President Barack Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 into law on December 17th, 2010. This law extended the IRA Rollover provision first introduced in 2006 and gives you the opportunity to make a tax free transfer of up to $100,000 per person from your Traditional or Roth IRA directly to charities like the Columban Fathers. You may also county this gift toward fulfilling your required minimum distribution for 2011.
To qualify for the IRA rollover, the donor must direct the IRA manager to transfer funds directly to a charity. A withdrawal followed by a contribution must still be reported as income. The donor must be at least age 70½ , and the charity must be a tax-exempt organization to which the deductible contributions can be made.
We are asking to you prayerfully consider an IRA rollover to the Columban Fathers. This law regarding tax free IRA gifts is one opportunity you have to serve as good stewards, charitably managing the gifts that have been entrusted to you. The support of our generous Columban benefactors has enabled us to spread the Gospel for over 90 years. Countless lives have been changed and transformed through God’s love, yet the work is still unfinished.
The form provided below will show you how to direct transmittable funds according to the Pension Protection Act and Section 408 of the Internal Revenue Service Code. I am grateful that you might explore this option with your IRA fund manager. Should you decide to proceed with an IRA rollover to assist in our mission work, please let us know so that we can be watching for your gift.
If you have additional questions about the IRA Rollover or other planned giving opportunities, please do not hesitate to contact our Planned Giving office by email at email@example.com or call us toll free at 877-299-1920 ext. 242 or 287.