IRA Charitable Rollover
The IRA charitable rollover is now permanent and is a terrific way to make a tax-free gift to University of Puget Sound using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).
How Do I Qualify?
- You must be 70 ½ years old or older at the time of the gift.
- Gifts must go directly from your IRA to University of Puget Sound.
- Gifts must come from a traditional IRA or Roth IRA account.
- Gifts cannot exceed $100,000 per donor.
Benefits of an IRA Charitable Rollover Gift
- Gifts can satisfy your RMD without increasing your income taxes.
- You will not pay taxes on your IRA withdrawal when gifted to University of Puget Sound.
- You may direct your gift to a program or area of your choice.
- It is a wonderful way to create an immediate impact on University of Puget Sound.
The Office of Capital and Planned Giving can provide you with a letter to send to your IRA administrator to make an IRA charitable rollover.