IRA Charitable Rollover Legislation is Permanent for 2016 and beyond!



On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015. Known as the IRA charitable rollover, this law has been reinstated for all of 2015 and will remain in effect for 2016 and beyond.

Who Qualifies?
If you are 70 1/2 or older, you are once again eligible to transfer any amount up to $100,000 from your IRA directly to a qualified charity.

Act now to take advantage of this great opportunity. An IRA charitable rollover gift can satisfy all or part of your IRA distribution requirement.

Here’s How it Works:
You must be 70 1/2 or older, on the day the gift is made.

  1. You must transfer any amount up to $100,000 directly from your IRA to one or more qualified charities. This opportunity only applies to IRAs and not to other types of retirement plans.
  2. The transfer will not generate taxable income or a tax deduction so you can still benefit, even if you do not itemize your tax deductions.
  3. No goods or services can be received by the donor in return for the rollover gift to qualify for tax-free treatment.