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He instructions on the back to assist you in completing this form. Type or print the information requested. Do not alter this form or the information you enter; if you need to make a correction or change your entries, start over on a new form. If you have a uniformed services TSP account, you will need to make a separate TSP beneficiary designation for that account on Form TSP-U-3. I. INFORMATION ABOUT YOU 1. Name Last 2. First / 3. Social Security Number Middle / 4. ( Date.

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A beneficiary who is not a surviving spouse cannot retain a TSP account. ... If a beneficiary participant dies, the new beneficiary(ies) cannot continue to maintain the account in the TSP. Also, the death benefit payment can- not be transferred or rolled over into any type of IRA or plan.

A rollover is when you receive eligible money directly from your traditional IRA or plan and then you later put it into your TSP account. You cannot roll over Roth money into the TSP and you must complete your rollover within 60 days from the date you receive your funds.

With the TSP, you are exempt from the early withdrawal penalty if you separate from federal service in the year in which you reach age 55 or later. For IRAs, the early withdrawal penalty will apply on anything you take out up until you reach the age of 59 ½.

No, you should not include your TSP contributions separately on your tax return. All you have to do is report W2 data in Turbo Tax exactly as it appears on the form. The TSP plan contributions you elect to make come directly out of your salary.

Go to myPay and log in. Under the PAY CHANGES heading, select the Thrift Savings Plan (TSP) link. Select the yellow pencil icon to make a change to your TSP contribution. In the resulting pop up window, enter the changes you want to make. ... Select the Continue button to move to the Review stage.

The Thrift Savings Plan (TSP) is not an Individual Retirement Arrangement (IRA) and vice versa. ... Though they are both similar in that they are tax advantaged retirement savings plans, the rules can vary significantly, and those that are not aware of the differences can pay a price at tax time.

If you move your TSP account to a Roth IRA, you could lose this benefit. Pay attention to taxes. If you decide to move your TSP account into an IRA, make sure you transfer the funds directly to your new institution instead of via an indirect transfer (where the money comes to you first).

Payment of death benefits In order for your beneficiaries to receive your account balance after your death, they (or their representatives) must complete Form TSP-17, Information Relating to Deceased Participant, and submit it with a copy of the certified death certificate.

If you are 591/2 or older, you can make withdrawals from your TSP account while you are still employed. This is called an age-based withdrawal or 591/2 withdrawal. You must pay income tax on the taxable portion of your withdrawal unless you transfer or roll it over to an IRA or other eligible employer plan.

If you decide to roll over your TSP assets to an IRA, you can choose either a traditional IRA or Roth IRA. No taxes are due if you roll over assets from a traditional TSP account to a traditional IRA, or if you roll over your contributions and earnings from a Roth TSP account to a Roth IRA.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232