Required minimum distributions
Receive a charitable deduction while complying with IRS distribution guidelines.
At age 70 ½, IRS regulations require individuals with qualified retirement accounts to begin taking minimum withdrawals from their account, which is also known as Required Minimum Distributions (RMD).
To avoid the risk of a higher tax bracket, you can also gift your Individual Retirement Account RMD to charity. You’ll benefit when you receive a charitable deduction while supporting God Said Go’s mission to children suffering from extreme poverty.
To donate all or a portion of your RMD:
1. Contact your retirement administrator, notifying them you would like to donate your RMD directly to GSG Missions.
2. Your administrator will disperse the funds directly to GSG. This direct disbursement avoids federal tax on the RMD.
3. GSG Missions’ formal address and Tax ID below will be required to complete this transaction.
GSG Missions Inc.
1908 NW Willow Drive
Grain Valley, MO 64029
Tax ID: 84-4307639
4. Provide your administrator’s name and where you would like the funds to be designated to GSG.
In addition to your RMD, you can gift a larger portion of your qualified retirement account to God Said Go. In 2016, Congress instated the IRA Charitable Rollover, which allows IRA account owners to gift up to $100,000 from their account to a qualified charity in a calendar year.
DISCLAIMER: This web page is designed to provide information and illustration of the subject matters covered. It 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).