There are certain limitations with respect to the IRA Charitable Rollover:
- This gift opportunity only applies to certain types of IRAs, typically traditional or Roth.
- Other retirement plans, such as 401(k) and 403(b) accounts cannot be used. However, it may be possible to make a tax-free transfer from such other accounts to an IRA, from which a charitable rollover can then be made.
- Rollover gifts cannot be used to fund a charitable gift annuity or charitable remainder trust (because the donor can receive no benefits in exchange for the gift).
If you are considering this gift type, it is important to consult with your professional advisors to ensure that your transfer qualifies.