Charitable IRA Rollover Gifts
Across the world CRS is helping to address urgent needs for the most vulnerable and your IRA Rollover Gift can do more to help those who suffer. An IRA Rollover is an easy way to help by making a qualified charitable distribution from your traditional or Roth IRA directly to CRS to support our life-giving work and avoid increasing your taxable income.
You can make a charitable IRA rollover gift if:
- You are over 70½.
- You transfer funds directly from a traditional IRA or a Roth IRA, and your IRA gifts for a given tax year total $100,000 or less.
- You transfer the gift outright to one or more public charities such as Catholic Relief Services, but not to supporting organizations, donor advised funds, charitable trusts or gift annuities.
If you are ready to complete an IRA Rollover there are three easy ways:
- Complete this form and send it to your IRA Custodian,
- Complete the form your IRA Custodian has and use CRS' Tax ID number 13-5563422
- If your custodian has provided checks to use for your IRA distributions, make the check payable to "Catholic Relief Services" and note "Qualified Charitable Distribution" in the memo line.
- Remember, the tax benefits of an IRA Rollover will not apply if you make the distribution check out to your name and then donate that amount to charity. To qualify as a "QCD" it much come directly from your account to CRS.
- If your administrator provides you an IRA checkbook, please note that the date of your QCD is NOT the date you send the distribution check, but the date that your IRA administrator transfers the funds to the charity. If you want your distribution check to be credited toward the current tax year, it is critical that you write your check several weeks before the end of the year to ensure there is time for the check to be received by CRS and to clear your account. This is especially true if you are relying on those gifts to fulfill your required minimum distribution.
Remember to consult with your tax planner or financial advisor before making any decisions regarding your IRA account.
To Learn More:
Questions? Concerns? We're here to help:Planned Giving Team
800-235-2772, ext. 7262