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Jo Ellen Diehl Yeary | Generosity rooted in pride, remembrance, dedication to home

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News & Happenings

Charitable IRA Rollovers Made Permanent This Holiday Season


Nelsonville, OH – Thanks to action in Washington, there is now another way to give to what’s closest to your heart.

Congress recently passed and President Obama signed into law the PATH Act of 2015 which made the Charitable IRA Rollover permanent in the tax code.

A Charitable IRA Rollover allows individuals aged 70½ or older to make a Qualified Charitable Distribution of up to $100,000, tax-free, from a traditional IRA to a charity like the Foundation for Appalachian Ohio. A Qualified Charitable Distribution must be made directly from the IRA to a public charity (not a private foundation or donor-advised fund – the Foundation is a 501(c)(3) public charity, a regional community foundation) and made on or after the date which the IRA owner is aged 70½.

In addition to making a tax-free distribution, the donation can count against the minimum IRA distribution individuals are required to take for the calendar year. IRA owners who make a qualified charitable distribution in an amount equal to the minimum distribution are considered to have satisfied the requirement for the year, even though a charitable entity is the beneficiary of the distribution and not the IRA owner.

Because of Congressional action and the President’s signature, the Charitable IRA Rollover will not expire. However, the deadline to take advantage of the Charitable IRA Rollover this year is December 31, 2015.

FAO staff members are more than happy to answer any questions you may have about the Charitable IRA Rollover or other year-end gifts and can be reached at 740.753.1111. Please feel free to share this important update with others who may be interested.

We wish you and yours the happiest of holiday seasons and the most joyous of new years – this holiday season, we are most thankful for all of you.