IRA Transfers

IRA Transfers
If you are age 70 1/2 or older, you can transfer up to $100,000 each year directly from your traditional or ROTH Individual Retirement Account to Shrine of St. Jude. 

This smarter way to give may satisfy a portion or all of your annual required minimum distribution (RMD) and serve as a qualified charitable distribution for your IRA, which can save you on taxes even if you do not itemize! Contact your plan custodian to complete the IRA transfer. Call Joanne Pipkin at (301) 853-4486 if you need help. The Archdiocese of Washington’s tax identification number (EIN) is 53-0196550. Please specify to the Administrator that the gift will be for the benefit of Shrine of St. Jude. 
Important notes on IRA Transfers:

• This special way to give only applies to traditional or ROTH IRAs. Other retirement plans, such as the 401k, 403b and others do NOT qualify.
• While The SECURE Act did change the required minimum distribution (RMD) age to 72 for those under 70 ½ as of December 31, 2019, it DOES NOT change the age eligibility for making a qualified charitable distribution (QCD) through an IRA. For those who are between 70 ½ and not yet 72, the QCD amount simply would not offset this year’s RMD because none are owed yet.
• In 2021, IRA owners age 72 and older will resume their required minimum distribution (RMD) from IRAs. By exercising an IRA qualified charitable distribution (QCD), you may satisfy your RMD for the year and reduce reportable taxable income.
• If your plan administrator has provided you a checkbook for your IRA, please be sure that any check you write is delivered to the Shrine of St. Jude by November 15 to ensure the check is cashed before the end of the year.