TSP Year End Processing Schedule

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By on December 3, 2012 in Retirement with 0 Comments

Year-end transaction processing schedule — The TSP processing schedule for the end of 2012 is shown below. The schedule includes information about when transactions (including withdrawals and monthly payments) will be processed, as well as when the TSP will be closed during the holiday season.

  • December 15 — The deadline for the TSP to receive a request for an annual change in monthly payments is December 15. This deadline applies only to participants who are in monthly payment status.
  • December 19 — TSP monthly payments that are normally scheduled to be processed between December 20 and December 31, 2012, will be processed on December 19, along with the December 19 payments that are regularly scheduled for that date. For income tax purposes, these payments will be reported to the Internal Revenue Service as income for 2012.
  • December 20 — Any residual 2012 required minimum distribution (RMD) amounts for beneficiary participants will be processed on December 20. For income tax purposes, these payments will be reported to the Internal Revenue Service as income for 2012.
  • December 21 — Any residual 2012 required minimum distribution (RMD) amounts for civilian and uniformed service participants will be processed on December 21. For income tax purposes, these payments will be reported to the Internal Revenue Service as income for 2012.
  • December 25 — Because December 25 is a Federal holiday, the TSP will be closed. Transactions that would have been processed Tuesday night (December 25) will be processed Wednesday night (December 26) at Wednesday’s closing share prices.
  • December 26 — Withdrawals processed through December 26 will be disbursed and reported to the IRS as income for 2012.
  • December 27-28 — Withdrawals processed on December 27 and December 28 will be reported to the Internal Revenue Service as income for 2013. The payments (checks and EFTs) are expected to be issued on January 2, 2013.
  • December 31 — Withdrawals processed on December 31 will be reported to the IRS as income for 2013. The payments (checks and EFTs) are expected to be issued on January 3, 2013.
  • January 1, 2013 — Because January 1 is a Federal holiday, the TSP will be closed. Transactions that would have been processed Tuesday night (January 1) will be processed Wednesday night (January 2) at Wednesday’s closing share prices.

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Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce.

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