If you take money out of your ASA before you retire, you will pay a required 20 percent federal tax. If you are under age 59½, you may also have to pay a 10 percent tax penalty.
You will not pay federal taxes if you roll over money to an IRA or other qualified retirement plan.
How you choose to withdraw from your ASA can greatly affect your taxes. We urge you to talk to a tax advisor. Read more here.