Permanent IRA Charitable Rollover Approved

In late December 2015, Congress signed into law the IRA Charitable Rollover provision — and now it’s permanent! This law allows donors to contribute a portion of their IRA to a charity, such as MaineGeneral Health, and avoid paying any income tax on it.

Who is eligible?
Anyone with an IRA who is 70-½ years of age or older.

How much can I donate using my IRA?
Up to $100,000 per year.

Does this count toward my minimum distribution that I am required to take from my IRA? Yes. And you will not pay income tax on this distribution when you make a direct transfer from your IRA to MaineGeneral Health.

What should I do next?

  • Talk to your financial advisors. 
  • Begin planning now for 2016 distributions.
  • Tell your IRA administrator that you want to make an IRA Charitable Rollover gift to MaineGeneral Health.

Questions? Contact Chelsea Moeller at (207) 626-1322 or chelsea.moeller@mainegeneral.org.

Note: This is not professional tax or legal advice. Donors should consult their tax and legal advisors regarding their specific situation.

MaineGeneral Health
Office of Philanthropy

Physical location
35 Medical Center Parkway
Augusta, ME  04330-8067
Phone: (207) 626-1809
philanthropy@mainegeneral.org

Mail only
PO Box 828
Waterville, ME  04903

Copyright 2016 MaineGeneral Health Office of Philanthropy