CHARITABLE IRA ROLLOVER INFORMATION

The Charitable IRA Rollover allows individuals age 70½ and older to make direct transfers of up to $100,000 per year (and up to $200,000 per year for married couples) from individual retirement accounts to qualified charities without having to count the transfers as income for federal tax purposes. Since no tax is incurred on the withdrawal, gifts do not qualify for an income tax charitable deduction, but are eligible to be counted toward an individual’s minimum required distribution.

Please click here for details to learn how you can make a gift of a Charitable IRA Rollover to the Diocese of Orlando or any of its parishes or entities. Your gift will be acknowledged by letter after receipt.

PROVISIONS OF THE CHARITABLE IRA ROLLOVER:

  • Distributions must be made directly to a qualified charity by the plan administrator of an IRA. Retirement assets in 401(k), 403(b), SEP, or SIMPLE plans do not qualify but may be rolled into a new or existing IRA and transferred to the charity.
  • Distributions may only be made to 501(c)(3) tax exempt organizations and cannot be made to donor advised funds, private foundations, or supporting organizations.
  • Distributions may not be used to fund life-income gifts such as charitable gift annuities, charitable remainder trusts, or pooled income funds.

For more information, please contact Susan Hunt at The Catholic Foundation of Central Florida, Inc., shunt@cfocf.org or (407) 246-4803.