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IRA Qualified Charitable Distribution (QCD)
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How It Works
IRA Account
- Instruct your IRA custodian to distribute assets directly to Berkeley. Download this Sample Letter of Instruction that can be filled out and sent to your IRA custodian.
- Gifts should be made to University of California, Berkeley Foundation (TAX ID 94-6090626)
Please direct gifts to:
University of California, Berkeley Foundation Donor and Gift Services
1995 University Ave Ste 400
Berkeley, CA 94704-1070
TAX CODE REQUIREMENTS:
- You must be 70 ½ or older at time of distribution.
- QCD distributions cannot exceed $100,000 per year, per individual.
- Distribution must come directly from an IRA custodian.
- You cannot receive any goods or services in return for the gift.
How You Benefit
Flexibility
No Income Tax
- Your distribution is tax-free.
- You can satisfy all or part of your required minimum distribution.
- You can satisfy outstanding pledges with an IRA distribution.
NEW TAX LAW (SECURE ACT 2.0) EFFECTIVE JANUARY 1, 2023
IRA qualified charitable distributions (QCDs) of up to $50,000 may be used to create a charitable gift annuity or a charitable remainder trust (please click on the relevant link for further information). The election is available only once during an IRA owner’s lifetime. Donors are encouraged to consult with their advisors as there are additional limitations.
For more in-depth information, please call one of our experts at 510-642-6300.
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