Roth IRA withdrawal guidelines. Roth IRA withdrawal rules: When are withdrawals tax free?You can take tax- and penalty-free withdrawals once you are old enough and once you've owned the account long enough. Like a traditional IRA, you must wait until you are 59½ to withdraw your money, but there are exceptions to the early-withdrawal penalty. There is, however, a notable exception. Can I withdraw my money at any time from a Roth IRA? You can withdraw contributions (not earnings) at any time without penalty. Additional 10 percent early withdrawal tax on your lump-sum distribution. You're always eligible for tax and penaltyfree withdrawals on contributions, but you must meet certain Roth IRA rules for withdrawal to withdraw earnings. It should be noted that if you have multiple retirement plans, you must account for the RMDs of each.