IRA Charitable Rollover

If you are 70 ½  years of age or older and have a traditional Individual Retirement Account (IRA), you can make an immediate impact at Notre Dame through an IRA Charitable Rollover Gift. An IRA Charitable Rollover Gift allows you to make a gift to Notre Dame, satisfy part or all of your annual required minimum distribution from your IRA, and exclude part or all of that distribution from your taxable gross income, thereby reducing your tax liability.

For your gift to qualify:

  • You must be 70 ½ years of age or older at the time of your gift.
  • The transfer must be made from your IRA directly to Notre Dame.
  • Your total annual IRA Charitable Rollover gift(s) cannot exceed $100,000 in the calendar year of the gift.
  • Your gift must be made to Notre Dame by December 31 in the year you decide to make the gift.
  • Your gift must be outright. Gifts from your IRA to donor-advised funds or life-income vehicles such as charitable gift annuities or charitable remainder trusts do not qualify as IRA Charitable Rollover gifts

An IRA Charitable Rollover Gift May Benefit You:

  • As an easy and convenient way to make a tax-free gift from one of your major financial assets. You may also consider renewing or increasing your annual gift with your IRA Charitable Rollover;
  • As an exclusion from your gross income; and
  • By counting toward your required minimum distribution.

Making Your Gift is Easy:

Before December 31 of this year:

  • Contact your IRA custodian.
    • Ask that your distribution be a charitable rollover to Notre Dame.
    • Ask them to include the following in the transfer:*
      • Your name
      • Your address

Make Notre Dame a Beneficiary of Your IRA

You may also consider making a charitable bequest of part or all of your retirement account to Notre Dame. A retirement account bequest is one of the most tax-efficient ways to fund a charitable gift from your estate. By making Notre Dame the beneficiary of your retirement account, you may reduce or eliminate federal estate and income taxes related to your retirement account at your passing.

When the owner of a retirement account passes away and leaves the retirement account to family members, estate and income taxes on the retirement account may total 60% or more of the retirement account assets. You receive a charitable estate tax deduction upon your death when you designate your retirement account to Notre Dame. In addition, your estate and your heirs will not report any taxable income related to the retirement account distributed to Notre Dame upon your death. Notre Dame receives the retirement account assets designated to the University, Notre Dame is not subject to either estate or income taxes, and the entire amount the University receives can be applied to an area of impact that you designate during your life.

Making Notre Dame a beneficiary of your retirement account will also qualify you to become a member of the Stephen Theodore Badin Guild, established to honor all those who make Notre Dame a part of their personal legacy by creating a planned gift. To learn more about becoming a member of the Badin Guild and Badin Guild member experiences, please contact us at pgiving@nd.edu or 574-631-7164.

Additional Year-End Tax Savings Strategies

In addition to a gift through your IRA Charitable Rollover distribution, please also consider the following year-end tax-saving strategies for your philanthropic giving, including:

  • Gifts of Cash
  • Gifts of Securities
  • Gifts that Produce Income
  • Matching Gifts from Your Employer

Contact us today at 574-631-7164 or pgiving@nd.edu.

*To ensure that we can promptly and accurately credit your gift to you and allocate it according to your wishes, transfers from your financial institution need to include your name and address.

The University of Notre Dame is an educational institution and does not provide tax, legal, or financial advice. Any document or information shared by our staff is intended to be educational. Notre Dame strongly encourages all of our benefactors to seek counsel from their own legal and financial advisors. Please know that any information or documents shared by Notre Dame cannot be used to avoid tax-related penalties.

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