IRA withdrawals: Age 59½ and over
Although you can start making penalty-free withdrawals after age 59½, you can also choose to leave your money and let it have it have the potential to grow.
Need IRA help? Call 866-855-5635.
Traditional IRA rules
There are three things to consider for Traditional, Rollover, SEP, and SIMPLE IRA withdrawals:
Do you have an overall retirement plan in place? Learn how to turn savings into income and how to generate retirement income that can last.
You can withdraw money any time after age 59½, but you’ll need to pay income taxes on part or all of any IRA withdrawals you make.
StepSavings growth vs. emergencies
Need money for unexpected expenses? We suggest you consider all other options before making a withdrawal from a tax-advantaged IRA—so that your savings can continue.
At Schwab, we offer clients several withdrawal options including:
- Requesting a check online
- Writing your own checks via the IRA Check Writing feature (Schwab clients, login to access IRA Check Writing or learn more)
- Using Schwab MoneyLink
- Transferring RMD funds in-kind (i.e. no need to sell) to a non-retirement account (at Schwab or elsewhere)
- Coming into a Schwab branch directly
- Calling us to request a distribution verbally at 866-855-5635
- Submitting an IRA Distribution form
Roth IRA rules
If you're at least age 59½ and your Roth IRA has been open for at least five years, you can withdraw money tax- and penalty-free. See Roth IRA withdrawal rules.
With a Roth IRA, there are no required distributions as there are with a Traditional IRA.
Take the next step
Take the next step
Want to make a withdrawal? Schwab clients can go to Transfers & Payments in their online account, or call us at 866-855-5635 for help.
This tax information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends that you consult with a qualified tax advisor, CPA, financial planner, or investment manager. Depending on the type of account you have, there are different rules for withdrawals, penalties, and distributions. Please understand these before opening your account.
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