Since withdrawals are taxable, any withdrawals are immediately subject to withholding tax. You’ll be tasxed, depending on the amount you withdraw. If you withdraw up to $5,000, the withholding tax rate is 10%; if you withdraw between $5,001 and $15,000, the withholding tax rate is 20%; and if you withdraw more than $15,000, the withholding tax rate rises to 30%.