Roth IRA Withdrawal Rules

What are the rules for withdrawals?

 

• Withdrawals are tax-free if you're age 59½ or older and you've held the account for at least 5 years.
• You're never required to make a withdrawal based on your age or other criteria. 

 

 

penalty for withdrawal:

If you make a withdrawal of earnings before age 59½, there's a 10% federal penalty tax unless an exception applies.
Withdrawals from your contributions are always penalty-free.

for details, please refer to:

www.schwab.com/public/schwab/investing/retirement_and_planning/understanding_iras/roth_ira/withdrawal_rules

and

retireplan.about.com/od/iras/a/roth_ira_withdrawal.htm