In general, you cannot borrow money from an IRA. If an investor wants to access funds in an IRA, a withdrawal may be possible without incurring an additional 10% tax in certain instances, including: For a qualified first-time homebuyer distribution (up to $10,000; in line with federal tax laws) For qualified higher education expenses (in line with federal tax laws) If you become permanently disabled (in line with federal tax laws) For the birth or adoption of a child (up to $5,000; in line with federal tax laws)