IRA CHARITABLE ROLLOVER
Tax-efficient giving from an IRA in 2018
Individuals who are age 70½ or older can make gifts of up to $100,000 directly from their IRA accounts to one or more qualified charities, without paying federal income tax on the withdrawal. Donors who wish to make a gift to benefit the National Association of Congregational Christian Churches (NACCC) or the Congregational Foundation (CF), may want to make a qualified charitable distribution.
Here are the specifics:
- Donors must be age 70½ or older at the time the gift is made.
- It is important not to withdraw the funds before making a gift. Donors must request a direct transfer of funds from their plan administrator to a qualified public charity.
- Gifts cannot be used to fund a gift annuity or charitable remainder trust.
- Each donor may give up to $100,000 per year. For couples, each spouse can give up to $100,000.
- Distributions made under this law can be used to satisfy the donor's required minimum distribution (RMD). The rollover allows for a charitable gift to fulfill the RMD without adding to tax liability.
- Donors can exclude the distribution from income on their federal tax returns. If they do, they will not receive a charitable income tax deduction.
- To qualify for tax-free treatment, donors cannot receive goods or services, or a personal benefit (such as tickets for events) in return for the IRA rollover gift.
8473 South Howell Av
P.O. Box 288
Oak Creek, WI 53154
Email or call
800-262-1620 Ext 1610
Please note: IRA administrators frequently do not include the donor’s name on IRA rollover checks, which they send out. Therefore, please alert the NACCC/CF Development Department before making an IRA rollover gift, so that we may identify and acknowledge your gift promptly. (examples of letters to the NACCC/CF and to your Trustee/IRA administrator are below)
Thank you in advance for your generous support!
The NACCC and CF do not give tax or legal advice. We recommend that donors consult their own professional tax advisor before making a gift.