Can You Withdraw Your Contributions From a Roth IRA Without a Penalty?

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Can You Withdraw Your Contributions From A Roth IRA Without A Penalty?

Yes, you can withdraw your contributions from a Roth IRA without a penalty. Roth IRAs offer this unique advantage. Since contributions are made with after-tax dollars, you can withdraw the amount you’ve contributed at any time, tax-free and penalty-free.

Withdrawing Contributions Roth Ira

How to Withdraw Contributions from a Roth IRA

  1. Verify Your Contribution Amount: Check your Roth IRA statements to determine how much you’ve contributed.
  2. Contact Your IRA Custodian: Reach out to the financial institution holding your Roth IRA to initiate a withdrawal.
  3. Request a Withdrawal: Specify that you’re withdrawing contributions only, not earnings, to avoid penalties.
  4. Complete Required Paperwork: Fill out any necessary forms or online requests to process the withdrawal.

When Can You Withdraw From a Roth IRA?

Contributions: Anytime, without tax or penalty. Earnings: Without taxes or penalties if:

  • You’re at least 59½ years old, and
  • The account has been open for at least five years.

Taking Money Out of a Roth IRA

Withdrawing contributions is straightforward. However, withdrawing earnings early could lead to taxes and a 10% penalty unless you qualify for an exception like first-time home purchase or certain medical expenses.

Can You Withdraw Your Contributions From A Roth Ira Without A Penalty

Roth IRA Contribution Withdrawal


  • Direct Contribution Withdrawals: Always penalty and tax-free.
  • Conversion or Rollover Withdrawals: May have a 5-year holding period.

How Annuities Guarantee Roth IRA Withdrawals for Lifetime

Annuities Inside a Roth IRA:

How it Works:

  1. Choose an Annuity: Select an annuity product within your Roth IRA.
  2. Funding: Use Roth IRA funds to purchase the annuity.
  3. Start of Payments: Decide when you’ll begin receiving payments, often at retirement.
  4. Lifetime Income: Receive regular payments for life, ensuring financial stability.


Understanding Roth IRA withdrawal rules and the role of annuities ensures financial flexibility and security in retirement. Withdrawing contributions from a Roth IRA is penalty-free, and annuities can provide guaranteed income for life. For more insights and personalized advice, contact us today for a free quote.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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