Gifts of Retirement Plan Assets

You may have accumulated savings in one or more tax-deferred retirement accounts, including a profit-sharing plan, IRA, 401(k) or 403(b)plan. While contributions to these funds are made on a tax-free basis, you pay income tax on any withdrawals or your estate will pay a tax, which could be at very high rates.

Therefore, if you are planning to make a charitable gift to the U.S. Soccer Foundation at death, it could be advantageous for you to use a retirement account for that purpose, thereby avoiding income and estate taxes.   Other assets in your estate that don’t carry these heavy tax burdens can be used for gifts to your loved ones.