CHEAT SHEET: Secure Act 2.0 a/k/a “Legacy IRA” legislation

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Over 20 FAQs in simple, plain English. Share with your board, team, key donors. All the answers you need to make you look like a guru!

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This item: CHEAT SHEET: Secure Act 2.0 a/k/a “Legacy IRA” legislation

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What is the Secure Act 2.0 a/k/a “Legacy IRA” legislation?
How does it work?
How often can a donor use the Legacy IRA QCD?
How much can a donor contribute?
If the donor doesn’t use the full $50,000 in a single calendar year, does it rollover?
How does the Legacy IRA QCD work with the existing QCD law?
Is there an age limit?
Can a donor make an additional contribution to the CRT to bring it up to our required CRT minimum gift
Does a QCD to a life income plan satisfy the donor’s RMD?
Can a donor name others to receive payments from a Legacy IRA QCD CGA or QCD CRT?
Are QCD CGA annuity payments taxable?
Are QCD CRT payments taxable?
Does the donor get a charitable deduction for a QCD CGA or QCD CRT contribution?
What is the minimum payout?
Can a donor fund a deferred/flexible deferred or college annuity with a QCD?
What about funding a charitable remainder trust with a QCD?
Can a donor contribute an additional asset to fund the CGA?
How does a donor make a QCD CGA gift?
How does a donor make a QCD CRT gift?
How do I determine the gift date?
Can the annuitant assign their income interest in favor of the charity?
How do the ages for a QCD and the RMD interact?
What is the Required Minimum Distribution?