If I am over 70 and had Roth IRA for over 5 years, can I withdraw fund and ten return it back to my Roth account? If yes is there a time limit?
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You’re probably thinking about a loan from your Roth IRA, which can trigger penalties if you don’t pay the money back within 60 days. But since you’re past the retirement age, you can take out money whenever you’d like, without restriction. Returning the money, however, is another issue. You would essentially be making a Roth contribution when you put the money back in. In 2012, that limit is $6,000, and you have to meet the standard Roth eligibility requirements. Basically, if you need the money, take it out. If all else fails, you can put the money back in a taxable account.