A Roth IRA is one of the most powerful ways to build tax-free income for retirement, but understanding the Roth IRA withdrawal rules is what keeps those benefits intact. The short answer: you can withdraw your contributions at any time without taxes or penalties, but you’ll owe taxes — and possibly a 10% early withdrawal penalty — if you take out earnings too soon. Roth IRA Earnings Withdrawals: When Taxes and Penalties Apply