REGARDING RECENT CHANGES

Section 307, One-time election for qualified charitable distribution to split-interest entity;

increase in qualified charitable distribution limitation. Section 307 expands the IRA charitable

distribution provision to allow for a one-time, $50,000 distribution to charities through charitable

gift annuities, charitable remainder unitrusts, and charitable remainder annuity trusts, effective for

distributions made in taxable years beginning after the date of enactment of this Act. Section 307

also indexes for inflation the annual IRA charitable distribution limit of $100,000, effective for

distributions made in taxable years ending after the date of enactment of this Act.

Section 325, Roth plan distribution rules. Under current law, required minimum distributions

are not required to begin prior to the death of the owner of a Roth IRA. However, pre-death

distributions are required in the case of the owner of a Roth designated account in an employer

retirement plan (e.g., 401(k) plan). Section 325 eliminates the pre-death distribution requirement

for Roth accounts in employer plans, effective for taxable years beginning after December 31,

2023. Section 325 does not apply to distributions which are required with respect to years

beginning before January 1, 2024, but are permitted to be paid on or after such date.

This law also increased the age for Required Minimum Distributions from 72 to 73, effect January 1, 2023 and will gradually increase it to 75 by 2033.   There are also changes to the catch-up limits, among other things.

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IRA Charitable Rollover

You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work and benefit this year.

Benefits of an IRA charitable rollover
Avoid taxes on transfers of up to $100,000 from your IRA to our organization.

Satisfy your required minimum distribution (RMD) for the year Reduce your taxable income, even if you do not itemize deductions

Make a gift that is not subject to the deduction limits on charitable gifts
Help further the work and mission of our organization

How an IRA charitable rollover gift works:

1. Contact your IRA plan administrator to make a gift from your IRA to us.
2. Your IRA funds will be directly transferred to our organization to help continue our important work.
3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
4. Please contact us if you wish for your gift to be used for a specific purpose.