At the Lenawee Community Foundation, we appreciate the important role attorneys, CPAs, and financial advisors play in helping clients age 70 ½ and older take advantage of Qualified Charitable Distributions (QCDs) from traditional IRAs. Your client can direct a QCD to a designated fund, field-of-interest fund, scholarship fund, or unrestricted fund at the Foundation, or even directly to support our overall mission and work.
Because QCDs are so useful, our team is keeping an eye on pending legislation that might expand the ways your clients can use them. Specifically, Congress continues to consider two bipartisan charitable giving bills: the Charity Parity Act (S. 2204/H.R. 4495), which would permit QCDs directly from employer-sponsored retirement plans, such as 401(k)s, in addition to traditional IRAs, and the IRA Charitable Rollover Facilitation and Enhancement Act (S. 3975), which would extend QCD eligibility to donor-advised funds. Neither proposal has advanced beyond committee, but both are still active and could expand charitable giving options for your clients if enacted.
We’ll continue to keep you informed as these proposals develop.