Tax Free IRA Transfers
Alert: Make your tax free IRA gift before December 31
If you’re 70½ or older, a charitable gift transferred from your IRA directly to Boston Children’s will not be taxed and will qualify toward your required minimum distribution (RMD), maximizing benefits to you and our patients. (Please review eligibility guidelines below.)
Want to make a tax-free distribution from your IRA to Boston Children’s Hospital? You can! Simply contact your IRA administrator to request that a charitable distribution be transferred to Boston Children's. If your plan requires this request in writing, use our sample letter.
- Avoid federal and, in many cases, state income taxes.
- Satisfy your required minimum distribution.
- Provide critical support for Boston Children’s Hospital.
- Designate your gift to support the program or department that is most meaningful to you.
Guidelines for charitable IRA rollover gifts
- You must be at least 70½ years of age when the gift is made.
- 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.
- IRA rollover gifts can be used to pay a pledge.
- Contributions for life income gifts, such as charitable gift annuities or charitable remainder trusts, do not qualify.
- Transfers must be made by December 31 to qualify for the current tax year.
Steps to make a Charitable IRA Rollover gift to Boston Children’s Hospital
- Contact your IRA administrator to request that a charitable distribution be transferred to Boston Children’s Hospital or use our sample letter.
- To ensure your gift is properly recognized, instruct your IRA administrator to indicate the donor’s name on the check and specify the gift is a charitable IRA distribution.
- Inform us of the designation of your gift by contacting Laureen Cahalane, Senior Director, Principal and Planned Gifts, at 671-355-8062 or firstname.lastname@example.org.