Tax-free IRA Transfer

Take advantage of the Pension Protection Act — a new way to support Catholic Charities of the Archdiocese of Newark through a tax-free IRA transfer.

The Pension Protection Act of 2006 encourages the financial support of charitable organizations. Under this new law, for the very first time you are allowed to make a transfer from a traditional IRA or a Roth IRA to a qualified charity without any tax effects.*

You may exclude from income a gift of up to $100,000 from your IRA. With this type of gift, you also satisfy the annual minimum required distribution.

If each spouse is eligible, a married couple may be able to take a combined distribution of $200,000 (no more than $100,000 from each IRA owner) and receive the appropriate tax-free treatment.

To qualify for the benefits under the Pension Protection Act:

• The donor must be 70 ½ years of age or older on the date of the transfer.



• The donor must transfer the funds directly from the IRA to Catholic Charities or another qualified charity (trustee to charity transfer).



• Gifts cannot exceed $100,000 per taxpayer.



• Gifts must be outright. Transfers to donor-advised funds, private foundations or supporting organizations, charitable remainder trusts, and charitable gift annuities do not qualify.

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Catholic Charities
touches more than
80,000 lives annually.