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Charitable IRA Rollover Gifts

The Charitable IRA Rollover Provision Has Expired

The charitable IRA rollover legislation has not been reauthorized for 2014. At this time, individuals cannot make a gift from their IRA accounts directly to the charity of their choice without paying income taxes on the amount withdrawn.

What are Congress' plans for reauthorizing the Charitable IRA Rollover in 2014?

The House Ways and Means Committee and the Senate Finance Committee have voted on bills that would reinstate the charitable IRA rollover. The Ways and Means Committee approved a permanent option, but the Senate Finance Committee is considering a 2-year extension. Typically, Congress does not take definitive action on the charitable deduction until after the midterm elections, when many have already withdrawn taxable funds from their IRA. With this is mind, we suggest checking back for updates from Congress later in the year.

What can I do in the meantime?

Although we are optimistic about the current action on charitable provisions, we suggest that you keep your charitable intentions in mind as you time your IRA withdrawals for the year. If and when reauthorization occurs, you will be able to consider the option of a charitable IRA rollover gift in 2014. As always, we encourage you to review any important decisions involving your IRA funds with your financial advisors.

Please bookmark this page and continue to check back with us for updates!

We are monitoring congressional tax legislation and will continue to post updates on the Charitable IRA Rollover provision as soon as we receive them.

Questions? Concerns?

We're here to help:

Richard Balmadier, Director of Planned Giving
Phone: 1-800-235-2772; at the prompt, dial extension 7251


Erin Mathews, Planned Giving Specialist
Phone: 800-235-2772, at the prompt dial ext. 7409

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