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Do beneficiaries pay taxes on Thrift Savings Plan?

The money in a beneficiary participant account is not subject to federal income tax withholding until it is withdrawn . For more detailed information about beneficiary participant accounts, read the booklet Your TSP Account: A Guide for Beneficiary Participants .

Where do I get TSP forms?

(The most current versions of TSP forms and publications are available on the TSP website at tsp.gov.) To choose your investment fund(s), use the TSP website (tsp.gov) or call the ThriftLine at 1-877-968-3778. Outside the U.S. and Canada, call 404-233-4400.

What is a TSP 17 form?

Form TSP-17, Information Relating to Deceased Participant. Agency Responsibilities. If a TSP participant dies while still in Federal service, the agency should provide Form TSP-17, Information Relating to Deceased Participant to a family member, executor, or potential beneficiary and assist with its completion.

Is there a tax form for TSP contributions?

IRS Form 1099-R \u2014 The TSP has mailed IRS Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., to participants who received a withdrawal up to December 27, 2019, and/or a taxable distribution of a loan up to December 31, 2019.

What is a TSP 17 form?

Form TSP-17, Information Relating to Deceased Participant. Agency Responsibilities. If a TSP participant dies while still in Federal service, the agency should provide Form TSP-17, Information Relating to Deceased Participant to a family member, executor, or potential beneficiary and assist with its completion.

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How do I upload TSP forms?

Submitting certain forms online \u2014 You may now submit certain TSP forms online by logging in to My Account and uploading a PDF copy of the form. You'll find an up-to-date list of forms we accept online when you log in to My Account and select Upload Form from the menu.

What is a TSP 75 form?

Tsp 75 Form TSPs are special retirement accounts only available to federal employees, members of the military, and their families. This form is also known as an Age-Based In-Service Withdrawal Request. It can only be used by someone who is over the age of 59 1/2 years and who is still a government employee.

What form is used for TSP withdrawal?

Complete Form TSP-77 and mail it to the TSP Service Office. (Your request cannot be processed until your agency sub- mits confirmation of your separation to the TSP.) 2. Use the TSP Web site (www.tsp.gov) to begin (and in some cases, complete) your withdrawal request.

What is a TSP 99 form?

Based on those answers, the online tool will generate Form TSP-99 (WEB), Withdrawal Request for Separated and Beneficiary Participants, which is a summary of the request with the participant's provided information. Depending on the circumstances, the request may be completed entirely online.

How do I update my TSP?

The easiest way to change the amount of your TSP contributions is by using the Government Retirement & Benefits (GRB) Platform. GRB has replaced the Employee Benefits and Information System (EBIS) and is accessed at the https://www.ebis.army.mil .

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