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Charitable IRA Rollover

On December 18, 2015, President Obama signed the Protecting Americans From Tax Hikes Act of 2015 which includes a permanent extension of the charitable IRA rollover. Any gift made directly from your IRA to the West Point Association of Graduates will qualify as a rollover gift.

Under the law, donors age 70½ or older who move up to $100,000 from their IRAs directly to qualified charities during the calendar year will not have to pay income taxes on their gift. The gift will qualify toward their required minimum distribution, will not be subject to charitable giving limitations, and will not qualify for a charitable deduction. The permanent extension keeps in place all of the previous requirements.

Charitable IRA Rollover Rules

  • Donor must be at least 70 ½ years of age when the gift is made
  • Transfer must be made directly from the IRA administrator to the West Point Association of Graduates
  • The maximum allowed gift per individual is $100,000 per year
  • Must be an outright gifts. Contributions for life income gifts—such as gift annuities or charitable remainder trusts are not permitted.
  • This gift opportunity only applies to IRAs. The charitable IRA distribution can be used to pay a pledge.

Benefits of a Charitable IRA Rollover

  • May make a significant gift without using cash or other assets
  • The rollover amount is a tax-exempt distribution and not subject to income tax
  • IRA rollover can be used to meet all or part of required minimum distribution (RMD)
  • Gift is not subject to charitable gift limitations

Steps to make a Charitable IRA Rollover to WPAOG

  • Contact your IRA plan administrator
  • For credit: direct your plan administrator to make the transfer on or before December 31. Postmark must be no later than December 31.
  • Inform us of the designation of your gift. You may do so by:
    noting the designation at the bottom of your direction letter and submitting by mail, fax, or email attachment, or sending an email to giftoperations@wpaog.org with your name, contact information, IRA administrator name, gift amount, and designation.