Traditional IRA owners 70½ or older may request an IRA distribution direct to a "qualified charity". This is known as a Qualified Charitable Distribution (QCD). The amount is limited to the lesser of your Required Minimum Distribution (RMD) for the year or USD 111,000.
Financial Advisors can request a QCD on behalf of their clients directly through the Client Portal. This is the fastest and most straightforward method, and is available for most QCD requests.
How to Request a Qualified Charitable Donation:
- Log in to Client Portal
- Click the Transfer & Pay menu followed by Transfer Funds
- Select Charitable Donation
- Enter your Donation Amount
- Select a Charity
- Review Donation
- Confirm Donation
This process can be completed by the Financial Advisor on behalf of the client, or by the client themselves, depending on account permissions.
If a QCD request cannot be completed through the Client Portal (for example, due to account restrictions or authorization limitations), Financial Advisors may alternatively submit a paper QCD request form. However, the Client Portal is the recommended method for most requests due to faster processing times.
For full details on eligibility requirements, authorization levels, and step-by-step guidance for Financial Advisors submitting QCDs on behalf of clients, please refer to: Qualified Charitable Distributions: A Guide for Financial Advisors.
Additional Information
- Eligibility, tax reporting and the withdrawal processing available in our Knowledge Base.
- IRA: Charitable donations from IRA's