Gifts by Retirement Plan Asset

The Consolidated Appropriations Act of 2016 (H.R. 2029) was signed into law by the president on December 18, 2015, extending the popular “IRA Rollover” provision permanently. The standard qualifications have not changed.

People aged 70 1/2 or older, who own a traditional or Roth IRA, are allowed to make a charitable gift of up to $100,000, directly from their IRA to qualified charities. SPLC is qualified and your gift to us (including your required minimum distribution) can completely bypass your income going forward.

Plan early! Before you take your next RMD, request that your annual charitable gift be distributed by your IRA manager directly to the SPLC.

Important: This provision only applies to gifts from IRA accounts; 401(k) plans or other tax-favored retirement planning vehicles are not eligible. Rollover gifts cannot fund gift annuities or other life income gifts. There is no corresponding charitable tax deduction for rollover gifts because they are not counted in income.

Urgent: If you send an IRA Rollover gift, please let us know to watch for the gift and request that your IRA Manager include your contact information with the check. They cannot identify your gift without your permission.

We recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. We are available to you and your advisors to answer questions or help arrange a planned gift to the SPLC.

If you have any questions or need additional information, please call the planned giving department toll free at 1-888-414-7752 or contact us online.