Donor Advised Funds

The Treasury Department extended the period for public comments on the proposed regulations on Donor Advised Funds to Feb. 15, 2024. 

As currently drafted, the proposed rule includes definitions for who or what qualifies as a DAF, donor, and donor-advisor, as well as exceptions to the definition of a donor advised fund. Included in the definition of DAFs would be some giving circles, field of interest funds, and other committee funds. The draft regulations also propose an "anti-abuse rule" meant to deter donors from using DAFs to avoid excise taxes on donations to individuals. 

The government invites interested parties to submit public comments by February 15, 2024.