Tax-Free IRA Charitable Rollover

At the end of 2015, President Obama signed the PATH Act, which enables donors who are 70 1/2 or older to give up to $100,000 from an IRA directly to a qualifying charity tax free.

The Pension Act of 2006 permitted individuals to roll over up to $100,000 from an IRA directly to a qualifying charity – such as the Community Foundation – without recognizing the assets transferred as income. At the end of 2015, the President signed the PATH Act making this special provision permanent.

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Qualifying Gifts

• Made by a donor age 70 1/2 or older
• Transferred from a traditional or Roth IRA directly to a permissible public charity, such as the Colorado Springs Philharmonic.
• Completed during the applicable tax year.
• An amount not greater than $100,000

How To Give

1. Download this document, containing more details and instructions.
2. Send letters a) to your IRA Plan Administrator with instructions to send a gift; and b) to the Philharmonic to let us know to anticipate your gift.

Disclaimer  The information is not a substitute for expert legal, tax, or other professional advice, and we strongly encourage grantmakers and donors to work with counsel to determine the impact of IRA legislation on their particular situations.