THE GIFT OF EDUCATION LASTS A LIFETIME
University of Illinois Foundation Office of Gift Planning & Trust Services 1305 West Green Street, Room 214 Urbana, IL 61801-2962
NON PROFIT ORG US POSTAGE PAID PERMIT #75 CHAMPAIGN, IL
Make a TAX-FREE Gift from your IRA! Legislation passed in December reinstated Required Minimum Distributions (RMDs) from Individual Retirement Accounts (IRAs). You can reduce your tax burden by transferring all or part of your RMD, up to $100,000 per year, to a nonprofit like the University of Illinois Foundation to benefit the University of Illinois Chicago. Why not make 2021 the year you stop paying taxes on IRA distributions you don’t need and support areas you value at UIC instead? Please contact us with questions. Meg Cline, CFA, CFP® Vice President for Gift Planning and Trust Services University of Illinois Foundation p 217.244.0800 e GPInfo@uif.uillinois.edu Learn more about all of our gift planning options at uif.giftplans.org.
1305 W. Green Street, Urbana, IL 61801 | GPinfo@uif.uillinois.edu | 217.244.0473
Required Minimum Distributions must be taken by: • Individuals age 72 or older per passage of the 2019 SECURE ACT, or • Individuals who turned 70½ before 2020
Qualified Charitable Distributions (QCDs) from your IRA are: • An easy way to make a gift from one of your major assets. • Not included in your taxable income—a tax free distribution. • Counted toward your RMD. • Available to individuals age 70½ or older at the time of your gift. • Required to go directly from your IRA to the University of Illinois Foundation (Tax ID 37-6006007). • Not to exceed $100,000 annually per taxpayer.
This material is provided for general information and educational purposes, please consult with your tax and financial advisors regarding your personal situation.