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Get Form Tsp-u-70, Request For Full Withdrawal. Form Tsp-u-70, Request For Full Withdrawal
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How to fill out the Form TSP-U-70, Request For Full Withdrawal online
Filling out the Form TSP-U-70, Request For Full Withdrawal, is a crucial step for participants looking to withdraw their retirement savings fully. This guide provides clear instructions to help you complete the form accurately and efficiently in an online format.
Follow the steps to complete the TSP-U-70 form online
- Press the 'Get Form' button to retrieve the TSP-U-70 form and open it for editing.
- In Section I, provide your personal information, including your name, TSP account number, and date of birth. Select whether you are withdrawing from a civilian or uniformed services account.
- If you are married and your total TSP balance exceeds $3,500, complete either Section II (FERS and Uniformed Services) or Section III (CSRS) as applicable. Ensure to include your spouse's information if required.
- In Section IV, indicate your withdrawal choice: either a single payment, life annuity, or TSP monthly payments. Specify the percentage you'd like to withdraw through each method, ensuring they add up to 100%.
- Complete Section V if you would like to receive your payment via direct deposit, providing your banking details.
- In Section VI, certify the accuracy of your information and ensure your signature is notarized.
- Proceed to Sections VII to XII if applicable, to select tax withholding options or make annuity elections. Fill out any relevant additional pages and ensure all necessary signatures and information are provided.
- Review all sections for completeness and accuracy. Finally, save your changes, download the form, print it, or share it as needed.
Complete your Form TSP-U-70 online today to ensure a smooth withdrawal process.
If you meet these tests, you're home free; you will pay no taxes on withdrawals from your Roth TSP balance. However, if you have a Roth TSP balance and withdraw any TSP funds before reaching the age of 59 ½, you will have to pay federal income tax on the earnings in the Roth account.
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