Tax Free IRA Transfers Just Approved

Act quickly—deadline December 31, 2014!

The IRA Charitable Rollover has just been extended for the 2014 tax year. This opportunity allows qualifying taxpayers to make transfers from their IRA to Boston Children’s Hospital — tax free! (Please review eligibility guidelines below.)

This extension, written into law December 19, 2014, is retroactive to January 1, 2014. If you already made a qualifying IRA distribution to Children’s in 2014, let us know to ensure you have the proper tax receipt.

Want to make a tax-free distribution from your IRA to Boston Children’s now? You can! Simply contact your IRA administrator to request that a charitable distribution be transferred to Boston Children's. Most plans require this request in writing. Use our sample letter for the 2014 tax year.

Benefits

  • Satisfy requirements for annual minimum withdrawals.
  • Avoid federal and, in many cases, state income taxes.
  • Your gift can be designated to support a program or department that is most meaningful to you.
  • You have the satisfaction of providing critical support to Boston Children's.

Guidelines for charitable IRA rollover gifts

  • You must be age 70½ or older at time of distribution.
  • Transfers from traditional IRAs or Roth IRAs are eligible.
  • Transfers must be made directly by the IRA administrator to Boston Children's.
  • A maximum of $100,000 per taxpayer, per year qualifies for the tax-free status.
  • Gifts cannot be used to fund life-income gifts, such as charitable trusts, or gift annuities.
  • Transfers must be made by December 31, 2014.

Creating your legacy

Please contact your IRA administrator to request that a charitable distribution be transferred to Boston Children's. Most plans require this request in writing. Use our sample letter for the 2014 tax year.

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