Charitable IRA Rollover

Charitable IRA Rollover

In 2015 Congress passed and the President signed the PATH act making permanent the ability for individuals to roll over up to $100,000 from an individual retirement account (IRA) directly to a qualifying charity without recognizing the assets transferred to the qualifying charity as taxable income.

Under this legislation, donors may be able to make outright gifts of up to $100,000 to Amnesty International USA from their traditional or Roth IRA and have such gifts count toward their minimum distribution requirement while also excluding the transferred amount from their taxable income. To qualify, the donor must meet the following requirements:

  • You must be 70 ½ or older
  • The transfer must go directly from your traditional or Roth IRA to Amnesty (401(k), 403(b) and SEPs are not eligible).
  • Your gift cannot exceed $100,000 per year
  • Your gift counts toward your required minimum distribution
  • You will pay no federal income tax on your distribution. However, the distribution is not reportable as income, so you will NOT receive a charitable income tax deduction for the gift. Discuss these with your tax planner as state taxes may still apply
  • Please note that transfers to charitable remainder trusts, gift annuities, donor advised funds and private foundations do not qualify.

Your IRA administrator will need the following information:

Legal Name:Amnesty International of the USA, Inc.

Address:5 Penn Plaza, 16th Floor, New York, NY 10001

Tax ID Number:52-0851555

Note: Please send all IRA distributions to "ATTN: Office of Planned Giving" at the New York Office address.