- How to Request a Withdrawal
- Transfers and Rollovers of Your Withdrawal
- Depositing Your Withdrawal Payment Electronically
- Receiving Your Money
If you are ready to request a withdrawal from your TSP account, you need to do the following:
- Read the booklet Withdrawing Your TSP Account After Leaving Federal Service.
- Read the TSP tax notice "Important Tax Information About Payments From Your TSP Account".
- Complete either Form TSP-70, Request for Full Withdrawal or Form TSP-77, Request for Partial Withdrawal When Separated.
Withdrawal forms are available on this website or through the ThriftLine. Be sure to read all form instructions carefully to avoid any unnecessary delay in the processing of your request.
When you make a full or partial withdrawal of your account after leaving Federal service, you may be able to transfer or roll over all or part of it to a traditional IRA, a Roth IRA, or an eligible employer plan. However, your eligibility to transfer or roll over, as well as how taxes are applied, depends on the type of money contained in your withdrawal (traditional or Roth) and the type of account that will receive your transfer or rollover. Depending on the type of plan you move your money into, the funds you transfer or roll over may become subject to plan rules different from those that govern the TSP.
For detailed information about transferring or rolling over your withdrawal, read the TSP tax notice "Important Tax Information About Payments From Your TSP Account."
Any single payment or monthly payment that is not transferred directly to an IRA or eligible employer plan can be electronically deposited in your savings or checking account. You simply have to provide the necessary information on your withdrawal request form.
You should allow at least several weeks from the time you submit your completed withdrawal request and the time that payment is sent. The TSP will notify you in writing when your payment has been disbursed. You can go to My Account: Withdrawals or call the ThriftLine to find out the status of your request.
Your withdrawal could take longer if your agency or service delays reporting your separation from Federal service, if you have an outstanding TSP loan, or if you submit forms that are not completed properly.