IRA Rollovers

If you are 70½ years of age and own an IRA, you may transfer a gift of up to $100,000 from your IRA to PLTS tax free. The Pension Protection Act of 2006 authorizes such withdrawals through December 31, 2009. To qualify, charitable gifts must be made from a traditional or Roth IRA and the donor must direct the IRA manager to transfer funds directly to charity. A withdrawal followed by a contribution will still have to be reported as income. The gift must be outright. Rollovers to a planned gift, such as a gift annuity or a charitable remainder trust, do not qualify. Speak with your IRA trustee or tax advisor to ensure this new, and temporary, opportunity meets your personal financial and philanthropic goals.

To explore the possibilities of making IRA Rollovers and other gifts, contact the PLTS Office of Seminary Relations at (510) 559-2735, (800) 235-7587, or .