IRA Gifts

No. You must be 70½ by the date you make the gift.

Yes. Direct gifts to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, thrift savings plan (TSP), 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to NYU Langone Hospitals or NYU Grossman School of Medicine. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

According to the SECURE Act (2019) and SECURE 2.0 Act (2022), birth year determines when the IRS makes you start taking RMDs:

• Born 1950 or earlier → RMDs started at age 72
• Born 1951–1959 → RMDs start at age 73
• Born 1960 or later → RMDs start at age 75

No. You can give any amount under this provision, as long as it is no more than $111,000 this year. If your IRA is valued at more than $111,000, you can transfer a portion of it to fund a charitable gift.

We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing features on your IRA, please be aware that your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.

No. Under the law, you can give a maximum of $111,000 this year. For example, you can give each organization $55,000 this year or any other combination that totals $111,000 or less. Any amount of more than $111,000 in one year must be reported as taxable income.

If you have a spouse (as defined by the IRS) who is 70½ or older, they can also give any amount up to $111,000 from their IRA.

Yes! If you are 70½ or older, you may now make a one-time election for a qualified charitable distribution of up to $55,000 (without being taxed) from your IRA to fund a life-income gift. Some limitations apply, so contact us for more details and a personalized illustration at no obligation.

By making a gift this year of any amount up to $111,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $111,000 or less for the year.