THRIFT SAVINGS PLAN
TSP-60
Request for a transfer into the tsp
Use this form to request a transfer or to complete a rollover of tax-deferred money from an eligible retirement plan into the traditional
(non-Roth) balance of your Thrift Savings Plan (TSP) account. Funds received by the TSP will not be invested until a properly completed
Form TSP-60 has been received.
I. INFORMATION ABOUT YOU — This request applies to my:
Civilian Account OR
Uniformed Services Account
1.
Last Name
Middle Name
First Name
2.
3.
TSP Account Number
Foreign address?
5.
Check here.
/
/
4.
Date of Birth (mm/dd/yyyy)
6.
Daytime Phone (Area Code and Number)
Street Address or Box Number (For a foreign address, see instructions on back.)
Street Address Line 2
8.
7.
City
State
–
9.
Zip Code
Certification — I certify to the best of my knowedge that the distribution I am transferring or rolling over into the TSP meets the rel
quirements for a distribution from an IRA or an eligible employer plan (whichever is applicable) as described in the General Information
section of this form. I further certify that I have read this form (and instructions) in its entirety and that the information I have provided is
true and complete to the best of my knowledge. Warning: Any intentional false statement in this request or willful misrepresentation
concerning it is a violation of law that is punishable by a fine or imprisonment for as long as 5 years, or both (18 U.S.C. § 1001).
10.
11.
Participant’s Signature
/
/
Date Signed (mm/dd/yyyy)
Ii. Information from ira or plan — This section must be completed by the trustee (or custodian) of the IRA or by the ad-
ministrator of the eligible employer plan from which the distribution is being (or was) made. Be sure to read the instructions for certification requirements for rollovers. Also, if this distribution is from a SIMPLE IRA, you must provide written documentation showing
the period of participation.
12. This is a:
13. This distribution is from a(n):
14. Gross amount of tax-deferred distribution: $ , , .
Transfer (Direct Rollover)
Rollover
Traditional IRA
(For definitions, see the General Information section of this form.)
SIMPLE IRA
Eligible Employer Plan
15.
/
/
Date of Distribution (mm/dd/yyyy)
Certification — I certify that the funds are being (or have been) distributed from an eligible retirement plan as defined in
IRC § 402(c)(8)(B) and as described in the General Information section of this form.
16.
17.
Daytime Phone (Direct Number)
Typed or Printed Name of Financial Institution Representative or Plan Administrator
/
18.
19.
20.
/
Date Signed (mm/dd/yyyy)
Signature of Financial Institution Representative or Plan Administrator
Name of Financial Institution
21.
Street Address or Box Number
Street Address Line 2
22.
City
23.
24.
State
–
Zip Code
FORM TSP-60 (10/2012)
PREVIOUS EDITIONS OBSOLETE
Form TSP-60 INSTRUCTIONS
Use this form to request a transfer or to complete a rollover of
tax-deferred money from an eligible retirement plan into the
traditional (non-Roth) balance of your Thrift Savings Plan (TSP)
account. You must have an open TSP account with a balance
when your request is received by the TSP. Note: Money cannot be
transferred or rolled over into a beneficiary participant account.
The TSP is a retirement savings and investment plan for Federal
employees and members of the uniformed services. Congress
established the TSP in the Federal Employees’ Retirement System Act of 1986. The TSP is to be treated as a trust described
in 26 U.S.C. § 401(a), which is exempt from taxation under 26
U.S.C. § 501(a). TSP regulations are published in title 5 of the
Code of Federal Regulations, Parts 1600 – 1690, and are periodically supplemented and amended in the Federal Register.
You must complete Section I of this form, then provide the entire
package to your IRA trustee or plan administrator to complete
Section II. If necessary, have your IRA trustee or plan administrator return the form to you. In order for your request to be processed, it must include a completed Form TSP-60 and a check
made payable to the Thrift Savings Plan with your name and TSP
account number (or Social Security number) on the check. If we
cannot identify the account to which the funds should be deposited, we will return the check to the sender.
Note: If you intend to make a full withdrawal, please wait until
you receive confirmation that your transfer or rollover has been
completed before requesting the withdrawal.
SECTION I. Complete Items 1 – 9. Check whether this request
applies to your civilian or uniformed services account. Check only
one box. You cannot transfer or roll over money into multiple accounts using one form. If you have more than one TSP account,
and you do not check a box, your form will not be processed. If
you are currently a Federal employee or a member of the uniformed services and the address you provide on this form is different from the address in your TSP record, have your agency or
service submit an address change for you. If you are separated
from Federal servce or the uniformed services, you can update
i
your address on the TSP website (www.tsp.gov), or submit Form
TSP-9, Change in Address for Separated Participant, to the TSP.
The address on this form cannot be used to update your TSP
record.
If you have a foreign address, check the box in Item 5 and enter
the foreign address as follows in Items 6 – 9:
First address line: Enter the street address or post office box
number, and any apartment number.
Second address line: Enter the city or town name, other principal subdivision (e.g., province, state, county), and postal code, if
known. (The postal code may precede the city or town.)
City/State/Zip Code fields: Enter the entire country name in the
City field; leave the State and Zip Code fields blank.
Read the General Information section of this form, and sign and
date Items 10 and 11 if the information is correct. If you cannot
certify that your transfer or rollover meets all of the requirements described, you cannot transfer or roll over your distribution into the TSP.
If you have questions, call the ThriftLine toll free at 1-877-9683778 or the TDD at 1-877-847-4385. Outside the U.S. and Canada,
please call 404-233-4400 (not toll free).
Either mail the check and form to:
TSP Rollover and Transfer Processing Unit
P.O. Box 385200
Birmingham, AL 35238-5200
Or fax to:
1-866-458-1452
205-439-4501 (outside the U.S. and Canada)
If you fax this form, please send your check immediately to
the TSP.
SECTION II. The instructions for Section II are intended for the
IRA or plan representative.
If you are unwilling to complete this section, submit an IRS Letter
of Determination or a letter on the organization’s letterhead confirming that the funds are being transferred (or rolled over) from
a qualified plan. Otherwise, we cannot deposit the funds into the
participant’s account.
If the distribution is being transferred directly to the TSP, you
must mail the completed Form TSP-60 and a check for the
amount being transferred to the address shown above. The check
should be made payable to the Thrift Savings Plan and contain
the participant’s name and TSP account number (or Social Security number). If this information cannot be provided on the check,
a document must be enclosed that provides this information.
If the distribution is being rolled over, you must submit a letter
(on the organization’s letterhead) or a distribution statement that
shows the date and the gross amount of the tax-deferred distribution. Return the completed Form TSP-60 and the letter (or statement) to the participant as soon as possible so that he or she can
make the rollover within the allowed 60-calendar-day period.
Item 12. Check the “Transfer (Direct Rollover)” box if the funds are
being transferred directly to the TSP. Check the “Rollover” box if
the distribution has been paid to the participant, and he or she is
sending a check in the amount of the distribution to the TSP.
Item 13. Check the appropriate box to indicate whether the distribution is from a traditional IRA, SIMPLE IRA, or eligible employer
plan. Complete this information whether the distribution is being transferred or rolled over. Note: If this distribution is from a
SIMPLE IRA, you must provide written documentation showing
the period of participation.
Item 14. Indicate the total gross amount of the tax-deferred distribution that is being (or was) made from the IRA or plan.
Item 15. If this request is for a rollover, provide the date that the
distribution was made to the participant.
Items 16 – 24. Read the General Information section of this form,
then complete the requested information.
Form TSP-60 (10/2012)
PREVIOUS EDITIONS OBSOLETE
FORM TSP-60 GENERAL Information
Form TSP-60 should accompany your transfer or rollover check
to avoid complications. Sending the form and check separately
could delay the processing of the transaction. A separate form is
required for each check that you, your IRA trustee, or your plan
administrator sends to the TSP.
If the TSP does not receive a Form TSP-60, but receives a check
without a participant’s identification (name and TSP account
number or Social Security number), the original check will be
returned to the sender — that is, to the financial institution if the
check was a direct transfer, or to the participant if the check was
a rollover.
If the TSP receives a check with appropriate identification, but
without Form TSP-60, the original check will be held for up to 15
days (without earnings) pending receipt of the completed form
(and supporting documentation, if necessary). After that time,
if the form (and any other necessary documentation) is not received, the check will be returned to the sender.
Be sure to read all of the General Information and Instructions
before you complete this form.
What tax-deferred distributions will the TSP accept?
The TSP will accept both transfers and rollovers of tax-deferred
money from any eligible retirement plan as defined in Internal
Revenue Code (IRC) § 402(c)(8)(B). An eligible retirement plan includes a traditional individual retirement account (IRA), a SIMPLE
IRA to which the participant has contributed for at least 2 years,
and an eligible employer plan. To be accepted by the TSP, distributions must meet different requirements depending on whether
they are from an IRA or an eligible employer plan.
Before submitting this form, a TSP participant who would like
to transfer or roll over money into the TSP should check with a
representative of his or her IRA or plan to determine what portion
of a distribution (if any) meets the applicable requirements, as
described below.
Note: Participants are required to certify in Section I of this
form that the distribution they are seeking to transfer or roll
over into the TSP meets the applicable requirements. If a participant cannot sign the certification, the TSP cannot accept the
transfer or rollover.
Traditional IRA. This is an individual retirement account described in IRC § 408(a) or an individual retirement annuity described in IRC § 408(b). The traditional IRA category does not
include a Roth IRA, an inherited IRA, or a Coverdell Education
Savings Account (formerly known as an education IRA); distributions from these types of IRAs will not be accepted by the TSP.
The TSP will accept all or a portion of a distribution from a traditional IRA except a distribution that:
• is a minimum distribution required by IRC § 401(a)(9); or
• consists of after-tax balances (i.e., money that has already
been subjected to Federal income tax).
SIMPLE IRA. This is a Savings Incentive Match Plan for Employers, an employer sponsored retirement plan available to small
businesses. A TSP participant can transfer an amount from a
SIMPLE IRA to the TSP, as long as he or she participated in the
SIMPLE IRA for at least 2 years. Note: The TSP must receive
written documentation showing the period of participation in a
SIMPLE IRA.
Eligible Employer Plan. This is a plan qualified under IRC
§ 401(a) (including a § 401(k) plan, profit-sharing plan, defined
benefit plan, stock bonus plan, and money purchase plan); an
IRC § 403(a) annuity plan; an IRC § 403(b) tax-sheltered annuity;
or an IRC § 457(b) plan maintained by a governmental employer.
To be accepted into the TSP, the distribution from an eligible employer plan must be an “eligible rollover distribution.”
An eligible rollover distribution is a distribution to a participant of
all or a portion of his or her account. However, it cannot be:
• one of a series of substantially equal periodic payments
made over the life expectancy of the employee (or the joint
lives of the employee and designated beneficiary, if applicable), or for a period of 10 years or more;
• a minimum distribution required by IRC § 401(a)(9);
• a hardship distribution;
• a plan loan that is deemed to be a taxable distribution because of default; or
• a return of excess elective deferrals.
Examples of eligible rollover distributions include: a lump sum
distribution after terminating employment; an age-based in-serv
ice withdrawal; a final single payment after a series of monthly
payments; monthly payments lasting less than 10 years; death
benefit payments; or payments made to a spouse or former
spouse pursuant to a qualified domestic relations order (QDRO).
For Federal civilian employees, an eligible rollover distribution
may also include some retirement benefits administered by the
Office of Personnel Management (for example, a taxable portion
of the Alternative Form of Annuity (AFA) or interest on lump sum
retirement credits).
All of the money transferred into the TSP must be money that
would have been included in the participant’s gross income for
the tax year in which the transfer was made, had the money been
distributed without being transferred or rolled over.
What is the difference between a “transfer” and a “rollover”?
A transfer (also known as a “direct rollover”) occurs when the
participant instructs the distributing plan to send all or part of his
or her eligible rollover distribution directly to the TSP instead of
issuing it to the participant.
A rollover occurs when the distributing plan makes a payment
to the participant (after withholding the applicable Federal income tax) and the participant deposits all or any part of the gross
amount of the payment into the TSP within 60 days of receiving it.
Form TSP-60 (10/2012)
PREVIOUS EDITIONS OBSOLETE
FORM TSP-60 GENERAL Information (continued)
How much tax-deferred money can a participant transfer or roll
over into the TSP?
There is no limit to the number of transfers or rollovers of taxdeferred money that a participant can make. A participant can
transfer or roll over all or any part of a tax-deferred distribution
that meets the applicable requirements described on the previous page, and that does not include after-tax or tax-exempt balances. If the distribution is made to the participant, an IRA may
withhold taxes; an eligible employer plan must withhold taxes
before making the distribution. The participant can roll over the
entire amount of the distribution, including any amount that was
withheld for taxes, by making up with personal funds the amount
that was withheld. If, at a later date, it is determined that the
funds were not eligible for transfer or rollover, the funds will be
removed from the account and returned to the sender.
Note: Any portion of the distribution that the participant chooses not to transfer or roll over will be taxed as ordinary income.
In addition, if the participant is younger than 59 ½ at the time of
distribution, he or she may have to pay a 10% early withdrawal
penalty tax on the amount that was not transferred or rolled over.
How does the IRC annual elective deferral limit affect transfers
and rollovers?
Money that is transferred or rolled over into the TSP is not applied to the annual elective deferral limit that is imposed on regular employee contributions.
How does a transfer or rollover affect monthly payments?
If a TSP participant is receiving monthly payments at the time of a
transfer or a rollover, the TSP will recalculate the amount or the
duration of the monthly payments beginning with the first payment the participant receives in the year following the transfer or
rollover. If a participant is receiving payments:
• Of a specific dollar amount, the recalculation will occur
only if the participant transferred $1,000 or more, and only
the duration of the payments will be affected. However, if
the new duration of the payments is 10 years or more, the
payments will no longer be eligible for transfer or rollover,
and the tax withholding on the payments may change.
What happens to the money once it reaches the TSP?
Money that is transferred or rolled over into the TSP is allocated
to the TSP investment funds according to the participant’s most
current contribution allocation on file. Once the money is deposited into the participant’s TSP account, it is treated like employee
contributions and will be subject to the same plan rules as all
other employee contributions in the account. These rules may be
different from the rules of the IRA or plan from which the money
was distributed.
When you send us a rollover check, it will be converted into an
electronic funds transfer (EFT). We will make an electronic image of your check and use the account information on it to debit
your bank account electronically for the amount of the check.
Although the debit will be reflected on your bank statement, you
will not receive the cancelled check because the original will be
destroyed after we image it. If for some technical reason the data
from the EFT cannot be processed, we will transmit our imaged
copy of your check to your bank.
Note: Because the conditions under which the TSP will accept
transfers and rollovers are strict, and there may be tax consequences, we recommend that you consult your tax advisor before
you move money into the TSP.
What Roth distributions will the TSP accept?
The TSP will only accept transfers of qualified and nonqualified
Roth distributions from any applicable retirement plan, as defined
in IRC § 402(e)(1), under which an employee may elect to make
Roth contributions. An applicable retirement plan includes a plan
qualified under IRC § 401(a) (e.g., a 401(k) plan); an IRC § 403(b)
tax-sheltered annuity; or an IRC § 457(b) plan maintained by a
governmental employer. It does not include a Roth IRA.
The TSP will not accept rollovers of qualified or nonqualified
Roth distributions that have already been paid to you.
If you would like to transfer Roth money into the Roth balance of
your TSP account, do not complete this form; instead, complete
Form TSP-60-R, Request for a Roth Transfer Into the TSP.
• Based on life expectancy, the recalculation should increase
the amount of each payment.
For more information, see the TSP tax notice “Tax Information for
TSP Participants Receiving Monthly Payments.”
PRIVACY ACT NOTICE. We are authorized to request the information you pro ide
v
on this form under 5 U.S.C. chapter 84, Federal Employees’ Retirement System. We
will use this information to identify your TSP account and to process your request. In
addition, this information may be shared with other Federal agencies for statistical,
auditing, or archiving purposes. We may share the information with law enforcement
agencies investigating a violation of civil or criminal law, or agencies implementing
a statute, rule, or order. It may be shared with congressional offices, private sector
audit firms, spouses, former spouses, and beneficiaries, and their attorneys. We
may disclose relevant portions of the information to appropriate parties engaged in
litigation and for other routine uses as specified in the Federal Register. You are not
required by law to provide this information, but if you do not provide it, we will not be
able to process your request.
Form TSP-60 (10/2012)
PREVIOUS EDITIONS OBSOLETE
