Retirement Plan Assets
Giving from your 401k or IRA Retirement Plan
You’ve worked hard to plan for retirement, and now your retirement plan assets offer an opportunity to support a future of longer, healthier lives while providing tax relief for you and your loved ones.
Assets held in IRAs, 401ks, and other qualified retirement plans have yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will be burdened with federal income tax. As a nonprofit organization, the American Heart Association is tax-exempt and will receive the full amount of what you designate. Your loved ones can enjoy tax relief by receiving less heavily taxed assets held elsewhere by your estate and your gift can make a bigger impact.
There are many ways that you can leverage your retirement plan assets to benefit you, your family, and support the American Heart Association far into the future.
Ways to Give Using Your Retirement Plan Assets
Qualified Charitable Distribution (QCD)
A qualified charitable distribution (QCD) allows individuals who are 70½ years or older to make a tax-free donation directly from your traditional Individual Retirement Account (IRA) to the American Heart Association. You can give up to $105,000 (indexed for inflation) annually from your IRA.
Learn more about Qualified Charitable Distributions
Ready to make your gift? Make your QCD gift quickly and hassle-free by beginning your forms online using our free tool powered by FreeWill.
Beneficiary Designation
Naming the American Heart Association as a beneficiary of one of your financial accounts is one of the easiest ways to support our mission and costs you nothing today. Simply update your beneficiary designation form for the account(s) you select and name the American Heart Association as the primary beneficiary for a percentage of the remaining balance.
Use our free, online tool powered by FreeWill to plan all of your beneficiaries in one place.
Charitable Gift Annuity
New! For individuals who are 70 ½ and older, you may now make a one-time, tax-free distribution of up to $53,000 (indexed for inflation) from your traditional IRA to fund a charitable gift annuity. This special gift arrangement provides you with dependable lifetime income. The reminder of the gift transfers to the American Heart Association to support our mission after your lifetime.
For More Information
If you have questions about how to make a gift with your retirement plan assets or are not sure which strategy might be right for you, please contact us at 888-227-5242 or [email protected]. We are pleased to assist you and answer your questions.