IRA and 401K Giving

The IRA Charitable Rollover is permanent law. If you are age 70-½ or older you can transfer up to $100,000 annually from your IRA or 401K accounts directly to charity without recognizing the distribution as income.

You will not have to pay income taxes on the money donated.

WELS Lutherans for Life is a qualified charity able to accept IRA rollover gifts.

Here is a quick recap of the IRA charitable rollover rules. Gifts qualify under the law if:

1. The donor is age 70½ or older on the day of the gift.
2. The donor transferred up to $100,000 directly from the donor's IRA to one or more qualified charities. This opportunity applies only to IRAs and not other types of retirement plans.
3. The donor does not receive any goods or services in return for the rollover gift in order to qualify for tax-free treatment.

Please share this information with your relatives and friends who are 70 1/2 and want to take advantage of this opportunity. See Stocks-Bonds-Securities to see how WLFL can accept an IRA Rollover. These gifts will help WLFL carry on our vital mission.

If you are interested in considering a gift of this nature, please contact us at 414-727-8176 or on our contact us page. 

Note: Be sure to consult with your financial advisers and tax professionals before initiating such a rollover.