The IRA charitable rollover is now permanent and is a terrific way to make a tax-free gift to Trinity College using your qualified retirement plan. This gift may also satisfy your required minimum distribution (RMD).

How Do I Qualify?

  • You must be 70 ½ years old or older at the time of the gift.
  • Gifts must go directly from your IRA to Trinity College.
  • Gifts must come from a traditional IRA or Roth IRA account.
  • Gifts cannot exceed $100,000 per donor.

Benefits of an IRA Charitable Rollover Gift

  • If you don’t itemize deductions and are not yet required to take your RMD, a QCD offers all of the benefits of an itemized income tax charitable deduction. 
  • If you are age 72 or older and must take your RMD, a QCD can satisfy your RMD without increasing your income taxes.
  • You will not pay taxes on your IRA withdrawal when gifted to Trinity College.
  • You may direct your gift to a program or area of your choice. 
  • It is a wonderful way to create an immediate impact on Trinity College.

Important Note: Many large IRA administrators now offer IRA owners the option to write checks off their IRA account. However, the date of gift is not established when you put the check in the mail. Rather, the QCD rules require action by the IRA administrator, which means the date of gift is established when the IRA administrator transfers funds after the charity deposits the check. If you mail an IRA check in late December and the charity doesn’t cash it until early January, two problems occur:

  1. You will have to declare your QCD on the following year's tax return.
  2. If you miss fulfilling all of your required minimum distribution for the year because of the delay, you will have to pay a 50% penalty tax on the amount of under distribution.

We encourage you to make your charitable IRA rollover gifts several weeks before the end of the year if writing your own check.