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What is a TSP 65 form?

If you have both a civilian and a uniformed services TSP account and you separate from federal civilian service, you may combine your TSP accounts. Use Form TSP-65, Request to Combine Civilian and Uniformed Services TSP Accounts.

At what age can I withdraw my TSP without penalty?

ing to Weaver, TSP regulations changed on June 1, 2022, and going forward all primary beneficiaries must be deceased before the TSP will pay out to any contingent beneficiaries.

What are the new rules for TSP beneficiaries?

A copy of your 2024 Form 1099-R will also be available in your My Account secure participant mailbox by mid-February. If needed, corrected forms will be issued within three weeks of verifying the correction. If youre expecting a corrected Form 1099-R, you may wish to wait to file your taxes until you receive the form.

Do I need to claim my TSP on my taxes?

While you do not have to pay taxes on the contributions portion (the amount you paid in to the TSP) of any withdrawal, you will have to pay taxes on the earnings portion of the withdrawal, plus a 10 percent penalty if the withdrawal is considered non-qualified.

At what age can you withdraw from TSP without paying taxes?

The taxable part of a nonqualified distribution is treated the same as a distribution of your traditional TSP balance: whatever portion is not rolled over is taxed and, if you are under 59 , subject to the early withdrawal penalty.

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What is a TSP form?

THRIFT SAVINGS PLAN. TSP-1. ELECTION FORM. ORIGINAL TO PERSONNEL FOLDER Provide a copy to the employee and to the payroll office. Use this form to start, stop, or change the amount of your contributions to the Thrift Savings Plan (TSP).

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