IRA Rollover

TAX-FREE IRA ROLLOVER PERMANENTLY EXTENDED

On December 18, 2015, Congress passed the IRA charitable rollover provision of the Trade Facilitation and Trade Enforcement Act of 2015. The new law has made this a permanent opportunity for qualified donors.

Under this legislation, qualified donors may make outright gifts of up to $100,000 to NCTC from their IRA and avoid taxation on the distribution.

To benefit from this gift opportunity, the following qualifications must be met:

• Donor must be age 70½ or older at the time of transfer.
• The maximum amount a donor may transfer is $100,000.
• The gift must be outright. Gifts to donor advised funds or to life income vehicles do not qualify.
• The gift must be transferred directly from the IRA account by the IRA administrator to NCTC. Donors with check-writing ability for their IRAs may use this feature to complete their gift.

To assist donors interested in making a charitable gift from their IRA, we have prepared the following templates:

• Plan Owner Request to IRA Administrator (includes transfer instructions from the donor to the IRA custody agent)
• IRA Transfer Notification (informs NCTC of IRA charitable distribution)

If you have any questions regarding the charitable IRA rollover or how to make a planned gift to NCTC, please contact Director of Individual Giving Jim Mayer at jim@nctcsf.org or 415.694.6154.