Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can a person begin to receive the accumulated amount in an IRA account before reaching sixty (60) years of age?

April 26, 2017account accumulated age IRA person REACHING

0

10 Posted

Can a person begin to receive the accumulated amount in an IRA account before reaching sixty (60) years of age?

1 Answer

0

10 Posted

A person may receive a disbursement from an IRA account at any moment. However, if done before reaching sixty (60) years of age, as a general rule, that person is subject to a 10% penalty imposed by the tax code.