-class patient care, a place for the arts to flourish, and so much more.

It is not too late to establish a meaningful legacy gift and join a philanthropic effort that will propel and support the university into its second century.
Please contact UCLA's Office of Gift Planning.