IRA Charitable Rollover Now Permanent

porter-county-community-foundationIndividuals age 70½ or older can make a rollover gift of up to $100,000 from their IRA.

In a historic vote, Congress passed the IRA Charitable Rollover into permanent law, making it available to donors and charities for the foreseeable future. This is good news for our community foundation donors in their 70s and above - and for the communities and causes you care about.

On December 18, 2015 Congress passed the PATH Act, making permanent this unique charitable giving opportunity. Single and married individuals 70½ and older are eligible to give in this way from their individual retirement accounts. This permanent law makes it possible to give individual retirement account (IRA) assets to charity, free from federal tax, annually. This may be an attractive giving option for you if you are:

Over 70½ and now receiving minimum IRA distributions - but do not need the extra income.
Interested in making a significant gift to impact your community.

The Porter County Community Foundation is a qualified charity and the amount can be directed to any fund held by the Foundation other than a donor advised fund. If you decide to distribute a charitable gift from your IRA, ensure that your IRA's custodian transfers it directly from the IRA to your designated charity.

If you have questions about the IRA Charitable Rollover and how it might work for you, don't hesitate to contact the Foundation office at (219) 465-0294 or email Barb Young.

Consult your tax and financial advisors when considering any planned gift.

The information in this email is provided for general information purposes only. It is not intended as legal or financial advice.