The IRA Charitable Rollover Provision has been Extended


The IRA Charitable Rollover Provision has been extended to allow individuals 70½ and older to transfer tax-free up to $100,000 per year from their Individual Retirement Account (IRA) to a qualified charity.

You can use your IRA to make a gift to the the Rohr Chabad Jewish Center (Chabad of Hyde Park).

The benefits are:

  • IRA distributions directly to charities are not treated as a taxable distribution to you (but you would not receive a charitable deduction for the distribution amount);
  • You would be able to remove taxable assets from your estate;
  • Gifts qualify for your IRA required minimum distributions;
  • Your generosity would help us make a difference to Jewish life in Hyde Park and the UofC.

Further requirements are as follows:

  • Distributions can only be made to qualified charitable organizations such as Chabad of Hyde Park;
  • Distributions must be made directly to the charitable organization through the plan administrator; and
  • IRA charitable rollover distributions may not be made to a philanthropic fund, supporting foundation, split interest trust or charitable gift annuity.

Given the potential benefits to you, you may want to act quickly. We encourage you to consult with your professional advisor and to call our office at 773-955-8672 or email to learn more about how distributions from your IRA may fit into your charitable giving plans.

To download a sample form to send to your IRA planner, click here 


For later IRA gifts to Chabad, click here