IRA Rollover

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In 2015, US Congress pass th Protecting Americans from Tax Hikes (PATH) Act, which approves Charitable IRA Rollovers.

What is a Charitable IRA Rollover?

A Charitable IRA Rollover allows:

This distribution must be made directly from the IRA to the qualified charities

What are the benefits to the donor?

Charitable IRA Rollovers are tax-free and the donation counts toward the minimum IRA distribution required to be taken each year.  Keeping your IRA distribution out of your adjusted gross income may save you even more taxes.

What are the next steps?

Donors should contact their IRA Administrator. The amount must be distributed directly from the IRA to the qualified charities chosen by the donor.

Who could benefit from an IRA Charitable Rollover?

If you have any questions, please contact the Treasurer.

***The FAWCO Foundation does not provide tax, legal or financial advice. Please consult your own legal and tax advisors.