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Are there withdrawal limitations on IRA CDs? Yes. You may not make withdrawals of principal from your account before maturity unless you pay a penalty for early withdrawal or unless a waiver of the penalty for early withdrawal from an IRA or other tax-qualified plan applies.  You can withdraw interest accrued in the term before it has been compounded and added back into the principal.  Otherwise, you must pay a penalty for early withdrawal (unless a waiver of the penalty for early withdrawal from an IRA or other tax-qualified plan applies).