IRA Rollover

IRA Rollover

Giving Through Your IRA

The IRA charitable rollover (known to professional advisers as a Qualified Charitable Distribution or QCD) is a terrific way to make a tax-free gift to Brigham and Women’s Hospital using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).

How Do I Qualify?

  • You must be 70½ years old or older at the time of the gift
  • Gifts must go directly from your IRA to BWH
  • Gifts must come from a traditional IRA account
  • Gifts cannot exceed $100,000 per donor per year

Benefits of an IRA Charitable Rollover Gift

  • If you don’t itemize, a QCD offers all the benefits of an income tax charitable deduction.  Your gift to the Brigham is tax-free.
  • Gifts can satisfy your RMD (if you are age 73 or older and required to take withdrawals from your IRA) without increasing your income taxes
  • Gifts can satisfy your RMD without increasing your income taxes
  • You will not pay taxes on your IRA withdrawal when gifted to BWH
  • You may direct your gift to a hospital program or area of your choice
  • It is a wonderful way to create an immediate impact in the lives of patients and their families

Your IRA administrator can help you make a qualified charitable distribution from your IRA. Be aware that many administrators require you to use their QCD distribution form and comply with other requirements. Please note that it is important to follow your financial institution’s forms and procedures to ensure you receive the tax benefits of a QCD.

For more information please review our Frequently Asked Questions or contact:

Leigh Janczak