When will I be eligible for distributions from my IRA? December 02, 2020 19:22 Updated At the age of 59 1/2, the beneficiary of an IRA may begin receiving penalty-free distributions from their account. Related articles Who is eligible for a Traditional IRA? Can I keep my purchased metals at home? What fees are involved with an HAA precious metals IRA? What are the rules and rates for Sales Tax in the U.S.? Do I have to transfer/rollover the entire amount?