Ken
Colorado,#2Consumer Comment
Sun, January 13, 2013
I have $240,000 in my IRA and am charged a $40 annual fee...go figure.
BTW, what good is an IRA of less than $2,000?
Yes, if not 59-1/2 when you withdrew you would pay regular tax plus the penalty..but you CAN roll the money over into another account instead..no penalty.
You are liable, now, for regular income tax on the amount.