IRA: Qualified Charitable Distributions

IRA Charitable Rollover are Now PermanentQCD Provision Extended Permanently!

With the passage of the Protecting Americans from Tax Hikes (PATH) in late 2015, the provision for Qualified Charitable Distributions (QCDs) from an IRA has been renewed and made permanent.

 

This provision allows individuals 70-½ and older to rollover funds directly from their IRA account to the Fraternity – tax-free.

A Qualified Charitable Distribution allows the donor to satisfy their Required Minimum Distribution, and funds contributed do not count as Adjusted Gross Income. This is a great advantage to the donor!

All IRA rollovers for 2019 must be made by Dec. 31, 2019.

Listed below are the basic guidelines of the provision:

  1. The donor must be age 70-½ or older at the time of the gift.
  2. $100,000 is the annual rollover maximum per person.
  3. The charitable donation must be distributed directly from a traditional or Roth IRA to the Fraternity:

Priestly Fraternity of St. Peter, Inc.
450 Venard Rd.
South Abington Township, PA 18411

EIN: 06-1271475

This is a great opportunity to support work of the Priestly Fraternity of St. Peter via a tax-free direct contribution from your IRA. For more information, or to arrange a donation via QCD, please contact Joe Gardner, Director of Planned Giving, at (570) 319 – 5271 or jgardner@fssp.com.