The IRA Charitable Rollover Gift Annuity Plan

Are you interested in receiving income for life in return for a donation from your IRA? Under a new law effective in 2023, those over age 70 ½ can make a qualified charitable distribution in exchange for a charitable gift annuity.

A qualified charitable distribution (QCD)—sometimes called a “charitable rollover”—is a contribution from your IRA directly to the charity of your choice. Unlike other distributions from your retirement accounts, you pay no income tax on a traditional QCD. Although there is no charitable deduction for your QCD contribution, it counts toward your required minimum distribution.

The new Legacy IRA Act allows for a once-in-a-lifetime opportunity to donate up to $50,000 in one or