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Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Hello, I would like to add to this thread to get your thoughts on this as I saw your response John is to call the financial institution. I recently received two different looking check gifts from Charles Schwab written out to our University with the donor in the memo. One said distribution and the donor has given the same check before with us noting from a QCD with an IRA with Charles Schwab; however the other check also from Charles Schwab did not say distribution and looked different. I called Charles Schwab and they informed me I had to call the donor to confirm if it was a QCD; which the donor did confirm. Interesting!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Hello, I would like to add to this thread to get your thoughts on this as I saw your response John is to call the financial institution. I recently received two different looking check gifts from Charles Schwab written out to our University with the donor in the memo. One said distribution and the donor has given the same check before with us noting from a QCD with an IRA with Charles Schwab; however the other check also from Charles Schwab did not say distribution and looked different. I called Charles Schwab and they informed me I had to call the donor to confirm if it was a QCD; which the donor did confirm. Interesting!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Hello, I would like to add to this thread to get your thoughts on this as I saw your response John is to call the financial institution. I recently received two different looking check gifts from Charles Schwab written out to our University with the donor in the memo. One said distribution and the donor has given the same check before with us noting from a QCD with an IRA with Charles Schwab; however the other check also from Charles Schwab did not say distribution and looked different. I called Charles Schwab and they informed me I had to call the donor to confirm if it was a QCD; which the donor did confirm. Interesting!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Thank you!

Hello, I would like to add to this thread to get your thoughts on this as I saw your response John is to call the financial institution. I recently received two different looking check gifts from Charles Schwab written out to our University with the donor in the memo. One said distribution and the donor has given the same check before with us noting from a QCD with an IRA with Charles Schwab; however the other check also from Charles Schwab did not say distribution and looked different. I called Charles Schwab and they informed me I had to call the donor to confirm if it was a QCD; which the donor did confirm. Interesting!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Hi everyone,

Adding another layer.  I recieved two checks from Fidelity Brokerage Services LLC today.  Check #1 clearly noted it was an IRA QCD.  Check #2 just noted "Retirement Districtuion Check" and "FMT CO CUST IRA".  Taking the advice previously discussed in this thread, I called Fidelity Brokerage Services LLC to inquire if it was indeed an IRA QCD.  Fidelity Brokerage was not able to provide me any more information.  They said I would need to either ask them to get the donor on the call and have the donor confirm or call the donor directly. 

I suggested to Fidelity that this be a standard line to include in the checks when sent instead of leaving it to the discretion or memory of the banker to include.

What's the best course of action here for receipting this donor?  Should I simply acknowledge the gift with date received and amount?  Fidelity said the burden was on the donor to acquire the proper tax documentations from Fidelity.  

Thanks!

Thank you!

Hello, I would like to add to this thread to get your thoughts on this as I saw your response John is to call the financial institution. I recently received two different looking check gifts from Charles Schwab written out to our University with the donor in the memo. One said distribution and the donor has given the same check before with us noting from a QCD with an IRA with Charles Schwab; however the other check also from Charles Schwab did not say distribution and looked different. I called Charles Schwab and they informed me I had to call the donor to confirm if it was a QCD; which the donor did confirm. Interesting!

Interesting. So then if the donor reaches out to say it's an IRA/QCD, believe them?

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!

In an attempt to simplify and reduce the amount of time spent on the QCD/RMD conundrum, we are adding this language to our acknowledgement letters for IRA gifts.

This letter serves as a contemporaneous acknowledgement of your gift. No goods or services were provided in exchange for this gift to the hospital, a qualified public charity under IRC §170(b)(1)(A). This gift was not transferred to a donor-advised fund or a supporting organization. Please consult your tax advisor or IRA custodian to determine if your gift meets the requirements of a qualified charitable distribution (QCD) under IRC §408(d)(8).

Good morning everyone! I continue to run into a situation with a donor where she says she donated from her IRA/QCD and received an incorrect acknowledgement letter. However, the check body and stub does not explicitly indicate IRA or Qualified Charitable Donation, and many of them do. For years, if a check says "Retirement distribution check," we have not marked it as an IRA or QCD, and these donors have not asked for a revised thank you otherwise. This donor's check says "Normal Ret Plan Dist," but she's saying it's a QCD. Does "retirement plan distribution" always indicate IRA/QCD? Thank you for your guidance!