Qualified Charitable Rollover

Qualified Charitable Rollover Giving

If you are considering a charitable contribution this year, it is in your best interest to seek out the most effective manner in which your money can work for you. Gifting your Required Minimum Distribution (RMD) is one of the most effective means of tax savings available.

Qualified Charitable Distribution: Individuals age 70½ or older are mandated in taking a Required Minimum Distribution (RMDs) from their tax-deferred retirement accounts including Traditional Individual Retirement Accounts (IRAs) as well as other employer-sponsored retirement plans.

Benefits of a Qualified Charitable Rollover:

  • Avoid income taxes on transfers of up to $100,000 from your IRA to Phantom Regiment
  • Satisfy your required minimum distribution (RMD) for the year
  • Reduce your taxable income, even if you do not itemize deductions
  • Make a gift that is not subject to the deduction limits on charitable gifts
  • Help further the work and mission of Phantom Regiment

How It Works

  1. Contact your IRA plan administrator to make a gift from your IRA to us. (Click here for a sample letter to your IRA administrator for your distribution and to Phantom Regiment.)
  2. Your IRA funds will be directly transferred to Phantom Regiment to help continue our important work.
  3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
  4. Please contact us if you wish for your gift to be used for a specific purpose.

Phantom Regiment does not provide tax advice. All decisions regarding the tax implications of your investments should be made in connection with your tax and legal advisors. Phantom Regiment is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code.

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