Make the most out of your IRA this year

For U.S. donors, supporting the Kiwanis Children’s Fund and The Eliminate Project has become even easier. Last December, Congress passed the Protecting Americans from Tax Hikes Act of 2015. The law makes it easier for donors with an Individual Retirement Account to give to the causes they support.

In the past, incentives for donors were limited, as even IRA withdrawals for charities were subject to income tax. That has now changed: Donors may transfer up to US$100,000 to charitable organizations directly from their IRA without incurring tax.

Here are a few important things to know about the IRA charitable rollover:

  • Donors age 70 ½ or older are eligible.
  • Tax-free IRA transfers may amount up to US$100,000 annually.
  • This opportunity only applies to IRAs. Other retirement plans are not eligible.
  • Donors may give to more than one charity through an IRA.

Want to know if this is the right option for you? Contact us at 1-800-KIWANIS, ext. 254.

Note: The Kiwanis Children's Fund does not provide financial or legal advice. We recommend you consult your financial and legal advisors about your personal situation before making a gift.