When it comes to your finances, you should have all the information you need. We’ve outlined everything you should know about withdrawing from a Traditional or Roth IRA.
Your tax situation is unique, so be sure to consult your tax advisor as well.
With Traditional IRAs, you defer taxes until you begin to withdraw money. The rules vary depending on your age.
A 10% early withdrawal penalty may apply for withdrawals taken prior to this age if no exceptions apply.
Starting at age 59½, you can begin taking money our of your retirement accounts without penalty.
A qualified distribution from a Roth IRA is tax-free and penalty-free, provided the five-year aging requirement has been satisfied and one of the following conditions is met:
Refer to IRS Publication 590 for details.
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As a local credit union, we measure our success one member at a time. We want to get to know you and help you achieve your goals. Come into a branch or call us today. Our people are happy to serve you.
(415) 674-4800
(888) 499-FIRE (3473)
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Sat 9:00AM - 5:00PM
Branch hours
Mon-Fri 9:30AM – 5:30PM
Saturday 10:00AM – 2:00PM
