Which of the following statements is not correct with respect to Roth IRAs?

a. The maximum annual contribution is $6,000 for people under age 50. b. For withdrawals of earnings to be tax-free, there is a five-year waiting period. c. After the required waiting period, all withdrawals are tax-free. d. A 10% early withdrawal penalty applies to all amounts withdrawn during the first five years. e. Both c. and d.