Learning how to use the TSP withdrawal forms. I'm not going to bore you by going through every column of these forms because it's quite voluminous. Let's start with the TSP 75, which is titled the age-based in-service withdrawal request form. Age-based means you are 59 and a half or older and still employed. In this form, we will only be discussing withdrawal requests for individuals who are still employed and meet the age requirement. Now let's address the biggest concern you may have. On the screen, you will see form TSP-2, which is the withdrawal request form. This is where you specify the amount you are requesting. As long as you have reached the age of 59 and a half while still employed, you can request any amount from your TSP. The half in the age requirement is due to a compromise made by politicians. It allows individuals to withdraw funds from their TSP accounts at the age of 59 and a half. It may not make complete sense, but that is the rule. Moving on to the next section, you will notice the "Transfer Election" option. Here, you can choose to transfer your withdrawal directly to an IRA. If you have a Roth TSP, you can also transfer it to a Roth IRA. Simply check the indicating your preference. On page nine, you will find a section labeled "Line 29," where you can specify the amount or percentage of your withdrawal that you want to transfer to your IRA. Let me provide an example to clarify. Let's say you are 60 years old and want to buy a boat before retirement. You need $20,000 for this purchase. You can decide what percentage of your TSP withdrawal you want to keep and what percentage you want to transfer to...
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Tsp 73 Form: What You Should Know
The deadline was December 31, 2013,, and you have to file by December 31, 2013, Forms | Tax Direct June 30, 2024 — TOSS has provided details from the Federal Government that they plan to implement TSP-73 and TSP-73A. These changes would bring the TSP's rules in line with those of the IRS so that taxpayers who no longer have access to their bank accounts will be able to access their TSP funds through their TSP account, rather than the IRS. July 10, 2024 — Notice of TSP-73: Effective July 17, 2018, the Internal Revenue Service will no longer accept Form 709 or Form 8029, Declaration of Participation by Non-Retirement Account Beneficiaries. This guidance will remain in effect on July 17, 2017. Tax Forms | Tax Direct June 30, 2024 — TOSS has provided details from the Federal Government that they plan to implement TSP-73 and TSP-73A. These changes would bring the TSP's rules in line with those of the IRS so that taxpayers who no longer have access to their bank accounts will be able to access their TSP funds through their TSP account, rather than the IRS. July 10, 2024 — Notice of TSS-83: Effective October 1, 2018, the Internal Revenue Service will no longer accept Form 8802, Request for Notice of Federal Tax Lien on Real Property, Property in Lessee's Possession, or Deed of Sale, for TSS-83 to be filed. This guidance will remain in effect, effective as of May 31, 2018.
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Video instructions and help with filling out and completing Tsp form 73
