President Signs Bill to Make IRA Rollover Permanent
A gift of retirement assets can be a convenient, tax-efficient way to support Habitat for Humanity of New Castle County.
On December 18, President Obama signed legislation to make the charitable IRA rollover permanent and retroactive to the beginning of 2015. The rollover is a convenient, tax-efficient way for donors who are at least 70 ½ years old to support Habitat for Humanity of New Castle County. See below for more information about the charitable IRA rollover and how to make your gift.
How the IRA Rollover Works
With the Charitable IRA Rollover now permanent, individuals who are 70 ½ or older may transfer up to $100,000 a year directly from their traditional IRA to a qualified charity, such as Habitat for Humanity of New Castle County. If a spouse has a separate IRA, he or she can also make a charitable IRA rollover gift. The amount of the transfer will not be included in your taxable income, and the transferred amount can count toward your required minimum distribution.
How to Make an IRA Rollover Gift
If you are considering a charitable gift from your IRA during 2015, consult with your advisor to determine if the charitable IRA rollover is a good option for you. The information below will help you accomplish your rollover gift as quickly and seamlessly as possible:
- Contact your IRA custodian and instruct your custodian to make a distribution directly to Habitat for Humanity of New Castle County.
- Provide your IRA custodian with our tax ID number – 51-0294138 – and the following contact information: Habitat for Humanity of New Castle County, Troy Nuss, Chief Development Officer, 1920 Hutton Street, Wilmington, DE 19802 – 302.652.0365 ext. 119 – firstname.lastname@example.org
- Notify the Chief Development Office by phone or email that your gift is on its way.