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How to use or fill out the Tsp 70 Fillable online
Filling out the TSP-70 form for a full withdrawal from your Thrift Savings Plan account is a straightforward process. This guide will walk you through each step, ensuring you complete the form accurately and efficiently.
Follow the steps to complete the TSP-70 form online.
- Press the ‘Get Form’ button to access the TSP-70 Fillable form, opening it in your preferred online editor.
- Section I requires you to fill in your personal details including your name, TSP account number, date of birth, and current address. Ensure the accuracy of the information, especially your TSP account number, to avoid any processing delays.
- Indicate whether you are married by selecting 'Yes' or 'No.' If married, provide your spouse's name and address, and include their Social Security number if applicable. This information is vital for fulfilling spousal requirements in later sections.
- If your account balance exceeds $3,500, proceed to complete Sections II and III pertaining to spousal rights. This requires either notifying your spouse or obtaining a waiver. Follow the specific instructions provided to ensure compliance with the law.
- In Section IV, define your withdrawal method by selecting one or more options (single payment, monthly payments, or life annuity). Make sure the percentages you list total 100% and comply with the minimum withdrawal requirements.
- If opting for transfers from your withdrawal to an IRA or other plans, complete Section V with the necessary account information, ensuring you explain the type of account and provide account numbers as needed.
- In Section VII, if you wish to receive payments via direct deposit, fill in your financial institution information, routing number, and account number.
- Review the certification in Section VIII and provide your signature, certifying that all the information given is accurate, and submit your TSP-70 form for processing.
- Once completed, proofread your form for any inaccuracies and save your changes. You may now download, print, or share your finished document as necessary.
Complete your TSP-70 Fillable form online today to manage your TSP account effectively.
Employees can contribute up to $19,500 to their TSP plan for 2020, $500 more than 2019. Employees of age 50 or over are eligible for an additional catch-up contribution of $6,500 in 2020, $500 higher than 2019.
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