Donate your annual required minimal distribution:
The IRS requires all citizens over 70.5* years of age to make annual withdrawals from their IRA or face a tax penalty. Fortunately, donating all or part of your annual required minimum distribution (RMD) from your IRA can help you avoid unnecessary taxes and penalties, while also helping Cal-IPC fund important programs and projects.
This option is a great way to plan a significant gift to Cal-IPC without the need for an attorney. Speak with your financial advisor to see if this is a good fit for your family and your philanthropic goals.
(Note that this is general information and is not presented as specific legal or tax advice. Please consult with your tax advisor or attorney on what options are right for you.)
Need more information? Contact Claire F. Meyler, Donor Relations Manager, at email@example.com or 510-843-3902 x310.
*Changes made by the SECURE Act: If a person’s 70th birthday is July 1, 2019 or later, they do no have to take required withdrawals until the age of 72.