split-interest entity
Defined in 1 place of the United States Code.
For purposes of this subparagraph, the term “split-interest entity” means—
(I) a charitable remainder annuity trust (as defined in section 664(d)(1)), but only if such trust is funded exclusively by qualified charitable distributions,
(II) a charitable remainder unitrust (as defined in section 664(d)(2)), but only if such unitrust is funded exclusively by qualified charitable distributions, or
(III) a charitable gift annuity (as defined in section 501(m)(5)), but only if such annuity is funded exclusively by qualified charitable distributions and commences fixed payments of 5 percent or greater not later than 1 year from the date of funding.
Source
- 2022–present26 U.S.C. § 408Internal Revenue Code · Individual retirement accounts · for purposes of this subtitle