Gifts from Retirement Plans
How it Works
- Name Far East Broadcasting Company as a beneficiary of your IRA, 401(k) or other qualified plan.
- Designate FEBC to receive all or a portion of the balance of your plan through your plan administrator.
- After your passing, the balance of your plan passes to Far East Broadcasting Company.
- Avoid the double taxation your retirement savings would incur if you designated your heir as beneficiary.
- You may continue to take lifetime withdrawals.
- This is a revocable transaction and you may revoke FEBC as beneficiary should your family needs change.
How to Make a Retirement Plan Gift
Your retirement fund can be taxed up to 80% if passed on to heirs, but it’s tax-free if given to charity. If you name Far East Broadcasting Company as the beneficiary of your retirement plan, since we are a qualified 501 (c)(3), we will not pay income tax on your distribution, unlike your heirs. You may then use other assets not subject to income tax to make gifts to heirs, thereby easing the burden of extra taxes.
Contact us if you need further assistance: Sandy Wilson, firstname.lastname@example.org, (562)-448-1756