
It’s Permanent: Does Your Year-End Fundraising Drive Include IRA Owners Over Age 70.5?
By Laurence A. Pagnoni, MPA With the new tax reform law in place, the ability of your donors age 70.5 and older to donate the distribution from their Individual Retirement Accounts (IRAs) to charity has been made permanent. This is good news. Previously the provision was tenuous and had to be renewed every year. Let me explain. Required Minimum Distribution (RMD) The donor’s required minimum distribution is the minimum amount that he or she must withdraw from their account each year. The IRA holder generally must start taking withdrawals from their IRA, SEP IRA, SIMPLE IRA, or retirement plan account