UT Tyler Office of Marketing and Communications

Giving at UT Tyler: IRA Rollover for 2010 and 2011

December 20, 2010

The recent passage of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 restores the IRA Charitable Rollover for 2010 and permits its use in all of 2011, according to Larry Wickham, UT Tyler director of gift planning.

The act is retroactive to Jan. 1, 2010, so donors who previously made 2010 IRA rollovers will qualify.

The principal rules for direct transfers from an IRA to a qualified public charity are that the IRA owner must be 70½ or older and that the transfer is for no more than $100,000 each year.

A 2010 transfer qualifies for the required minimum distribution. It must be to a public charity either outright or for a specific purpose, but may not be to a donor advised fund or supporting organization. The transfer is made directly from a trustee to the charitable organization.

For more information about UT Tyler gift planning, visit http://www.uttylergift.org/.

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 Last Published 1/7/11