Submitted by firstname.lastname@example.org on Tue, 2007-08-07 16:10 Forums: IRA Discussion ForumCan you take a tax and penalty free withdrawal from your Roth Conversion account if you converted in 1998 (more than five years ago) but are under 59 1/2. I thought you could, as long as the withdrawal is less than the conversion amount. Kathy Permalink Submitted by alan-oniras@yah... on Tue, 2007-08-07 16:54 Yes, you can. Of course, all regular contributions would have to be distributed under the ordering rules before any conversions could be tapped, and all IRA accounts are considered combined under the ordering rules. If you never made any regular contributions, then the conversions would be tapped on a FIFO basis (oldest first), and all conversions done prior to 2003 could be distributed tax and penalty free. However, they still would be reported on Form 8606, Part III.