IRA Charitable Rollover

Qualified Charitable Distribution from Your IRA

A QCD is a direct transfer of funds from your IRA custodian, payable to Catholic Charities USA. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain requirements are met (see below).

In addition to the benefits of giving to further our mission, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

 

Review the requirement and restrictions below:

  • Donor must be 70 ½ or older.
  • Gift must be made directly from the IRA to a 501c3 charitable organization.
  • Gifts to all charities combined may not exceed more than $100,000 per taxpayer for the year.
  • Gifts may not be made to a donor advised fund, supporting organization, or private foundation.
  • The gift is not included in taxable income; thus, no charitable deduction is allowed.
  • Gifts must be made from an IRA. Gifts from 401(k), 403(b), and 457 plans are prohibited.

 

Ready to make your gift? Review these next steps:

  • To make a charitable IRA rollover transfer, contact your IRA administrator and instruct that individual to transfer funds to the charity, or multiple charities, you designate.
  • Contact Catholic Charities USA at 703-236-6259.  We are happy to answer any questions you might have and discuss the instructions for completing your gift.