Charitable IRA Rollover

Charitable IRA Rollover

Tax-Free IRA Rollover Extended To December 31, 2013

On Friday, December 17, 2010, the IRA charitable rollover provision of the Pension Protection Act of 2006 was revived by Congress.

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:

Our address:
Amnesty International USA
5 Penn Plaza, 16th Floor
New York, NY, 10001

NOTE: Please send all IRA distributions to the NY office, attention "Operations."

Our Tax ID Number: 52-0851555