No penalty unless you are under 591/2. But there are taxes. You can take a withdrawal anytime for anything. It’s just when you turn 73 you have to start taking the RMD Required Minimum Distribution each year. You can take more. The IRA should send you a letter each year telling you how much you have to take out for the RMD.
The first year RMD you can wait to take it until April 1 of the next year. But that means you would have to take 2 RMDs that year.
