The Charitable IRA Rollover has been passed!

The Charitable IRA Rollover has been passed!

This came to us as great news, but before we get carried away making changes to meet year end dates, there are a few details that you may want to know about the bill and the IRA rollover:

  • The IRA rollover allows donors 70½ or older to transfer up to $100,000 directly from their IRA to charity each year.
  • An IRA rollover gift is a tax-exempt distribution. Qualifying individuals can make charitable gifts using pre-tax IRA assets rather than taking a distribution, paying income taxes and using after-tax assets to make a charitable gift.
  • An IRA rollover gift can be used to meet all or part of an IRA required minimum distribution.
  • A permanent IRA rollover will give qualifying individuals certainty, allowing them to better manage their income, taxes and charitable giving.
  • This is retroactive to January 1, 2015. If you have made a gift directly from your IRA to a charity at any point during 2015, your gift will qualify as a rollover gift.

Unfortunately, under current law donor advised funds cannot be the recipient of the IRA charitable rollover.


For more information email Joel Reimer or give us a call at (913) 317-6000.

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