But there are a variety of ways to avoid the IRA early withdrawal penalty if you meet specific criteria: Turn age 59 1/2. Once you turn age 59 1/2, you can withdraw any amount from your IRA without having to pay the 10 percent penalty.But regular income tax will still be due on each withdrawal. IRA distributions are not required until after age 70 1/2. More. If you withdraw money from your individual retirement account before age 59 1/2, you will generally have to pay a 10 percent early withdrawal penalty in addition to income tax on the amount withdrawn.