FundSvcs Community

Many firms are allowing donors to write their own IRA checks. Assuming the check is drawn on a known financial institution that houses IRAs, I'd issue a standard receipt indicating "IRA Rollover per Donor" somewhere on the receipt. If it seems as though the check is coming from a personal account, I'd probably want to have a quick chat with the donor just to make sure. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Mon, Apr 1, 2019 at 1:23 PM Karen Warr <Karen.Warr@lifeworksnw.org> wrote: > We’ve just received what looks like a personal check, but it says “IRA > Rollover” at the top and “No Federal or State Taxes Withheld” above the > signature line. I’ve never seen one like this before – do I just process > it like a regular donation and issue a typical receipt? > > > > Karen Warr, MPA, GPC > > Grants and Database Coordinator > > LifeWorks NW > > 503-645-3581, x2385 > > Pronouns: She/Her/Hers > > > CONFIDENTIALITY NOTICE: The information contained in this communication is > confidential and is only for use by the intended recipient. If the reader > of this communication is not the intended recipient (or the agent or > employee responsible to deliver it to the intended recipient), you are > hereby notified that any dissemination, distribution or reproduction of > this communication is strictly prohibited. If you have received this > communication in error, please immediately notify the sender by e-mail and > delete this communication from your system. Thank you >

We've just received what looks like a personal check, but it says "IRA Rollover" at the top and "No Federal or State Taxes Withheld" above the signature line. I've never seen one like this before - do I just process it like a regular donation and issue a typical receipt? Karen Warr, MPA, GPC Grants and Database Coordinator LifeWorks NW 503-645-3581, x2385 Pronouns: She/Her/Hers CONFIDENTIALITY NOTICE: The information contained in this communication is confidential and is only for use by the intended recipient. If the reader of this communication is not the intended recipient (or the agent or employee responsible to deliver it to the intended recipient), you are hereby notified that any dissemination, distribution or reproduction of this communication is strictly prohibited. If you have received this communication in error, please immediately notify the sender by e-mail and delete this communication from your system. Thank you

Thanks John. It does say Charles Schwab on the check next to the bank info. Karen Warr, MPA, GPC Grants and Database Coordinator LifeWorks NW 503-645-3581, x2385 Pronouns: She/Her/Hers From: Advancement Services Discussion List [mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG] On Behalf Of John Taylor Sent: Monday, April 1, 2019 10:28 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] IRA Rollover check Many firms are allowing donors to write their own IRA checks. Assuming the check is drawn on a known financial institution that houses IRAs, I'd issue a standard receipt indicating "IRA Rollover per Donor" somewhere on the receipt. If it seems as though the check is coming from a personal account, I'd probably want to have a quick chat with the donor just to make sure. John John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Mon, Apr 1, 2019 at 1:23 PM Karen Warr <Karen.Warr@lifeworksnw.org<mailto:Karen.Warr@lifeworksnw.org>> wrote: We’ve just received what looks like a personal check, but it says “IRA Rollover” at the top and “No Federal or State Taxes Withheld” above the signature line. I’ve never seen one like this before – do I just process it like a regular donation and issue a typical receipt? Karen Warr, MPA, GPC Grants and Database Coordinator LifeWorks NW 503-645-3581, x2385 Pronouns: She/Her/Hers CONFIDENTIALITY NOTICE: The information contained in this communication is confidential and is only for use by the intended recipient. If the reader of this communication is not the intended recipient (or the agent or employee responsible to deliver it to the intended recipient), you are hereby notified that any dissemination, distribution or reproduction of this communication is strictly prohibited. If you have received this communication in error, please immediately notify the sender by e-mail and delete this communication from your system. Thank you CONFIDENTIALITY NOTICE: The information contained in this communication is confidential and is only for use by the intended recipient. If the reader of this communication is not the intended recipient (or the agent or employee responsible to deliver it to the intended recipient), you are hereby notified that any dissemination, distribution or reproduction of this communication is strictly prohibited. If you have received this communication in error, please immediately notify the sender by e-mail and delete this communication from your system. Thank you