Rollover your IRA for good

12/24/2017

Planned Giving at BHF

If you're like most people receiving annual income from an IRA, you want to help reduce your tax bill each year.

A great way to save on your taxes while supporting the causes and programs important to you is by rolling over part or all of your required minimum distribution, or RMD, to a charity like the Banner Health Foundation or Banner Alzheimer’s Foundation.

And, you can feel good about contributions that are invested locally to support patient care programs and services at Banner’s many health care facilities across Arizona.

Roll Your IRA at 70andahalf

If you're 70½ or older, you can direct your IRA administrator to distribute a gift from your IRA to the Banner Health Foundation or Banner Alzheimer’s Foundation. Any amount you transfer counts against your RMD. 

Visit our Planned Giving Center to find out more about IRA Rollovers and other planned gift options

IRA rollover gifts are easier than ever

First, contact your IRA administrator.

  • With the popularity of IRA rollovers, your administrator will likely have forms and a procedure ready.
  • You can direct a transfer of up to $100,000 to be made this year from your IRA to a qualified charity such as the Banner Health Foundation or Banner Alzheimer’s Foundation.
  • You will pay no income taxes on the amount transferred.

Keep this in mind

  • Because you are not claiming the transferred amount as income, you will not receive a charitable contribution deduction for your gift.
  • We are ready to assist you in making an IRA rollover gift. Contact us or call 602.747.4483.

Double the benefits!

The law allows up to $100,000 per person to be distributed from an IRA to a qualified charity each year. If you are married, this means you and your spouse can each give up to $100,000 per year as long as you each own an IRA. If you file taxes jointly, a double gift can go a long way toward reducing your taxes.

What if you have a 401(k) or other retirement account?

The IRA rollover applies only to IRAs. If you have a 401(k) or other retirement account that requires minimum distributions, you cannot make an IRA rollover gift. However, if the idea of using the IRA rollover appeals to you, it is often possible to roll over funds from your other accounts into your IRA and then make a rollover gift. Talk with your advisor about whether this option makes sense for you.