Attention, 73+-Year-Olds 

Congratulations if you are turning 73 in 2026—or have already reached this milestone! 

At age 73, you must begin taking a Required Minimum Distribution (RMD) from your 401(k), 403(b), Traditional IRA, or Inherited IRA. Roth IRAs have no required distributions. Your RMD is calculated using your IRS-determined life expectancy and the value of your account on December 31 of the previous year. 

You may have received an IRS notice stating the amount of your 2026 RMD, based on your account value as of December 31, 2025. 

Would you like to support a charity while reducing the taxable amount of your required minimum distribution? 

Consider making your donation directly from your IRA to an eligible charity through a Qualified Charitable Distribution (QCD). The amount donated through a qualifying QCD is excluded from your taxable income, meaning a smaller portion of your RMD is taxable. This means you could pay less in taxes while supporting a charity you care about. 

How to make a QCD?  Contact the financial institution that manages your IRA and ask how to make a Qualified Charitable Distribution (QCD). You’ll generally need to provide: 

  • The charity’s full legal name
  • The charity’s mailing address
  • The charity’s Employer Identification Number (EIN), or federal tax ID
  • The amount you wish to donate

Your IRA custodian may also ask for the charity’s phone number or other information. Contact the charity directly if you need its details. Be sure to instruct your custodian to send the funds directly to the charity. Plan ahead, as your IRA custodian may need several weeks to process the transfer. 

Note that you can begin making QCDs as early as age 70½, even before you are required to take RMDs. Discuss any financial decisions with your financial advisor or tax accountant.  

Poolesville Area Senior Center, Inc., DBA Poolesville Seniors, is a 501(c)(3) nonprofit organization (EIN 81-2272507) eligible to receive Qualified Charitable Distributions (QCDs). Learn more at Qualified Charitable Distribution Donations – Poolesville Seniors.