Use Your IRA as Never Before

The Pension Protection Act of 2006

Allows those who are 70 1/2 or older the convenience of making direct, tax-free transfers from a traditional IRA as gifts to charity.  You may qualify for additional benefits even as you accomplish your philanthropic goals.  We recommend that you check with your financial advisor to see how this method of charitable giving will benefit you specifically.

The Basic Guidelines are

  1. You must be 70 1/2 or older at the time of transfer
  2. Gifts must not exceed $100,000 per year.
  3. Funds must be transferred directly for a traditional IRA to a qualifying charity.
  4. Such gifts count toward a Taxpayer’s Required Minimum Distribution(RMD).

ST. NOEL QUALIFIES!

Please contact the parish office at 440-946-0887 if your financial planner or attorney requires the tax ID number.

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