Terms of Use    

Yes, you can access your Traditional IRA at any time, but withdrawals before age 59½ are generally subject to ordinary income tax plus a 10% early withdrawal penalty.

For 2026, the 10% penalty is waived for several specific situations, including several new "Emergency" categories:

  • Emergency Expenses: One withdrawal per year up to $1,000 for immediate personal or family emergencies.
     
  • Domestic Abuse: Up to $10,000 (or 50% of the account) for victims of domestic abuse.
     
  • Terminal Illness: Penalty-free access for those with a certified terminal condition.
     
  • Higher Education: Tuition, fees, books, and supplies for you, your spouse, children, or grandchildren.
     
  • First-Time Home: Up to a $10,000 lifetime maximum toward the purchase of a primary residence.
     
  • Medical & Health: Unreimbursed medical expenses exceeding 7.5% of your AGI or health insurance premiums while unemployed.
     
  • Periodic Payments: Also known as SEPP or Rule 72(t), allowing for a schedule of equal payments over your life expectancy.

Note: While the penalty is waived for these items, you will still owe ordinary income tax on the amount withdrawn (unless it is from a non-deductible contribution "basis").