IRA Charitable Rollover

IRA Charitable Rollover 
Do you need to take a Required Minimum Distribution (RMD) this year from your retirement plans?  A Qualified Charitable Distribution (QCD) or IRA Rollover is a direct transfer of funds from your IRA custodian, payable to a qualified charity, and may be counted toward satisfying your RMD’s for the year. In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, unlike regular withdrawals from an IRA.  There are various requirements such as:

• You must be 70 ½ or older to be eligible to make a QCD.
• Funds distributed directly to you, the IRA owner, which you then give to charity do not qualify as a QCD. 
• Not all charities qualify for QCDs. 

As a result of this and various other requirements, you should check with a tax and/or your investment advisor before making a decision.
SS. Peter & Paul Parish does qualify for QCD’s from your retirement account.  Remember, a QCD distribution must be transferred directly from the IRA to the charity which can save you more in taxes than taking the distribution first? 

Contact the parish office for more information - (916) 624-5827