Transfer vs. Rollover
With a transfer, the money in your account never comes directly to you. It is sent from your TSP account to your IRA or plan administrator. With a rollover, the TSP funds are sent to you and you can then send the money to your IRA or plan administrator as long as you do so according to the IRS rules.
Are You Transferring Traditional and Roth Money?
Transfers of the traditional and Roth portions of your payment are done separately. So you can send each portion to a different financial institution or to the same financial institution. Be sure to pay close attention to the instructions on Form TSP-70, Request for Full Withdrawal so that you and your financial institutions(s) provide all of the necessary information.

How to Request a Withdrawal


If you are ready to request a withdrawal from your TSP account, you need to do the following:

  1. Read the booklet Withdrawing Your TSP Account After Leaving Federal Service.
  2. Read the TSP tax notice "Important Tax Information About Payments From Your TSP Account".
  3. 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.

Your withdrawal request cannot be processed unless your agency or service has notified the TSP that you have separated from service and has provided the date of your separation. It usually takes up to 30 days after the actual date of separation for this information to be submitted to the TSP.

Transfers and Rollovers of Your Withdrawal


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."

The tax rules regarding transfers and rollovers can be complicated. You should consult a tax advisor to ensure that you understand the tax consequences of such a transaction.

Depositing Your Withdrawal Payment Electronically


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.

Receiving Your Money


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.

Be advised that while your withdrawal request is being processed, the money you have invested in any of the TSP's stock or bond funds is subject to fluctuation due to changes in market prices and interest rates. If you want to completely eliminate your exposure to risk of loss, you can request an interfund transfer to invest your account in the Government Securities Investment (G) Fund.