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A
AnmarieA
Level 5
January 15, 2021
Question

With an inherited Roth IRA do you have a year waiting period to withdraw from the account?

  • January 15, 2021
  • 1 reply
  • 14 views
5 year waiting period apply to avoid an early withdrawal penalty?
This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
January 16, 2021

Yes, but the penalty only applies to the earnings.

The more I know the more I don’t know.
    A
    AnmarieAAuthor
    Level 5
    January 20, 2021

    The 5 year is based on from the date the Roth Account was "originally opened" as if you rollover a traditional IRA into an existing Roth account their should be no penalty if the Roth account from inception was held for at least 5 years correct?

    sjrcpa
    sjrcpa
    Level 15
    January 20, 2021

    Correct.

    The more I know the more I don’t know.
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