IRA Charitable Rollovers
Did you know that taxpayers 70½ and older are required to take annual distributions from an IRA? These are ultimately subject to taxation.
But there’s a way to save on your taxes – and support our community.
With rollover contributions from your IRA, you can donate up to $100,000 each year to charitable organizations such as United Way – completely tax-free.
You or a loved one can use your investment to help build a stronger community.
HOW TO MAKE A DISTRIBUTION
Here is how you transfer funds from your IRA to United Way of the Eastern Panhandle:
- Contact your IRA administrator
- Tell your IRA administrator you wish to make a direct distribution from your IRA to United Way of the Eastern Panhandle
- Request a check made payable to United Way of the Eastern Panhandle and indicate it is a distribution from the account of (your name)
- Provide United Way of the Eastern Panhandle's Federal Tax ID #: 55-6024725