Iraq Withdrawal Accountability Act of 2011 - Declares that it is the policy of the United States to withdraw all U.S. Armed Forces and military contractors from Iraq by December 31, 2011.
Prohibits any agreement between the United States and Iraq amending the timeline for such withdrawal in a manner obligating the United States to a security commitment to respond to internal or external threats against Iraq after such date from being in force with respect to the United States unless the agreement is in the form of a treaty requiring advice and consent of the Senate (or is intended to take that form in the case of an agreement under negotiation) or is specifically authorized by an Act of Congress enacted after enactment of this Act.
Prohibits, except for protection of the U.S. Embassy in Baghdad, Iraq, the use of funds to: (1) maintain U.S. Armed Forces or military contractors in Iraq after December 31, 2011; and (2) establish any military installation or base for the permanent stationing of such forces in Iraq.
Prohibits the use of funds to exercise U.S. control over any oil resource of Iraq.