Is there an administrative fee or penalty for withdrawing my money?

There is no administrative fee or penalty for withdrawing the money you put into your Roth IRA. That’s your money and you already paid taxes on it. The interest your money has earned is taxable and possibly subject to a 10% penalty if withdrawn before you are age 59½. For a Traditional IRA, withdrawals may also be subject to income tax and early withdrawal penalty. Please consult with a tax expert or financial advisor to determine what steps and restrictions may apply to you.