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When can I withdraw money from a SIMPLE Roth IRA?

Roth SIMPLE IRA withdrawals follow Roth IRA distribution rules along with certain SIMPLE IRA restrictions. Roth contributions can generally be withdrawn tax-free since taxes were already paid.

Earnings are tax-free only if the distribution is qualified, which typically requires meeting the Roth holding period and reaching age 59½ or another qualifying event.

If withdrawals occur within the first two years of participation, SIMPLE IRA rules may impose a higher early distribution penalty on the taxable portion.