Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out

IRA Charitable Rollover 2011 Fact Sheet

VIEWS: 4 PAGES: 1

									IRA Charitable Rollover

Good News! The Tax-Free IRA Charitable Rollover is Back!

The special opportunity that expired at the end of 2009 has been extended to
December 31, 2011.

Under this new extension legislation, a gift to GW from your IRA can:

   1. Count toward your required minimum distributions and
   2. Be excluded from your gross income: a tax-free rollover.

For your IRA gift to qualify for benefits under this extension:

      You must be 70 ½ years or older at the time of the gift
      Transfers must go directly from the IRA to The George Washington
       University
      Your total IRA gift(s) cannot exceed $100,000 per year
      Your gift must be outright
      To take advantage of this opportunity for the 2010 tax year, you must have
       your plan distribute the gift to GW by January 31, 2011.


The Next Step
After consulting your financial and tax advisors to see whether the IRA Charitable
Rollover is right for you, the next step is to contact the trustee of your IRA
account and request a qualified charitable distribution. Most IRA custodians
have a written form for you to complete the transfer. Otherwise, you must send a
written request to your trustee. A sample letter is attached.

Also, please be sure to contact GW to let us know to expect a distribution from
your IRA account. Because the qualified charitable distribution requires
substantiation just like a normal gift, we want to send you an acknowledgment
that we have received the noted funds. Checks must be made out to The
George Washington University, and your IRA custodian should send the
distribution check directly to GW at the following address:

       John Kendrick
       Office of Planned Giving
       The George Washington University
       2100 M Street, NW, Suite 310
       Washington, DC 20037
       (202) 994-6131

								
To top