IRA Rollover Gifts

Smarter Ways To Give

If you are looking for other ways to support the Church beyond writing a check or using a credit card, you have come to the right place! Below is one of the many SMART WAYS to give that may work better for you and ensure the good works of the Church for a brighter future!

Your 70th Birthday

The IRS requires owners of IRAs to begin annual withdrawals from these accounts after they turn 70½ years old. These annual withdrawals are referred to as Required Minimum Distributions (RMD). The amount that you have to withdraw is determined by your age, the amount you have saved in an IRA, and your life expectancy.

These distributions must be made each subsequent year, and failing to make a withdrawal may result in penalty taxes on the amount that should have been withdrawn.

No Taxes Owed From Your IRA

Distributions from an IRA are usually treated as taxable income. However, you can avoid this taxable income by making a Qualified Charitable Distribution (QCD). A QCD is a direct transfer of funds from your IRA trustee to a qualified charity.

Meeting Your Daily Needs AND Creating a Legacy

The IRA Rollover was born out of The Pension Protection Act of 2006 (PPA). It was important because it could help older taxpayers satisfy their required minimum distribution (RMD) requirements while obtaining their charitable giving goals. It allows individuals to roll over up to $100,000 from an individual retirement account (IRA) directly to a qualifying charity; like the Diocese of Toledo; without it being included in their gross income. The Act expired and was extended several times until it was made permanent in 2015.

Meeting The Requirements

In order to qualify, a person must adhere to certain requirements:

  • The donor must be at least aged 70 ½ at the time of the gift.
  • Distributions have to be made from the IRA trustee directly to the valid non-profit. If a distribution check is made payable to you, the distribution would NOT qualify as a QCD and would be treated as taxable income.
  • Distributions must come from a traditional IRA or Roth IRA. Some plans — such as 401k, 403b, and SEPs — are not eligible.

Creating Your Legacy Gift

Making a distribution is an easy process. Simply contact your plan administrator and tell them you would like to make a charitable donation from your IRA. Typically, they will supply you with a distribution form for you to fill out and return.

In some cases, your administrator may tell you that they have to send the check directly to you. That is fine, however, in order to have a qualified charitable deduction (QCD) the check would need to be made payable to Roman Catholic Diocese of Toledo in America as your chosen designation. You would then simply mail the check to us. Please remember, if the check is made out to you it will not qualify for the charitable deduction.

At the end of the year, the administrator will provide you with a Form 1099-R so you can report it on your taxes. The distribution will go on your Form 1040 tax return, where you will report the distribution as a non-taxed QCD. See the Form 1040 instructions and contact your tax professional for additional information.

Contact Brian Doyle; Mission Advancement Officer at or at 419.214.4951 to learn more about how you can give the gift of future support and create your legacy within the Diocese of Toledo and our Catholic community.