IRA Charitable Rollover Contributions

You can make a big difference in furthering WFAE’s mission: If you are 70½ or older you can lower your taxable income from IRA withdrawals by making a donation to WFAE directly from your IRA account!

WHERE TO DIRECT IRA ROLLOVER DISTRIBUTIONS:

Your plan administrator should mail your distribution to the following address: 

WFAE
8801 J.M. Keynes Dr. Ste. 91
Charlotte, NC 28262

You can download a sample letter to send to your plan administrator making your request.

GUIDELINES FOR IRA ROLLOVER GIFTS:

  • You must be at least 70 1/2.
  • You may distribute up to $100,000, which will count toward your required minimum distribution.
  • Distributions must be made directly from IRA trustee/administrator to qualifying public charity. 
  • Gifts must be outright; no material benefits can be received in exchange. Gifts may not be rolled into an income producing gift vehicle.
  • Gifts are not included in federal taxable income, thus no charitable deduction is allowed. State tax rules vary and individual information should be sought from a professional.
  • Gifts may only be made from an IRA. Gifts from a 401(k), 403(b) ad 457 plans are not permitted.

WHAT STEPS SHOULD YOU TAKE TO MAKE THE GIFT?

  • Contact your IRA custodian for directions on how to initiate the transfer.
  • Contact Jorge Fernandez at (704) 926-9327 about your gift and for any other assistance we may be able to provide in requesting the transfer and completing the gift.

All information is intended to be illustrative in nature and may not cover all issues pertinent to every individual situation. Consult with your financial or legal advisor to determine how this will impact your own personal situation.