Making a Difference

Plan Now for the IRA Charitable Rollover

On December 18, 2015, President Obama signed legislation to make permanent the IRA charitable rollover—a simple way for IRA owners age 70½ and over to make a gift using a direct transfer of funds from an IRA to us. The transferred amount counts toward your required minimum distribution, but you pay no tax on the distribution. This giving option can play a strategic role in your 2016 planning.

A charitable rollover is a simple way to make a gift. Here are the nuts and bolts:

  • You must be an IRA owner over age 70½ to be eligible.
  • Simply notify your IRA custodian to make a direct transfer of the required distribution amount from your IRA to us.
  • The distribution counts toward your required minimum distribution, and you pay no tax on the distribution.
  • Up to $100,000 of the amount transferred qualifies for this beneficial tax treatment.
  • Your gift can have an immediate impact—no need to wait until the end of the year to make the distribution.

Please consult your advisors and contact us for additional information about completing the transfer. We are happy to help you explore the IRA charitable rollover and other gift options for 2016.

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