Generally, you are subject to the income tax and a penalty on the distribution unless an exception applies. What is the reason why you withdrew the funds?
Per IRS, the amounts an individual withdraws from an IRA or retirement plan before reaching age 59½ are called ”early” or ”premature” distributions. You would still pay taxes as an income but might not need to pay an additional 10% early withdrawal tax if an exception applies.
Please see Early Distribution Exception for information.
