IRA Qualified Charitable Distribution
On December 18th, 2015, the President signed into law the Protecting Americans from Tax Hikes (PATH) act, which includes a permanent extension of the Charitable IRA Rollover. Donors may now take advantage of the opportunity to make a Charitable IRA Rollover (also known as a Qualified Charitable Distribution)--a nontaxable distribution made directly by the administrator of an IRA to a qualified public charity.
Qualified Charitable Distribution (QCD) benefits include:
- A QCD from a traditional IRA uses pre-tax dollars.
- Generally, a QCD is excluded from taxable income.*
- A QCD can be applied to required minimum distributions, if applicable.*
*The SECURE Act, which became effective January 1, 2020, raised to 72 the age for beginning required minimum distributions, but retained the age of 70 ½ for making QCDs. It also authorizes tax-deductible contributions to IRAs after age 70 ½ if the IRA owner is still working. If a tax-deductible contribution is made to an IRA after age 70 ½, the amount that may be excluded from income for a later-made QCD may be affected. Please consult your tax advisors for more information about this and other questions regarding IRA QCDs.
Basic requirements and limitations for a Qualified Charitable Distribution include:
- The donor must be at least 70½ years of age at the time of the distribution.
- The distribution must be from a Roth or Traditional IRA.
- The distribution must be made directly from the IRA administrator to a qualifying charity such as The Church of Jesus Christ of Latter-day Saints or any of its institutions of higher education (gifts made to a donor-advised fund, supporting organization, or private foundation do not qualify).
- Qualified Charitable Distributions are limited to $100,000.00 per individual per year (a spouse who qualifies may give a similar amount from his or her IRA).
The Church of Jesus Christ of Latter-day Saints IRA/QCD Instructions
To make an IRA qualified charitable distribution to the Church that includes tithing, fast offerings, and/or ward mission fund:
The Church is able to accept IRA Qualified Charitable Distribution (QCD) payments from donors when adequate information is provided with each donation. To accommodate the process, donors need to work with their IRA companies to ensure each payment includes the following information:
- Donor’s Member Record Number (Required)
- Donor’s Full Name (Required)
- Donation Categories
here are two options to get your IRA distributions to the Church:
Have the IRA company send the distribution check directly to Church Headquarters at the address shown below. You must ensure the IRA company includes donor information (as listed above). If there is not sufficient information to identify the donor, we have no choice but to return the check to the IRA company.
Have the IRA company send the distribution check made payable to The Church directly to the donor who will then be responsible to include the required donation details (as listed above). The donor must send the original check from the IRA company, with the required donation details, to the Church at the address below. (Do not endorse the back of the check)
Do Not give the check to your Ward Clerk or Bishop to process. They do not have the appropriate tools to properly receipt these types of donations.
All checks should be made payable to: The Church of Jesus Christ of Latter-day Saints
An acceptable version of the payee name: The Church of Jesus Christ
Tax Identification Number: 87-0234341 (Tax ID does not need to be included on the check/stub)
Checks should be delivered to:
The Church of Jesus Christ of Latter-day Saints
50 E North Temple Street, Room 1521/IRA
Salt Lake City, UT 84150
Church Headquarters will e-mail donors an “Agency Acknowledgement Letter” on the 5th of the month following the donation. The Church acknowledgement letter simply confirms the Church received the funds and is a quailifed charity.
IRA donations will not show up on the donor’s “Tax-valid Summary Statement” or be visible at the ward level, however the member can view the donation by logging into www.ChurchofJesusChrist.org under "Third Party Donations."
Fast Offering donations will reflect in ward "Income and Expense Details" and Ward Missionary donations will add to the specific Misionary's balance.
To make an IRA qualified charitable distribution to the Church or one of its affiliated charitable institutions that does not include tithing, fast offerings, and/or ward mission fund allocations, a donor should:
- Determine from the following the appropriate payee and Tax ID Number:
- Church General Fund
- Humanitarian Aid Fund
- General Missionary Fund
- The Church of Jesus Christ of Latter-day Saints (87‐0234341) for donations to the Church or its charitable priorities such as:
- Brigham Young University (87-0217280)
- Brigham Young University-Idaho (82-0207699)
- Brigham Young University-Hawaii (99-0083825)
- BYU-Pathway Worldwide (82-1516199)
- Ensign College (87-0280678)
1450 N. University Ave
Provo, UT 84604
- Fax: 801-356-5206
Email: Spencer Powelson
Philanthropies or Treasury Services will mail to the donor an acknowledgment letter after the donation is received.
The foregoing information is intended as general information only and is not intended as legal, tax, or other professional advice. Donors and others should consult their own tax professional(s) for specific legal or tax advice on this matter.
For a detailed discussion of the services we provide you and your advisors, please contact us at 1-877-650-5377 or by email.