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Charitable IRA Distribution

Also known as QCD gift or IRA rollover gift


IRA Charitable Rollover
IRA (Custodian)
Salvation Army
Charity image

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, you may be familiar with the tax benefits of IRA Distribution gifts.

The economic climate and related charitable tax laws are shifting quickly in 2020 in response to the COVID-19 pandemic. For the latest information, call our planned giving office directly at 317-224-1039.

Early in the year, the SECURE Act brought several changes to charitable IRA distributions. However, the recent CARES Act has made additional changes until 2021. Under the CARES Act, the required minimum distribution for 2020 is being waived.

Generally, retirement plan owners over age 72 must take a required minimum distribution (RMD) each year from an IRA or other qualified retirement plan. For 2020, the RMD is waived. (This also applies to inherited IRAs). The RMD for IRA owners will resume in 2021.

Charitable distributions for donors over 70½ continue to be allowed and have the benefit of avoiding taxes on the charitable transfers as well as possibly lowering future year RMDs. However, they do not currently have the benefit of reducing taxable income.

Benefits of an IRA charitable rollover

  • Avoid taxes on charitable transfers of up to $100,000 from your IRA
  • May have the benefit of lowering future RMDs

How a charitable IRA distribution gift works

  1. Notify your IRA custodian to make a direct transfer of the distribution amount from the IRA to

    The Salvation Army
    Indiana Divisional Headquarters
    6060 Castleway West Dr.
    Indianapolis, IN 46250

  2. Your IRA funds will be directly transferred to The Salvation Army to help continue our important work in your community.
  3. Please notify us directly of the expected gift at the above address. Note if your gift is to be used for a specific purpose.
  4. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.

Contact us

If you have any questions about an IRA charitable rollover gift, please contact us. We would be happy to assist you and answer any questions you might have. If you have misplaced or have not received an acknowledgement of your IRA Rollover for tax purposes, please contact Christi Thieme at 317-224-1039 or send your request the address above.

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