Qualified Charitable Distributions

Qualified Charitable Distribution from your IRA

Starting at age 70-1/2, you can make a qualified charitable distribution from your traditional IRA. This may reduce the taxable portion of your annual required minimum distribution.

To qualify:
  • You must be 70½ or older at the time of gift.
  • Distributions must be made directly from a traditional IRA account by your IRA administrator to Metro Blooms. Please contact your plan administrator to initiate the transfer.
  • No charitable deduction may be taken, but distributions may qualify for all or part of the IRA owner’s required minimum distributions.
  • Gifts from donor advised funds, 401(k), 403(b), and other retirement plans do not qualify.

More information

There are several ways to send a gift from a qualified retirement account depending on the practice of your financial institution. No matter how your distribution is sent to Metro Blooms, we need your name and address to properly thank you. 

If you are requesting that your IRA administrator send a check directly to Metro Blooms: Notify your plan administrator, preferably in writing, that the documentation accompanying the check needs to include your name and address.

If you have check-writing capability on your IRA account: Include your name and address in the note, so we can properly thank you.

If your IRA administrator is sending the check directly to you, the check must be payable to Metro Blooms. Make a copy of the check for yourself. Send the original check directly to Metro Blooms and include your name and address in a note.

Important for end-of-year giving

If your administrator provides you an IRA checkbook, please note that the date of your QCD is not the date you send the distribution check, but the date that your IRA administrator transfers the funds to the charity. If you want your distribution check to be credited toward the current tax year, it is critical that you mail your check several weeks before the end of the year to ensure there is time for the check to be received by common reporting standards (CRS) and to clear your account. This is especially true if you are relying on the gift to count towards your required minimum distribution.

Questions? We are here to help.

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