NEW LAW: No Required Minimum Distributions in 2020!
As a part of the CARES Act, Congress has temporarily eliminated most required minimum distributions (“RMD”) from retirement plans during 2020. Check with your financial advisor to see how this might affect you. Even without an RMD, a QCD remains a great way to make tax advantageous contributions. Learn more about the CARES Act.
Here is a tax-smart way to make an impact to Saint Elizabeth University using your traditional or Roth IRA. The IRA charitable rollover (also called the Qualified Charitable Distribution, or QCD) is a great way to make a tax-free gift to Saint Elizabeth University and satisfy your Required Minimum Distribution (RMD). If you are not required to take an RMD but no longer itemize your deductions, then a QCD may be right for you as well.
How Do I Qualify?
The IRA charitable rollover (QCD) offers multiple benefits for making gifts from your traditional or Roth IRA.
Benefits of an IRA Charitable Rollover Gift
How can I make an IRA Charitable Rollover?
Contact your IRA administrator for their QCD distribution form and information on the procedure to make such a gift.
Saint Elizabeth University can provide you with a letter to send to your IRA administrator to make an IRA charitable rollover. If you are interested in making such a gift or would like more information, please call 973-290-4711 or email TValentino@steu.edu.