Donor-advised funds are subject to new requirements under the Pension Protection Act of 2006. The IRS has issued guidance and new procedures implementing the legislation.
- New excise taxes may apply to sponsoring organizations and managers of donor-advised funds.
Donors are provided guidance on how to determine whether a grantee that is a donor-advised fund is a public charity under section 509(a)(1), (2), or (3), in IRS Business Master File information.
Notice 2006-109 provides interim guidance on issues affecting supporting organizations and sponsoring organizations of donor advised funds.
- Responding to Congressional direction, Treasury Department reported the results of a study of donor-advised funds and supporting organizations in December 2011.