Click below to see the differences between processing a QCD and a regular check.

Qualified Charitable Distributions - How to process a QCD

Reason for Distrubution
Dollar limits
Payee/address differences
The client’s (donor) name appearing on the check

$30,000 per account, per day limit

Phone associates can process third-party checks, including checks from mutual fund only accounts, up to $30,000 per account, per day to an alternate address, alternate payee, or both. All other requests require a signature guaranteed written authorization.

For amounts over $3,000, the donor's name will automatically be added to the check stub.

Reason for Distribution* = Normal Distribution

QCDs are reported by Fidelity as normal distributions on form 1099-R. QCDs from Inherited IRAs are reported on the 1099-R as a death distribution. If the client has questions about how to report these distributions when filing a tax return, refer him or her to a tax advisor.

Name Line 1* is the Charity's Name

This will be the payee's (charity’s) name.

Address Line 1* is the address the check will be mailed to.

It can go directly to the charity or be sent to the client.

Check Memo

For checks over $3k, the donor’s name is added automatically. If it is for under this, ask the client if they want their name on the check and then notate in the check name.