Charitable IRA Rollover—Make a Tax-Free Gift to Yale
The Charitable IRA Rollover allows individuals age 70½ and older to make direct transfers of up to $100,000 per year 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 a charitable deduction, but may be counted toward an individual’s minimum required distribution.
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.
Click here to download a Charitable IRA Rollover Gift Instructions form to send to your IRA administrator.
Yale's tax ID# is 06-0646973
For more information, please contact:
Office of Planned Giving
This is not intended to be legal or tax advice. We encourage you to consult your own legal or tax advisor to see how you may be affected by the new law.