Making a qualified charitable distribution (QCD) from your IRA, also known as the IRA charitable rollover, can be a tax-smart way to support your philanthropy.
- Be an easy and convenient way to make a gift from one of your major assets.
- Be excluded from your gross income: a tax-free rollover. You may transfer up to $100,000 directly from your IRA if you are no longer contributing to your IRA. (If you have contributed pre-tax income to your IRA after age 70 ½, the percentage of your gift that is tax-free may be reduced.)
- Count toward your required minimum distribution (RMD) if you are required to take one (that is, if you reached age 72 before January 1, 2023 or are 73 or older).
You may contribute a qualified charitable distribution (QCD) if:
- You are age 70½ or older at the time of the gift.
- You transfer the funds outright to one or more qualified charities. The legislation does not permit direct transfers to charitable trusts, donor advised funds, charitable gift annuities, or supporting organizations.
- You transfer your gift from your IRA account. This opportunity applies only to IRAs and not other types of retirement plans.
- You make your gift by December 31 for the gift to qualify this year.
- Please note: If you write a check from an IRA account checkbook directly to a qualified charity, the donation will count on the date the check clears your IRA account. Please allow ample time for the check to be deposited by WTTW and processed by your bank.
To make a direct gift to WTTW and WFMT from your retirement account, contact your IRA administrator.
- You can easily reach out to your IRA administrator with all of the necessary information to give a gift by using our IRA Charitable Gift Request form. Your administrator may need the following information to complete your gift:
WTTW and WFMT
5400 North St. Louis Avenue
Chicago, IL 60625
- To inform us that you have requested a gift be made from your IRA or to give us instructions on how to allocate your gift, you may use our IRA Charitable Gift Notification form.
You can also make WTTW a part of your estate plan by naming us as a beneficiary of your IRA or other retirement account.