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Guide to Gift Planning
Charitable IRA Rollover Information
Please note, individual financial circumstances will vary. The information on this site is meant as general information and does not represent legal or tax advice. As with all tax and estate planning, please consult your attorney or estate specialist. All material is copyrighted and is for viewing purposes only.
The charitable IRA rollover originally created by the Pension Protection Act of 2006 and renewed periodically has been made permanent. IRC Section 408(d)(8) as amended provides that qualifying individuals may make charitable donations directly from their IRA as follows:
General Information. Taxpayers age 70½ and older are required to make annual distributions from their IRAs which are then included in the taxpayers’ adjusted gross income (AGI) and subject to taxes. The IRA Charitable Rollover permits those taxpayers, age 70½ and older, to make donations directly to public charities from their traditional IRA or Roth IRA without counting them as part of their AGI and, consequently, without paying taxes on them. An IRA charitable rollover may fulfill part or all of your required minimum distribution (RMD). Since the charitable rollover is made directly to a charity without the taxpayer counting it as income, there is no charitable tax deduction as a result of the gift.
Amount Limitation. Combined charitable IRA rollover contributions for a donor cannot exceed $100,000 in any one single tax year.
Eligible Charities. Charitable contributions from an IRA must be sent directly to a public charity that is not a supporting organization by the IRA trustee. Defining it as a public charity excludes charitable gift annuities and charitable remainder trusts.
Eligible Retirement Accounts. Rollover distributions can only be made from traditional IRAs or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are not eligible for the tax-free treatment.
Directly to the Charity. Distributions must be made directly from the IRA by the trustee and be payable to the public charity. Donors are specifically not permitted to make charitable rollovers to donor-advised funds, supporting organizations, and private foundations.
No Gifts in Return. In order to qualify for tax-free treatment as charitable IRA rollover, donors cannot receive any goods or services in return.
Written Receipt. Donors must obtain written substantiation of each IRA rollover contribution from each recipient charity in order to benefit from the tax-free treatment.
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