IRA Charitable Rollover Now Permanent

See the Benefits Available to You

Congress reinstated a law that allows you to make a tax-free gift from your individual retirement account (IRA). Known as the IRA charitable rollover, this law no longer has an expiration date so you are free to make annual gifts to Northwestern Michigan College Foundation from your IRA this year and well into the future.

The recently reinstated law allows individuals 70½ and older the ability to transfer up to $100,000 from their individual retirement accounts directly to a qualified charitable organization without being subject to income taxes on the distribution.

Here are the Details:

  • You are age 70½ or older at the time of the gift.
  • You transfer up to $100,000 directly from your IRA. This opportunity applies only to IRAs and not other types of retirement plans.
  • You transfer the funds outright to one or more qualified charities. The legislation does not permit direct transfers to charitable trusts, donor advised funds, charitable gift annuities or supporting organizations.

Learn more »