IRA Charitable Rollover – what you need to know


The IRA Charitable Rollover, a popular charitable giving tool for donors age 70½ and older, is available from now until the end of the year. On December 16, Congress passed legislation that included the IRA Charitable Rollover and the president is expected to sign it soon. However, this opportunity is only available through December 31, 2014. Donors age 70½ and older may transfer up to $100,000 from their IRA to a qualified public charity. The transfer is free of federal income tax and the gift qualifies for the donor’s 2014 required minimum distribution (RMD).

Unfortunately, time is short to take advantage of this opportunity. In order to complete the gift by year-end, donors will need to contact their IRA plan administrators right away. Here are some ideas for how you can communicate the IRA Rollover:

  • For parishes, place an announcement in this weekend’s bulletin.
  • Review your list of past IRA donors and contact them by phone.
  • Place the information on your web page.
  • Send a targeted email to those donors age 70½ and older.

While it is unfortunate this law expires on December 31, 2014, we are hopeful that Congress will pass legislation next year that will make the IRA Charitable Rollover permanent. If that happens, we will provide ideas on how to plan a more comprehensive communication strategy and effectively market charitable giving from an IRA.

If you have questions regarding IRA Charitable Rollover best practices or the Steier Group’s professional services, contact Jim Steier at [email protected] You can also visit our website at steiergroup.com.

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