The Thrift Savings Plan has published its end of the year processing schedule as 2021 winds down so plan participants will know when to expect transactions (including withdrawals and installment payments) to take place as well as when the TSP will be closed for Christmas.
The schedule is as follows:
- December 16 — TSP installment payments that are normally scheduled to be processed between December 16 and December 31 will be processed on December 16. For income tax purposes, these payments will be reported to the Internal Revenue Service (IRS) as income for 2021.
- December 17 — Any residual 2021 required minimum distribution (RMD) amounts for beneficiary participants will be processed on December 17. For income tax purposes, these payments will be reported to the IRS as income for 2021.
- December 20 — Any residual 2021 RMD amounts for civilian and uniformed services participants will be processed on December 20. For income tax purposes, these payments will be reported to the IRS as income for 2021.
- December 24 — Because Friday, December 24 is a federal holiday, the TSP will be closed. Transactions that would have been processed Friday night (December 24) will be processed Monday night (December 27) at Monday’s closing share prices.
- December 29 — Withdrawals processed through December 29 will be disbursed and reported to the IRS as income for 2021.
- December 30 — Withdrawals processed on December 30 will be reported to the IRS as income for 2022. The payments (checks and direct deposits) are expected to be issued on January 3, 2022.
- December 31 — Withdrawals processed on December 31 will be reported to the IRS as income for 2022. The payments (checks and direct deposits) are expected to be issued on January 4, 2022.
