Specific Guidelines for Your IRA Rollover Gift

1. To qualify for this IRA rollover opportunity, you must be at least 70½ years old before directing the distribution to Gospel for Asia.



2. IRA rollovers to charities like GFA are limited to $100,000 per individual taxpayer per year. A husband and wife could each give up to $100,000 per year from two separate IRA accounts.



3. The charitable rollover provision applies to distributions made to GFA or other qualifying charities through December 31, 2009.



4. To benefit from the tax advantages, the distribution must be made directly from your IRA account to GFA. Do not withdraw the funds from your IRA account and then donate them to GFA.



5. A direct transfer from your IRA acount will prevent the amount transferred from being added to your taxable income for the year. In some cases this may put you in a lower bracket, which could mean signifacant savings.



6. To qualify, the distributions must be made directly to GFA. Contributions to a donor- advised fund or to a supporting organization for the benefit of GFA are not eligible.



7. IRA distributions to fund split-interest gifts, such as charitable gift annuities or charitable remainder trusts, are not eligible.



8. You may not receive any benefit or value from GFA as a result of your IRA charitable rollover. Doing so would disqualify the gift from the special IRA charitable rollover tax advantages.



9. If you make an IRA distribution to Gospel for Asia, please let us know. Since the transfers will come directly from an IRA administrator, this communication will be necessary to ensure that we know the donation came from you and apply the gift to the ministry area you choose.



10. This charitable rollover opportunity applies exclusively to traditional IRAs and Roth IRAs. Other retirement plans such as 401(k)s, Keoghs, SEP-IRAs, etc., are not eligible. Under federal tax rules, these plans generally may be rolled directly over to an IRA. Although the RMD will need to be taken before such a plan rollover is done, a charitable distribution from the new IRA account can still be made that year. In the following year, a charitable rollover from the IRA account will qualify as part or all of the RMD.

This information is not intended, nor should it be used, as legal, accounting or other professional advice. It is always a good idea to seek legal and tax advice from your professional advisor(s).