irs terms of withdrawal for ira
If you're 59Â½ or older, you're allowed to withdraw from your IRA without penalty. The IRS does not require you to withdraw from a Traditional or Rollover IRA until you reach the age of 70Â½. However, depending on your account type (Traditional or Roth), you may be taxed on your withdrawal. To avoid unnecessary penalties or taxes, find out what specific withdrawal rules apply to you.