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How Charitable IRA Rollovers Work

Legacy Giving
Charitable IRA Rollover

ALERT: IRA Charitable Rollover Tax Extended through Dec. 31, 2014.

Under federal legislation signed on Dec. 19, you can make a tax free distribution from your Individual Retirement Account to Boston College in 2014.

Individuals age 70½ and older can direct their IRA administrator to make an IRA distribution directly to BC and exclude the gift amount from their gross income for federal tax purposes.

If made by Dec. 31, 2014, your gift can:

  • Satisfy requirements for annual minimum withdrawals
  • Avoid federal and, in many cases, state income taxes
  • Provide critical support to the BC department, school, or initiative of your choosing

Maximize your 2014 charitable gift—and create an immediate and tangible impact at the Heights.

If you have already made an IRA transfer to BC any time in 2014, your gift will be covered by this tax extension. It is important to note, however, that gifts made after Dec. 31, 2014, will not be eligible without additional legislation.

To be eligible:

  • You must be 70½ years of age or older at time of distribution
  • Transfers from traditional and Roth IRAs must be made directly from the account administrator to Boston College
  • Total charitable gifts cannot exceed $100,000
  • Gifts must be made by Dec. 31, 2014

Making a Gift

Donors should contact their IRA administrator to request that a charitable distribution be made to Boston College.

Checks may be sent to:

Boston College
Office of Gift Planning
Cadigan Alumni Center
140 Commonwealth Avenue
Chestnut Hill, MA 02467
Boston College Tax ID: 04-2103545

Note: The charitable IRA rollover extension is federal law; state and local law may not provide the same benefits.

To discuss your giving options in confidence, please contact the Office of Gift Planning at 877-304-SHAW or legacygiving@bc.edu.

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