IRA Minimum Distribution Rollover

What is an IRA Charitable RMD Rollover, and how can I use it to reduce my taxable income?

When an individual reaches age 72, they must typically begin taking an annual withdrawal from their IRA.  For a traditional IRA account, these funds will be taxed as income – unless you choose to have them given directly from your IRA account to a church or charity. This is called an “RMD Rollover.”

The IRA Charitable Rollover, passed by Congress, allows donors to distribute some (or all) of your required minimum distribution (RMD) to the “RCUS Endowment Fund” as a qualified charity. The RCUS tax I.D. number is 51-0202914.

The amount donated will not be subject to income tax for that year. To make a gift using your RMD, please contact the custodian of your IRA and give the following instructions in order to take advantage of this provision:

Instruct your custodian as to the dollar amount of your RMD that you desire to be donated directly to the RCUS Endowment Fund  this year.

This is in accordance with the IRA Charitable Rollover Legislation.

Request that your custodian mail the check payable to: “RCUS Endowment Fund” and send to: Randall Schroeder, RCUS Treasurer, 620 S. Clydes Way, Archbold OH 43502 

Please request that the check include a notation with your name on it. You will then receive an acknowledgment of this distribution from the Reformed Church. although this will not qualify for a charitable deduction. Tax documents for this distribution will be provided by your IRA custodian.

The amount distributed will not be reported as income to you this year. If you have further questions, please contact:

Roger Gallimore

Thank you for prayerfully considering this investment in the work and ministry of the Reformed Church.

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