IRA Charitable Rollovers

IRA Charitable Rollover Permanently Extended!

Congress has permanently extended a popular tax-advantaged giving opportunity. The law allows individuals who are age 70½ or older to make gifts of up to $100,000 directly from their IRA account to one or more qualified charities, without paying federal income tax on the withdrawal. The extension was made retroactive to January 1, 2015.

Donors who wish to make a gift to benefit Camino Health Center, or who are fulfilling an existing pledge, may want to make a Qualified Charitable Distribution.

Here are the specifics:

  • Donors must be age 70½ or older at the time the gift is made.
  • Only traditional IRAs are eligible.
  • Donors must request a direct transfer of funds from their plan administrator to a qualified public charity.
  • Gifts cannot be made to a private foundation or to a donor advised fund.
  • Gifts cannot be used to fund a gift annuity or charitable remainder trust.
  • Each donor may give up to $100,000 per year. For couples, each spouse can give up to $100,000.
  • Distributions made under this law can be used to satisfy the donor’s required minimum distribution (RMD) without adding to tax liability.
  • To make a gift to Camino from an IRA, contact your IRA plan administrator and request a direct Qualified Charitable Distribution from the IRA account to Camino health Center, a 501(c)(3) organization, with Tax ID number 33-0574214. Checks should be mailed directly to Camino Health Center, 30300 Camino Capistrano, San Juan Capistrano, CA 92675

    Please contact Hilary Zappin, Development Director, at (949) 240-2030 x186 or [email protected] to inform Camino of a gift or for resources and information regarding designated gifts and other information that you can pass on to a financial advisor.

    The content found on this site is general in nature and intended to be used for informational purposes only. The content on this page shouldn’t be relied upon as legal or accounting advice. It is recommended that you consult a qualified professional in order to determine how including Camino Health Center in your estate planning affects your finances.

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