(Reuters) - U.S. President-elect Donald Trump won't be involved in the day-to-day management of the Trump Organization once he takes office, the Wall Street Journal reported on Friday, citing an ethics plan from the company.

Quinn Emanuel's William Burck will assist in developing internal ethics policies and procedures to avoid any perceived conflicts, the report said, citing the Trump Organization.

Trump Organization won't enter into new contracts with foreign governments during Trump's presidency, the report said.

The Trump Organization did not immediately respond to a Reuters request for comment.

The WSJ report added that the Trump Organization will also voluntarily donate to the U.S. Treasury profits it identifies as coming from foreign government officials at its hotels and businesses.

Trump is set to the take office later this month, with the 60th presidential inauguration set to take place on Jan. 20.

His investments will be independently managed by outside institutions, the report said, adding that Trump would also have "limited access" to Trump Organization's financial information.