Great question came to me today.
An age 70.5+ supporter heard that he could have used the IRA charitable rollover to fulfill his RMD (required minimum distribution) requirement. Problem was that he already took his RMD withdrawal for 2011.
Any way to undo the RMD withdrawal and make an IRA charitable rollover gift instead?
Sadly, the answer seems to be no. I posted on this topic earlier (https://theplannedgivingblog.wordpress.com/2011/01/11/clarity-on-2010-irarmd-situations/) in the year and nothing has changed.
There are rules about IRA rollovers that do allow individuals to redeposit funds back into an IRA (generally within 60 days of the withdrawal) but they seem to explicitly exclude the RMD portions of their withdrawals.
The lesson here is that promoting the IRA charitable rollover option early in the year was very important. At this late juncture, it may be too late for donors to receive the full benefits of the law. A good lesson for future re-enactments of the law, should it get reinstated at some point in the future.