IRA Charitable Rollover Is Back

Posted December 22, 2015 / Last updated December 22, 2015

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Don’t Miss This Opportunity

Congress recently reinstated a law that allows you to make a tax-free gift from your IRA. Known as the IRA charitable rollover, this law no longer has an expiration date so you are free to make annual gifts to us from your IRA this year and well into the future.

The recently reinstated law allows individuals 70½ and older the ability to transfer up to $100,000 from their individual retirement accounts to a qualified charitable organization without being subject to income taxes on the distribution. Transfers will need to be made by Dec. 31, 2015, if you would like your gift to qualify this year.

You may contribute funds this way if:

  • You are age 70½ or older at the time of the gift.
  • You transfer up to $100,000 directly from your IRA. This opportunity applies only to IRAs and not other types of retirement plans.
  • You transfer the funds outright to one or more qualified charities. The legislation does not permit direct transfers to charitable trusts, donor advised funds, charitable gift annuities or supporting organizations.
  • You make your gift in 2015.
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