What is the Tax Treatment for ROTH Distributions made from earlier Conversions?
The IRS imposes a 10% penalty tax to "the extent allocable to a conversion contribution, if the distribution is made within the 5 year period beginning with the first day of the individual’s taxable year in which the conversion contribution was made."
The exceptions under IRC Sec. 72(t) would also apply to such a distribution for situations such as death or where the taxpayer has reached Age 59½.
It is worth noting that the "five-taxable-year period is separately determined for each conversion contribution and is not the same as the five-taxable-year period used to determine qualified distributions."